Asia tech news roundup – Jan 11

Project Linda allows Razer Phone users to combine devices. Photo credit: Razer

Here’s a wrap of the day’s top tech stories.

Transportation

Grab nabs Hyundai investment (Singapore). Korean automaker Hyundai Motor has joined in the ride-hailing firm’s series G fundraise, which is targeted to close at US$2.5 billion. The two companies will also partner on developing “future mobility” services. Grab has previously entered into similar strategic investment and collaboration agreements with carmakers Honda and Toyota. (Grab)

OBike delivers (Singapore). The bike-sharing app now includes a feature called oBike Flash allowing users to deliver items to a destination of their choice. OBike is calling on users to become couriers – or “Flashmen” – for the new service. (Tech in Asia)

The startup also launched an ICO. From today, institutional investors will be able to purchase oCoins, with the sale expected to open up to retail buyers at a later date. OBike has partnered with online entertainment platform Tron to develop the cryptocurrency, which holders will be able to redeem for content from Tron. (Odyssey)

Ola eyes Australasian expansion (India). The ride-hailing company is planning to launch operations in Australia and New Zealand, two markets currently dominated by arch-rival Uber. Ola recently recruited teams in Bangladesh and Sri Lanka in preparation for launching services in those countries. (Business Standard)

Fintech

Moneytor secures seed funding (India). The Mumbai-based startup, which automates and digitizes debt collection processes, received the cash injection from 500 Startups and fintech accelerator ISME ACE, among others. (Inc42)

Police raid cryptocurrency exchanges in advance of ban (South Korea). Law and tax enforcement officials have raided the premises of several cryptocurrency exchange operators in the country, including Bithumb and Coinone, on suspicion of tax evasion. The South Korean government also announced that it plans to ban cryptocurrency trading soon, with legislation to that effect in the works. (Reuters)

India outpacing China in digital payments growth (India). The Modi government’s demonetization policy – which saw the overnight scrapping of 500 and 1000 rupee notes in November 2016 – is thought to have accelerated adoption of proximity payment modes which involve scanning, tapping, or swiping to pay, typically with a mobile device or smart card. The number of mobile payment users in India surged 76 percent last year, meaning the market is now growing faster than China’s – though its user base remains significantly smaller. (Tech in Asia)

Property and real estate

Kr Space raises US$92 million (China). Co-working provider Kr Space – an affiliate of media and entertainment company 36Kr – secured the funding from IDG Capital, Gobi Partners, Unity Ventures, Prometheus Capital, China Minsheng Investment Management, and Colony New Yangtze Fund. Competition in China’s shared workspace industry is fierce, with local player UrWork having raised millions in funding of late, and US market leader WeWork now making inroads. (China Money Network)

Consumer tech

Razer reveals laptop-smartphone hybrid (Singapore/US). Dubbed “Project Linda,” the laptop design will allow users to dock their Android-powered Razer Phone, using the phone’s display as a second screen or a touchpad. (The Verge)

See: Previous Asia tech news roundups

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from Tech in Asia https://www.techinasia.com/apac-news-11-01-2018
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