Asia tech news roundup – Jan 5

Photo credit: Kārlis Dambrāns

We’re barely a week into the new year, but there’s been plenty of news from Asia-Pacific’s tech and startup ecosystem.

Consumer tech

LeEco sells off Coolpad shares (China). LeView Mobile HK Limited, part of the stricken LeEco group, has sold almost two thirds of its shares in smartphone maker Coolpad to an entity named Power Sun Ventures for US$103 million. LeEco acquired a controlling stake in Coolpad in 2016, but has since fallen on hard times. It isn’t clear if Power Sun is also part of LeEco group or a third party. (Reuters)

Fintech

EarlySalary raises US$15.7 million (India). Eight Roads Ventures led the series B round, with previous backers IDG Ventures India and Dewan Housing Finance also joining in. The personal loans startup said it will use the funds to meet its target of disbursing 100,000 loans per month by the end of the year, compared to the current 14,000 per month. (Money Control)

Property and real estate

Photo credit: WeWork

WeWork unveils first Japan venue (Japan). The co-working provider will open the first of four new Japanese workspaces next month in Tokyo’s Roppongi neighborhood. The launch comes five months after Japanese tech giant SoftBank invested US$4.4 billion into WeWork. (Tech in Asia)

Investors, incubators, and accelerators

Google joins Chushou’s latest US$120 million funding round in renewed China drive (China). The US company made an undisclosed investment in livestreaming and e-sports platform Chushou as it seeks to make inroads into the Chinese market, where its web search services are blocked. (Reuters)

Vickers Venture Partners planning new US$500 million-plus VC fund (Singapore). The VC firm aims to close fundraising later this year, and will primarily target investments in biotech, nanotechnology, and artificial intelligence. Vickers closed its US$230 million fifth fund in October last year. (Reuters)

See: Previous Asia tech news roundups

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from Tech in Asia https://www.techinasia.com/apac-news-05-01-2018
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