Terry Gou, chairman of Hon Hai Group, announced that the company will invest over CNY5 billion in Shanxi to develop the electric car industry. Gou revealed that in 2014, Foxconn’s output in Shanxi will surpass CNY60 billion and the company already has 100,000 employees in this province. The company is expected to invest over CNY5 billion in Shanxi to develop the electric car industry by using the province’s rich energy resources.
Startup Asia has landed in the Land of the Rising Sun! Our inaugural event in Tokyo kicked off with a welcome address by Andrew Wang, Tech in Asia’s head of Japan. He expressed the team’s dedication to covering the domestic ecosystem and assured the audience that our first local event is definitely not the last. Namba-san opened her keynote speech by talking about DeNA’s roots – as an auction company. After Yahoo Japan entered the market, she was forced to change her game plan, which eventually landed on mobile gaming.
China-based Internet service provider Tencent has invested US$70 million in DXY, China’s leading medical, pharmaceutical and life science Web portal, according to Tencent. DXY is set to work with Tencent to seek potential integration between Tencent’s systems such as WeChat and its own platform and will use the funds to develop more medical and healthcare products, the company noted.
Foxconn Electronics will invest US$2 million to acquire a 10% stake in AirSig, a Taiwan-based developer of digital signing technology, and apply the technology to information security for mobile devices, according to AirSig. Prior to the investment, Foxconn also invested in Norway-based Next Biometrics to acquire fingerprint identification technologies.
TOKYO — Indian Prime Minister Narendra Modi on Tuesday sought to reassure investors that his reformist agenda would translate into better governance for Asia’s third-largest economy. During an official visit to Japan, the Indian leader told business leaders in Tokyo that he wanted to cast off the image of a country shackled by red tape and poor infrastructure. “We have carried out various deregulation measures,” Modi, who swept to power in May, told a forum hosted by the Nikkei newspaper and the Japan External Trade Organization.
BANGALORE| MUMBAI:Vishal Sikka at the helm of Infosy and Rishad Premji as head of strategy at Wipro scouting to pick up stake in startups focused on disruptive technologies have made investment bankers optimistic that country’s moribund outsourcing sector could see more deals in the coming months. However, both foreign and domestic bankers believe that the small acquisitions and partnerships would not be enough and a big buy-out has to be done before the rainmak .
In what comes as the largest funding round for a Taiwan startup this year, Taipei-based KKBox has announced it just raised US$104 million from Singapore’s GIC, a government owned investment firm. The company says it will use the funding to continue its overseas expansion and improve its technology. “The investment stems from GIC’s confidence in the long-term growth potential of KKBox given its unique music streaming service and strong franchise in its home markets.
China’s largest tech corporations are rushing to penetrate an industry that’s historically not tech-savvy – brick-and-mortar retail. Dalian Wanda Group, a conglomerate best known for its chain of movie theaters , has launched a US$814 joint ecommerce venture with Baidu and Tencent for the purpose of accelerating the three firms’ reach for in-store mobile payments. Tencent and Baidu have confirmed news of the venture with Tech in Asia.
Chinese lifestyle information website Ganji.com has gained new investments of USD200 million with investors such as Tiger Fund and Carlyle Group. Yang Haoyong, chief executive officer of Ganji.com, revealed that the company plans to launch its initial public offering in June 2015. Yang said Ganji.com will “not be listed with the second position” and the company aims at three firsts. It eyes the first position for operating revenue in the classified information industry in China; the first position for mobility in the classified information industry; and the first in the recruitment industry.
JD.com, China’s second largest ecommerce site, today received a US$17.2 million investment from Singapore state-owned investment firm Temasek, according to a filing with the U.S. Securities and Exchange Commission. The investment would translate to a stake of 0.06 percent for Temasek, according to Bloomberg data. This comes hot on the heels of the ecommerce company’s US IPO earlier this year in May, where they raised US$1.78 billion. Temasek’s backing will no doubt further boost investor confidence in JD.com. At the same time, Temasek put US$12.8 million into Chinese security software firm Cheetah Mobile.
Our smartphones connect us to the internet and millions of apps, but it is our telecommunications providers that allow the connection to take place at all. It makes perfect sense that the companies behind our handsets would be keen to aid tech startups, because people don’t just buy smartphones for specs – they buy them to access the must-have apps that keep us glued to our screens. NTT Docomo and KDDI – Japan’s first and second-largest wireless carriers by user base, respectively (or first and third , if one accounts for group companies) – are on the front-lines of startup investment with multi-million dollar funds and seasoned incubation programs.
Indonesia’s tech startup scene gets a boost of confidence today as the country’s biggest information and communication company Telkom (IDX:TLKM) announces its plan to invest US$200 million in tech startups, as reported today by Okezone . “As a CVC (corporate venture capital), Telkom is the first one in ASEAN,” says Telkom’s president director Arief Yahya. It will also be the biggest fund to ever come out of Indonesia for tech startups.
Itochu Technology Ventures (ITV) is the latest Japanese venture capital firm to start gunning for Southeast Asia. The move comes despite a strong presence in Japan where the firm has invested in noted Japanese startups like Crowdworks, Retty, and Whill. ITV joins the stream of venture capital, both large and small, streaming from Japan to its ASEAN neighbors. This trend has been well chronicled but ITV believes it can stand out from the pack. It is in the process of preparing a US$50-100 million fund to be finalized in 2015 and wants to use 30 percent of the capital for investing outside of Japan, with an emphasis on Southeast Asia.
[BANGALORE] Snapchat Inc’s financing talks with China’s Alibaba Group Holding are over, Bloomberg reported, citing people familiar with the matter. The developer of a popular app that allows users to send messages that disappear after a few seconds was reportedly in talks last week with investors, including Alibaba, for financing that could value the company at US$10 billion.
TOKYO: Robot porters and wearable translation devices are just some of the innovations Panasonic Corp would like to launch for the 2020 Tokyo Olympics, an event it hopes will earn it at least US$1.5bil (RM4.81bil). As one of the top sponsors of the Games since 1988, Panasonic has mainly supplied TV screens to host venues. But with the event coming home, Panasonic sees the Olympics-related technology and infrastructure contracts up for grabs as an opportunity to expand its other businesses as it seeks to reduce its reliance on the highly competitive consumer electronics segment.
SINGAPORE, Aug 4 — One gaming company here has been valued at US$1 billion (RM3.21 billion) in a United States-based report — putting it way ahead of other tech companies here — as the local scene gears up with an increasing number of venture capitalist investments and acquisitions in recent years. The World Startup Report recently published a listing of the top three Internet companies by market valuation in each of the 50 countries in the report, with Singapore coming in at 27th on the list. Each country was represented by its three largest Internet companies.
TAIPEI–China-based electronics components supplier BrightKing Holdings Ltd. has filed an application with the Taiwan Stock Exchange (TWSE) to seek a primary listing on the main board, the TWSE said Saturday. The TWSE said BrightKing is the fifth overseas registered company to seek a primary listing on the exchange so far this year.
Flipkart emerged as India’s top e-commerce company when it did not face any significant competition in the Indian market. The rules of the game changed last year when global e-commerce giant Amazon came out in the market to compete with Flipkart and other e-commerce companies. Last year, Flipkart moved its back end technology operations to Singapore. Flipkart Pvt Ltd, the key holding arm of Flipkart, is a Singapore incorporated entity.