Israeli venture capital firm Carmel Ventures announced today that it has closed a fourth round of funding worth a total of US$194 million. And interestingly, this latest round includes investment from “several leading Asian strategic investors” including Chinese tech companies Baidu and Qihoo 360. Carmel Ventures did not disclose how much either of the Chinese tech giants invested, and a representative from Baidu confirmed to Tech in Asia that the company had participated in the funding round but declined to comment further.
Intel Capital, the VC arm of chipmaker giant Intel, has just dished out a sizable chunk of its US$100 million China Smart Device Innovation Fund to invest in five Chinese startups. As the name of the fund suggests, they’re making smart gadgets or services either as wearables, mobile, or for the home. While they each might have their merits, they’re not the most exciting Chinese smart startups that we’ve seen. (For those, see our list of 12 of China’s hottest hardware startups.)
In what appears to be the largest round for an Indonesian startup on public record, online marketplace startup Tokopedia announced its approximate US$100 million financing round, led by Japanese conglomerate SoftBank Internet and Media Inc (SIMI). Sequoia Capital joined in as a follow on investor. With this round of funding, SoftBank and Sequoia Capital representatives will join the company’s board of directors. The funding also comes as Sequoia Capital’s first investment in Indonesia.
Lenovo plans to increase its Thai market share as it invests an additional USD5 million in Thailand in 2014. Jeerawut Wongpimonporn, general manager of Lenovo Thailand, said that Lenovo’s Asian headquarters has approved this additional budget plan. Of the total investment, USD2 million to USD3 million will be used to expand marketing channels, enhance marketing, and improve operation and management; while the remainder will be used for office maintenance and the creation of a server demonstration center.
Ingrasys Technology, a subsidiary of Foxconn Electronics (Hon Hai Precision Industry), has acquired a 40% stake in Taiwan-based cloud computing-based storage and computing solution provider Hope Bay Technologies. Hope Bay said it was originally a cloud computing technology center under power supply maker and energy management solution provider Delta Electronics, which spun it off in May 2013.
Indian startup AdNear, which provides location-based intelligence for advertising, has just raised US$19 million in series B funding. What is significant is that a leading Japanese venture capital firm, Global Brain, and the VC arm of Australian telecom giant Telstra have come on board, joining existing investors Sequoia Capital and Canaan Partners in this round. AdNear, which started in Bangalore but is now headquartered in Singapore, has taken its unique adtech model across Southeast Asia, Australia, and most recently, Japan.
NEW DELHI: Information management and storage major EMC has partnered cloud services providers, Netmagic and Sungard AS, as part of its efforts to tap the $1 billion cloud market opportunity in India. The collaboration will focus on customers in sectors like manufacturing, healthcare, retail, BFSI and IT/ITeS sectors. EMC will work with the companies to offer customers a consolidated, customer-focused approach to design, architect and run a hybrid cloud to deliver speed and agility of public cloud services with the control and security of private cloud infrastructure.
Toshiba Corporation announced in September this year of its business expansion strategy for the Southeast Asia region, which includes investing US$1 billion in the region over the next five years, and doubling its current sales to US$7 billion. Speaking at a press conference in Jakarta, Indonesia, Hisao Tanaka, the President and CEO of Toshiba, elaborated on the infrastructure technologies and know-how that Toshiba proposes to deploy in SEA in support of building a better and secure future.
Nepal-based CloudFactory , which allows businesses and individuals to outsource web tasks to workers in emerging markets around the globe, today revealed that it has secured US$3 million in series A funding. It comes after US$700,000 in seed funding in September 2012. The series A funding is led by VRBO founder David Clouse, along with other angel investors. The money will go towards its US-based sales and marketing team.
A lot of people around the world are now taking notice of Chinese web giants like Alibaba and Tencent. But China’s startups are generally overlooked and have little chance of breaking out onto the world stage. China’s most active startup accelerator, dubbed Chinaccelerator , is trying to change that. “It’s a bridge, internationally,” says Chinaccelerator managing director William Bao Bean. “It’s the Silicon Valley experience in Shanghai.”
Taipei, Oct. 8 (CNA) Google Inc. is planning to increase its investment in its cloud computing data center in central Taiwan to better capitalize on Asia’s fast-growing Internet communications market, the Economic Daily News reported Wednesday The report said that Google is expected to invest an additional US$100 million to US$200 million in the third phase of the development of the data center, which is located in the Changhua Coastal Industrial Park. Google has already invested more than US$600 million in the facility.
Intel is investing 9 billion yuan (US$1.5 billion) in two Chinese chip companies with an eye to boosting its presence in the country’s booming mobile phone market. The two fabless semiconductor companies develop mobile chipset platforms for smartphones, feature phones and other consumer electronics products, which support 2G, 3G and 4G wireless communications standards, Intel said Friday.
NEW DELHI: Microsoft announced plans Tuesday (Sep 30) to offer its commercial cloud services from Indian data centres as it seeks to tap what it calls a US$2-trillion market in the country where Internet use is growing rapidly. The move is part of the US tech giant’s strategy to prepare for a world in which all data is stored online in locked accounts as it attempts to keep its market edge, with desktop use declining.
Intel has signed a contract with China-based Tsinghua Unigroup and will invest CNY9 billion (US$1.5 billion) in the company. Sources from PC players believe China is looking to acquire some of Intel’s technologies through the cooperation and will use these technologies to improve its China-designed processors, while Intel is looking to expand its presence in the China market. Digitimes Research previously estimated that if Spreadtrum enters the x86 ecosystem, the vendor may outsource its chip manufacturing to Intel.
China’s InnoLight Technology announced today via a press release that it has closed a US$38 million round of Series C funding led by Google Capital and Lightspeed China Partners. “We are very excited to have world class investors like Google Capital and Lightspeed China Partners,” said InnoLight board chair Dr. Hsing Kung. “We look forward to working with them closely to [help] InnoLight to become a world class optical component company.”
NEW DELHI–Prime Minister Narendra Modi pledged Thursday to slash red tape and harness the benefits of a huge young population as he launched a campaign to attract global business to manufacture in India. India’s business-friendly new leader wants to revive his country’s flagging economic fortunes by kick-starting a manufacturing sector long eclipsed by that of neighboring China. “We don’t need to invite the world to India, they are ready to come. We just need to give them our address,” Modi said at the launch of his “Make in India” campaign.
Chinese web giant Baidu (NASDAQ:BIDU) today launched a new personal investment fund that lets users crowd-invest in upcoming movies and television shows. Baifa Youxi (百发有戏; translates to “Baifa Me”) promises the same eight percent interest rate as the original Baifa fund, with returns reaching as high as 16 percent, according to Techweb.
Xueqiu.com, a Chinese social investment website, has completed its third round of financing of USD40 million with investors including Renren.com and Morningside Ventures. Xueqiu’s products include its website and an application for smart devices. Officially launched in November 2011, Xueqiu has been providing data inquiries, information, and interactive communications services to Chinese investors. Its services cover various categories such as stocks, funds, and bonds. Prior to this, the company already gained investments from Sequoia Capital and Morningside Ventures.
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.