Deal Street Asia — Chinese dating app Tantan has raised a $32 million Series C round of financing from a group of investors led by DST Global, Vision Plus Capital and LB Investment. “After this round of funding, we plan to continue focusing on [user] pain points, improving daily usage, and consolidating our position in the social application industry,” PR spokesperson from Tantan told TechNode.
Tech in Asia — On-demand logistics startup GogoVan raised a series C funding round, it announced today. The funding amount is undisclosed, but is described as “a decent amount for future business expansion.” The round was led by private equity firm New Horizon Capital and was joined by Singapore Press Holdings, Hotung Investment Holdings, and existing investors. Alibaba’s new US$130 million Hong Kong Entrepreneurs Fund also participated.
Forbes — In the 12 hours since Apple’s announced investment in Uber’s main Chinese rival, commentators have struggled to figure out why. Could $1 billion for Didi Chuxing show that Apple’s car-building efforts are further along than expected? Unlikely. Could the large investment be to integrate the computer maker’s new services, like Apple Music, Apple Maps, and Apple Pay into China?
Mobile World Live — China Unicom has committed to investing CNY14 billion ($2.2 billion) to upgrade its mobile networks and fibre infrastructure in Shanghai over the next five years. The operator, China’s second largest by number of subscribers, was the first to sign an “Internet +” cooperation agreement with the Shanghai municipal government, according to C114.net.
Tech in Asia — Singapore has entered the top ten of the AT Kearney Foreign Direct Investment (FDI) Confidence Index in 2016, jumping up five places since last year to reach tenth, and narrowly failing to reclaim the number 9 spot it held in 2014. The FDI Index is a barometer of how a country’s political and financial developments will impact foreign direct investment going into it – that is, how likely companies from one country are to invest in companies based in another.
Nikkei — HONG KONG — A financial affiliate of China’s e-commerce giant Alibaba Group Holding has received $4.5 billion from state-backed investors, in a fundraising round said to be the biggest ever for a privately held Internet company.
in Asia — India’s IT honchos made their billions from the IT services and outsourcing boom of the nineties and naughties. Now they’re investing in the new generation of entrepreneurs. The latest is a new fund for early stage startups called Ideaspring.
Enterprise Innovation — Alibaba Cloud has launched its 2016 global start-up program dubbed “Create@Alibaba Cloud,” aimed at championing start-ups and maximizing their potential through Alibaba’s support network and suite of cloud infrastructure services. “Through our program, we hope to make our sophisticated networking solutions and big-data intelligence also available to start-ups and small enterprises to accelerate their business growth,” Yu Sicheng, VP of Alibaba Cloud.
China Tech News — Alibaba Group announced that they will invest USD1 billion to subscribe a controlling stake in Lazada, including about USD500 million to subscribe new shares and the remaining to purchase from certain shareholders. Michael Evans, president of Alibaba Group, said that the investment in Lazada will allow Alibaba to enter an e-commerce platform with a large and growing consumer group outside China.
Tech in Asia —- Alibaba’s UCWeb, maker of UC Browser, today announced US$20 million in resources to be shared with independent and startup game developers in India. Called the 9Apps In Dev program, it will provide up to US$500,000 to a game developer. UCWeb expects to support 100 Indian gaming startups within two years.
ZDNet — Telstra’s venture capital arm Telstra Ventures has invested an undisclosed amount in United States web server provider NGINX, boosting the company’s ability to expand throughout the APAC region. According to Mark Sherman, managing director of Telstra Ventures, Telstra eyed the investment as an opportunity to expand its provision of application delivery and deployment services.
Asia Times — Much like in the US, China’s Internet giants are borrowing large amounts of money in order to take each other on for dominance of the online market. On Friday, it was reported that Tencent Holdings, best known for its WeChat mobile app, is seeking a loan of up to $2 billion, two people involved in the financing told Thomson Reuters LPC, a loan-focused news service.
Tech in Asia — Chinese tech giant Alibaba has sure been busy of late. The ink is barely dry on its US$1 billion deal with Lazada, and now we’ve got confirmation that it has also invested US$1.25 billion in Chinese food delivery startup Ele.me. Last week, we wrote that the investment had almost definitely happened because Alibaba’s Joe Tsai had joined Ele.me’s board, but neither side had officially confirmed the news or revealed the details of the transaction. Today, Ele.me finally spilled the beans.
Times of India — BEIJING: China will invest around $1.5 billion to upgrade Beijing’s Zhongguancun district or the “Silicon Valley of China”, an area with a strong presence of technology companies. According to authorities, the 7.2 km (4.4 miles) of Zhongguancun street, or its immediate vicinity, is the hub of Chinese technology companies such as Xiaomi mobile manufacturers, and where multinational companies, including Google, Intel, Sony and Ericsson have established research and development centres, EFE news reported on Monday.
Times of India — Xiaomi has made its first investment in India, leading a $25 million (Rs 170 crore) funding round into Hungama Digital Media Entertainment, an aggregator and publisher of entertainment content on the internet. Xiaomi, which will invest along with Hungama’s existing investors Intel Capital, Bessemer Venture Partners and Rakesh Jhunjhunwala, will pick up a minority, but undisclosed, stake in the Mumbai-based company.
Foxconn Electronics, its Cayman Islands-registered subsidiary Foxconn (Far East), Singapore-based Foxconn Technology Pte. and SIO International Holdings will together acquire 3.282 billion new common shares to be issued by Sharp to expand paid-in capital at JPY88 per share and a total price of JPY388.812 billion (US$3.42 billion) for a combined stake of 66.00%, according to Foxconn Electronics.
Daze Info — Cisco with revenue of US $49.2 billion and total employee strength of 71,833 has decided to help Indian start-ups bloom. The Company has decided to invest US $100 million in India for the next 18-24 months for the digitalization all throughout the Country. John Thomas Chambers, Executive Chairman – Cisco, believes it will also help in creating jobs and faster innovations in the region. Cisco announced in the presence of its executive Chairman on Friday about all the investment design and how it is going to be implemented.
Times of India — SHANGHAI/SINGAPORE: Alibaba-backed YTO Express plans to go public via a 17.5 billion yuan ($2.7 billion) merger with a listed clothing maker, becoming the latest courier seeking capital market funds to stay competitive during China’se-commerce boom.
Tech in Asia — To many, watching other people play video games sounds like a special rung of hell. But Twitch.tv has proven that the younger generations are into it, and that they’re willing to spend quite a bit of money following their favorite streamers. In China, Douyu TV is doing the same thing. And it just finalized a US$100 million investment to help further its expansion.
Telecom Asia— Telecoms consultancy Yozzo has released a report on Thailand’s telecom market at the end of 2015 in which it highlighted a vibrant, healthy market that is let down by mis-investment by the state. Report author Allan Rasmussen told TelecomAsia that according to the ICT Ministry’s own national statistical office 25 million Thai citizens do not use the internet because they do not know how, 47,000 do not use the internet because of network access issues and 216,000 because they find it too expensive.
Vietnam Net — The new facility is scheduled to operate as a Research & Development (R&D) centre of the firm. This will be the first project Apple has ever initiated in Vietnam. The project is currently still in the planning stage. Apple is considering locations for the facility, possibly in Hanoi, according to baodautu.vn.
Tech Crunch — In a case of one news-reader app helping another, Japan’s Gunosy has invested $5 million in Indonesia-based Kurio. Gunosy went public in Tokyo last year; this year it has embarked on a series of investments, which included the acquisition of game strategy site Game8. Now it is turning to Southeast Asia by stumping up the cash for Kurio’s Series B round, which values the Indonesian startup at around $12 million, according to a filing.
Nikkei — MUMBAI: Wipro, India’s third-largest outsourcing company, has invested an undisclosed amount in U.S. startup Emailage that helps firms identify e-mail fraud, as Indian software exporters rush to partner with startups across the globe for access to new technologies and ideas.
Bloomberg — Not happy with your nose and want to check out the nearest plastic surgery center? There’s an app for that in China and it lets you share before and after photos with other users. SoYoung Technology (Beijing) Co., the developer of the application, has attracted Tencent Holdings Ltd. in a financing round of $50 million, according to a statement from the company on Monday.
Tech in Asia — Alibaba today announced that it has signed a deal with several international banks for a US$3 billion loan to fuel its expansion and acquisition efforts over the next five years. Reuters broke the news on the loan, saying the deal was coordinted by a number of major financial institutions, including Citigroup, Goldman Sachs, and Morgan Stanley.
Tech in Asia — Indian online travel venture ibibo Group has a quarter of a billion reasons to celebrate. Last night, it announced that South African global internet and media company Naspers Group will be pouring another US$250 million of investment into the group. Ibibo is a joint venture between Naspers and Chinese internet giant Tencent.
China Tech News — U.S.-based hard drive manufacturer Western Digital Corp. announced that China’s Unisplendour Corporation has cancelled the USD3.775 billion investment agreement it originally reached in September 2015. According to the agreement, Unisplendour and its fully-owned subsidiary UNIS Union Information System Limited would subscribe Western Digital’s 40.815 million new shares at the price of USD92.5 per share and the total transaction value would reach USD3.775 billion.
Times of India — HYDERABAD: Global e-commerce giant Amazon has decided to set up its second largest global delivery centre outside the US in Hyderabad, which could attract a large portion of its proposed investments of $2 billion into India. The move comes a year after the Seattle-based online marketplace firm’s decision to build one of its largest Indian fulfilment centre (warehouse) over an area of 2,80,000 sq ft near Hyderabad.
Telecom Asia — Malaysia’s Digi Telecommunications has allocated 904 million ringgit ($217.6 million) in capex for 2016, to pursue expansion projects including the rollout of VoLTE and VoWiFi. The operator has roughly maintained its capex budget at the same size as 2015, The Star Online reported. Digi is currently testing voice over LTE and Wi-Fi technologies and anticipates a commercial launch this year, according to chief marketing officer Christian Thrane.
Times of India — BENGALURU: Flipkart will spend more on technology this year, as it ramps up its online capabilities, especially in mobile, thereby boosting the headcount of its technology and engineering teams by at least half. This comes at a time when India’s largest ecommerce firm is locked in a battle for supremacy with arch rivals Amazon and Snapdeal.