Asia tech news roundup – Nov 9

Copyright: bingfengwu / 123RF Stock Photo

Shenzhen, Tencent’s hometown. Photo credit: bingfengwu / 123RF.

Tencent has been in the headlines again today, investing big sums into electric vehicle (EV) maker Nio and Snapchat parent Snap. Indonesian startups StickEarn and OnlinePajak also nabbed funding.

Marketing and advertising

StickEarn secures US$1 million seed funding (Indonesia). East Ventures invested in the Jakarta startup, which provides a mobile platform that allows brands to place their ads in cars and other vehicles and monitor their whereabouts. (Tech in Asia)

Photo credit: StickEarn.

Enterprise services

OnlinePajak gets US$3 million to US$5 million in series A round (Indonesia). The startup has developed an app that helps corporate taxpayers manage their tax payments, invoices, and employee payroll. Alpha JWC led the round, with Sequoia Capital taking part. (DealStreetAsia)

Qubole raises US$25 million strategic round (India). Singtel’s Innov8 venture arm and Harmony Partners co-led the round, with existing investors Charles River Ventures, Lightspeed Venture Partners, Norwest Venture Partners, and Institutional Venture Partners returning to up their stakes. Qubole provides an AI-driven big data analytics platform, and will use the funding to expand its worldwide business. (Qubole)

Itilite Technologies closes seed round (India). The Bengaluru-based travel management startup has raised an undisclosed amount of seed capital from Matrix Partners and several angel investors. (Livemint)


Nio EP9 Vision. Photo credit: Nio NextEV.

Nio raises more than US$1 billion in Tencent-led round (China). The electric car manufacturer – previously known as NextEV – is valued at over US$5 billion following the investment. Lone Pine Capital, CITIC Capital, and Baillie Gifford were among the other participants in the round. (Reuters)

Meanwhile, Tencent rival Baidu is rumored to have backed WM Motor (China). The Beijing-based EV startup is said to have raised US$140 million from investors led by internet giant Baidu. Tencent is also thought to have joined in the round. (China Money Network)


Three startups join forces to offer integrated ecommerce solutions (Singapore). Online store builder Shopmatic, payments gateway Red Dot Payment, and logistics manager iCommerce Asia have been brought together by International Enterprise Singapore to provide an end-to-end service for businesses that want to begin selling on the internet. The trio have already signed a deal for their joint solution worth more than US$73,000. (IE Singapore)

Media receives US$50 million from Toutiao (China/US). Personalized news service Toutiao has invested in the US livestreaming platform, as the popularity of live video grows worldwide. (China Money Network)

Investors, accelerators, and incubators


Photo credit: Adam Przezdziek.

Tencent invests US$2.1 billion in Snap (China/US). The Chinese company has acquired a 10 percent stake in the firm behind Snapchat, which recently reported a disappointing quarter of with lower-than-expected revenue and user numbers. Tencent indicated it will work with Snap on gaming content and ads. (CNBC)

Airbnb commits US$2 million to Asia-Pacific investment (Vietnam). The rentals portal wants to invest US$2 million in businesses and other organizations pursuing “innovative tourism projects” in the region over the next three years. It unveiled its plans at the APAC CEO Summit in Da Nang. (Airbnb)

source : techinasia

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