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Asia tech news roundup – Nov 27

Asia tech news roundup – Nov 27

Asia tech news roundup – Nov 27
November 28
03:24 2017

India’s Sachin Tendulkar defends the wicket during a cricket match against Australia in 2010. Photo credit: Pulkit Sinha.

Funding for a Sachin Tendulkar-backed startup, questions over Ofo’s latest capital raise, and a seemingly big win for Elon Musk and Tesla. Here are some of the top Asia-Pacific stories from today and over the weekend.

Media and entertainment

Smaaash raises over US$10 million (India). Sixth Sense Ventures is leading the round with a US$3.86 million investment, with another US$6.65 million coming from several high-net-worth individuals. The virtual reality gaming and entertainment startup counts cricket megastar Sachin Tendulkar as one of its existing backers. (The Economic Times)


Truck-sharing apps to merge (China). Huochebang and Yunmanman – two startups offering “Uber-for-trucks” platforms so companies can tap unused haulage space – have agreed to a merger deal that would value the combined business at around US$2 billion. (Bloomberg)

Question mark over Ofo’s US$700 million series E fundraise (China). Reports have suggested friction between the bike-sharing firm and Didi Chuxing, a lead investor in its series E funding round, over the supposed wasteful use of funds by Ofo’s senior management. Ofo has denied the claims. (Technode)


Ofo bikes. Photo credit: Ofo.


UnionPay QR code payments to arrive in malls next year (Singapore). Shoppers will be able to use the Chinese payments firm’s QR code system in all six Singaporean shopping centers run by AsiaMalls. UnionPay CEO Cai Jianbo said the deal between his company and AsiaMalls would establish acceptance of UnionPay QR code payments on a sizeable scale in the city-state. (The Straits Times)

No plans to appoint official cryptocurrency exchange, says central bank (Malaysia). Bank Negara Malaysia has denied it will appoint an operator as the country’s sole official cryptocurrency exchange after reports emerged suggesting that Singapore-based Luno had been picked for the job. The central bank said last week it will begin regulating cryptocurrency trading under anti-money laundering and anti-terrorism laws. (e27)

Rooftop club to trial cryptocurrency payments (Singapore). Skyline, a lounge bar on the top floor of downtown Singapore’s Land Tower, will accept payments in Ether for food and drinks for two days. The trial coincides with the BlockShow Asia blockchain conference, which will be held in the city later this week. (Skyline)


Copyright: <a href=''>tummataivas / 123RF Stock Photo</a>

Tesla electric vehicle charging points. Photo credit: tummataivas / 123RF.

Elon Musk wins a big bet (Australia). The tech billionaire’s firm Tesla has completed construction of the world’s largest lithium-ion battery to provide power for South Australia. Musk had promised the state’s government that Tesla would have the battery ready and working within 100 days, or he would give it to the state for free. (Reuters)

Consumer tech

Starhub teams up with Nokia (Singapore). The telco and the Finnish company have agreed to collaborate on internet of things research and development around vehicles, buildings, and home living. In particular, Nokia will assist StarHub in relation to “smart” car parking, environmental sensors, and video analytics. (The Straits Times)

Startup business

New tax regime in the works (India). The Indian government is reportedly considering a shakeup of its tax policy for startups in an effort to attract and retain entrepreneurial enterprises. The reforms are thought to include a range of cuts, exemptions, and incentives for startups and investors. (Inc42)

source : techinasia

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