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A DJI Inspire 1 drone / Photo credit: DFSB SE / flickr

Here’s a wrap of the day’s news, including investments in fintech, logistics, and healthcare startups, as well as new funds and partnerships in the VC industry.

Robotics and drones

DJI seeks US$500 million in pre-IPO funding (China). The Shenzhen-based dronemaker is reportedly in talks with investors to secure the investment through a combination of new equity and debt to take its valuation above US$15 billion. DJI, which holds a 70 percent share of the global market in commercial and consumer drones, is said to be planning a stock market listing in either mainland China or Hong Kong next year. (Reuters)


Ansarada nets US$19 million (Australia). The startup collects and analyses data from business-critical events using AI, helping investors, corporates, and financial advisors identify potential opportunities and risks and close deals. Ellerston Capital led the round with participation from Australian Ethical Investments, Belay Capital, and Tempus Partners. Sydney-based Ansarada will use the capital to rollout new products. (DealStreetAsia)

StashAway banks US$5.3 million in series A round (Singapore). The robo-advisor secured the funding from a group of family offices, including that of former Temasek executive and Asia Capital & Advisors founder Francis Rozario. StashAway will use the funds to further develop of its AI tech and launch its service in one new Asia-Pacific market later this year. (Tech in Asia)


Ola auto-rickshaw drivers / Photo credit: Ola

Ola drivers call off strike, Uber picket lines stay standing (India). Drivers working for Ola in Mumbai have called off the strike they have been observing for the past few days after the ride-hailing firm said it would address the drivers’ demands within 20 days. Reportedly, Uber is yet to engage with its drivers, who remain on strike in cities throughout India. (Inc42)

Meituan-Dianping sent to headmaster’s office on first day (China). The ecommerce firm officially launched its ride-hailing service yesterday in a direct challenge to dominant player Didi Chuxing. However, authorities in Shanghai – the service’s debut city – summoned Meituan to on the same day to issue it with a warning that it must adhere to local regulations. (Technode)

Health and well-being

SoYoung scores again following US$63 million round (China). The app allows users to book cosmetic surgery appointments and hear about other users’ treatment experiences. It has reportedly raised tens of millions of dollars in fresh funding from undisclosed investors, a little over two months since securing US$63 million in a “series D1” round led by Apax Partners and CDH Investments. (KrAsia)

Delivery and logistics

Logivan recieves US$600,000 seed funding from Insignia Ventures Partners (Vietnam). The VC firm founded by former Sequoia Capital partner Tan Yinglan was the sole disclosed investor. Hanoi-based Logivan is a logistics platform linking businesses that need to ship a few tons of cargo directly to truckers and delivery firms. (e27)

Investors, incubators, and accelerators

John Sharp and Seb

Hatcher+ co-founder John Sharp (L) and BlueChilli CEO Sebastien Eckersley-Maslin (R) / Photo credit: Hatcher+

Hatcher+ seals three-year partnership deal with BlueChilli (Singapore/Australia). Sydney-based accelerator BlueChilli is partnering with Singaporean AI-driven VC firm Hatcher+ to co-invest in and build 240 startups through the latter’s H2 fund. Hatcher+ is aiming to raise US$125 million for the fund, and is targeting investments in around 1,000 startups worldwide. (Hatcher+)

State funds to pool US$250 million for tech investments (Malaysia). Malaysian sovereign wealth fund Khazanah Nasional and pension fund Kumpulan Wang Persaraan will contribute the money to a “fund of funds” that will back VC firms to make investments in promising Malaysian tech startups. The Malaysian authorities are looking to emulate Malaysia is looking to emulate the Singaporean model, under which the city-state’s National Research Foundation has allotted tens of millions of dollars to several VC firms. (DealStreetAsia)

Yahoo Japan taps Indonesian VC cash and expertise for new fund (Indonesia/Japan). Indonesian VC firms Sinar Mas and East Ventures have entered a joint venture with Yahoo Japan to form EV Growth, a VC fund that will target investments of US$5 million to US$15 million in startups at series B and above.  EV Growth has already received US$100 million of its US$150 million fundraise target, with the money coming from the three joint venture partners. (DealStreetAsia)

This post Asia news roundup: DJI seeks $500m, while Ansarada, Logivan, and StashAway secure funding appeared first on Tech in Asia.

Tech in Asia




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