It plans to build a robust network of community leaders on its platform and expand its supply chain tailored for smaller cities. Start-up – Innovation
Category: Startup
Alibaba-backed Xpressbees secures $110m in new funding
Private equity funds Investcorp, Norwest Venture Partners, and Gaja Capital together invested the amount to acquire a 31% stake in the logistics startup. Start-up – Innovation
Alibaba’s big play into gaming
Our top articles of the week look at Alibaba’s new online gaming push which is finally scoring a win and the departure of more partners from SoftBank’s Vision Fund. Start-up – Innovation
A US$2 billion injection for a recovering industry
The companies that raised the most this week: Dmall, Bukalapak, Rivigo, and more. Start-up – Innovation
Hummingbird Ventures raises $200m for seed, opportunity funds
The EU-based VC firm allocated US$60 million for its seed fund HV4 and US$140 million for its new opportunity fund. Start-up – Innovation
Tech execs’ angel network, Altair invest $3m in Singaporean business services startup
The startup plans to further develop its engineering, product development, and marketing efforts across its different markets. Start-up – Innovation
Visa partners with Vietnam’s Nexttech Group to promote digital payments adoption
The initiative includes creating convenient means for online payments through links on social networks and other online platforms. Start-up – Innovation
Ant Group suspends Hong Kong listing after Shanghai exchange halts IPO
China’s regulators notified the company about the suspension, citing how it didn’t meet the listing qualifications or disclosure requirements. Start-up – Innovation
Accel, Vertex Ventures infuse fresh funds into Indian social commerce startup GlowRoad
GlowRoad has raised US$7 million in a fresh funding round from Accel, Singapore-based Vertex Ventures, and IND Fund. Start-up – Innovation
Hong Kong fintech startup Statrys nets $5m in angel round
It will target new markets in Southeast Asia, including Singapore, Thailand, and Indonesia. Start-up – Innovation