Chinese taxiappbolaget Didi Chuxing receive additional $ 605 million in financing. This time it is the country's largest insurer China Life which injects capital, writes Tech in Asia. Read more: Uber takes in 30 billion - from Saudi Arabia It is not the first time that China Life invests money in the sector, already the company is also an investor in Uber. It happened in January when a group of Chinese business investors a total of $ 2 billion in übers global operations. Didi Chuxing its part highlighted recently when Apple chose to go in with $ 1 billion, or just over 8 billion in the company. Di Digital / Finwire Read more: Bluffing, fractions and fines - so went there for Uber Pop Comment: Uber acted stupidly
China's ever-present grip on the Internet and everything related to it just got a little tighter.In an effort to crackdown on popular media, mobile game developers must get their games pre-approved by the Chinese government before launching them in the nation.The rule went into effect today, though it was first announced in early June.To avoid running afoul of the new regulations, developers must submit their games to China s State Administration of Press, Publications, Radio, Film and Television, more commonly called SAPPRFT," at least 20 days before launch.The new requirement applies to all mobile games intended for launch in China, and involves a ridiculously convoluted system of red tape and waiting which may not ultimately prove successful.As noted by Tech in Asia, developers, upon completing their game, have to submit it and any applicable licenses and permits to their provincial government authority, which will spend a week deciding whether the game is complete.
The former CEO and MD of Infosys says Brexit could affect free movement of labour.While financial markets have mostly recoiled from the Brexit surprise, many tech leaders are still worried about the aftermath.The UK's historic vote to leave the European Union last month sent shock waves around the world, rattled global markets and sparked a cacophony of opinions about its damaging impact on different sectors.While many UK-based technology companies and investors have spoken out on the negative impact on the global tech sector, both before and after the vote, other industry voices beyond the UK are now expressing their own concerns about the shocking decision and its potential consequences.IBTimes UK had a chat with Kris Gopalakrishnan, one of the seven co-founders of global IT firm Infosys, at the Tech In Asia conference in Bangalore on 6 July.Founded back in 1981, Infosys is known as one of India's most successful startups and its second largest software exporter with a chunk of its revenues flowing in from Europe.
We ve seen... er, heard, Google s artificial intelligence engine, Tensor Flow, help project Magenta compose original music in stunning fashion.Now, it s time for Google s Chinese counterpart, Baidu, to give it a shot.As illustrated in the clip above, Baidu s latest AI is able to study images and create compelling, original music that fits the image.In a recent interview with Tech in Asia, a Baidu representative said its AI creates music by deconstructing the various elements of an image then studies the individual elements think colors, structures, people and so on .Based on its analysis, the AI is able to determine the mood and sense of the image.It then leans on a massive database of musical scores that are categorized based on the type of emotion they personify.
Volvo's former country manager in china, Freeman Shen in a Volvo.The chinese WM Engine, led by Volvo's former country manager in china, Freeman Shen, has in its first kapitalrunda taken in a billion dollars.This is according to Tech in Asia.Freeman Shen is also known from his work on Geely in connection with the Volvo was taken over from Ford in 2010.the Size of the investment means a new record in China, given a a-round, thus a first financing round in a new company.who invests in the company is still unknown.
Chinese tech giant Xiaomi is about to get into the robot vacuum business with the launch of its own Roomba rival, a set of recently leaked images suggests.With a slew of other gadgets and gizmos already to its name, the idea that the Beijing-based company might launch its own Roomba-like machine doesn t come as a huge surprise, though the company is yet to announce anything official regarding the possibility.Photos posted recently on a message board in China show cardboard packaging with a printed image of what appears to be a robot vacuum, while another box clearly shows Xiaomi s Mi branding, Tech in Asia reported.The leaked material also offers a screenshot purporting to be from a Mi Home Vacuum Robot app that shows what looks like a floor map, indicating that its owner would be able to see the exact movements of the machine while they were out – a feature common to a number of other robot vacuums already on the market.In addition, the app includes data on battery levels and time spent cleaning, and also incorporates buttons offering various options such as return to charger, clean out, and power.Insiders claiming to have knowledge of Xiaomi s rumored cleaner suggested it uses laser guidance and will be assembled by manufacturing giant Foxconn, Tech in Asia said.
Airbnb Inc. s public debut won t happen anytime soon as the company is still focused on growth and overcoming regulatory challenges, said Jeff Jordan, the Andreessen Horowitz partner on the board of the online home-booking company.The San Francisco-based company is still in a hyper-growth stage, Jordan said in an interview on Thursday.Next year is probably too optimistic because management hasn t prepared for a market debut and more time is needed to resolve regulatory hurdles, he said.The growth rate says it s still early, Jordan said on the sidelines of the Tech in Asia Tokyo conference, without giving a specific timeline for a debut.You don t just magically go public.There s work to be done behind the scenes.Fears are growing that the technology IPO pipeline is backing up.
Samsung has launched a new fund for young startups active in the leading technologies like artificial intelligence, virtual reality and the internet-of-things.It writes Tech in Asia.With 150 million dollars, equivalent to 1.3 billion, at its disposal plan new Samsung Next Fund to participate in everything from såddrundor to the funding rounds of the type Series B.The new fund, which was unveiled during the CES show in Las Vegas, has already managed to add ten companies to its portfolio: Converge Industries, Dashbot, Entry Point VR, Filaments, Intezer, LiquidSky, Otto, Radio, 2Sens, SafeDK and Virtru.Separately, Samsung Next also to the company to open an office in Tel Aviv, suggesting an increased focus on israeli startups later in the year.the Samsung Next was founded in 2013 and has the task to place money in startups that are at an early stage of development.
It is about a marketplace that will offer businesses the ability to hire temporary staff, writes Tech in Asia.Ushift will target Southeast asia, with initial launch in Singapore on 16 January.the Initiative in the region takes place against the background of a perception that the existing recruitment processes which are flawed.the association of southeast Asian companies operating in industries which, at times, require additional personnel manages in the day to their work through either Facebook or oral recommendation, writing tekniksajten.Noteworthy in this context is that Rocket Internet with Ushift choose to launch a completely new concept on their own.the Company is usually known for having as their mission to copy, and then apply previously successful concepts in other markets.
Editor s note: This originally appeared on Analyse Asia, a weekly podcast hosted by Bernard Leong, dedicated to dissecting the pulse of business, technology, and media in Asia.The podcast features guests from Asia s vibrant tech community.Eva Xiao, China reporter for Tech In Asia joined us to discuss an interesting video and entertainment company from China, Musical.ly and how it has skipped the domestic market and built a massive following from US, Europe and rest of the world with an impressive portfolio of investors from Silicon Valley and China.She provided a comprehensive overview of the company, the founders: Louis Yang and Alex Chu and the back story in how Musical.ly become one of the big apps that most teens across the world use.Listen to the episode here or subscribe.Here are the interesting show notes and links to the discussion with time-stamps included :Eva Xiao, China Reporter in Tech In Asia @evawxiao, LinkedIn, Wechat: evawxiao, Tech In Asia What are the interesting topics you have covered recently with Tech in Asia?1:03 WeChat – the launch of Wechat mini-programs on 9 Jan 2017.1:20 Blockchain – the rise of blockchain technology startups in China focusing on anti-fraud for luxury brands, red wines and digital properties such as stock images.3:43 Origin story: education videos to 15-second video social networkCurrent products: Musical.ly iTunes, Android and Live.ly iTunes, Android .Over 130 million registered users, 40 million MAUsCoverage in New York Times, TechCrunch.What s the mission and vision of the company?
Chinese Ant Financial, which is controlled by the e-handelsjätten Alibaba and its founder Jack Ma, is in the process of investing 200 million dollars in south Korean Kakao Pay.It writes Tech in Asia.Cocoa Pay is an payment service that the popular messaging service Kakao Talk is behind.the Ant Financial commented on the placement as a way to broaden their range of digital financial services through Kakao Pay in south Korea.south Korea is an important market for Ant Financial in its global expansion, and we see many market opportunities for innovative services and the growth in mobile payments , said Douglas Feagin, general manager of Ant Financial's International.south Korea has with its 88 per cent of the total population the largest percentage ownership share what comes to smartphones.
The well-known Silicon Valley-based accelerator Y Combinator is launching a startupskola, writes Tech in Asia.It is about a ten-week-long teaching on the net with well-known profiles as a lecturer.Among them are WhatsApp's ceo, Jan Koum, Facebook's director of growth, Alex Schultz and Reddits ceo Steve Huffman.The Y Combinator start is a so-called massive open online course (MMOC) which means that students get free education online.the Lectures will cover topics such as how to get ideas, build a product, build a business and bring in money.All lectures will be recorded by Stanford University.
It writes Tech in Asia.It is about a ten-week-long teaching on the net with well-known profiles as a lecturer.Among them are WhatsApp's ceo, Jan Koum, Facebook's director of growth, Alex Schultz and Reddits ceo Steve Huffman.the Lectures will cover topics such as how to get ideas, build a product, build a business and bring in money.All lectures will be recorded by Stanford University.the Course starts on 5 april.
Alibaba strengthens the grip over the indian Paytm.The chinese e-handelsjätten buy Reliance Capital's stake in One97, the parent company of Paytm, to 380 million, according to Tech in Asia that refers to the sources.Last week, Alibaba's controlling owner in Paytm after leading a investeringsrunda of sek 1.8 billion.Alibaba contributed with sek 1.6 billion and thus increased its ownership from 40% to 60%.The recent deal with Reliance Capital, has not yet been confirmed.Reliance Capital is a financial body subject to businessman Anil Ambanis Reliance Group.
Chinese Hypereal is ready to challenge Oculus and other established players in the virtual reality.yesterday, the group launched a series of new products in the field, writes Tech in Asia.Hypereal shows up a new headset, wireless controllers and cameras for position tracking.The most eye-catching was the headset that goes under the name of the Pano.It offers include an oled screen in 2K and a field of view of 120 degrees.the price tag on 363 dollars is only a fraction of it for the Oculus Rift or the HTC Vive, stressed tekniksajten.
Facebook officially established its presence in Indonesia on Monday by becoming a permanent business entity, three years after opening a representative office in the country where it has 115 million users.According to Tech in Asia, the move comes as the Indonesian government is tightening up regulations and is currently drawing up rules to determine how global technology companies can do business in the country.Despite becoming a permanent business entity, Facebook however, declined to reveal what kind of business they were running.The license it currently has, is for a management consulting business, which is unsuitable for the company as its main source of revenue is advertising“Our investment in Indonesia is a priority.This is a big market for us.
In 2015, Infinium Robotics stepped into the spotlight after showing off what its indoor drones could do at a popular restaurant in Singapore.Infinium CEO Junyang Woon was charged by the Ministry of Manpower (MOM) in April for four counts of failing to pay salaries to employees upon the termination of their contracts.In an exclusive interview with Tech in Asia, Woon revealed that his company has been slapped with a US$5,120 fine by a Singapore court, marking the conclusion of the case.Woon expressed relief that the decision has finally brought closure to the matter.Despite all the good press, three former employees we spoke with said their salaries had been delayed for months until the company stopped paying them altogether in June 2016.“[The delays] got longer and longer, and at some point he just stopped paying.”
Obike, a bike-sharing startup born in Singapore, secured a massive US$45 million in its latest fund raise.That makes it one of the largest series B rounds on record in Southeast Asia, according to Tech in Asia data.In a press release, the startup says that investors include a “leading global transportation platform,” Grishin Robotics, a venture capital firm founded by Dmitry Grishin, who is the co-founder and chairman of Russia’s Mail.Ru Group, as well as several family offices in Southeast Asia.Edward Chen, chief marketing officer and co-founder of Obike, declined to reveal the identity of the “transportaiton platform” that participated in the financing.He told Tech in Asia that Obike and this investor “share a common goal in providing convenient, seamless mode of transportation in urbanized cities through the use of technology.”Obike plans to use the funds raised in this round for international expansion.
Do you remember how your startup was formed—all the trials and tribulations, the highs and lows?But this is your investor pitch – something you should master.We helped you do some groundwork and sought the input of actual investors (who will also be present at Tech in Asia Tokyo 2017 to hear you pitch at our Speed Dating sessions).Regardless of how long it is, you should finish before the bell rings.“Please end the pitch before [the deadline] so that we have some time for questions and answers,” said Quest Ventures.Singapore-based venture capitalist firm Rebright Partners tells entrepreneurs to always show their product first before focusing on the founders, the story, and other aspects of the business.
Ready for a dose of marketing and public relations jobs?This list will feature exciting career opportunities that have recently opened up from companies on Tech in Asia Jobs.Click to find out more and apply away!Seicenta is a simple website builder for people with something to say.The company wants to give everyone, regardless of where you are from and which degrees you have, the ability to have work in an ambitious startup and have trust in the future.Requirements: At least 1 – 4 years of experience in digital marketing.