Travel activities platform Klook raises $225M led by SoftBank’s Vision Fund

We recently noted that SoftBank’s Vision Fund has stepped up its deal-making in Asia this year, and today it added a new company to its roster: travel services platform Klook. Hong Kong-based Klook announced today that it has raised a $225 million round led by the Vision Fund with participation from existing investors. The deal […]

India’s Ola spins out a dedicated EV business — and it just raised $56M from investors

Ola, Uber’s key rival in India, is doubling down on electric vehicles after it spun out a dedicated business, which has pulled in $56 million in early funding. The unit is named Ola Electric Mobility and is described as being an independent business that’s backed by Ola. TechCrunch understands Ola provided founding capital, and it […]

SoftBank’s Vision Fund invests $1.5B in Chinese second-hand car startup Chehaoduo

SoftBank’s Vision Fund is taking a bet on China’s auto market after it agreed to pour $1.5 billion into online car trading group Chehaoduo, which literally means “many cars” in Chinese. The Beijing-based company operates two main sites — peer-to-peer online marketplace Guazi for used vehicles, and Maodou, which retails new sedans through direct sales […]

VCs give us their predictions for startups and tech in Southeast Asia in 2019

The new year is well underway and, before January is out, we polled VCs in Southeast Asia to get their thoughts on what to expect in 2019. The number of VCs in the region has increased massively in recent years, in no small part due to forecasts of growth in the tech space as internet […]

SoftBank’s Vision Fund is preparing to invest $1 billion in Grab

SoftBank’s Vision Fund is set to continue its recent spree of investments in Asian tech unicorns. The mega fund — which is targeted at $100 billion — is planning to invest upwards of $1 billion into Southeast Asia’s ride-hailing leader Grab, two sources with knowledge of the plan told TechCrunch. The investment could reach as much […]

Foxconn or Foxgone? Tariffs, Wisconsin and iPhone fires

First some notes on SoftBank’s rumored expansion into China and its weird fund math, then Foxconn and then quick notes on tech depression, Huawei and more. TechCrunch is experimenting with new content forms. This is a rough draft of something new — provide your feedback directly to the author (Danny at danny@techcrunch.com) if you like […]

Southeast Asia’s Grab pulls in $200M from travel giant Booking

Fresh from a strategic investment from Microsoft, Southeast Asia’s ride-hailing leader Grab is back in the money again after it closed $200 million in fresh capital from Booking Holdings, the travel firm formerly known as Priceline. The investment is part of an ongoing round of funding that Grab said is on course to reach $3 […]

Latin America is the next stage in the race for dominance in the ride-hailing market

Nathan Lustig Contributor Nathan Lustig is an entrepreneur and managing partner at Magma Partners, a seed-stage investment fund in Santiago, Chile. More posts by this contributor Latin America’s Movile is quietly building a mobile empire Latin America’s Groupon Mafia As the number of competitors in the ride-hailing industry dwindles, geographic expansion is emerging as the […]

Taxify is entering the e-scooter game

Estonian ride-hailing company Taxify will compete with Bird and Lime in Europe with its new brand of e-scooters, called Bolt, launching in Paris on Thursday. The company has rolled the scooter sharing service into its mobile app, which has attracted 10 million users in 25 countries since it launched in August 2013. A spokesperson for […]

Google will struggle if it re-enters China, says its former country head

The odds are stacked against Google if the reports are true and the company is trying to bring its services back to China, according to the former head of Google China. News reports last month uncovered details of internal plans to introduce a search product and a news app in China, moves that would mark […]