Indonesia’s Kargo comes out of stealth with $7.6M from Travis Kalanick, Sequoia and others

Travis Kalanick may be busy cooking up a cloud kitchen business, but that hasn’t stopped the former Uber CEO’s VC fund from making its first investment in Southeast Asia. 10100, the firm that Kalanick launched last year for investments in Asia, just took part in a $7.6 million seed round for Kargo, an early-stage “Uber […]

The Khashoggi murder isn’t stopping SoftBank’s Vision Fund

Money talks in the startup community, especially when SoftBank comes knocking with the megabucks of its Vision Fund. Despite the public outcry around the firm’s dependence on money from Saudi Arabia in the wake of that country’s assassination of Washington Post journalist Jamal Khashoggi, deal flow for SoftBank’s Vision Fund appears to be back to […]

Go-Jek pulls in $100M more for its massive Series F round

U.S. ride-hailing giants Lyft and Uber are going public in the U.S. imminently, but in Southeast Asia, the two largest on-demand companies are still madly fueling up on investment capital. The latest update to that story today saw Go-Jek, the Indonesian ride-hailing firm aiming to go regional in Southeast Asia, announce that it has pulled […]

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 […]

First China, now Starbucks gets an ambitious VC-funded rival in Indonesia

Asia’s venture capital-backed startups are gunning for Starbucks . In China, the U.S. coffee giant is being pushed by Luckin Coffee, a $2.2 billion challenger surfing China’s on-demand wave, and on the real estate side, where WeWork China has just unveiled an on-demand product that could tempt people who go to Starbucks to kill time or […]

Go-Jek makes first close of Series F round at $9.5B valuation

Go-Jek, the Indonesia-based ride-hailing company that is challenging Grab in Southeast Asia, has announced the first close of its Series F round, as TechCrunch reported last week. The company isn’t revealing numbers. Sources told us last week that it has closed around $920 million, but we understand that today the round is at more than $1 […]

Grab raises $200M from Thailand-based retail conglomerate Central Group

Grab’s fundraising push continues unabated after the Southeast Asian ride-hailing firm announced that it has raised $200 million from Central Group, a retail conglomerate based in Thailand. Central’s business covers restaurants, hotels and more than 30 malls in Thailand, while it has operations in markets that include Vietnam and Indonesia. Its public-listed holding companies alone are worth more […]

Southeast Asia’s Grab is adding Netflix-like video streaming to its ride-hailing app

Grab is Southeast Asia’s top ride-hailing firm thanks to its acquisition of Uber’s local business last year. Its biggest competitor gone, the company is on a push to go beyond transport and become an everyday “super app” — and that strategy just embraced video streaming today. That’s because Grab is integrating video-on-demand service HOOQ — […]

Go-Jek makes first close of $2 billion round at $9.5 billion valuation

Southeast Asia-based ridesharing firm Go-Jek is making progress with its plan to raise up to $2 billion in fresh capital to fund its battle with close rival Grab. Indonesia-headquartered Go-Jek has closed an initial chunk of that round after a collection of existing investors, including Google, Tencent and JD.com, agreed to invest around $920 million toward […]

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 […]