Alibaba confirms it raised $3B for its newly consolidated local services business

Alibaba has confirmed that it has raised $3 billion for its new-look local services business after it united its Koubei local services business with Ele.me, the on-demand delivery business it recently acquired. The company said it put the capital into the business alongside SoftBank, according to a note within its financial results that were released today. […]

Sequoia wraps up new $695M fund for India and Southeast Asia

Sequoia has announced the close of its newest fund for India and Southeast Asia. The firm has raised $695 million for this fund, which is its fifth since it expanded into India 12 years ago. Reports at the beginning of this year suggested that the firm was shooting for a $1 billion fund, perhaps influenced by […]

SoftBank’s Vision Fund to help Chinese online insurance giant ZhongAn go international

SoftBank’s Vision Fund is backing Chinese online insurance giant ZhongAn through its latest investment, which could take the company — which has struggled for stability following a monster IPO last year — into international markets. The Vision Fund announced today it has made an undisclosed investment in ZhongAn International, the global arm of the five-year-old company created by $200 […]

China’s Didi beefs up its newly-independent car services business with an acquisition

A week after spinning out its driver services business and giving it $1 billion in investment capital, Didi Chuxing has added to it through an acquisition. Xiaoju Automobile Solutions (XAS), which the Didi spinout is called, announced today it has bought Hiservice, a three-year-old company that provides after-service care for car owners using a digital platform. […]

India’s budget hotel network OYO moves into wedding banquet services

OYO Rooms, the India-based budget hotel network that’s backed by SoftBank’s Vision fund, has prioritized expansion into China this year but that’s not all it’s up to. Back home in India, it just moved into the event hosting space through the acquisition of a wedding banquet company. Today, OYO said it has acquired Weddingz.in, a three-year-old company that […]

Grab picks up $2 billion more to fuel growth in post-Uber Southeast Asia

Grab, the ride-hailing service that struck a deal to take Uber out of Southeast Asia, has announced that it has pulled in $2 billion in new capital as it seeks to go beyond ride-hailing to offer more on-demand services. The $2 billion figure includes a $1 billion investment from Toyota which was announced in June, […]

WeWork China raises $500M to triple the number of cities it covers

WeWork’s China business is getting a fresh injection of capital after it raised $500 million. The company entered China two years ago and today it covers Beijing, Shanghai and Chengdu with nearly 40 locations. It claims 20,000 members, and it is also active in Hong Kong, which technically falls under ‘Greater China.’ The new capital […]

Tiger Global reportedly pours more than $1B into SoftBank, saying its shares are “undervalued”

Tiger Global has poured more than $1 billion into SoftBank Group, according to the Financial Times. The newspaper reports that the firm told investors SoftBank’s shares are “meaningfully undervalued.” In response to a request for comment, SoftBank sent the same statement to TechCrunch as other media outlets: “We continue to believe the market significantly undervalues […]

SoftBank Vision Fund leads $250M Series D for Cohesity’s hyperconverged data platform

San Jose-based Cohesity has closed an oversubscribed $250M Series D funding round led by SoftBank’s Vision Fund, bringing its total raised to date to $410M. The enterprise software company offers a hyperconverged data platform for storing and managing all the secondary data created outside of production apps. In a press release today it notes this […]

Indonesia’s EV Hive raises $20M for its co-working business to rival WeWork

WeWork is setting its sights on Southeast Asia, but that isn’t stopping local rivals from building up there business. In Indonesia, EV Hive — a co-working brand first started by a VC firm — has pulled in $20 million for expansion as its U.S.-based rival increases its focus on Indonesia. The company was founded in […]