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 […]

AI training and social network content moderation services bring TaskUs a $250 million windfall

TaskUs, the business process outsourcing service that moderates content, annotates information and handles back office customer support for some of the world’s largest tech companies, has raised $250 million in an investment from funds managed by the New York-based private equity giant, Blackstone Group. It’s been ten years since TaskUs was founded with a $20,000 investment […]

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, […]

Golden Gate Ventures hits first close on new $100M fund for Southeast Asia

One of the fascinating things about watching an emerging startup ecosystem is that it isn’t just companies that are scaling, the very VC firms that feed them are growing, too. That’s perhaps best embodied by Golden Gate Ventures, a Singapore-based firm founded by three Silicon Valley entrepreneurs in 2011 which is about to close a huge […]

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 […]

Korean hotel firm Yanolja moves into Southeast Asia with $15M investment in Zen Rooms

Zen Rooms, the budget hotel network startup founded by Rocket Internet, had faced the deadpool earlier this year after a prospective funding deal collapsed, but now the business appears to have found a home. Korea’s Yanolja, a popular motel brand that has branched out into app-based hotel bookings, has made a strategic investment that could see it […]

Kredivo raises $30M to build a digital credit card for Southeast Asia

FinAccel, a Southeast Asia-based startup that offers a digital credit card service in Indonesia, has closed a $30 million Series B round as it begins to consider overseas expansion. The company launched its ‘Kredivo’ service two years ago to help consumers pay online in Southeast Asia, where credit card penetration is typically low, and it is essentially […]

Light raises $121M led by SoftBank as it prepares to bring its camera tech to smartphones

Camera technology company Light is the latest to do the money dance with SoftBank’s massive Vision Fund after it raised a $121 million Series D round. The funding round was led by Vision Fund, the near-$100 billion fund anchored by SoftBank, with participation from consumer camera giant Leica Camera AG. Today’s announcement takes Light to around $186 […]

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 […]