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[Currently in BETA mode]

eleva8or introducer engine helps Startups and Investors come together efficiently

For Startups, eleva8or helps them to prepare for due-diligence to attract capital from savvy investors around the globe

For Investors, eleva8or helps to provide exposure to new and emerging Startups that fit their investment profiles

eleva8or is not crowdfunding, typically one or two Investors participate in deals

STARTUPS

INVESTORS

Messaging firm Line launches a dedicated crypto fund

On August 16, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Apps, Asia, Blockchain, Cryptocurrency, Bitcoin, blockchain, crypto, cryptocurrencies, decentralization, finance, Indonesia, Japan, korea, line corp, money, taiwan, Thailand, United States

Messaging company Line is continuing to burrow deep into the crypto space after it announced the launch of a $10 million investment fund. The fund will be operated by Line’s Korea-based blockchain subsidiary Unblock Corporation, which is tasked with research, education and other blockchain-related services. The fund will be called Unblock Ventures and it’ll initially have […]

Asian investors have plenty of cash, a hearty appetite for investments and a different approach to doing deals

On August 15, 2018Source: Asia – TechCrunchBy David Riggs
Categories: Asia, Column, TC, Venture Capital, international business

If you’re being courted by Asian investors, you’ll need to adjust the VCs’ expectations. That can be a challenging task when the parties have different perspectives on appropriate management styles and levels of control.

Chinese internet giant Tencent suffers a rare profit drop

On August 15, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Asia, Earnings, TC, China, computing, ma huateng, RSS, smartphone, Tencent, Tencent Video, world wide web

Tencent, Asia’s most valuable tech firm, delivered a surprise drop in profit on account of lower investment gains. The firm recorded strong growth with revenue up 30 percent year-on-year to reach 73.7 billion RMB ($10.7 billion) in Q2 2018. But net profit slipped by two percent annually to reach 17.9 billion RMB, or around $2.6 billion. […]

Uber is on a hiring spree in Singapore despite ‘exiting’ Southeast Asia

On August 15, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Asia, Collaborative Consumption, asia pacific, grab, Singapore, Southeast Asia, Uber

Uber agreed to sell its Southeast Asia business in March, but it isn’t leaving the region. In fact, the U.S. firm is literally doubling down with plans to more than double its staff in Singapore. That’s right. Uber is currently in the midst of a major recruitment drive that will see Singapore, the first city […]

Y Combinator is launching a startup program in China

On August 15, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Asia, TC, artificial intelligence, Baidu, Beijing, China, eric migicovsky, Microsoft, Pebble, qi lu, sam altman, TechCrunch, United States, Y Combinator, Yahoo, yc

U.S. accelerator Y Combinator is expanding to China after it announced the hiring of former Microsoft and Baidu executive Qi Lu who will develop a standalone startup program that runs on Chinese soil. Shanghai-born Lu spent 11 years with Yahoo and eight years with Microsoft before a short spell with Baidu, where he was COO and […]

Chinese Tesla rival Nio files to raise $1.8 billion in US IPO

On August 14, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Asia, Fundings & Exits, TC, analyst, Baidu, BitAuto, charging stations, China, Cisco, nio, Padmasree Warrior, Tesla, Xiaomi

Tesla may be looking to go private, but Chinese rival Nio is going the other way after it filed to raise $1.8 billion in an IPO on the New York Stock Exchange. Nio was started in 2014, initially as NextCar, by Bin Li, an entrepreneur who founded online automotive services platform Bitauto. The company is backed by Chinese […]

Singapore’s Openspace Ventures closes new $135M fund for Southeast Asia

On August 14, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Asia, Fundings & Exits, chope, FinAccel, go-jek, golden gate ventures, hian goh, LPs, openspace ventures, shane chesson, Southeast Asia, temasek

It seems like everyone is out there raising new funds in Southeast Asia. Weeks after we reported Golden Gate Ventures hit a first close on its third fund aimed at $100 million, so Openspace Ventures — the Singapore-based firm formerly known as NSI — has announced a final close of $135 million for its second […]

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

On August 14, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Apps, Asia, Collaborative Consumption, Fundings & Exits, 99, auto, carsharing, China, didi, Didi Chuxing, Softbank, SoftBank Group, transport, Uber

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. […]

WeWork China rival Ucommune raises $43.5M more at a $1.8B valuation

On August 14, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Asia, Fundings & Exits, TC, China, coworking, CrunchBase, Indonesia, London, naked hub, Southeast Asia, taiwan, ucommune, urwork, WeWork

Barely weeks after WeWork China raised $500 million, one of its main rivals is refueling its tanks too. Ucommune — the company formerly known as UrWork until a WeWork lawsuit forced a rebrand — announced its $43.5 million Series C round. Beijing-based Ucommune’s new round was led by real estate-focused investment firms Prosperity Holdings and RK […]

Observe.AI raises $8M to use artificial intelligence to improve call centers

On August 13, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Accelerator, Apps, Artificial Intelligence, Asia, artificial intelligence, business, ceo, Emergent Ventures, Hack VC, healthcare startup, liquid 2 ventures, machine learning, Manila, MGV, natural language processing, Nexus Venture Partners, observe.ai, outsourcing, Philippines, PLDT, practo, San Francisco, Talkdesk, United States, Y Combinator

Being stuck on the phone with call centers is painful. We all know this. Observe.AI is one company that wants to make the experience more bearable, and it’s raised $8 million to develop an artificial intelligence system that it believes will do just that. The funding round was led by Nexus Venture Partners, with participation from MGV, Liquid 2 […]

Tencent spinoff China Literature to buy New Classics Media for $2.2B in content consolidation play

On August 13, 2018Source: Asia – TechCrunchBy Ingrid Lunden
Categories: Asia, Entertainment, TC, china literature, New Classics Media

As the consumer appetite for digital entertainment in China continues its rapid growth, two companies are combining forces to step up their game in the space. Today, China Literature — the Tencent e-publishing venture that went public with a $1 billion IPO last November — announced that it would acquire Chinese digital production company New […]

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

On August 13, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Asia, Fundings & Exits, budget hotel network, China, india, malaysia, nepal, oyo, oyo rooms, real estate, Softbank, SoftBank Group, Tencent, wedding planner

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 […]

Three Indonesian tech unicorns unite to back digital insurance startup

On August 13, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Asia, Fundings & Exits, cleosent randing, Expedia, go-jek, Indonesia, insurance, pasarpolis, Southeast Asia, Thailand, Tokopedia, traveloka, vietnam

It’s almost unheard of to see three unicorns join forces to fund a startup, but that’s exactly what has happened in Indonesia. Ride-hailing company Go-Jek, e-commerce firm Tokopedia and travel booking startup Traveloka — each of which is valued in the billions of U.S. dollars — have come together to provide a Series A funding […]

Grab-Uber deal wins Philippines approval but ‘virtual monopolist’ concern remains

On August 10, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Asia, Transportation, grab, Uber

Grab’s acquisition of Uber’s Southeast Asia business in May has been embroiled in regulatory scrutiny, but the ride-hailing firm has some positive news after the Philippines’ regulator gave the deal the all-clear. It did so, however, whilst laying out terms to prevent the company from becoming overly dominant. Singapore’s watchdog said in July that competition […]

Qualcomm settles antitrust case in Taiwan

On August 10, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Asia, Apple, Qualcomm

Qualcomm may have lost its long-winded deal to buy NXP on account of China and it continues to battle lawsuits worldwide, but the company does have a dose of good news out of Asia today after it settled an antitrust investigation in Taiwan. The U.S. chip firm was hit with a record $773 million fine last October when […]

Neat is a challenger bank for early-stage startups and SMEs

On August 10, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Apps, Asia, Finance, Funding, challenger bank, China, CTO, dymon asia, hong kong, mastercard, monzo, Neat, Portag3 Ventures, Revolut, Starling

With the growth in cross-border payment services and ‘challenger’ bank cards for consumers, you’d be forgiven for wondering where the options are for small business — where cash is particularly precious. They do exist. One of the newer options is Neat, which is nested in Hong Kong but open for business worldwide. The startup started off […]

Musical.ly investor bets on internet radio with $17M deal for Korea’s Spoon Radio

On August 9, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Apps, Asia, Fundings & Exits, Media, Mobile, bubble motion, bytedance, Facebook, goodwater capital, Instagram, Internet Radio, Japan, korea, musical.ly, Singapore, Software, Southeast Asia, Twitter, vietnam

One of the early backers of Musical.ly, the short video app that was acquired for $1 billion, is making a major bet that internet radio is one of the next big trends in media. Goodwater Capital, one of a number of backers that won big when ByteDance acquired Musical.ly last year, has joined forces with […]

Sequoia India and Accel back on-demand scooter startup in $12.2M deal

On August 9, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Asia, Fundings & Exits, Accel, bangalore, bike rental, Bounce, electric bicycle, Hyderabad, india, last mile transportation, religion, Scooter, sharing economy, Southeast Asia, transport, ziphop

Two of India’s most prominent VCs are backing a motorbike on-demand service after Sequoia India and Accel led a $12.2 million investment in Metro Bikes. Sequoia India and Accel were joined in the round by Raghunandan G, who founded TaxiForSure which sold to Ola, among other investors. Metro Bikes started out as a luxury bike rental service […]

Walmart co-leads $500M investment in Chinese online grocery service Dada-JD Daojia

On August 9, 2018Source: Asia – TechCrunchBy Jon Russell
Categories: Asia, eCommerce, Fundings & Exits, alibaba, alibaba group, China, dada-jd daojia, e-commerce, economy, Europe, Germany, Google, grab, JD, JD.com, retail, retail stores, Software, Southeast Asia, Tencent, Uber, United States, Walmart, WeChat, Yihaodian

Walmart sold its China-based e-commerce business in 2016, but the U.S. retail giant is very much involved in the Chinese internet market through a partnership with e-commerce firm JD.com. Alibaba’s most serious rival, JD scooped up Walmart’s Yihaodian business and offered its own online retail platform to help enable Walmart to products in China, both on […]

Study flags poor-quality working conditions for remote gig workers

On August 8, 2018Source: Asia – TechCrunchBy Natasha Lomas
Categories: Asia, Policy, employment, employment law, fiverr, freelancer, gig economy, oxford university, platforms, remote work, south east asia, UK government

An Oxford University study of remote gig economy work conducted on digital platforms has highlighted poor-quality working conditions with implications for employees’ well-being. The research comes at a time when political scrutiny is increasingly falling on algorithmically controlled platforms and their societal impacts. Policymakers are also paying greater attention to the precarious reality for workers […]