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Category: Asia

Alibaba’s newest initiative aims to make Hong Kong a global AI hub

hong kong 150x150 - Alibaba’s newest initiative aims to make Hong Kong a global AI hub

Alibaba is teaming up with SenseTime, the world’s highest-valued AI startup, to launch a not-for-profit artificial intelligence lab in Hong Kong in a bid to make the city a global hub for artificial intelligence. Alibaba, which is SenseTime’s largest single investor thanks to a recent $600 million round at a valuation of $4.5 billion, is […]

Chinese bike sharing giant Mobike is making big plans for India

photo 18 06 2017 12 37 36 pm 150x150 - Chinese bike sharing giant Mobike is making big plans for India

You’d be forgiven for thinking that Chinese bike-sharing startup Mobike, which was recently acquired in a $3 billion deal, was already present in India. The company went on an aggressive global expansion spree in 2017, India wasn’t on the radar then but that’ll soon be rectified with a launch expected in early June. Mobike has […]

Jirnexu pulls in $11M for its financial comparison service in Southeast Asia

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It’s been a busy week for startup funding in Southeast Asia. Following big deals for Carro and Carousell, financial comparison startup Jirnexu is the latest to announce new capital after it closed an $11 million Series B round. The new investment comes courtesy of Japan’s SBI Group — a returning investor which led the round having co-led […]

Tencent profit jumps 61% to $3.7B as its mobile gaming business surges

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Warnings that Tencent, Asia’s highest-valued tech company, might suffer a rare poor quarter of business proved unwarranted after the company smashed analyst expectations for its latest earnings thanks to its fast-growing mobile games business. The company reported a net profit of 23.29 billion CNY ($3.7 billion) on revenue of 73.53 billion yuan ($11.5 billion) — beating a Thomson […]

Mercari, Japan’s first unicorn, files to raise $1.1B in Tokyo IPO

opengraph default 150x150 - Mercari, Japan’s first unicorn, files to raise $1.1B in Tokyo IPO

Mercari, the eBay-like service that is Japanese first tech startup unicorn, has filed to go public in an IPO that could raise as much as $1.1 billion. The company is scheduled to list on the Toyko Stock Exchange’s Mothers Market — a board for high-growth companies — on June 19. The company reached the symbolic $1 […]

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