As well, Microsoft and India’s Reliance Industries subsidiary will cooperate in areas such as cloud computing; Singapore’s cross-border payment company Instarem will be IPO in 2022; Shun Capital and other institutions will lead India’s network of motorcycle startup company Rapido 50 million US dollars < H3>Southeast Asia
Indonesia used car trading platform BeliMobilGue announced the appointment of former OVO wallet director Johnny Widodo as the new CEO. At the same time, according to e27, Frontier Car Group will invest more than 30 million US dollars in the company in the next two years. Widodo’s participation in BeliMobiGue’s main tasks includes optimizing and creating new partnerships, accelerating talent acquisition, and improving operations and services to provide additional support to dealers. BeliMobilGue was founded in 2017 and promises to sell its used cars within an hour. BeliMobilGue stated that if the user does not intend to hand over the car to the platform for sale after a series of standard monitoring and evaluation, the platform will not charge any fees.
Singapore shared bicycle company SG Bike took over the Mobility bicycle license or became the largest operator in Singapore. According to The New Paper, SG Bike spent $2.54 million on a Mobike bicycle license in Singapore to operate 25,000 shared bikes. If the transaction is approved by the Land Transport Authority, users are expected to use the SG Bike app to unlock Mobike’s bike by September 13th, but users will not be able to unlock the bike using the Mobie app. According to a notice submitted by SG Bike’s major shareholder, ISOTeam, on the Singapore Stock Exchange last Friday, SG Bike has agreed to repay Mortese users’ deposits and advances for a total of $2 million.
BIGO introduces the new to B solution “Live as a Service” (BaaS). According to KrASIA, BIGO will help all kinds of apps meet their needs through the open and complete live SDK, supplemented by CDN-IDC networks, payment channels, artificial intelligence teams and localized operations teams all over the world. The live broadcast function of the application scenario meets the demand for global video content in various industry products. At present, all of BIGO’s products are embedded in the live broadcast function through the BaaS business. It is reported that this year’s BIGO company’s live broadcast revenue is expected to reach 1 billion US dollars.
Weima has entered into a partnership with the National Petroleum Corporation of Thailand. Recently, Weimar Automobile and Thailand National Petroleum CorporationThe company signed a memorandum of cooperation, and the two parties will integrate their respective advantageous resources to jointly explore cooperation opportunities in the fields of smart electric vehicle technology and new retail models. As a result, Weimar Motor is expected to become the first Chinese car company to export intelligent electric vehicle independent intellectual property technology to the international market.
Singapore cross-border payment company Instarem will be IPO in 2022. According to e27, Instarem is headquartered in Singapore and started operations in 2015. Last year, Instarem’s transaction volume was between $1 billion and $1.5 billion, and is expected to reach $5 billion this year. Currently, users can transfer funds to more than 55 countries around the world. Instarem’s remittance service is directly between the sender and the payee’s bank account, compared to MoneyGram, Western Union, etc. InstaRem is committed to completing the transaction within 24 hours and charges a fee of less than 1%.
Honghai officially launched the Indian iPhone production line with an annual production capacity of approximately 1 million units. Hon Hai Group officially launched the Indian iPhone production line in August, with an annual production capacity of approximately 1 million units. Hon Hai Group’s current smartphone production line in India is mainly based on Android phones, and the Xiaomi brand is its main product. The Hon Hai Indian millet production line has a monthly production capacity of 3 million units, almost three times the annual production capacity of the iPhone. The lack of capacity of the Indian iPhone production line is mainly due to the high precision of the assembly precision of the iPhone and the longer learning curve for Indian workers.
Microsoft and India’s Reliance Industries subsidiary will collaborate in areas such as cloud computing. According to foreign media reports, Jio, a subsidiary of Reliance Industries of India, will have long-term cooperation with Microsoft, covering cloud computing, artificial intelligence and other fields. The information released by Reliance Industries also shows that the cooperation commitment time of the two parties is 10 years. Jio will work with Microsoft to accelerate the adoption of advanced technologies such as data analytics, artificial intelligence, cognitive services, blockchain, Internet of Things, and edge computing in SMBs. Jio will build multiple data centers in India, and Microsoft will deploy Azure cloud computing services in these data centers to support the development of Jio.
Shun is a capital or other institution or leads the Indian network about a motorcycle startup company Rapido $50 million,The post-mortem valuation is either $200 million. According to Livemint, Rapido raised $10 million in January. Rapido was established in 2015 and currently operates in 13 cities. In the future, the company plans to further penetrate the northern market and second and third tier cities. Although Rapido was banned in Karnataka and Tamil Nadu due to driver insurance and no helmets, investors still have a positive attitude towards the company . This is the first time that Shun has invested in financial technology and content outside of India. Shun is one of the most active foreign investors in India, focusing on early and growing companies. In addition, Shun’s investment in mobile travel in India will follow its strategy in China.
Bestman India Investment Company leads the Indian gold loan platform Rupeek 30 million US dollars. According to Dealstreetasia, existing investors Accel and Sequoia India also participated in the current round of financing. The company claims to use the funds for product development and market expansion. Rupeek was founded in 2015 as a gold lending platform that works with non-bank financial companies to provide loan solutions for borrowers. The startup reportedly raised $6.83 million in funding last February.
The venture capital firm Fireside Ventures or raises $100 million in funding for its second fund. According to Inc42, the company ended the fundraising of the first fund for $48 million. Founded in 2017, Fireside Ventures focuses on investment in consumer brands, including food and beverage, personal care, lifestyle and household goods. According to Data42s data from Inc42, in the first half of 2019, companies in the consumer service industry in India have raised about $630 million.
Egypt health startup Chefaa completes multi-million dollar financing. According to Disrupt Africa, the investors in this round of financing include 500 Startups and so on. The company will use new funds to increase product range and expand its business to more regions. Chefaa was founded in 2017 to help patients book medicine orders. Users can use the real-time search engine function of the platform to locate which pharmacies have drugs and then place orders.
Tencent GoldRong Technology: Cross-border payment has covered 49 overseas countries and regions. According to the latest data of Tencent Financial Technology, as of now, Tencent’s cross-border payment has been accessed in more than 49 overseas countries and regions, and has developed nearly 1,000 cooperative institutions and supported transactions in 16 currencies. The relevant person in charge of Tencent Financial Technology said, “Now, Tencent’s international exploration has entered a new stage, and the innovative business of cross-border RMB will continue to be launched in the future.”