In addition, Singapore’s e-commerce cashback platform ShopBack has raised USD 75 million in financing; the world’s first African version of the new crown pneumonia self-assessment system jointly developed by Star Times will be launched.
India
Amazon and Flipkart sales are down. According to the Nikkei Asian Review report, after India announced a three-week city blockade, Amazon and Wal-Mart’s Indian e-commerce company Flipkart temporarily suspended the delivery of non-essential items and estimated a decline in total sales this year. Amazon said it will “prioritize” necessities for delivery. Rival Flipkart also said that it has suspended orders and is evaluating delivery possibilities.
BigBasket and Grofers delivery services are back on track. According to Inc42, after meeting with the Prime Minister’s Office (PMO), the Delhi and Gugram authorities have allowed the fresh food e-commerce platform BigBasket and the grocery platform Grofers to distribute basic items during the blockade of the city.
Lava, a local Indian mobile phone brand, pays factory workers 20% advance wages. According to ET, this move is nearly 12 days earlier than the original salary payment date, which aims to reduce the financial burden on employees during the city blockade period.
Wal-Mart names Sameer Aggarwal as CEO of the Withdrawal Division. According to DealStreetAsia, Wal-Mart has named Sameer Aggarwal the CEO of Best Price, the payment withdrawals business unit, yesterday. The company also said it is in contact with supplier partners to provide stores with sufficient inventory during a 21-day lockout period approved by the government.
Southeast Asia
Reports show increased consumer demand for e-wallets in Vietnam. According to KrASIA, a new survey released by Vietnamese market research company Cimigo shows that Vietnamese urban consumers are increasingly using e-wallets to make small payments, while Vietnamese financial company Momo, Zeng and Grab have partnered The relationship between Moca and Vietnam’s only unicorn ZaloPay is among the top three most popular e-wallet software, accounting for 90% of total online payments. It is reported that although Vietnam is one of the ASEAN countries with the least amount of cashless transactions, the outbreak is changing the habits of its consumers.
Singapore’s e-commerce cashback platform ShopBack has raised $ 75 million in financing. It is reported that recently Singapore’s e-commerce cashback platform ShopBack announced that it has completed $ 75 million in financing. This round of financing was led by Temasek, and existing investors Rakuten, EDBI, EV Growth and others participated in the investment. ShopBack pointed out that the funds will be used to improve the technical level of the platform and market expansion. ShopBack mainly provides users with e-commerce product cashback services through its platform, while providing travel booking, fashion supplies, beauty care, grocery and food delivery and other categories of cashback.
Singapore-based takeaway startup Eatsy ceases operations. According to e27, Singapore-based takeaway platform Eatsy announced that it will cease operation of all services from April 1st until further notice. The company said the outbreak had a negative impact on the takeaway business, and the company would redeem all cash back it provided before March 31.
Singapore-based ARA Property Management has acquired a major equity stake in European real estate investment company Venn Partners. According to DealStreetAsia, the company has completed the acquisition of a majority stake in European real estate private debt investment company Venn Partners. The European company will be renamed ARA Venn and combine the strengths of the two companies to build a global real estate credit platform.
Forkwell.io, a Malaysian technology company, has partnered with Microsoft to host a hackathon. According to e27, Forkwell.io and Microsoft will collaborate to host a hackathon to encourage data scientists and software developers to find solutions to the global epidemic. Other partners in the program include Malaysia Digital Economy Corporation (MDEC), Runcloud and Sunway iLabs. The event will start at 12 pm on March 30th and end at 12 pm on April 13th. Participants will receive up to $ 3,000 in prize money.
Middle East
Nana, an online grocery platform in Saudi Arabia, raised $ 18 million in Series B financing. According to MENAbytes, Riyadh-based online grocery platform Nana has raised $ 18 million in a Series B funding round led by Saudi Technology Ventures (STV) and Middle East Venture Partners (MEVP). Existing investors Watar Partners, Saudi Venture Capital Company (SVC), Wamda and existing angel investors also participated in this round of financing. The funds will be used for international business expansion.
Africa
The world’s first self-assessment system for new crown pneumonia in Africa, jointly developed by Sida Times, will be launched. It is reported that this version of the system was jointly developed by Tsinghua University School of Clinical Medicine, Tsinghua University Institute of Artificial Intelligence, and Sida Times, and Sida Times is the only officially authorized partner of the system in Africa. Pang Yi, general manager of the user product operation department of Star Group, introduced that the African version of the new coronary pneumonia self-test system will be launched through the Group’s online video app “StarTimes ON” in Africa, which aims to strengthen the public’s science of new coronavirus infection pneumonia Recognize and help improve home triage and reduce social prevention and control costs. (China Trade News)
Ivorian waste management startup Coliba receives investment from German company. Ivory Coast-based startup Coliba has received funding from GreenTec Capital Partners, a German investment company focused on investing in African startups and small businesses, according to Disrupt Africa. The company said that the funds will be used to expand the business, aimed at transforming Africa’s recycled plastic economy. GreenTec Capital mentioned that “Coliba’s platform provides both simple solutions and employment opportunities in waste management.”
Others
After Moody’s downgraded its debt rating, SoftBank Group stocks stagnate. According to DealStreetAsia, SoftBank Group shares fell 8% in early trading Thursday, ending a 55% rally in the stock. Earlier, rating agency Moody’s downgraded the company’s debt rating, aiming to inject high-quality assets into volatile markets. Softbank then asked Moody’s to withdraw its rating.
文 | Zehui @ 出海
Picture | Unsplash
