Southeast Asia:
Line Indonesia has finished its first acquisition in Indonesia by acquiring Indonesia-based TemanJalan, a carpooling platform designed for students. Line wishes to develop its capability in developing chatbot platform and gain an insight about the local market. (e27)
East Ventures has led a financing round in Bitcoin.co.id, the Biggest Indonesia Bitcoin exchange platform. The startup claims to have more than hundred thousands of users from Indonesia. Last month, Indonesian authorities denied bitcoin as a means of payment. To comply with the regulation, Toko Bitcoin and Bitbayar, two bitcoin platforms, closed down. (DealStreetAsia)
Thailand-based logistics marketplace startup GIZTIX has closed a Series A funding round worth $1.65 million. AddVentures, Wavemaker and 500 Tuktuks invested in the startup to boost its growth in terms of both revenue and operations. The ambitious startup seeks to become the leading delivery service provider in Southeast Asia. Proceeds will be used to expand its operations. The startup’s platform has more than 300 third-party logistics companies and 1,500 transport vehicles. (DealStreetAsia)
Ho Chi Minh City Development Bank (HDBank) plans to raise $300 million through an IPO this year. HDBank wants to list in the first quarter of 2018. Currently, the bank is selling 20 percent shares worth approximately $1.5 billion to overseas investors. (DealStreetAsia)
China:
Following the opening of the first staff-less restaurant in Shanghai, Dicos plans to open more of the same kind in Beijing, Shanghai and Guangzhou. The fast-food company plans to branch out to first and second-tier cities across China. It is currently running 2300 restaurants in China. (The Beijing News)
Ant Financial has asked its partners in consumer finance to adjust the annual rate below the cap of 24 percent. The Alibaba affiliate has just stopped its partnership with some cash-loan platforms earlier. (Tech.Sina)
Another Chinese bike-sharing company bites the dust. Xiaoming Bike reported to on its way to bankruptcy. The company’s CEO has left the position and the actual person in Charge, Deng Yonghao, has spent most of the company’s money to support the supply chain. Employees haven’t been paid for two months. In the latest five months, six bike-sharing companies have closed down or stopped operation. (The Beijing News)
Following the policy to halt approvals for new online microlenders, China is to issue new regulations on online microlenders next week, according to Yicai. The country is likely to allow applicants already in preparation to continue the process of application. (Yicai)
World:
Tesla has completed the construction of the world’s biggest battery in South Australia. The plan to build the 100MW (129MWh) lithium battery aims at preventing regular power cuts in the region. When at full capacity, the built battery facility can provide power to around 30,000 homes for over an hour. (NewYorkPost)
After Singapore, Sydney, Taiwan, Tokyo and Bombay, Google Cloud Platform (GCP) will establish another data center in Hong Kong next year. Up to this March, the tech giant has built 14 data centers across the globe and announced its plan for another three in Holland, Montreal in Canada and California in U.S. (TechSina)
