SEA
Mandiri Capital-backed Cashlez in talks to raise fresh $5m funding round. Cashlez is one of the first Indonesian startups to locally develop a host of payment solutions that include a fully certified card present payment gateway and merchant-centric reporting tools. (Deal Street Asia)
S’pore’s Ministry of Health (MOH) mulling permanent internet surfing separation for some parts of the healthcare system. The temporary internet surfing separation (ISS) has caused operational issues. Areas that have been affected include the reading of diagnostic reports from laboratories and video consultations. (Channel Newsasia)
REDtone to develop IoT solutions for durian farming with Bangi Farm Resort. This move is aimed at exploring the development of smart farming solutions in a bid to increase the quality and production of durians in Malaysia. (DNA)
This Malaysian online gym doesn’t help you get fit but makes your bank account fatter. FinC is a Malaysian education platform that acts as an online financial ‘gym’ where users can come to get a financial health check and ‘train’ themselves to become more financially savvy. (Vulcan Post)
How artificial intelligence is driving S’pore’s tech startups? Automating knowledge work, analytics for the financial industry, predicting logistics flows, and safety in autonomous driving are some examples. (Inc. Southeast Asia)
China
Chinese transport major Didi Chuxing spins off car services platform. Didi is also investing $1b in the autonomous new entity. This is a significant milestone for Didi amidst a more competitive business landscape. (KrASIA)
LemonBox brings US vitamins and health products to consumers in China. The recent scare around Chinese vaccinations, which saw faulty inoculations given to babies and toddlers in a number of provinces, has only fueled demand for overseas health products which LemonBox founder Derek Wong discovered himself. (TechCrunch)
Taiwan’s crypto scene is booming but still needs regulatory framework to thrive. Under current regulatory frameworks, many aspects of cryptocurrency are still operating in murky waters. Countries around the world have come up with their own playbook. (Technode)
‘New retail’ is a boom in China, but too early for SEA. After Alibaba and JD, the term ‘new retail’ is back in headlines, as Luckin Coffee, a young upstart, is now challenging Starbucks with an apps-based ordering system and cashless payments. (Tech In Asia)
Is Google partnering with Tencent for its China comeback? It is safe to assume at this point that both Google and Facebook are prioritizing re-entry into the Chinese market. There is also a growing amount of evidence to suggest that they are doing so with the assistance of Tencent, and possibly even Alibaba. (e27)
World
Apple has removed infowars podcasts from iTunes. Unlike Google and Facebook, Apple’s move is wider-reaching, removing all but one show from its directory of content. Podcasts that violate their guidelines will be removed from Apple’s directory. (TechCrunch)
Tech stocks should still be a portfolio favourite, despite recent weakness. Deutsche Bank is still positive on tech stocks even though 18 per cent of the S&P tech stocks and 43 per cent of Nasdaq companies are down more than 20 per cent from their year to date highs. (CNBC)
July sets a record for the number of $100m+ venture capital rounds. The tech sectors’ venture capitalists kicked investments into overdrive, at least when it comes to financing supergiant venture rounds. With 55 deals accounting for just over $15b at a time of writing, July likely set an all-time record of huge venture deals struck in a single month. (TechCrunch)
Good News Bad News
A team of former Dota 2 pros just got owned by AI bots. A bot team created by OpenAI, an artificial intelligence research firm funded by Elon Musk, obliterated semi-professional players of the online multiplayer video game Dota 2. (TNW)
