Asia tech news, weekly: Sept 13th
In this edition: iPhone manufacturing in India; ad-tech for delivery drivers in Australia; Myanmar's crypto bid; blockchain-based gaming in Malaysia; Animoca Brands' continued growth; and more.
• Hong Kong: Wada Bento vending machine startup gains $2.8M Pre-Series A with hardware-as-a-service approach to food provision
• Amazon Web Services and Epiphany kick off AI/ML Reactor, a 5-week hands-on program for selected startups in ASEAN and Pakistan to implement and deploy AI/ML solutions - applications close Sept 30th
• Hong Kong's Animoca Brands raises $110M in round led by Singapore's Temasek and Korea's Mirae Asset Management
• India: Tata Group is reportedly in discussions with US-based Wistron to establish a manufacturing JV for assembling iPhones in India, continuing trend of moving production away from China
“Interestingly…Tata has already had its initiation in the smartphone manufacturing industry as it has set up the production of iPhone chassis components in South India.”
• Vietnam: Be Group ride-hail firm gains loan facility of circa $60M with sights on challenging Grab domestically, building on 20M app instals and growth in rides, deliveries and digital banking services
• Australia: Zipr fashion-tech startup takes SmartCompany pitch night win with sights on social commerce market, bringing video and e-commerce together for brands and individuals to sell clothing
• Malaysia: CoreHalal Sabah brings Halal Assurance System to Australia, helping subscribers manage and ensure Halal supply chains
• Australia: LUMOS brings advertising-enabled smart bags to life for gig economy delivery riders, raising $800K pre-seed funding to address the opportunity in out-of-home ads
• Myanmar: National Unity Government seek US Federal Reserve endorsement to use $1BN in frozen coup funds to instead back new digital currency and a plan to establish a new central bank
• Binance crypto exchange giant to convert user balances and new deposits of USD Coin, Pax Dollar and True USD into the company's own stablecoin, BUSD
• Indonesia: SkorLife raises $2.2M pre-seed with application for users to access and monitor credit scores, credit reports and other relevant data from credit bureaus
• A Sceptic's Guide to Crypto, episode 4: 'The Church of Bitcoin', a podcast from the Financial Times
“What do bitcoin devotees really believe, and does hardcore adherence to the coin make it a cult? Jemima dives into the myth-making around the mysterious bitcoin founder Satoshi Nakamoto and the belief systems underpinning cryptoland.”
• Singapore: An interview intro to Transcelestial's CENTAURI, designed to deliver high-speed internet via laser beam
• Singapore: Global food firm Cargill inks 3-year partnership with Singapore Economic Development Board to incubate startups working on solutions for Asia-Pac's food and agriculture industries
• Cambodia: The Near Cambodia Guild launches, aiming to grow Web3 and blockchain awareness and use, and with sights on incubation and development Web3 talents
• China: Social media firm increasingly adding hidden watermarks to screenshots, making images traceable wherever shared, likely a bid to identify users posting censored content outside the 'Great Firewall'
• India: Gov't to intro legislation to regulate social media influencers, including penalties growing as high as $60K for failing to disclose financial ties with brands
• Philippines: Shipmates raises $2.2M, streamlining deliveries and order fulfilment by consolidating several couriers into one platform, with online sellers booking couriers through the Shipmates app
• Overseas WeChat users notified 'personal data [including] likes, comments, browsing and search history...uploads etc' will be transmitted to China, 12 months after data-storage separation claim
• US tech firms receiving gov't funding face ban from building advanced tech facilities in China for a decade as part of plan to boost domestic semiconductor industry, reduce reliance on China-produced components
• Maritime GPS spoofing, sanctions, illegal fishing & beyond: "...an increase in cases of AIS manipulation and jamming in the Black Sea...Russia was trying to hide its oil exports and smuggle stolen Ukrainian grain."
“After originally discovering the deception near countries under sanction, Windward has since seen it spread as far as Australia and Antarctica.”
• Australia: Energy Queensland is building a 3D digital twin of above & below-ground infrastructure in bid to better manage assets including 153K substations, 178K km of overhead lines and 1.7M power poles
• Malaysia: Mason Games gaming studio acquired for $1M, setting sights on GameFi and Vietnam expansion and company growth in blockchain-based gaming
• South Korea: Gov't program launches to partner 9 multinationals including Google and Airbus to work with 270 Korean startups, aiming for global market entry and development
• New cyber-espionage group identified following attacks on high-profile Asian companies and local governments
• India: Directorate of Enforcement conducted searches under anti money-laundering act on Razorpay, Paytm and Cashfree Payments in Bangalore, seizing $2.1M in suspicious bank accounts
“India’s central bank said that almost half…of the 1,100 online loan apps available across various app stores in the country as of February 2021 were operating illegally.”
• South Korea: Selpic kiosks for printing and sharing smartphone photos at tourist destinations launched, seeing advertising and marketing opportunities beyond tourism
• India: GroMo platform raises $11M with more than 1.2M agents across the country, selling over 100 financial products including insurance and credit cards
• Singapore: Eezee digital procurement platform raises $7.5M Series A, integrating with enterprise systems, including Oracle and SAP, allow businesses to find and purchase items from safety equipment to industrial supplies
ICYMI: In Case You Missed It
Wider-world technology news headlines with Asia-Pacific / Indo-Pacific relevance, alongside useful points of reference.
» Download: 'The State of the Metaverse in 2022 - Building An Open World' from Nextrope (pdf)
» Blockchain and government: "Governments need to recognise that their traditional strengths and regulatory capabilities are not as effective in this digitalised world."
» What Protocol reporter Biz Carson learned about the future from listening to 223 YCombinator startup pitches
» LG NOVA Mission For the Future 2022 applications close October 6th, seeking solutions in digital health, metaverse & gaming, e-mobility and more
» UK's Imperial College to shut down two major research centres sponsored by Chinese aerospace and defense companies over concerns over China military use of research
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