Asia's tech news, weekly: October 31st 2023
India's Reliance & semiconductors, Malaysia's cybersec headache, Australian hydrogen power, Singapore & EVs, AUKUS-focused VC fund, Geely-Baidu L4 autonomous car...
• Japan joins 13 countries in int'l framework to ensure that software manufacturers build cyber-security into products by default, shifting accountability to manufacturers rather than end-users
• Taiwan: Taipei Gov't moves to lift data security, finding 19 municipal offices using biometric attendance devices made or assembled in China and Thailand
• South Australian gov't appoints 3 global gas and engineering firms as partners for Au$593M hydrogen production, power plant and storage facility
• China's PonyAI autonomous driving firm gains $100M from Saudi Arabia's NEOM, adding to JV plans around advanced vehicles and infrastructure in NEOM and MENA markets
"Singapore plans to boost the adoption of electric vehicles (EVs) by aiming to deploy 60,000 EV charging points nationwide by 2030..."
• India: GigaML raises $3.6M with enterprize solution allowing firms to run LLMs locally, thereby mitigating data security and compliance challenges
• Philippines’ National Coast Watch Center inks agreement with Canada's satellite-based Dark Vessel Detection System to monitor China's maritime militia activities in PH waters
• India's Reliance Industries explores acquisition of Israel's Tower Semiconductors in chipmaking foray, stepping in as Intel backs away from bid
• DYNE Maritime, a US venture capital firm, has launched a Au$157M fund to invest in maritime tech related to the AUKUS agreement
• China's BeyonCa electric vehicle battery firm, backed by Renault and state-owned Dongfeng, inks stake sale agreement with Saudi Al Faisaliah Group, with sights on Middle East EV market
• South Korea: Twelve Labs generative AI startup raises pre-A round with participants including NVIDIA with hyperscaleable AI models that focus on understanding video content
• Fiji and Australia to cooperate on cybersecurity, with Fiji also pausing China policing agreement in preference of increasing Australia defense ties
• Malaysia: Country requires around 27000 cyber-security experts but currently has only 15000, says Communications and Digital Minister
"Rever Automotive’s exclusive distribution rights for [China's] BYD represent a formidable challenge for Japanese and South Korean automakers in the Thai electric vehicle market..."
• Indonesia: Bali Investment Club angel investor network to launch $25M Archipelago VC fund focused on sustainability early in 2024
• Taiwan: Gogoro launches CrossOver Smartscooter, built for existing network of over 1M swappable batteries and featuring a tougher task-oriented build than standard escooters
• Nicosia, capital of Cyprus, rolls out Huawei and PROBOTEK solution for early fire detection using 5G, AI and drones
• South Korea: LG Electronics to establish new business entity focusing on new growth pillars including digital healthcare, clean-tech and AI, partnering with an as-yet unnamed startup
• China: Geely and Baidu launch AI-powered 01 ROBOCAR EV, featuring Baidu’s full Apollo suite of Level 4 autonomous driving solutions
• Japan: JGC Holdings to commercialize bendable solar cells made of perovskite for surfaces such as shop walls or domed buildings, with sights on 2026 launch
• Hong Kong: Anboto Labs raised $3M, launching non-custodial trade platform following beta phase which hit a transaction volume of $4BN across 20 exchanges and blockchain networks
• Japan to set shared standards with Europe and US on subsidies for EVs, semiconductors and other critical tech fields including decarbonization
"Powerful artificial intelligence systems threaten social stability and AI companies must be made liable for harms caused by their products..."
• Australia: CipherStash startup raised $3M with cybersecurity using advanced encryption to prevent data breaches, integrating with multiple programming languages and databases
• Taiwan's Foxconn hit with economic coercion via tax audits and land use probes in China, likely in response to Foxconn founder standing for election in Taiwan
• A quick look at the tech startup winners from Expand North Star Dubai's 2023 Supernova Challenge, including overall winner from Singapore, Accredify, a blockchain-based verification firm
• Singapore: AIOX Apex Angel Fund announces new venture fund focused on deep-tech and web3 innovations, partnering X-PITCH 2023 deep-tech startup competition
• Cambodia: An overview of the Kingdom's Fintech Policy directive 2023-2028, aiming to boost development in areas including peer-to-peer lending and crowdfunding
• PayPal invested in Southeast Asia Women’s Economic Empowerment Fund as part of pledge to boost financial inclusivity
• India: An intro to FirebirdVR, setting up virtual reality 'libraries' in colleges around Pune to boost higher education access for students
• Vietnam: Singapore's Protos Labs secures $2.2M for Vietnam expansion, focusing on the country's risk landscape and cyber insurance requirements
Thailand: "Funds will be focused on 5 areas: agriculture, medicine, tourism, soft power and energy, including electric vehicles. Plans call for supporting more than 1,500 new projects."
• Singapore's YouTrip, a fintech offering multicurrency wallets for consumers and business accounts with corporate cards for SMEs, lands $50M with sights on SE Asia expansion
• India: Tata Group to enter assembly of Apple iPhones following approval for acquisition of Wistron Corp India manufacturing unit
• TikTok Music streaming service comes out of beta in Australia, Singapore and Mexico, building on Brazil and Indonesia roll-out and featuring ChatGPT search tool
• Better Bite Ventures backs 3 food-tech startups in latest First Bite funding - Singapore's Fattastic, Australia's Pivot Eat, and South Korea's Everything But
• Taiwan: An intro to a handful of the international startups that took part in the recent Meet Greater South event
• Sequoia India's Surge accelerator unveils latest cohort, with Australia's AI-based workforce automation firm, Relevance AI, and employee engagement platform, Mercu, selected
• Singapore's Velocity Ventures inks MOU with Korea Tourism Organization to grow early/growth stage tech firms across five travel-tourism verticals - services, transport, accommodation, F&B and experiences
• Australia: An intro to 10 startups that collectively raised $39M in the past week, working in cybersecurity, call centre tech, insurance-tech and more
"M Mobility is strategically invested in by Tech Mahindra, a major IT service provider in India, and will target markets in Japan, India and Thailand..."
• Taiwan's MIH Consortium, a Foxconn-initiated open EV alliance, has licensed design and tech to M Mobility, a startup backed by India's Tech Mahindra IT giant
• Korean Investment Partners Southeast Asia hits first close of $60M fund, looking at seed-stage to Series B startups
• Mandiri Capital Indonesia and Singapore-Australia early-stage VC, Investible, prep for launch of Global Climate Tech Fund
• Japan: A brief video intro to KG Motors, working on single-seat electric vehicles
In wider-world technology news:
» Inaugural $100K Quantum Startup Pitch Competition now open for applications with opportunity to present at Q2B 2023 Silicon Valley conference on December 6th
» Intel makes major semiconductors move with spin-off of Programmable Solutions Group as separate business entity
» Bloomberg Philanthropies unveils City AI Connect for mayors to trial, generative artificial intelligence platform aiming to help improve public services
» Nightshade, an artist-focused tool that 'poisons' generative AI training data to prevent use by image-generating systems
» 'Net firms Google, Amazon and Cloudflare defended against largest-ever denial of service attack, 7 times previous record, reporting a new cyber-attack technique
» 'The European Investment Bank, digital bonds and blockchain tech' via The Financial Times
» 41 US states sue Meta, over over alleged 'addictive harms to the mental health of its youngest users
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