Also, a Chinese government official pulls up “non-innovative” medtech firms raking in money from VCs. Go to Source
Author: Tech In Asia Online News
China Roundup: Geely’s ride-hailing arm banks $600m, and other news
Also, Alipay adds support for remittances between Macau and mainland China, while Tencent calls for stricter measures against renting game accounts. Go to Source
China Roundup: Probe on ride-hailing firms, new rule for payment firms on IPOs, and more
In other news, JD Logistics has partnered with Walmart’s wholesale brand for deliveries through its unmanned vehicles. Go to Source
Indian car rental giant drives full speed into Southeast Asia
A new competitor enters Southeast Asia’s heated car-sharing space and the company that’s handing out Apple stock Go to Source
Didi to set up workers’ union after China imposes rules to curb excessive work
The ride-hailing firm’s drivers – most of whom don’t have full employee benefits – will be invited to join the union, Bloomberg reported, citing sources. Go to Source
Tesla gets green light to make or import 4 models in India
The Model 3 and Model Y are reportedly among the approved models, a Bloomberg report noted. Go to Source
Ola looks to raise $2b from its IPO early next year
Ola is eyeing a valuation of up to US$14 billion in the listing, the Economic Times reported. Go to Source
Indian car rental startup Zoomcar plans $100m bet in Southeast Asia
Southeast Asia is Zoomcar’s next stop, and it hopes the region will contribute up to 40% to its revenues from next year. Go to Source
Ola Electric seeks up to $500m fundraise from Falcon Edge, Temasek, others
The new funding round may lift Ola Electric’s valuation to as much as US$3.5 billion, TechCrunch reported, citing sources. Go to Source
Ex-Grab, Uber, Microsoft execs’ F&B startup lands $6.5m in Sequoia co-led round
Momos is working with food and beverage firms across Southeast Asia, including The Lo & Behold Group, Flash Coffee, Guzman y Gomez, and Wolf Burgers. Go to Source