Author: Deal Street Asia Online News

Indonesia probing Shopee, Lazada units for alleged anti-competition moves

Indonesia’s anti-trust agency said on Monday it is investigating the local units of e-commerce platforms Shopee and Lazada for suspected violations of anti-competition rules. The companies are PT Shopee Internasional Indonesia, and PT Ecart Webportal Indonesia, which oversee the domestic operations of Shopee and Lazada respectively. The agency did not elaborate on what the alleged… Continue reading Indonesia probing Shopee, Lazada units for alleged anti-competition moves

Asia Digest: AVPN launches $15m AI fund; Gaw Capital doubles data centre capacity in Japan

AVPN has launched a $15-million AI training fund for Asia’s underserved communities, while Gaw Capital Partners has acquired a data centre facility in Japan. Google, ADB support AVPN’s AI initiative Asian Venture Philanthropy Network (AVPN), a network of social investors in Asia, has introduced a $15-million fund supported by Google.org and the Asian Development Bank… Continue reading Asia Digest: AVPN launches $15m AI fund; Gaw Capital doubles data centre capacity in Japan

High Street Essentials raises $6m led by Sangita Jindal and India deals worth $38m

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Musk’s xAI raises $6b fresh funding led by Andreessen Horowitz, Sequoia CapitalThe money will be used to take xAI’s first products to market, build ad…

Elon Musk’s artificial intelligence startup xAI has raised $6 billion in a Series B funding round backed by investors including Andreessen Horowitz and Sequoia Capital among others, the company said in a blog post on Sunday. The money will be used to take xAI’s first products to market, build advanced infrastructure and accelerate research and… Continue reading Musk’s xAI raises $6b fresh funding led by Andreessen Horowitz, Sequoia CapitalThe money will be used to take xAI’s first products to market, build ad…

India Digest: Zypp Electric, CoverSure raise funding

Zypp Electric has secured about $14 million in its Series C funding round, while CoverSure has raised $4 million in its pre-series A funding round. ENEOS injects $14m in Zypp Electric B2B delivery and shared mobility startup Zypp Electric has secured about $15 million in its Series C funding round led by Japan-based petroleum firm… Continue reading India Digest: Zypp Electric, CoverSure raise funding

China sets up $47.5b third fund to boost semiconductor sector

China has set up its third planned state-backed investment fund to boost its semiconductor industry, with a registered capital of 344 billion yuan ($47.5 billion), according to a filing with a government-run companies registry. President Xi Jinping has stressed the need for China to achieve self-sufficiency in semiconductors. That need has increased after the U.S.… Continue reading China sets up $47.5b third fund to boost semiconductor sector