Asia news roundup: Google and SoftBank in $1.9b truck fund, data leak at Meituan, and more

Here’s a wrap of the day’s news.

Transportation

Google and SoftBank keep on truckin’ with US$1.9 billion investment in Manbang (China).  The Japanese firm’s US$100 billion Vision Fund led the mega-funding round, with Google’s CapitalG, China Reform Fund, and Ward Ferry also participating. Truck-hailing service Manbang – the result of a November 2017 merger between “Uber for trucks” startups Huochebang and Yunmanman – said it would use the money to develop new business areas and markets. (Reuters)

Go-Jek may fill ComfortDelGro’s Uber-shaped hole (Indonesia/Singapore). The Indonesian ride-hailing firm is rumored to be negotiating a deal with Singaporean taxi firm ComfortDelGro over a potential partnership. ComfortDelGro previously joined forces with Uber in a US$474 million joint-venture deal last December, which has presumably been mothballed due to Uber’s subsequent merger of its Southeast Asian operations with those of rival Grab. Go-Jek earlier indicated that it will make its first forays beyond its native Indonesia this year, targeting expansion into neighboring Southeast Asian markets. (TechCrunch)

International Finance Corporation considering US$4 million investment in PickMe (Sri Lanka). The World Bank’s private investment arm proposed the investment in the Sri Lankan ride-hailing app to support its nationwide expansion plans. PickMe has around 20,000 registered freelancer drivers providing services on a revenue-sharing basis. (DealStreetAsia)

Zhejiang hauls in Didi Chuxing for operating without a license, unfair competition warning (China). The province’s Road Transport Management Bureau admonished Didi for operating without appropriate licenses in five cities, as well as for using unqualified cars and drivers. The Bureau told the ride-hailing firm it must obtain the licenses, address its vehicle and personnel issues, and more carefully control pricing so as not to infringe on unfair competition rules. (China Money Network)

Delivery and logistics

Photo credit: Franklin Heijnen

Uber under the regulatory spotlight again, this time for food delivery (Australia). Rod Sims, head of the Australian Competition and Consumer Commission, said the watchdog will investigate complaints relating to Uber’s food-delivery service UberEats. Several restaurant owners have expressed concern about Uber’s contract terms, which they claim make them – rather than the ride-hailing giant itself – responsible for late UberEats deliveries. Uber said its service – which restaurants have to pay for – is simply a “marketplace that connects restaurants with delivery partners” and its contract terms are “consistent with Australian law.” (Reuters)

Meituan-Dianping and Ele.me respond to data breach (China). The food-delivery giants have spoken out after it emerged that users’ personal data was being offered for sale for less than US$0.02 per person. Local media found thousands of names, contact numbers, and addresses available for purchase. Meituan has reported the case to the police, while Ele.me said it is investigating the leak. (TechNode)

Food2U nabs six-digit investment (Myanmar). The food-delivery startup secured the funding from Premium Distribution, an importer and distributor of food and other consumer products backed by City Mart Holdings. Food2U’s post-money valuation is estimated to be over US$2 million. (DealStreetAsia)

Ecommerce

Yunji scores US$120 million for series B raise (China). The ecommerce platform targets small and medium-sized sellers, working with them and external partners to enable same-day delivery. Yunji operates 30 warehouses and has reported over US$44 million in daily sales, with FY2017 revenue of US$1.58 billion. CDH Investment led the round, with participation from Huaxing New Economic Fund. (China Money Network)

Site analytics firm Plaid secures US$25 million funding (Japan). A host of big-name local investors joined the round, including Femto Partners, Mitsubishi UFJ, Mitsui & Co, Mitsui Sumitomo Insurance, Mizuho Capital, and SMBC Venture Capital. The Japanese arm of the UK’s Eight Roads Ventures also participated. Plaid, which provides analysis and real-time visualization of online shoppers’ behavioral data, said it will use the funding for marketing, to hires, and product and service development. (DealStreetAsia)

Fintech

Image credit: Capital Float

Capital Float raises US$22 million in funding from Amazon (India). The online lending startup confirmed that Amazon’s investment came as part of its $45 million series C round from last year, bringing its total funding over the past 12 months to US$67 million. Bangalore-based Capital Float has a total customer base of 80,000 people in over 300 cities. With the recent funding, it has set an ambitious goal of adding 300,000 new customers and handing out over US$800 million in loans within the year. (TechCrunch)

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