Asia news roundup: Foyr funded, Gravity acquired, and Rappler takes the rap

Shailesh Goswami, Foyr founder and CEO / Photo credit: Foyr

Foyr and Zoom secured funding today, while Philippine news startup Rappler loses its license after an adverse regulatory ruling.

Property and real estate

Foyr gets US$3.8 million series A (India). The Indian startup has developed a platform for visualizing and virtually customizing interior spaces, and it will use the funding to deepen research and development in AI, virtual reality, and 3D visual technologies. Real estate consultancy JLL led the round with participation from several undisclosed investors. (JLL)

Co-working provider naked Hub acquires Gravity (China/Australia). Shanghai-based shared workspace operator naked Hub – which has venues across China, Southeast Asia, Australia, and the UK – will take over Gravity, an Australian provider of premium co-working spaces. The deal comes amid a boom in Asia Pacific’s co-working industry, with increasingly fierce competition between regional players like URWork and JustCo, and foreign entrants like US unicorn WeWork. (China Money Network)

ZmyHome raises US$400,000 to disrupt listings (Thailand). The Thai startup seeks to challenge larger real estate portals like PropertyGuru by removing the need for agents and other intermediaries, thus allowing buyers and vendors to transact directly and at lower cost. The capital injection came from Singapore-based KK Fund. (Tech in Asia)

Media and entertainment

Rappler’s license revoked by regulator (The Philippines). The online news site had its certificate of incorporation revoked by country’s Securities & Exchange Commission (SEC), after allegedly falling afoul of regulations limiting foreign investment in media companies. The SEC said that Rappler engaged in a “deceptive scheme to circumvent the [Philippine] constitution.” A statement from Rappler, which described the agency’s move as “pure and simple harassment,” explained that it has “dutifully complied with all SEC regulations and submitted all requirements even at the risk of exposing our corporate data to irresponsible hands with an agenda.” (Philippine Daily Inquirer)

Enterprise software

Photo credit: Money Forward

Sleekr scores Money Forward funding (Indonesia/Japan). Japanese fintech firm Money Forward has made a strategic investment in Sleekr, an Indonesian HR and accounts management platform. The amount was not disclosed. The deal represents Money Forward’s first investment in Southeast Asia, with the firm’s CFO Naoya Kanesaka suggesting more are on the way. (Tech in Asia)

Logistics and delivery

On-demand delivery app Zoom closes US$1 million pre-series A round (Malaysia). Gobi Partners led the round, with Cana Asia, Spiral Ventures, and Cradle Fund also taking part. Zoom said it will use the funds to launch in Johor Bahru and Penang, expand its services in the Kuala Lumpur region, and work towards entering Indonesia and Thailand. It will also invest in white-labeling its interface for corporate clients. (Gobi Partners)

Rivigo raises US$50 million at series D (India). The tech-enabled logistics startup secured the money from investors including previous backers Warburg Pincus and SAIF Partners, which led the round. The deal values “soonicorn” Rivigo at US$945 million post-money. (VCCircle)

Transportation

Ofo rides into Pune (India). Chinese bike-sharing firm ofo is launching its first Indian service in partnership with payments app Paytm, which can be used to pay for ofo rides. Initially rolling out in Pune, ofo is expected to also expand to Chennai, Indore, Ahmedabad, and Bangalore. The Chinese company will face competition from local players Ola and Zoomcar, which have both launched bike-sharing services within the past few months. (Livemint)

Consumer tech

Flipkart unveils latest private-label line (India). The ecommerce giant launched a range of air conditioners and smart TVs under its in-house MarQ brand at the Consumer Electronics Show in Las Vegas. The products are said to be designed specifically for Indian consumers, cost 10 to 20 percent less than competing items, and will go on sale on the firm’s marketplace from April. The move represents Flipkart’s latest push into private-label goods after it began selling MarQ microwave ovens, washing machines, and TVs last year. (Inc42)

Big tech

SoftBank mulls US$18 billion IPO for mobile phone unit (Japan). The Tokyo-based tech giant is planning to list shares in its mobile phone business towards the end of this year. It could be one of the largest IPOs in Japan, rivaling fellow telco NTT Docomo’s US$18.1 billion stock market float in 1998. SoftBank will use proceeds to invest in foreign IT and telecom businesses. (Nikkei Asian Review)