Asia news roundup: Didi eyes $1.6b in fresh funding, Dahmakan buys Polpa, and more

Didi’s Beijing headquarters / Photo credit: Didi Chuxing

Here’s a wrap of the day’s news.

Transportation

Didi Chuxing looks to raise US$1.5 billion through first-of-a-kind bond sale (China). The ride-hailing giant has received approval from the Shanghai Stock Exchange to issue up to US$1.58 billion in asset-backed securities. These are similar to bonds and, using car-leasing claims as collateral, will apparently have their value determined by the ability of drivers to pay for their leased vehicles. (Technode)

Delivery and logistics

Dahmakan acquires Polpa to hasten entry into booming Bangkok market (Malaysia/Thailand). Y Combinator-backed Dahmakan has acquired Bangkok-based rival Polpa, marking the Malaysian ready-to-eat food delivery startup’s first foray outside its home market. It is planning further expansion to Hong Kong and Jakarta later this year. (Tech in Asia)

One of Dahmakan’s chefs at work / Photo credit: Dahmakan

Health and well-being

DocDoc nets US$5.45 million through convertible bond sale (Singapore). The startup provides an appointment-booking portal for patients, and uses clinical informatics and healthcare quality assessments to offer recommendations. The funding comes from London-based Adamas Finance Asia, and will help DocDoc to scale its doctor-discovery product. (DocDoc)

Agritech

Impact Terra raises US$3 million to digitize subsistence farming (Myanmar). The startup’s Golden Paddy mobile app offers personalized advice and services to smallholder farmers, aimed at improving their productivity, market access, and financial inclusion. The new funding will be used to drive Impact Terra’s Smart Agriculture Myanmar project, which uses satellite-based insight to improve Golden Paddy’s farmer advice and stimulate microfinance initiatives through credit risk assessments. Impact Terra’s funding includes grants from the Netherlands Space Office’s Geodata for Agriculture and Water initiative and venture philanthropy organization Leap201. (Impact Terra)

Media and entertainment

QinLin secures several million US dollars in series A-plus round (China). The marketing platform which targets residential communities is reported to have raised “tens of millions of yuan” from Shangshi Fund. The startup will use the capital for market expansion, product development, and funding operations in residential communities. (KrAsia)

GetCraft co-founders Patrick Searle (L) and Anthony Reza (R) / Photo credit: GetCraft / Ahmad Zamroni

GetCraft launches marketplace for creatives (Indonesia). The Jakarta-based startup seeks to connect brand owners with a vetted community of creative and media professionals for content marketing, influencer marketing, and advertising projects. Backed by the likes of 500 Startups and Convergence Ventures, GetCraft claims to have run projects worth US$10 million for brands including Unilever, Coca-Cola, Google, Samsung, Traveloka, and Grab. (GetCraft)

Investors, incubators, and accelerators

Malaysia Venture Capital Management (MAVCAP) and China Construction Bank (CCB) to set up US$200 million greentech fund (Malaysia/China). MAVCAP CEO Jamaludin Bujang claimed that this will be the first such fund in the ASEAN, adding that it will focus on the late-stage growth and financing for renewable energy, green innovation, and cleantech projects in throughout the region. (The New Straits Times)

See: Previous Asia tech news roundups