Asia tech news roundup – Nov 28

Singapore skyline. Photo credit: fazon / 123RF

There was plenty of news from the worlds of ecommerce, fintech, and transportation today.

Ecommerce

Blibli buys Indonesia Flight (Indonesia). The ecommerce platform has acquired the travel booking site, just months after it bought out online travel agent Tiket. (Tech in Asia)

Central Group and Start Today Ventures join Pomelo’s series B (Thailand). The online fashion marketplace has already secured US$19 million in funding from JD, Provident Capital Partners, and Lombard Private Equity, making it Thailand’s largest known series B round at the time (it was overtaken by aCommerce’s US$65 million fundraise earlier this month). Retail and real estate powerhouse Central Group recently entered into an ecommerce-focused joint venture with JD, while Start Today owns Japanese fashion marketplace site Zozotown. (Pomelo Fashion)

Rocket Internet company sells off car classifieds site (Vietnam). IT firm and venture builder Fram will acquire loss-making Carmudi Vietnam for US$50,000. The Stockholm-listed company claimed it will be able to run the business at a quarter of the cost as compared to previous owners Carmudi. (Tech in Asia)

Fintech

Photo credit: maxuser / 123RF

Cryptocurrency exchange gets US$1m seed funding (Singapore). Kryptos-X will use the capital to hire team members, build software, and cover the costs of its launch, which is expected to take place within the next three months. It will become the latest cryptocurrency exchange to be based in the city-state. (Tech in Asia)

Apollo Capital launches US$22.8 million cryptocurrency hedge fund (Australia). The fund, founded by veterans of Melbourne-based VC firm Dominet Venture Partners, claims to be the Lucky Country’s first focused on virtual currencies, ICOs, and other blockchain-based assets. It will be open exclusively to wholesale clients, with a minimum buy-in of US$38,000. (Apollo Capital)

InstaReM launches in Malaysia (Singapore/Malaysia). The Singaporean cross-border payments firm will now be able to help Malaysian residents transfer money to more than 60 countries. It plans to enter the Indian market next month. (InstaReM)

The now-vacated Lattice80 fintech hub at 80 Robinson Road in Singapore. Photo credit: Lattice80.

Lattice80 partners with IOTA Foundation (Singapore). The Marvelstone-backed fintech incubator has agreed to set up an innovation lab with Germany’s IOTA Foundation, which focuses on the development and standardization of blockchain and related technologies. (Marvelstone Group)

TenX tokens begin trading on Huobi Pro (Singapore). The payments startup’s PAY tokens – which it distributed in a crowd sale earlier this year, raising US$80 million – will be available to buy and sell on cryptocurrency exchange Huobi Pro from today. (TenX)

Artificial intelligence

Transportation

Real estate and property tech