Asia tech news roundup – Dec 27

Photo credit: HelloBike.

In case you missed it, here’s the latest tech news from across Asia.

Transportation

New bike-sharing contender nabs funding (China). Hello Bike just scored a US$500 million funding round as it seeks to challenge the top two Chinese players, Mobike and Ofo. Hello Bike has a lot of catching up to do, however. (Tech in Asia)

‘Didi for bikes’ gets shut down (China). Inspired by motorcycle ride-hailing services such as Grab, an app called Lude Chuxing rolled out in China this month, enabling people to drive passengers on motorbikes and three-wheeled cars known as ‘sanlunche.’ But local authorities banned the app just three days after its launch due to violations of transport rules. (Technode)

Finance

Lendingkart raises US$3.8 million in debt (India). The financing from the State Bank of India will be mainly used to expand the New Delhi-based lending startup’s loan book. Lendingkart allows small businesses to easily apply for credit online, bypassing banks and other traditional institutions. It uses algorithms to score loan applications. (Inc42)

Big tech

Google may launch retail stores (India). Google is exploring the idea of physical retail stores in India to boost sales of its Pixel smartphones, according to sources familiar with the matter. The US firm has seen an encouraging response to more than a dozen pop-up stores that opened in malls to showcase the second-generation Pixel phones. India, the world’s second biggest mobile market, is currently dominated by Samsung and Chinese players like Xiaomi and Oppo. (Reuters)