- Briefing Your roundup of Asian tech and startup news that matter
Angela Teng · · 2 min readIn brief: Didi’s unit nets $1b; Google “in talks” to bring its cloud services to China
Photo credit: Didi Chuxing
Didi Chuxing spins out auto services unit (China). Didi Chuxing will invest US$1 billion in its auto services business, which is being branded as Xiaoju Automobile Solutions. The platform was set up in 2015 and put in trial operation in April this year, providing services such as car leasing and trading, and car-sharing. (Didi Chuxing)
Google reportedly in discussions with Tencent and Inspur to bring cloud services to China (China). The internet giant is said to be holding talks with selected partnership candidates since March. Reports indicating that Google was about to return to the Chinese market following its 2010 exit emerged last week, but were refuted by state-owned media. (Bloomberg)
Other news
SoftBank bets big with new Asia fund on India (Japan/India). The Japanese firm could devote half of its new US$5 billion Asia fund on India. SoftBank CEO Masayashi Son had said the company would invest US$10 billion in India by 2024. Softbank has a stake in several Indian tech companies, including Paytm, Flipkart, and Oyo Rooms. (CNBC)
Government plans US$100 million crypto hub (The Philippines). It is hoped that the hub, which would be based in the Cagayan Special Economic Zone, can provide more tech jobs in the fintech and cryptocurrency sectors. (e27)
Roller bags US$7 million funding (Australia). The app, which provides software solutions for leisure and entertainment businesses, closed its series B round, which was led by US-based Acadian Software. Roller will use the new funds to expand its product development team and further build its presence in North America and Europe. (Roller)
Bithumb resumes crypto withdrawal and deposit services for nine coins (South Korea). The cryptocurrencies now available on the exchange include Bitcoin, Ethereum, Litecoin, and Qtum. Bithumb suspended all deposit and withdrawal services in June following a hack that led to the loss of tokens valued at over US$30 million. (CoinTelegraph)
Editing by Jack Ellis and Judith Balea
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