In brief: Grab partners with Viddsee; Openspace gets Temasek backing for new $135m fund

Photo credit: Grab

Viddsee joins forces with Grab; Originals hit 4 million views (Singapore). Content from the on-demand video service will be hosted in Grab Daily, the recently launched news and entertainment feature within Grab’s ride-hailing app. Viddsee also revealed that its Originals series of internally produced film content has passed 4 million views. (Viddsee)

Openspace Ventures closes second fund (Singapore). Early Go-Jek backer Openspace – formerly known as NSI Ventures – has raised US$135 million for its second investment vehicle. To date, the firm has secured capital commitments totaling US$225 million from its limited partners. US private markets firm StepStone and Singaporean sovereign fund Temasek were among the contributors in the new fund. (Openspace Ventures)

Other news

FunNow gets US$5 million funding (Taiwan). The leisure activity booking app will use the money to expand its service to other major cities in East and Southeast Asia. Alibaba Entrepreneur Fund led the series A round, with Taipei-based Accuvest, CDIB Innovation Accelerator Fund, and Darwin Venture joining in. (e27)

Youtap scores strategic investment from Salim Group (Singapore). The enterprise software startup will give Indonesian conglomerate Salim Group access to its tech and distribution network in exchange for a “substantial minority stake.” Youtap develops solutions to enable inventory and supply chain payments. (Youtap)

Didi’s Xiaoju Automobile Solutions (XAS) acquires Hiservice (China). Shanghai-based automobile after-services firm Hiservice will be merged with XAS’ maintenance and repair operations to form Xiaoju Auto Care. Didi spun off its car services unit earlier this month, renaming it XAS and handing it US$1 billion to invest in complementary businesses. (e27)

Kardi takes over local operation of Indian on-demand auto rickshaw app (Singapore). Jugnoo is handing over its Singaporean business to local player Kardi, saying that it had struggled to hire talent in the city-state. Its local app will redirect to Kardi’s platform, and the companies are expected to share revenues. Jugnoo is India’s third-largest ride-sharing service after Uber and Ola. (Vulcan Post)

See: Previous Asia tech news