In brief: Naver backs iPrice; Didi gears up for Mexican standoff with Uber

Photo credit: Didi Chuxing

Iprice bags strategic investment from Line parent Naver (Malaysia). The undisclosed investment is a late addition to the shopping aggregator’s series B raise, which first closed last May. Line Ventures – the investment arm of Naver’s messaging app Line – was earlier named as the lead investor, with participation from Cento Ventures and Venturra Capital. (iPrice)

Didi Chuxing recruits drivers for October launch (China/Mexico). The ride-hailing titan has reportedly started hiring drivers in preparation for its roll-out in Mexico City. This sets Didi up for head-to-head competition with Uber in one of the world’s largest transportation markets. Didi launched in the Mexican cities of Monterrey and Toluca earlier this year. (Caijing, in Chinese)

Other news

Alibaba’s online travel agency Fliggy and Singapore Airlines enter mileage-sharing scheme (China/Singapore). The collaboration will extend benefits such as extra-baggage allowance, VIP lounge services, and hotel perks to select members of each company’s loyalty program. In addition, Singapore Airlines will be teaming up with Alibaba’s logistics unit Cainiao and fintech affiliate Ant Financial. (Alibaba)

Capital Float buys personal finance startup for US$30 million (India). The Amazon and Sequoia-backed online lender has acquired Walnut to boost its new consumer-lending venture. Walnut’s co-founders and its team of 35 employees will join Capital Float. (Inc42)

Flipkart snatches up speech-to-text startup Live.ai (India). The terms of the deal were undisclosed, though the ecommerce giant said it was willing to invest heavily in artificial intelligence and machine learning technologies. Live.ai’s solutions could potentially help Flipkart customers to shop using voice input. (Livemint)

Car-sharing startup Revv nabs undisclosed funding from Hyundai Motor (India). As part of the strategic partnership, the pair will jointly develop car-sharing products and mobility services platforms. (Livemint)

Fintech startup nabs US$20.5 million in private token sale (Singapore). The amount exceeded X Infinity’s initial US$18 million target and will go towards building its multi-cryptocurrency digital wallet. The startup is launching a physical debit card for the wallet that can be used at major bank ATMs and merchant services worldwide by the end of 2018. (X Infinity)

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