Asia news roundup: Hellobike raises $700m, Ola goes electric, and more

Ola plans to have 10,000 electric auto-rickshaws on India’s roads in the next 12 months. / Photo credit: Ola

Here’s a roundup of news from today and over the weekend that you might have missed.

Transportation

Hellobike nets US$700 million in fresh investment (China). The bike-sharing startup secured the funding from previous backers Ant Financial and Fosun, as well as seven new investors. Hellobike raised US$350 million in its December 2017 series D round, with electric vehicle (EV) maker WM Motor and bike manufacturer Fujita among the participants. It acquired rival bike-sharing startup Youon Bike the preceding October. Ant Financial and its parent Alibaba also back bike-sharing firm Ofo, while competitor Mobike was acquired by Meituan-Dianping earlier this month. (China Money Network)

Photo credit: Hellobike

Ola to build on its Indian fleet with 10,000 electric rickshaws (India). The ride-hailing company has announced that over the next 12 months, it will add 10,000 electric auto-rickshaws to its pool of vehicles. Last year, Ola started an EV trial program in Nagpur that included rickshaws. The new addition is part of the firm’s plan to roll out 1 million EVs onto India’s roads by 2021. (TechCrunch)

Media and entertainment

Pear Video secures US$98.2 million investment from Baidu and Tencent (China). Pear Video provides news updates in short video format, typically of 30 seconds to three minutes in length, and claims to get 1 billion clicks each day. Tencent led the series A round, marking the latest of several investments it has made in video-related startups recently, with web giant Baidu also taking part.  (China Money Network)

Video++ closes US$55.6 million funding from Alibaba and others (China). The startup – also known as Jilian Technology – digitizes videos and then uses AI tech to recognize and tag content relevant to brands, celebrities, products, and so on, helping with targeted advertising. It has partnered with video streaming platforms including Youku, iQiyi, Mango TV, Douyu, and Panda TV, and booked US$79.6 million in revenue last year. Facial recognition startup Face++ co-led the round with Alibaba, while Yunfeng Capital and Toutoushidao Capital also participated. (China Money Network)

Health and well-being

Affordplan raises US$10 million in series B round (India). The New Delhi-based startup works with medical services providers to make healthcare more affordable through planned savings for non-emergency medical services. Lok Capital led the round, with Kalaari Capital, Omidyar Network, and Prime Venture Partners, also taking part. Affordplan said it would use the funds to expand in India and launch new savings, lending, and insurance products to cover healthcare expenses. (Inc42)

HyTriage lands US$4 million in funding (China). The healthcare startup, which develops and supplies diagnostic testing kits to hospitals and other medical institutions, has announced the closing of its latest funding round from Yahui Medical Fund. HyTriage will use the capital to expand its market and refine its product. (KrAsia)

Data analytics

MiningLamp gets US$159 million in Tencent-led series C fundraise (China). Tencent and Chinese asset management firm China Renaissance co-led the investment in MiningLamp, which provides big data solutions for clients including the People’s Bank of China, China Everbright Bank, and train maker CRRC Corporation. The startup raised US$30 million in its 2016 series B round, which was led by Sequoia Capital. (China Money Network)

Fintech

Silot raises US$2.87 million in pre-series A round (Singapore). The local fintech startup, which aims to help banks process digital payments more efficiently and securely, closed its pre-series A round from Arbor Ventures and Eight Roads Ventures. Silot will use the fresh funding to expand its business in Southeast Asia, where it’s planning to hire more people. Last year, it bagged US$800,000 in seed funding from ZhenFund, which is the China-based angel fund’s first investment in Southeast Asia. (Tech in Asia)

Silot CEO Andy Li (center) and team members at the Visa Everywhere Initiative in Thailand, where Silot won the People’s Choice Award / Photo credit: Silot

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