Asia news roundup: Didi bikes enter the frame, while Mobike reportedly rakes in $1b

Photo credit: Didi Chuxing

Your daily dose of bike-sharing bedlam, as well as funding news from Malaysia, Singapore, and South Korea.

Transportation

Didi-branded bikes roll into action (China). The ride-hailing company is establishing its first own-brand dockless bike service in Chengdu, following the launch of its multibrand bike-sharing platform earlier this month. Didi recently signed a cooperation deal with financially troubled bike-sharing company Bluegogo, which is hosted on its multibrand platform alongside competitor ofo. Didi-branded bikes will replace some damaged Bluegogo cycles in the city, the company said today. (Didi Chuxing)

Mobike said to raise almost US$1 billion in new funding round (China). The dockless bike-sharing firm is rumored to have secured close to US$1 billion in new investment. Sources, however, did not reveal identities of the supposed investors. Mobike rival Hellobike is also rumored to be closing a US$1 billion round, with Ant Financial, Fosun Capital, and GGV Capital said to be among the participants. (Caixin)

Retail

StoreHub gets US$5.1 million for regional expansion (Malaysia). The startup provides a cloud-based point-of-sale system for small and medium-sized enterprises (SMEs), and is used in over 3,000 retail stores across 15 countries. It will use the funding to expand operations in its core markets of Malaysia, Thailand, and the Philippines. Singapore’s Vertex Ventures led the round, with Cradle Seed Ventures, Accord Ventures, and Fintonia Group joining in. (StoreHub)

Fintech

Lending platform Tera Funding receives US$9.3 million series A funding (South Korea). The peer-to-peer lender, which focuses on the real estate sector, will use the capital to improve its loan evaluation and risk management processes. Atinum Investment led the round, with Premier Partners, SBI Investment, and Woori Bank also investing. (Business Insider)

Capital Match closes oversubscribed series B round (Singapore). The invoice financing and secured lending startup will use the undisclosed amount of funding to support its expansion to Hong Kong, as well as to develop technology and grow its product portfolio. Facebook co-founder Eduardo Saverin’s B Capital led the round, with existing investor Dymon Asia also participating. (Capital Match)

Aye Finance secures US$6.28 million debt financing (India). The online lender will use the capital to enhance its product offerings for SMEs. The term loan came from IFMR Capital. (Inc42)

Investors, incubators, and accelerators

Tryb co-founder and CIO, Veiverne Yuen (L); Makara Innovation Fund director of investments, Kelvin Tan (M); and tryb co-founder and CEO, Markus Gnirck (R) / Photo credit: tryb

Tryb gets US$30 million from intellectual property (IP) fund (Singapore). The fintech venture builder received the investment from the Makara Innovation Fund, which is backed by private equity firm Makara Capital and the Intellectual Property Office of Singapore. Tryb will use the funding to acquire and develop fintech startups with strong IP in areas including SME lending, trade finance, and microcredit. (tryb)

UTEC raising US$226 million fund for university spin-outs (Japan). University of Tokyo Edge Capital (UTEC), the institution’s VC arm, is establishing one of Japan’s largest-ever funds for the research sector. It will target startups in fields including autonomous vehicles, AI, and healthcare, as well as partner with US-based VC firms and the National University of Singapore for international expansion. (Nikkei Asian Review)

See: Previous Asia news roundups