Asia tech news roundup – Dec 1

Photo credit: Didi Chuxing.

As we head into the weekend, Didi has decided to leave the US market to its strategic partner Lyft, while a platform that turns gold bullion into cryptocurrency is among the startups to raise funding.

Transportation

Didi Chuxing cedes the US to Lyft (China). The Chinese ride-hailing firm has ended a trial it began in April last year which allowed Chinese tourists visiting the US to use local player Lyft through its own app. Didi is now encouraging its users to hail rides with Lyft, in which it invested US$100 million in September 2015. (Technode)

Holachef gets US$1.38 million (India). The mixed debt and equity investment in the food delivery startup came from several angels and family offices as well as software firm IPI Technolab and Innoven Capital, a venture debt arm of Singapore state fund Temasek. (VCCircle)

Ecommerce

Befikr raises US$2 million in series A funding (India). The marketplace for home services such as plumbing, carpentry, and electricians, will use the money for marketing and expanding its reach in Delhi and Pune. The investors were not disclosed. (Inc42)

Media and entertainment

One Championship founder and CEO, Chatri Sityodtong. Photo credit: One Championship.

One Championship expands executive team (Singapore). The martial arts-focused sports media company has hired private equity specialist Hua Fung Teh as chief financial officer, Intel alumnus Mahesh Subramanian as chief technology officer, and tech startup veteran Souvik Dutta as vice president of engineering. The new hires will help the company as it pushes into mobile and OTT streaming. (One Championship)

Tencent and Spotify are in talks for a deal (China). Tencent’s music group and Spotify may swap up to 10 percent stakes in each other’s businesses. The two are planning to join forces for future licensing negotiations with major music labels, The Wall Street Journal reported, citing people familiar with the matter. The move comes ahead of their expected public listings next year. (WSJ)

Liquid Comics gets US$5 million investment (India). The parent company of Graphic India, which is creating a range of graphic novels and animated TV series based on Indian mythology and popular culture, received the capital injection from Start Media, 3one4 Capital, and a number of angel investors. (TechCrunch)

Data-light YouTube app arrives in beta (Southeast Asia). Now available in Malaysia, Thailand, Vietnam, and the Philippines, YouTube Go is aimed at users in countries where mobile data availability might not be as complete as in other countries. Users can download content using wifi to watch later while they’re on the move. (Mashable)

Fintech

Photo credit: dariohayashi / 123RF

Digix secures US$1.25 million for gold tokenization platform (Singapore). Japan’s Global Brain led the seed round with China’s Fenbushi Capital joining in. The startup previously raised US$5.5 million from its initial coin offering. (Tech in Asia)

Medtech

Consumer tech