In brief: Temasek takes $225m stake in Ola

Photo credit: Ola

Temasek banks US$225 million on Ola (India). The Singaporean sovereign investment firm reportedly bought the shares from a group of early investors. Temasek is also said to be in talks with Ola to inject further funds into the company.

Based on earlier reports, Ola has been seeking to raise about US$1 billion to diversify its shareholder base. The ride-hailing app has been valued at as much as US$7 billion according to some reports. (The Economic Times)

Other news

Central bank fines digital payments firms including Alipay (China). Four payment services firms, including Union Mobile Financial Technology, Gopay, and Ant Financial’s Alipay were fined a combined US$14.7 million by the People’s Bank of China for breaching service regulations. It was unclear which rules were violated by Alipay – which is said to have been fined US$602,000, the smallest amount of the four – but the firm said it was fined due to “certain irregularities” related to its payment services in China. (South China Morning Post)

Bytedance said to be raising US$3 billion (China). The tech company is targeting US investors for a possible pre-IPO funding round, according to reports. The new injection of capital could raise the value of Bytedance to around US$75 billion. (The Wall Street Journal)

Travel services booking platform Klook nets US$200 million funding (Hong Kong). Investors Matrix Partners, Sequoia China, Goldman Sachs, and Boyu Capital participated in the round. Klook plans to use the proceeds to expand into the US and Europe. (China Money Network)

Shadowfax pockets US$22 million in series C financing (India). Led by NGP Capital, the round also saw participation from Qualcomm Ventures, Mirae Asset, and Eight Roads Ventures. The Bangalore-based Shadowfax has a presence in 80 cities across India, and plans to grow its last-mile express logistics service to more than 100 locations in the next three months. (Shadowfax)

Hansel.io gains US$4 million in Vertex Ventures-led round (India). Existing investors IDG Ventures India and Endiya Partners also participated in the round. The money will bankroll the mobile app management startup’s plans to grow its presence in international markets and expand its team. (Hansel.io)

See: Previous Asia tech news