Asia tech news roundup – Nov 29

Photo credit: Zimplistic

Here are some of today’s top tech stories from around the region.

Consumer tech

The startup behind Rotimatic reports US$20 million in annual revenue (Singapore). Zimplistic is also seeking series C investment so that it can take its smart flatbread-making machine to India and the Middle East. (Tech in Asia)

Fintech

Change raises US$17.5 million in token sale (Singapore). The fintech firm will invest the funds in product development. It plans to launch a cryptocurrency debit card and mobile wallet next month. (Tech in Asia)

BitFlyer to launch in the US (Japan). The Japanese cryptocurrency exchange has gained regulatory approval to operate in 41 states of the Union. It is also one of the 11 exchanges given the green light by regulators in Japan earlier this year. (TechCrunch)

Artificial intelligence

SenseTime reportedly gets US$227 million from Alibaba (China). The facial and image recognition startup would be valued at US$3 billion post-money as a result of the investment. (China Money Network)

Transportation

Photo credit: Mark Warner.

Uber partners with local payments app (Vietnam). The ride-hailing company will work with Goldman Sachs-backed Momo to enable cashless payments for its users in the country. Regional rivals Grab and Go-Jek offer cashless payments through their own apps. (Tech in Asia)

Meanwhile, the company reported record losses (Asia-Pacific). Uber posted a loss of US$2.9 billion between January and September this year, compared to US$2.8 billion for the whole of 2016. It is yet to reveal revenue for the same period, though the total value of bookings reached a record US$25.9 billion. (Tech in Asia)

Softbank may be after a big stake in Swiggy (India). Masayoshi Son’s firm is reportedly considering an investment of up to US$250 million in the food delivery startup, which is backed by South Africa’s Naspers and has also roused the interest of potential investors Flipkart and Tencent. (Inc42)

Media and entertainment

Passion Gaming secures US$3.25 million funding (India). UK firm Stride Gaming has invested in the online gaming company, which will use the funds to enhance its customer service, marketing, and tech teams. (Inc42)

Investors, incubators, and accelerators

SGInnovate declares deep tech targets (Singapore). The commercialization body aims to invest in at least 20 deep tech startups next year at pre-seed, seed, and series A stages. It is also renovating its BASH co-working space in Singapore’s One North tech park to better serve the needs of artificial intelligence and blockchain startups. (SGInnovate)

See: Previous Asia tech news roundups