Asia news roundup: JD prepares for US launch, space startup accelerator comes to Singapore

Photo credit: JD

Here’s a wrap of the region’s most recent news.

Ecommerce

JD to take on Amazon in the US (China/US). JD is preparing to enter the US by end-2018, stepping up its battle with archrival Alibaba and challenging Amazon on its home turf. The company may debut in Los Angeles first because of the city’s massive Chinese diaspora, and rely on partner and shareholder Wal-Mart for initial logistics support. Founder Richard Liu said JD would also foray into “every Southeast Asian country” by yearend. JD is now seeking funds to bankroll its global push. (Bloomberg)

Video streaming

Kuaishou closing $1b Tencent-led round (China). The Chinese live-video streaming startup is nearing the close of a US$1 billion funding round led by existing investor Tencent, according to Reuters sources. The latest fundraise, which also attracted Sequoia Capital China, will bring Kuaishou’s value to about US$18 billion. The round comes as the company considers an initial public offering to be held as early as the second half of 2018. (Reuters)

Medtech

Ratan Tata invests in medtech startup (India). Axio Biosolutions, said to be the first Indian company to launch an emergency haemostat for trauma care, has secured US$7.4 million in its series B round, led by Ratan Tata’s RNT Capital. Existing investors Accel Partners and IDG Ventures joined in. The company will use the money to expand into new markets and develop high-impact medical products. (Axio)

Investors, incubators, and accelerators

Photo credit: 4max / 123RF

Accelerator for space startups to launch soon (Singapore). The Singapore Space and Technology Association (SSTA) today announced plans for a six-month accelerator program for space startups looking to make an impact on the US$350-billion global space market. It’s going to be the first program in Asia to offer a comprehensive range of services for startups, claimed the SSTA. The accelerator will launch in the second quarter, and applications will open in August. (SSTA)

IdeaSpace offers startups nearly $20k awards in annual competition (Philippines). IdeaSpace Foundation, a pioneering accelerator based in Manila, is holding its sixth startup competition this year, with nearly US$20,000 worth of equity-free support up for grabs. Interested startups may submit their applications until February 2. (IdeaSpace)