17 February 2019


  • Keith Rumjahn, co-founder of OliveX, launched the Lympo Squat, an app powered by artificial intelligence that allows users to perform squats and rewards those who completed the challenge with virtual tokens. Photo: OliveX

    OliveX launches fitness app that rewards users with crypto coins

    - Feb 15, 2019 3:33pm
    Earn money while you do workouts. Hong Kong-based fitness solutions startup OliveX has launched a “squat to earn cryptocurrency” challenge with Lympo Squat, an app powered by artificial intelligence that allows users to perform squats and...
  • An Oyo property in the Chinese city of Chengdu. The India-based budget hotel network has received fresh capital from Didi Chuxing to double down on its business in China. Photo: Oyo

    Didi invests US$100 mln in India’s Oyo Hotels: report

    Feb 14, 2019 3:54pm
    Chinese ride-hailing behemoth Didi Chuxing has invested US$100 million in Indian hospitality startup Oyo Hotels & Homes, India’s Economic Times newspaper reports. The investment came amid a US$1 billion financing round led by Oyo’s existing backer...
  • Soocas, founded by Meng Fandi, focuses on personal care products such as electric toothbrushes, hair dryers and electric shavers. Photo: Soocas

    China electric toothbrush maker Soocas raises fresh capital

    Feb 12, 2019 2:38pm
    Shenzhen-based Soocas, a technology company focusing on personal digital products for health care, has completed a Series C funding round worth 200 million yuan (about US$30 million). The financing round was led by Vision Knight Capital,...
  • Victor Lang, co-founder and COO of gini, said the startup has just completed a $1.6 million funding round, allowing it to expand overseas. Photo: HKEJ

    Personal finance app gini welcomes competition from bank giants

    - Feb 8, 2019 2:47pm
    Hong Kong-based startup gini piloted last year a spending tracker app that allows users to bring together all their accounts and credit cards in one spot, enabling them to keep track of their finances conveniently. Recently,...
  • Tech entrepreneur Yat Siu founded Hong Kong’s first internet provider, and then a conglomerate specializing in cloud and smartphone software. Photo: HKEJ

    Tech legend Yat Siu doubles down on blockchain gaming

    - Jan 30, 2019 1:54pm
    Famed tech entrepreneur Yat Siu, who launched Hong Kong’s first internet provider and founded a conglomerate specializing in cloud and smartphone software, is riding high on the next big wave in the industry: blockchain technology. In...
  • StockViva, a financial social platform that features instant trading ideas from fund managers, analysts and investors, claims to have amassed hundreds of thousands of users. Photo: StockViva

    Alibaba fund invests in financial social network StockViva

    - Jan 29, 2019 12:49pm
    Financial social platform StockViva has completed a Series A funding round that saw capital being raised from the Alibaba Entrepreneurs Fund.  The Alibaba fund invested in the Hong Kong-based startup, though the amount is not known, according...
  • Ted Livingston, founder and CEO of Kik, is said to be challenging the US securities watchdog over an expected enforcement action in relation to the firm’s ICO. Photos: Kik Interactive, Kin Foundation

    Kik plans to challenge SEC over 2017 ICO: report

    Jan 28, 2019 3:21pm
    Kik Interactive, the entity behind the Kik messenger platform, plans to challenge an expected enforcement action from US Securities and Exchange Commission (SEC) over the Canada-based firm’s initial coin offering (ICO), the Wall Street Journal reports. In...
  • Lalamove's fleet of delivery vehicles is specific to the local geography.  Motorcycles are important because they can move in and out of traffic in highly congested streets. Photo: Lalamove

    Hong Kong logistics startup Lalamove enters India

    Jan 23, 2019 1:38pm
    Hong Kong logistics startup Lalamove is expanding its on-demand delivery services to India, Tech in Asia reports, citing Blake Larson, the company’s managing director (international).  The move follows its fast expansion into Southeast Asian countries such as...
  • Warung Pintar aims to transform traditional small shops in Indonesia into prefabricated, tech-integrated kiosks featuring tech appliances, POS system and other smart facilities. Photo: Reuters

    Indonesian micro-retail tech startup raises fresh funds

    Jan 22, 2019 12:46pm
    Warung Pintar, an Indonesia-based startup focusing on micro-retail technology, has completed a Series B funding round worth US$27.5 million as it seeks to help more street vendor shops digitize their businesses. The fresh capital comes from...
  • Duncan Wong, CryptoBLK’s co-founder and CEO, is among the tech enthusiasts who are seen as having driven HKMA's early dalliances with blockchain technology. Photo: HKEJ

    CryptoBLK lures bank giants to bring blockchain to trade finance

    - Jan 21, 2019 4:19pm
    In October 2015, The Economist published a much-discussed report on blockchain, featuring the topic on the magazine’s cover along with the tag line “The Trust Machine: How the technology behind Bitcoin could change the world.” Since...
  • Touted as WeChat challenger, Bullet Message introduced a new messaging app called Liaotianbao, with new functions and rewarding features to boost adoption. Photo: Liaotianbao

    Bullet releases new chat app, joining other WeChat challengers

    Jan 16, 2019 4:06pm
    Bullet Message, a Chinese messaging startup that has signaled ambitions to challenge WeChat’s dominance in the market, has introduced a new app-based networking service called “Liaotianbao”. Released on Tuesday, Liaotianbao, roughly meaning “a nice tool for...
  • "Mo-jing", the app featured in mainland TV drama "Entrepreneurial Age", is based on the TalkBox app launched by Hong Kong mobile app developer Green Tomato. Photo: Zhejiang Huace Film & TV

    How a popular TV drama boosted HK startup MailTime

    - Jan 11, 2019 2:14pm
    After the excitement generated by its US$40 million initial coin offering (ICO), Hong Kong-based email messenger service MailTime finds itself contending with the cryptocurrency market crash and the venture capital winter. The startup, which created an...
  • Adam Neumann, co-founder and CEO of WeWork, a startup that offers flexible shared workspaces for entrepreneurs. The startup has received billions from SoftBank and its Vision Fund. Photo: Reuters

    SoftBank said to have scrapped plan to buy most of WeWork

    - Jan 9, 2019 2:10pm
    Japanese tech and telecom heavyweight SoftBank is pouring more capital into US-based co-working space giant WeWork to fuel its global expansion.  However, it has withdrawn a plan to invest US$16 billion to buy most of WeWork, and...
  • Hong Kong billionaire Li Ka-shing boosts his bitcoin investments with his participation in the funding round for cryptocurrency venture Bakkt. Photo: Reuters

    ICE-owned crypto startup Bakkt gets Li Ka-shing on board

    Jan 8, 2019 12:21pm
    Hong Kong billionaire Li Ka-shing has joined other tech and venture capital heavyweights in supporting cryptocurrency venture Bakkt in its first funding round. The startup, backed by Intercontinental Exchange (ICE), the parent company of the New York Stock...
  • EMQ, led by co-founder and CEO Max Liu, has partnered with banks and fintech peers to build a cross-border settlement network across Asia, supporting enterprises and e-wallet operators. Photo: EMQ

    How a startup helps WeChat in Asian remittance battle

    - Jan 7, 2019 2:34pm
    As China’s digital payments industry has become somewhat saturated after years of explosive growth, mainland service providers have begun stepping up focus on overseas markets. Amid such efforts, WeChat Pay, the payment service of internet giant Tencent...
  • Adapting to China’s mobile-focused consumers, Luckin promises to deliver drinks to customers within 30 minutes after an order is placed. Photo: Reuters

    Chinese coffee startup Luckin: We won’t be the next ofo

    Jan 4, 2019 3:01pm
    Fast-growing Chinese coffee chain Luckin said it aims to be the country’s largest coffee chain by the number of cups sold and outlets this year, overtaking Starbucks, which has about 3,300 stores nationwide. “What we want at...
  • Chinese ride-hailing giant Didi Chuxing is aiming to become a big player in the fintech arena with newly launched financial services via the mobile platform. Photo: Bloomberg

    Didi forays into financial services to broaden revenue streams

    Jan 3, 2019 1:47pm
    China’s Didi Chuxing has rolled out a suite of financial products, including auto insurance, personal loans and crowdfunding services, on its mobile-based platform, diversifying its business as the core ride-hailing operation faces a potential slowdown. The...
  • A worker rides a shared bicycle past a huge pile of unused bikes in a vacant lot in China. The market has seen several fast-growing Chinese bike-sharing startups going bust in 2018. Photo: Reuters

    China startup frenzy seen cooling further in 2019

    - Jan 2, 2019 1:57pm
    Chinese startups had been flooded with venture capital in the past few years, and the hype contributed to inflating the startup valuation, but it seems the trend has begun to reverse in recent months. In interviews...
  • Hellobike has focused on third- and fourth-tier cities, giving it an edge over its giant rivals, which have targeted big cities. Photo: Hellobike

    Alibaba-backed Hellobike raises mega funds amid ofo crisis

    Dec 31, 2018 12:26pm
    While Chinese bike-sharing giant ofo remained trapped in a cash crunch, its smaller rival, Hellobike, said it has secured new funding from existing investor Ant Financial, Alibaba Group’s financial and payment arm.  Aside from bikes and electric...
  • Online tutoring startup Yuanfudao provides live courses to students across China via a mobile-based online platform. Photo: Yuanfudao

    Tencent leads funding round for online tutoring firm Yuanfudao

    Dec 27, 2018 5:14pm
    Capitalizing on the emerging trend of online education in China, Yuanfudao, a startup that provides live courses and tutoring through a digital platform, has raised US$300 million in a funding round led by existing investor Tencent,...

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