Date
10 December 2018

Startup

  • Zac Cheah, co-founder and chief executive of Pundi X, aims to boost cryptocurrency adoption in the mainstream market with its payment solutions provided to merchants and consumers. Photo: Pundi X

    Pundi X brings digital currencies to physical stores

    - Dec 10, 2018 1:47pm
    The phenomenal surge in the value of cryptocurrencies last year, when prices rose by more than 900 percent before settling down this year, has made them a new speculative target in the financial world. Despite the investment frenzy,...
  • WM Motor's first car, the electric SUV EX5. The new energy vehicle maker was founded by automobile veteran Freeman Shen in 2015. Photo: Reuters, Xinhua

    WM Motor, SenseTime to jointly develop AI applications for cars

    - Dec 6, 2018 3:25pm
    WM Motor, a Shanghai-based new energy vehicle maker, has partnered with Chinese artificial intelligence startup SenseTime to apply the latter’s facial recognition technology in automobiles. Freeman Shen, founder, chairman and chief executive of WM Motor, told the Hong...
  • Steered by Masayoshi Son, SoftBank’s mega tech fund has invested billions in promising startups around the globe, shaping a new landscape in the venture capital industry. Photo: Bloomberg

    SoftBank fund to hire China team, open Shanghai office: report

    Dec 5, 2018 1:02pm
    SoftBank Group’s Vision Fund is hiring an investment team to be based in China, with plans to open its first China office in Shanghai next year, according to Reuters. Citing sources with knowledge of the matter, the...
  • Airbnb co-founder and chief product officer Joe Gebbia leads the company's innovation lab Samara, which will run the new initiative called Backyard. Photo: Samara

    Airbnb unveils initiative to build and sell homes for sharing

    Dec 3, 2018 4:54pm
    Airbnb is expanding its home-sharing business by building and selling “affordable” homes that are “designed to be shared”. The company said it will start testing prototype homes as soon as next year under the new initiative called...
  • Helen Adeosun (middle), co-founder of CareAcademy, has won recognition for her startup that aims to provide opportunities for workers to prepare for future of healthcare. Photos: MIT, CareAcademy

    Senior care training startup CareAcademy wins MIT honor

    - Dec 3, 2018 12:24pm
    CareAcademy, a US startup that provides online classes for non-medical professional and family caregivers, has won the championship award in “skills development and opportunity matching” category in MIT’s Inclusive Innovation Competition this year. The company, headquartered in Cambridge,...
  • Hong Kong-based blockchain startup eMALI.IO, is currently working on blockchain solutions targeting medical insurance claims. Photo: eMALI.IO

    How blockchain could eliminate pain points in insurance business

    - Nov 30, 2018 12:47pm
    Blockchain, the distributed ledger technology, is increasingly seen as a viable solution to inefficiencies and loopholes in businesses. eMALI.IO, a Hong Kong-based blockchain startup, offers the technology to address various issues encountered by industries, particularly in the...
  • Plum co-founder Desmond Clinton Cheung believes the startup can continue its food delivery service even as the firm undergoes radical restructuring. Photo: HKEJ

    Food delivery startup depends on part-timers after mass layoffs

    Nov 28, 2018 3:58pm
    Plum, a Hong Kong-based online food delivery service platform, is believed to have fired almost all its full-time employees as it seeks to restructure its business amid financial difficulties. The one-year-old startup is now said to...
  • Cross-border payments startup Airwallex aims to build the global financial infrastructure of the next decade, says co-founder and CEO Jack Zhang. Photo: Airwallex

    Airwallex eyes more SMEs for international payments service

    - Nov 26, 2018 2:06pm
    Airwallex, a three-year-old fintech startup focused on international payments for businesses, is stepping up focus on Hong Kong and Southeast Asia, tapping small and medium enterprises in the region that seek to sell more goods in...
  • Global Fashion Group (GFG) aims to become the world’s leading online fashion destination in high-growth markets. Photo: GFG

    Zalora owner plans IPO, seeks up to US$2.85 billion valuation

    Nov 23, 2018 4:09pm
    Online fashion retailer Global Fashion Group (GFG), which owns fashion e-commerce platforms such as Zalora in Southeast Asia and The Iconic in Australia and New Zealand, plans to go public, Manager Magazin reported, citing unnamed insiders....
  • Co-working space operators see enormous opportunities in the mainland market despite concerns over the Sino-US trade war. Photo: theDesk

    HK co-working space brand set to enter mainland market

    - Nov 23, 2018 3:31pm
    Riding the wave of the startup boom, operators of co-working spaces are aggressively expanding in mainland China and Hong Kong. Last week, Chinese unicorn UCommune announced it has raised US$200 million in its biggest capital-raising round as...
  • A Tokopedia employee interacts with a visitor at a customer experience center. The Indonesian online marketplace has received further financial backing from Japan’s SoftBank. Photo: Tokopedia

    SoftBank puts more money into Indonesia’s Tokopedia: report

    Nov 22, 2018 4:03pm
    PT Tokopedia, which operates Indonesia’s dominant online marketplace, is raising US$1 billion from existing investors including SoftBank, Bloomberg reports, citing sources familiar with the matter. The latest fundraising deal values the firm at about US$7 billion,...
  • Harris Chan, CEO & co-founder of Cobo Academy, aims to develop children's critical thinking, collaboration, and communication skills with his coding school. Photo: HKEJ

    How a coding education startup got off the ground

    Nov 21, 2018 11:32am
    With an aim to transform traditional education, Cobo Academy, a Hong Kong-based startup co-founded by ex-Microsoft engineer Harris Chan, plans to provide children with early exposure to coding and robotics knowledge. “Digital education in Hong Kong...
  • Following an investment, Ping An aims to enhance Finleap’s growth by helping with AI and blockchain expertise. Photos: Reuters, Finleap

    Ping An invests in Berlin-based fintech incubator

    Nov 20, 2018 12:23pm
    Ping An Insurance Group (02318.HK) has invested in Berlin-based financial technology startup Finleap by participating in a funding round worth 41.5 million euros (US$47 million). Shenzhen-based Ping An, China’s largest insurer by market capitalization, made the investment...
  • Xinchao Media, a firm that displays advertisements in elevators, will use the new funds to better compete with arch-rival  Focus Media. Photo: Xinchao Media

    Baidu leads US$302 million investment in elevator ad firm

    Nov 15, 2018 3:23pm
    China’s largest search engine Baidu Inc. led a 2.1 billion yuan (US$302 million) investment in Xinchao Media, a firm that displays advertisements in elevators. The fresh money from its latest funding round will give Chengdu-based Xinchao Media more ammunition...
  • Roger Haenni (middle), co-founder and CEO of  Hong Kong-based blockchain startup Datum, said the adoption of blockchain technology is lower than expected. Photo: Datum

    Datum blockchain business won’t rely solely on token-economics

    - Nov 13, 2018 3:46pm
    (First of a two-part interview) Driven by the cryptocurrency mania, initial coin offerings have offered a new means for startups and projects to raise capital, with many tokens issued via ICOs reaching return rates of 10 and...
  • Datum is a blockchain-powered decentralized database that allows anyone to securely store data, while ensuring that individuals maintain control over their personal data and allowing them to monetize their data on their own terms. Photo: Datum

    Data breaches raise public awareness of risks to privacy: Datum

    - Nov 13, 2018 3:45pm
    (Last of a two-part interview) In today’s era of big data, businesses are collecting, aggregating, and analyzing all kinds of personal data they collect from customers to aid commercial decision-making. On the other hand, users of...
  • Hellobike seeks to raise US$400 million in its latest funding round. The startup was already valued at over US$2 billion after Ant Financial invested in it last year. Photo: Hellobike

    SoftBank to invest in China bike-sharing firm Hellobike: report

    Nov 12, 2018 2:11pm
    SoftBank is in talks to invest in Chinese bike-sharing startup Hellobike, despite the sharp slowdown in the Chinese market following exponential growth last year, Reuters reports, citing people with knowledge of the matter. The two companies...
  • The US automaker Ford has bought electric scooter sharing company Spin, adding the startup to its portfolio of alternative transportation offerings. Photo: Spin/Reuters

    Ford buys e-scooter startup Spin to beef up mobility business

    Nov 9, 2018 8:30am
    Ford, one of America’s pioneering car manufacturers, has acquired e-scooter and bike-sharing startup Spin as part of efforts to beef up its mobility business. Financial terms were not disclosed in the announcement, but Reuters reported that the...
  • Tink Labs, which offers the ‘handy’ smartphone service to hotel guests for free, is said to be roping in additional investments that could see its valuation hit the US$1.5 billion mark. Photo: Tink Labs

    Tink Labs raising US$300 mln in new funding: report

    Nov 7, 2018 11:24am
    Tink Labs, a Hong Kong-based startup that offers free-to-use smartphones docked in hotel rooms, has launched a new funding round worth up to US$300 million, according to TechCrunch. Citing sources with knowledge of the plans, the...
  • Fung Zhen-hong, chairman and president of Motao Box, said his firm has invested over 20 million yuan (US$2.89 million) in research and development for the project. Photo: HKEJ

    Motao Box, the cashier-less wine shop, is coming to HK next year

    - Nov 6, 2018 6:24pm
    Cashier-less checkout systems are seen by many as the next big trend in the retail and grocery sector. In August, a Guangzhou-based technology firm launched Motao Box, a wine store without a cashier, in the mainland...

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