Date
17 February 2018

Startup

  • Instacart has completed a new funding round as it prepares for increased competition from Amazon in the online grocery services business. Photo: Instacart

    Grocery delivery firm Instacart raises funds amid Amazon battle

    - Feb 14, 2018 2:10pm
    Instacart, a US-based grocery delivery services startup, has raised US$200 million in fresh funds as it seeks to expand its operations and take on e-commerce behemoth Amazon in the fast-growing business segment. The new funding round valued...
  • OurCrowd sees Hong Kong as an important gateway to China and the Asia market, says founder and CEO Jonathan Medved. Photo: HKEJ

    Israeli crowdfunding platform OurCrowd seeks to expand in HK

    - Feb 12, 2018 12:20pm
    Israel-based OurCrowd has emerged as a key crowdfunding platform for accredited investors. Since its launch in 2013, the platform helped raise over US$650 million for 145 startups and some funds. In an interview the Hong Kong...
  • Some suggest regulation can help Hong Kong avoid the bike-sharing mess in mainland China. Photo: Reuters

    Bike-share firms don’t need regulation

    - Feb 9, 2018 6:13pm
    One year after the first bike-sharing firm began operations in Hong Kong, several new players have entered the market, igniting a fierce competition in the city. In the meantime, complaints about company practices and improper handling...
  • Urban travel planner app Citymapper has included a new feature on its app that offers fare information on various public transport options for the users. Photo: Citymapper

    Citymapper app adds comparative data on local transport fares

    - Feb 7, 2018 3:21pm
    Urban travel planner app Citymapper has added a new feature to its free app that provides information about fares for various public transport options, including concessionary interchange schemes. Gene Soo, general manager of Citymapper in Hong Kong,...
  • Blackstone Group chairman and  CEO Steve Schwarzman said he sees few financial institutions as "aspiring" as his own firm, with the exception of Masayoshi Son's SoftBank Group. Photo: Bloomberg

    Blackstone chief praises Masayoshi Son’s investment mettle

    Feb 2, 2018 6:34pm
    The head of the world’s biggest private equity firm paid tribute to Masayoshi Son, founder and chief executive of SoftBank Group Corp., for his investments in the field of technology. On a conference call with analysts...
  • After tasting success at home, China's Alipay and WeChat Pay are seeking to make inroads into the Hong Kong mobile payment market. Photo: Reuters

    HK fintech startups need partnerships to thrive: Emil Chan

    - Feb 2, 2018 12:20pm
    As dominant operators in China such as Alipay and WeChat Pay gear up to penetrate the lucrative Hong Kong mobile payment market, the scope of mobile payments, as well as fintech industry in general, in the...
  • Social shopping service Goxip has raised funds as it seeks to develop an influencer marketing platform and expand into new markets in Southeast Asia. Photo: Goxip

    Goxip raises US$5 mln in funding round led by Meitu

    - Jan 31, 2018 12:14pm
    Goxip, a Hong Kong-based social shopping service, has raised US$5 million in a Series A funding round led by Chinese beauty-enhancing app developer Meitu (1357.HK), with participation from a fund controlled by Hong Kong property developer...
  • Encouraged by the response to its Experiences program, Airbnb plans to expand it to 200 cities in the United States. Photo: Reuters

    Airbnb to expand Experiences program to 200 US cities

    Jan 29, 2018 5:37pm
    Airbnb, the online marketplace that allows people to lease or rent short-term lodging including vacation rentals and homestays, has announced plans to grow its Experiences program. The American company plans to increase the number of cities in...
  • Xiaopeng He, chairman of Xiaopeng Motors, stands with the company's newest sport-utility vehicle, the G3. Photo: Xiaopeng Motors

    Alibaba, Foxconn in US$350 mln funding round for EV maker Xpeng

    Jan 29, 2018 4:37pm
    Chinese electric-vehicle manufacturer Xiaopeng Motors is closing a 2.2 billion yuan (US$350 million) funding round led by Alibaba Group, Foxconn Technology Group and IDG Capital, according to an announcement Monday. Other investors include Yunfeng Capital, China...
  • Vitargent founder Eric Chen Zixiang aims to revolutionize how food, beverages, cosmetics and other products are tested for toxins in China. Photos: Vitargent, HKEJ

    Bio-test startup Vitargent taps into China food safety concerns

    - Jan 29, 2018 2:41pm
    In China, food scandals such as food poisonings or contaminations crop up on a fairly regular basis, like the melamine incident in 2008 when tons of milk powder were found tainted with melamine, an industrial chemical,...
  • Thomas Hui, co-founder of theDesk, a shared-office provider, said co-working space is not a real-estate business but closer to a community business. Photo: theDesk

    Co-work 2.0: Facilitating business organizational restructure

    - Jan 26, 2018 3:53pm
    Co-working space or shared offices have become a popular solution for startups and freelancers. The Hong Kong Economic Journal recently sat down with Thomas Hui, co-founder of theDesk, a shared-office provider seeking to develop an inclusive...
  • China’s Ofo has urged San Francisco transport authorities to follow the example of other US cities and allow multiple operators to participate in dockless bike-sharing service trial programs. Photo: Reuters

    Ofo urges SF authorities to revisit bike-sharing permit decision

    Jan 25, 2018 6:58pm
    Bicycle-sharing startup Ofo has written to transport authorities in the US city of San Francisco to reconsider their decision to deny a permit to the Beijing-based firm.  In a letter to the San Francisco Municipal Transportation Agency...
  • SoftBank CEO Masayoshi Son and his monster $100 billion Vision Fund are betting on a startup that is trying to shake up the construction industry. Photo: Reuters

    SoftBank leads US$865 mln investment in construction startup

    Jan 25, 2018 1:50pm
    SoftBank’s US$100 billion Vision Fund is leading an US$865 million investment in Katerra, a technology startup that uses an assembly-line-like system to construct houses and commercial buildings, the Wall Street Journal reports. The three-year-old startup positions itself as...
  • Venture capital investment globally was strong last year, but deal volume was weak, particularly in the final quarter, according to Venture Pulse. Photo: Reuters

    Global VC investment in 2017 totaled US$155 bln: report

    Jan 24, 2018 6:36pm
    Venture capital (VC) investment across the world totaled US$155 billion in 2017, according to the latest edition of Venture Pulse, a quarterly report on worldwide VC trends published by KPMG Enterprise.  In the fourth quarter, there...
  • The deal is the first co-investment by Google and Tencent since the two companies revealed this month that they have signed a patent-sharing agreement. Photos: Reuters, Bloomberg

    Google, Tencent join US$15 million funding for pharma startup

    Jan 24, 2018 3:56pm
    Alphabet Inc.’s Google, Tencent Holdings Ltd. and Sequoia Capital China have joined a US$15 million B series funding round for Boston- and Shenzhen-based artificial intelligence (AI) pharmaceutical firm XtalPi Inc., Reuters reports. Sequoia led the round, which...
  • Uber Technologies' chief executive Dara Khosrowshahi expects the ride-hailing business to become profitable in three years. Photo: Bloomberg

    Uber to be profitable within three years, CEO says

    Jan 24, 2018 1:01pm
    Despite its record loss and high cash burn rate, Uber Technologies’ chief executive Dara Khosrowshahi expects the company to become profitable in three years, Bloomberg reports. Uber will be able to turn a profit as the ride-hailing...
  • The acquisition of UrbanIndo, one of the largest property listings sites in Indonesia, will give 99.co added muscle to take on competitors in the region. Photo: 99.co

    Singapore firm buys Indonesia property listings site UrbanIndo

    Jan 22, 2018 6:05pm
    Singapore property listings startup 99.co has acquired UrbanIndo, one of the largest property sites in Indonesia. The acquisition will add UrbanIndo’s 1.2 million active property listings to 99.co’s 150,000 in Singapore, tech industry news website Tech...
  • Rokid is a Chinese startup that specializes in robotics research and artificial intelligence development. Its product lineup includes smart speakers called Alien (left) and Pebble (right). Photo: Rokid

    AI startup Rokid raises US$100 million in funding led by Temasek

    Jan 19, 2018 5:14pm
    Rokid, a Chinese robotics startup, has secured US$100 million in a Series B extension round of funding, led by Singapore’s state-owned Temasek Holdings. The company did not disclose the amount it raised, nor its market valuation...
  • Fano Labs uses speech recognition and natural languages processing to help out at clients’ call centers. Photo: Bloomberg

    Startup Fano Labs uses AI to understand Chinese dialects

    - Jan 19, 2018 2:23pm
    Horizons Ventures, billionaire Li Ka-shing’s private investment arm, has announced an investment in artificial intelligence (AI) startup Fano Labs, the firm’s first bet on a Hong Kong-based company. Fano Labs chief executive and co-founder Miles Wen recently...
  • Geely-backed ride-hailing startup Cao Cao raised 1 billion yuan in its Series A round of venture capital funding. Photo: Cao Cao

    Ride-hailing startup Cao Cao becomes China’s latest unicorn

    Jan 18, 2018 3:25pm
    Cao Cao, a ride-hailing startup backed by automaker Zhejiang Geely Holding Group, has become China’s latest unicorn after raising 1 billion yuan (US$155.1 million) in its Series A round of venture capital funding. Founded in November...

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