By Thomas Kutty Abraham
Bukalapak CEO drew the ire of Jokowi’s supporters for a Twitter post that said the government was spending too little on R&D, and suggested that a new president might do a better job of beefing up the budget.
The two firms are already battling in Brazil, where Didi bought local start-up 99 in January last year, and Mexico.
The additional capital from new investors would take the total haul from the current round to around $3 billion.
Pine Labs is in advanced talks to close a funding round of around $75 million from existing investors including Temasek and PayPal.
The higher borrowing limit helps Paytm secure capital for everyday operations amid tight liquidity conditions in the market.
The investment made through DiDi-controlled entity Star Virtue Investment is part of Oyo’s recently-closed $1 billion round that valued the company at $5 billion.
Didi spent a total of $1.67 billion on incentives to attract qualified drivers with at least three years’ of driving experience and no criminal record.
Tsai said the company’s growth would continue to outpace the broader economy as digital commerce expands faster.
The new service called ‘Swiggy Stores’, which will be accessible on its mobile app.
Prosecutors in Ho Chi Minh City have appealed a verdict ordering Grab to pay compensation to domestic taxi firm Vinasun.