Tokopedia said to be discarding own e-wallet in favour of OVO partnership

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By turning to OVO for a solution, Tokopedia is following Grab, which partnered with OVO in December last year, after failing to secure an e-money licence for GrabPay. 

Alibaba-backed HKAI Lab plans to support 20 startups annually, inducts first batch

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HKAI Lab is fully funded by the Alibaba HK Entrepreneurs Fund and SenseTime with support from HKSTP, Alibaba Cloud and the Alibaba DAMO Academy.


China’s self-driving auto startup Momenta raises new round at over $1b valuation

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Tencent, government funds from Shanghai and Suzhou, China Merchants Group, and CCB International participated in this round. 


India Dealbook: BigBasket buys RainCan; OYO enters Indonesia; Mynvax, Asiaville raise funds

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RainCan app will be rebranded as BBdaily and will offer subscription-based services


UK’s Entrepreneur First sets aside $20m to build deep-tech startups in India

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Entrepreneur First has launched a six-month programme in Bengaluru to help build 50 deep-tech startups in AI, machine learning and robotics.


India: Budget hotel brands Treebo and FabHotels initiate merger talks

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Treebo and FabHotels have been trying to raise fresh capital, but potential investors have so far shied away from putting money into companies competing with SoftBank-backed Oyo


Chinese co-working space unicorn Ucommune acquires local rival Fountown

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Ucommune’s moves to acquire smaller rivals is seen as a bid to consolidate its leadership in the mainland.


Nest Tech joins Myanmar fitness platform Flexible Pass funding round

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Nest Tech joins other investors Seed Myanmar and Yangon Capital Partners as part of the round.


Grab to double investments in safety standard initiatives across SE Asia

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The “Safer Everyday” programme was announced in partnership with government agencies across Southeast Asia.


Poultry firm Srinivasa Farms plans family office to invest in startups

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After delisting in 2015, Srinivasa Hatcheries transferred its poultry business to Srinivasa Farms and holds assets such as old farms whose value is increasing.