Asia Digest: IDG Capital backs Taiwan’s Dexon; Australia’s Seek leads $10m round in GO1

A worker pulls a cart under the Liede Bridge over the Pearl River in Guangzhou, China, on Wednesday, Nov. 1, 2017. Photographer: Qilai Shen/Bloomberg

China’s investment firm IDG Capital has led a $20-million private placement for Taiwan’s blockchain platform Dexon. Meanwhile, in Australia, Seek has led a $10-million Series A funding round in education platform GO1 for market expansion.

IDG Capital leads $20m round in Taiwan blockchain player Dexon

Blockchain platform developer Dexon Foundation has raised $20 million in a private placement led by China’s IDG Capital. The round was joined by unnamed angel investors.

Dexon’s blockchain platform allows developers to create decentralized applications, or Dapps, with ease.

In terms of transaction speed, Dexon’s test runs show that the platform supports 50 blocks per second with 25 nodes. This represents an estimated rate of 1 million transactions per second comparison to Visa Inc. and MasterCard Inc’s processing range at an average of 1,971 transactions per second.

Dexon is led by Popo Chen who also leads COBINHOOD, a cryptocurrency exchange with a zero trading fee.

IDG Capital recently participated in a Series A+ investment round in Hangzhou-based electronic bike startup Qeebike and a $65-million Series B+ round in Xiangwushuo, a Beijing-based second-hand goods exchange platform.

Australia’s job platform Seek leads $10m round in edtech startup GO1

Australia’s employment platform Seek has led a $10-million Series A funding round in online education platform GO1 that has offices in Australia and US, according to media reports.

The platform gives users access to over 500,000 courses for professional development, leadership, management and others.

The financing raised will be used to for GO1’s expansion into new markets.

“We’re looking forward to deepening our involvement between Seej and GO1.com and look forward to increasing our presence in new markets around the world,” said Andrew Barnes, co-founder and CEO of GO1.

Founded in 2015, GO1 claims to have 22 million users, including Cricket Australia and Adshel.

Prior to the latest investment round, GO1 had raised $4 million in late 2016 from Black Sheep Capital, Blue Sky Ventures, Full Circle Ventures, and existing investors Tank Stream Ventures, Y Combinator, and Steve Baxter.

Seek’s other investments include backing a $4.6-million round in Verveo and an $8-million round in Employment Hero.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.