Google’s Tez payments app now lets users handle their utility bills and more

 Google’s Tez payment service in India has got a major update that allows users to pay their utilities and other bills via the app. The service was launched last September for iOS and Android and it initially allowed for payments between bank accounts using India’s UPI (Unified Payments Interface) protocol. Now the app has gotten support to pay for bills from more than 80… Read More

Read more

India’s Zoomcar raises $40M led by automotive giant Mahindra & Mahindra

 India’s Zoomcar — which operates an on-demand car rental service — has raised a $40 million Series C round led by Mahindra & Mahindra, the 70-year-old Indian corporation that specializes in automotive. Ford and other existing investors also took part in the round, Zoomcar confirmed. CEO and co-founder Greg Moran added that the round is still open and may be extended… Read More

Read more

Chat app Kakao’s games business lands $130M from Tencent and others ahead of IPO

 Korea’s dominant messaging firm Kakao is back raising funds after its games business, a standalone unit that is headed for an IPO, pulled in $130 million (140 billion KRW) from Tencent and a range of other strategic investors. The company, which owns Korea’s top mobile messaging app and one of the country’s largest internet portals, operates a sprawl of business that… Read More

Read more

JD.com’s logistics business raises $2.5B from Hillhouse, Sequoia China and others

 JD.com, the Chinese e-commerce giant that is Alibaba’s closest rival, is raising giving its logistics spin-out business a huge boost after it announced that the unit is raising $2.5 billion. JD Logistics, which became a standalone business last April, is raising the investment capital from a range of backers who include Hillhouse Capital, Sequoia China, China Merchants Group, Tencent,… Read More

Read more

Vynn Capital plans maiden $40M startup fund for Southeast Asia

 Southeast Asia has a new venture capital fund on the scene after Victor Chua, formerly a vice president at Gobi Ventures, launched Vynn Capital. The Kuala Lumpur-headquartered venture is founded by Chua and Singaporean Darren Chua, previously with IE Singapore, and it is targeting a $40 million total close. Chua declined to say how far advanced the project is, but we did a little digging… Read More

Read more

Foxconn is working with RED to make cheaper and smaller 8K cameras

 Foxconn, AKA Hon Hai Precision Industry, AKA the company that made your iPhone, is working with digital cinema pioneer RED to create affordable 8K cameras, the company announced. Chairman Terry Gou told reporters in Taipei, the Nikkei’s among them, that the goal is to reduce both the price and the size of such camera systems by two thirds. Read More

Read more

Alibaba invests another $1.3 billion into its offline retail strategy

 Alibaba has furthered its physical retail footprint after it invested another billion dollars into projects to develop its so-called “new retail” strategy which combines online and offline. The Chinese firm, the dominant e-commerce player in its country, gobbled up a 15 percent stake in Beijing Easyhome Furnishing for RMB 5.45 billion, or around $867 million, and pumped $486… Read More

Read more