Tag Archives: investment

Grab nabs $2 billion in funding

Commentary

In its latest bid to strengthen its position against Uber in Southeast Asia, Singapore’s Grab has raised a whopping $2 billion in fresh funds from Didi Chuxing and SoftBank. Didi Chuxing is the Chinese ride-sharing giant that defeated Uber in China. According to reports, the fundraising is not over yet as existing and new investors are said to be pooling in $500 million more to the round. Grab will be valued at more than $6 billion at the close of the round. This fundraising solidifies the alliance between Didi Chuxing, SoftBank and Grab and presents a new challenge to Uber, which has been aggressive in its expansion in Asia.

China’s booming bike sharing sector

Commentary

First, there was the ride-sharing war between Didi Chuxing and Uber. Now, the battle for the best bike sharing startup is heating up. Bike sharing is thriving in China, with investors pouring hundreds of millions of dollars in to two of the country’s biggest players: Mobike and Ofo. To date, Mobike has raised a total of $928 million, while Ofo has recently received $700 million, raising its total funding to $1.29 billion. What attracts investors to these two startups is their mammoth scale. Each company boasts of having more than 100 million registered users and their bikes can be found in more than 20 cities in China. Now the big question is, can these companies be profitable given their weak business model, slim margins, and losses from thieves and vandals? It seems that investors are undeterred and both companies are eyeing global domination and have expanded outside of China.

View closes $200 million funding round

Commentary

Wouldn’t it be great if you had glass windows that adjust to weather conditions? View’s Dynamic Glass can do just that and even more. Dynamic Glass can maximise the flow of natural light into a room while minimising heat and glare. It can darken the light automatically depending on outdoor conditions. And if this isn’t enough, all of this can be commanded by an app. Dynamic Glass is one of the most exciting innovations today from View, a Silicon Valley-based startup specialising in large-scale smart glass technology. Last week, the company closed a $200 million funding round from TIAA and BlackRock. The company’s CEO Rao Mulpuri believes that windows will become more and more high tech in the next decades. The company is already doing its research on future technologies, like embedding transparent displays into windows. Today, View has finished over 300 projects and has over 100 commercial installations.

Indonesia’s Go-Jek raises $1.2 billion from Tencent

Commentary

Fresh from its $550 million funding round last year from investors such as KKR, Warburg Pincus, Farallon Capital, and Capital Group Private Markets, Go-Jek, Indonesia’s answer to Uber and Grab, has recently closed a new round of $1.2 billion led by Chinese internet leader, Tencent. At a $3 billion post-money valuation, Go-Jek is one of Asia’s fast-rising unicorns. According to sources, Go-Jek has been beating Uber in Indonesia since day one. By offering scooters instead of cars, Go-Jek has cautiously avoided a direct collision with the more established taxi industry. Being homegrown also gave the company the advantage of having a deeper understanding of the local market and easily attracted scooter owners to its platform. The company has since expanded into cars with its GoCar and today boasts of having over 200,000 drivers all across the country. The company plans to use its new funds to strengthen its Indonesian operations and hopefully dominate the country’s thriving ride-sharing market which is predicted to be worth $5.6 billion by 2025.