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36Kr (EN)

<h3>Crimson Education raises SGD 53.5 million in Series D funding</h3>
Crimson Education, an edtech company with a significant presence in Singapore, has raised SGD 53.5 million (USD 40.2 million) in a Series D funding round led by Movac, with participation from HEAL Partners, Icehouse Ventures, US News, Five Sigma, and HighSage Ventures.
Known for its personalized education consulting and online learning platforms, Crimson plans to use the funds to expand its offerings in Singapore, focusing on academic excellence and global opportunities for students.
The funds will further support Crimson’s online high school, the Crimson Global Academy (CGA), enhancing its advanced placement (AP) course offerings to help students strengthen their academic profiles for college admissions.
<figure id="attachment_150685" aria-describedby="caption-attachment-150685" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-150685" src="https://console.kr-asia.com/wp-content/uploads/2024/11/Crimson-Education-Fangzhou-Jiang-Jamie-Beaton-1024x576.jpg" alt="Photo of Fangzhou Jiang (left) and Jamie Beaton, co-founders of Crimson Education. Jiang serves as chief product officer, while Beaton is the CEO. " width="1024" height="576" srcset="https://console.kr-asia.com/wp-content/uploads/2024/11/Crimson-Education-Fangzhou-Jiang-Jamie-Beaton-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/11/Crimson-Education-Fangzhou-Jiang-Jamie-Beaton-300x169.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2024/11/Crimson-Education-Fangzhou-Jiang-Jamie-Beaton-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2024/11/Crimson-Education-Fangzhou-Jiang-Jamie-Beaton-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2024/11/Crimson-Education-Fangzhou-Jiang-Jamie-Beaton-480x270.jpg 480w, https://console.kr-asia.com/wp-content/uploads/2024/11/Crimson-Education-Fangzhou-Jiang-Jamie-Beaton.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-150685" class="wp-caption-text">Photo of Fangzhou Jiang (left) and Jamie Beaton, co-founders of Crimson Education. Jiang serves as chief product officer, while Beaton is the CEO.  Photo and header photo courtesy of Crimson Education.</figcaption></figure>
<h3>MUIP invests in Japanese ridesharing platform Newmo</h3>
MUFG Innovation Partners (MUIP), the venture capital arm of Mitsubishi UFJ Financial Group (MUFG), has made an investment in <a href="https://newmo.me/">Newmo</a>, a Japan-based startup specializing in taxi and ridesharing services. The amount was not disclosed.
This investment aims to foster collaboration between Newmo and MUFG’s business units, enhancing service offerings for both individual riders and corporate clients seeking transport solutions.
Newmo, established to address Japan's rising demand for flexible transportation options amidst labor shortages and an aging taxi driver workforce, partners with taxi operators nationwide to support diverse work styles for drivers. Through this investment, MUIP and Newmo will explore joint service expansions targeting Newmo's user base.
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<h3>Recent deals completed in China:</h3>
<ul>
<li aria-level="1"><a href="https://www.oral-craft.com/">Keli Kouyu</a>, an artificial intelligence-driven English learning app, has raised an undisclosed eight-figure RMB sum in an angel funding round led by Next Capital, with Yuanhe also participating and serving as exclusive financial advisor for this round and subsequent fundraising efforts. The company, founded in 2023, aims to allocate the fresh capital toward team expansion, technology development, and marketing. —<a href="https://36kr.com/p/3027441691125252">36Kr</a></li>
<li aria-level="1"><a href="https://www.conan.ltd/">Conan AI</a>, a technology company focused on AI-enabled educational tools for children, has raised an undisclosed eight-figure RMB amount in an extended angel round of financing led by Tiger Capital, with China Peakedness providing long-term financial advisory. The funds will be directed toward product manufacturing, supply chain optimization, marketing, and bolstering its algorithms and computing capabilities. —<a href="https://36kr.com/p/3030337708369409">36Kr</a></li>
<li aria-level="1">PepperHi Global Ventures, a venture studio bridging China and global markets, has completed an angel funding round led by Wisee Capital, with additional participation from TusHoldings Seeds Fund and Kairous Capital. This funding will support its expansion across Southeast Asia. PepperHi will also use the capital to enhance its support for Chinese companies navigating international markets and forming cross-border partnerships. —<a href="https://technode.global/2024/11/11/chinas-pepperhi-secures-angel-funding-led-by-wisee-capital-to-accelerate-cross-border-expansion-innovation/">TechNode Global</a></li>
</ul>
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<h3>Cards, Jollibee, The Hosteller, and more made recent headlines:</h3>
<ul>
<li aria-level="1"><a href="https://cards.co.id/">Cards</a> (stylized as “CARDS”), an Indonesian edtech startup, raised an undisclosed amount in a seed funding round led by Katha VC, with support from DS/X Ventures and EduSpaze.</li>
<li aria-level="1">The parent company of Philippine fast food giant Jollibee acquired Hong Kong’s Tim Ho Wan chain in a USD 15.3 million deal, securing full ownership by purchasing Titan Fund’s remaining 8% stake.</li>
<li aria-level="1">The Hosteller, an Indian backpacker hostel brand, completed a Series A funding round, securing INR 480 million (USD 5.7 million) in equity led by V3 Ventures, with participation from Synergy Capital Partners, Real Time Angel Fund, and individual investors.. An additional INR 160 million (USD 1.9 million) was raised in venture debt from Black Soil.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Crimson Education raises Series D funding, MUIP backs Japanese ridesharing platform Newmo, latest China deals, and more

Venture Capital

Angel Investing

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Japan

When American basketball star Kyrie Irving visited Thailand in September, a first for an active player in the NBA, fans swarmed the Bangkok flagship store of his main sponsor, Chinese sportswear brand Anta.
Each piece purchased from Irving's Anta collection guaranteed a ticket to his events at the store, with special perks for top spenders including a brief meeting with their hero. Dees, a Thai dance instructor in his 40s who described himself as an Irving "superfan," came to the event with his friends, all wearing pieces from the collection.
"I'm Anta's best customer," Dees boasted to Nikkei Asia, saying he owned three pairs of Irving shoes, each priced at THB 4,990 (USD 148).
Anta has opened half a dozen stores in Thailand since the flagship venue in Bangkok last year, while also expanding its presence in the rest of Southeast Asia. It already has stores in Vietnam, the Philippines, and Malaysia.
The move is part of a growing trend among sportswear brands to tap a region considered to have better growth prospects than more mature markets such as China or the US. Sportswear sales for all brands in the region are set to grow from USD 7.5 billion this year to USD 10.1 billion in 2029, according to market research provider Euromonitor International.
As Southeast Asian consumers embrace physical fitness and casual dressing, newcomers like Anta and Li-Ning of China, American running shoe maker Hoka, and Swiss brand On are challenging global leaders Nike and Adidas.
The sportswear industry is looking to recover from inflation and overstock issues that began in 2023, with Euromonitor projecting global sales growth of 6.2% in 2024 and 6.4% in 2025.
"This is by far a better performance than the wider apparel and footwear industry, as dress codes around the world continue to casualize and consumers across generations take greater interest in being fit and healthy," said Marguerite Le Rolland, industry manager for apparel and footwear at Euromonitor.
Anta's global market share increased from 2.92% in 2022 to 3.38% in 2024, while that of market leader Nike dropped from 17.06% to 15.72%. Adidas has been on a similar decline. Anta raked in USD 4.7 billion in revenue in the first half of 2024, a 13.8% increase. Nike, meanwhile, saw its net income fall 28% in the past quarter, with declines in revenue from North America and Western Europe partially offset by growth in Asia so far this year.
Participating in sports that require less skill like pickleball, paddle, and running are gaining ground in Southeast Asia, while viewership for basketball, soccer, and tennis remains strong. Damien Yeo, consumer and retail analyst at BMI, a Fitch Solutions company, noted that "while sportswear subcultures like sneakerheads may be reaching saturation in markets like the US and China, the expansion of the trend in Southeast Asia has not reached the point of saturation."
Chinese brands like Anta, which can cut costs by controlling its entire value chain, are well-positioned to win the loyalty of price-sensitive Southeast Asian consumers from prestige brands. The cheapest variety of Irving's Shockwave basketball shoe with Anta can be bought for less than USD 100 in Thailand, while Nike's Air Jordan retails from USD 127–230.
In the Philippines, the NBA's second largest viewer base outside the US, "consumer brand loyalty is often tied to perceptions of quality and prestige, with global giants like Nike and Adidas still seen as top-tier choices. However, we're seeing a shift," said Anindhitha Maniath, senior research analyst for Southeast Asia at Euromonitor.
"Consumers in Southeast Asia are generally price sensitive, and affordability and value for money have been key factors," she added.
Filipino entrepreneur Monti Comia is pragmatic when it comes to buying shoes, choosing to look at price and value, but pointed out that some consumers still consider athlete endorsements. "There are Filipinos who tend to perceive Western brands as more prestigious, but there's also a growing appreciation for local and Asian brands that offer quality products," he said.
Athlete endorsements lend "credibility and aspirational value" to brands, driving up consumer engagement, sales and brand loyalty. Nike's Air Jordan, named after Michael Jordan, is the bestselling basketball shoe of all time. Its LeBron James collection has seen considerable success in Asia, driven by basketball's popularity in markets like the Philippines and China.
"Despite signing deals with some NBA players in the US in the past few years, Anta still has not had its big breakthrough in Europe and the US," Le Rolland said.
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Anta still trails Nike in its home market, but global brands are increasingly losing their edge in China. Local brands have a combined 60% of the Chinese market, according to the consultancy McKinsey, benefiting from the "guochao" trend, a form of consumer nationalism that prefers local brands.
Kyrie Irving sneakers are the third bestselling basketball shoes in China, with Nike's Air Jordans ranking first. "Number three is not a bad place to be," said Kyle Bowman, Anta's director of global sales. "Southeast Asia is Anta's second largest market after China. The third is the Middle East, and we just entered the US last year."
But Chinese consumers are likely to remain constrained under tough economic conditions. "Anta still relies on China," said Le Rolland, but it has pursued an "upmarket brand strategy with the acquisition of various established brands such as Salomon, Arc'teryx, and Wilson" that have more cachet with Western consumers.
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Business/Business-trends/Chinese-sportswear-brands-flood-into-Southeast-Asia-in-search-for-growth" rel="noopener noreferrer" data-token-index="1">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing <a tabindex="0" href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" rel="noopener noreferrer" data-token-index="3">partnership with Nikkei</a>.

Chinese sportswear brands flood into Southeast Asia in search for growth

China Tech

E-Commerce

Fashion

Creative

Retail

… href="https://36kr.com/p/3017705351259399">article</a> was written by Feng Min for 36Kr.
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Infinity Nikki’s beta teases AAA potential in female-focused gaming

Gaming

Tokyo Stock Exchange (TSE)’s recent seminar series, “The Ultimate Guide to IPO in Japan,” marked a notable step in connecting Japan’s capital markets with Southeast Asia’s startup ecosystem. Held in Singapore and Ho Chi Minh City, the events gathered a diverse mix of entrepreneurs, venture capitalists, and private equity executives, all keen to understand Japan’s IPO landscape. With insights into the pathways and support available for ASEAN startups, TSE made a compelling case for Japanese listings.
<figure id="attachment_150673" aria-describedby="caption-attachment-150673" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-150673" src="https://console.kr-asia.com/wp-content/uploads/2024/11/TSE-IPO-Seminar-HCMC-Networking-1024x683.jpg" alt="" width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2024/11/TSE-IPO-Seminar-HCMC-Networking-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/11/TSE-IPO-Seminar-HCMC-Networking-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2024/11/TSE-IPO-Seminar-HCMC-Networking-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2024/11/TSE-IPO-Seminar-HCMC-Networking-1536x1024.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2024/11/TSE-IPO-Seminar-HCMC-Networking.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-150673" class="wp-caption-text">Tokyo Stock Exchange’s seminar in Ho Chi Minh City drew strong interest, with attendees eager to explore Japan’s capital market opportunities. Photo of the networking session at the HCMC event. Photo and header photo courtesy of Tokyo Stock Exchange.</figcaption></figure>
For Southeast Asian startups, Japan’s stock market holds a distinct appeal, offering high liquidity and robust valuations. While Western markets become more wary, affecting valuations globally, Japan’s steady economic framework presents a more stable alternative. The TSE offers a way for companies to access substantial capital while maintaining proximity to their Asian operations and tapping Japan’s investor network.
The seminars went beyond highlighting TSE’s benefits, positioning it as a gateway for growth-oriented companies that want the backing of Japanese investments but without the high barriers and regulatory requirements found in markets like the US. TSE’s approach presents a more accessible option for ASEAN firms looking to scale.
TSE’s seminars didn’t merely spotlight the exchange’s perks. With backing from partners like Nomura Securities, Mitsubishi UFJ Trust, and the Japan External Trade Organization (JETRO), sessions took a practical turn, guiding startups through Japan’s IPO process.
Key topics covered include listing requirements, audit timelines, and J-SOX compliance—Japan’s corporate governance standard. Experts also clarified complex listing structures, such as Japan Depositary Receipts (JDR) and corporate inversion, which allow foreign companies to access Japanese markets without extensive corporate restructuring. Through real-world examples, these sessions provided attendees with practical tools to navigate Japan’s listing process in ways tailored to their specific business needs.
<figure id="attachment_150675" aria-describedby="caption-attachment-150675" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-150675" src="https://console.kr-asia.com/wp-content/uploads/2024/11/TSE-IPO-Seminar-Singapore-QA-1024x683.jpg" alt="" width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2024/11/TSE-IPO-Seminar-Singapore-QA-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/11/TSE-IPO-Seminar-Singapore-QA-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2024/11/TSE-IPO-Seminar-Singapore-QA-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2024/11/TSE-IPO-Seminar-Singapore-QA-1536x1024.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2024/11/TSE-IPO-Seminar-Singapore-QA.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-150675" class="wp-caption-text">Panelists take questions from an engaged audience at Tokyo Stock Exchange’s seminar in Singapore. Photo courtesy of Tokyo Stock Exchange.</figcaption></figure>
TSE also underscored its dedication to long-term support by collaborating closely with major Japanese financial players. Mitsubishi UFJ Trust, for example, detailed its role as a transfer agent, stressing the importance of establishing lasting relationships to navigate Japan’s regulatory landscape. Known for valuing trust and relationship-building, Japanese business culture aligns with TSE’s vision of being more than just a one-time partner—positioning itself as an enduring ally for ASEAN companies post-IPO.
Collaboration between TSE and ASEAN startups may have broader implications for ASEAN-Japan relations. Southeast Asia’s vibrant startup ecosystems, like those in Singapore and Vietnam, offer growth opportunities for Japanese investors who are looking to diversify. The cross-border IPO environment, TSE hopes, will not only drive investments into Japan but also encourage the expansion of ASEAN’s tech sectors.
With interest in cross-border partnerships steadily growing, the seminar series opened discussions around Japan’s supportive business ecosystem, highlighting its long-term commitment to partners beyond just financial backing. Panelists delved into the ways Japan can support ASEAN startups in building sustainable and resilient businesses that prioritize trust.
Looking ahead, the enthusiasm seen at both events suggests TSE may deepen its ties with ASEAN’s startup ecosystem, hosting similar sessions across other regional markets. By making itself accessible to ASEAN startups, TSE not only broadens its listing scope but also promotes an exchange of ideas and investment that benefit both sides.

A new path to IPO: Tokyo Stock Exchange courts Southeast Asia’s startups

Vietnam

… second growth-stage fund.</li>
<li aria-level="1"><a href="https://www.ampd.energy/">Ampd Energy</a>, a developer of battery energy storage systems (ESS) for heavy industries, secured USD 27.3 million in an oversubscribed Series B funding round, co-led by Kibo Invest and Openspace, with existing investors including MTR Lab and Taronga Ventures.</li>
<li aria-level="1"><a href="https://www.ensonictech.com/">Ensonic</a>, a Chinese artificial intelligence startup specializing in acoustic detection technology for industrial and transportation applications, raised an undisclosed amount of investment from Hong Kong’s MTR Lab.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Kipin Edutech wins top prize at Temasek Foundation Education Challenge, Indonesia’s Cards raises seed funding, Jollibee acquires Tim Ho Wan, and more

Indonesia

Philippines

India

… ground against intensifying local competition.
<h3>North American and Chinese markets face reevaluation</h3>
Following the election, European and Japanese automakers find themselves bracing for impact.
Currently, 8% of vehicles sold in the US by Mercedes-Benz and BMW are manufactured in Europe, while Porsche relies entirely on European factories for US sales.
Last week, Morgan Stanley released a report suggesting that a Republican administration could increase tariff risks for EU exports, with German automakers likely bearing the brunt.
During his campaign, Trump <a href="https://www.dw.com/en/donald-trumps-trade-threats-alarm-german-car-giants-vw-bmw-mercedesv2/a-70530326">expressed his desire</a> to attract foreign manufacturers to set up shop in the US. "I want German car companies to become American car companies," he said, advocating for them to build factories in the US.
Morgan Stanley’s report suggests that setting up US-based factories to avoid tariffs would be challenging for European automakers. Even with a tax rate cut from 21% to 15%, establishing local production for luxury vehicles would neither be simple nor significantly enhance their price competitiveness in the US market.
Changes in US and EU tariffs, in tandem with Trump’s tepid stance on EVs, will make it increasingly difficult for European automakers to thrive in the US. Automakers like Mercedes-Benz, BMW, and Porsche may turn to China as they speed up their transition to EVs.
Japanese automakers face even greater challenges.
Amid China’s rapidly growing automotive market, Japanese carmakers have maintained strong sales and profits, largely due to the yen’s depreciation and Japan’s substantial US market share of 35.5%, second only to American brands at 43.5%.
Trump has openly criticized the yen’s devaluation, <a href="https://www.bloomberg.com/opinion/articles/2024-11-06/dollar-s-trump-surge-may-soon-be-undone-by-fedspeak-us-election">calling it a “disaster”</a> for US export competitiveness.
If Trump pressures Japan to strengthen the yen, Japanese automakers’ edge in the US could weaken, forcing them to reconsider strategies for both the Chinese and US markets to sustain Japan’s automotive industry.
These factors will likely drive Japanese and German automakers to allocate more resources to China.
Chinese brands, meanwhile, have made significant inroads, particularly in the budget  segment. Over the past year, BYD’s Seagull model has outsold Dongfeng Nissan’s Sylphy. In the SUV category, BYD’s Yuan Plus and Song Plus have also overtaken competitors.
In the premium segment, vehicles such as the Li L9 and Aito M9, priced above RMB 400,000 (USD 56,000), have shown steady sales growth.
For Japanese and German automakers to stay competitive and protect their transition strategies, investing further in China may be crucial. China’s automotive market, in this landscape, is bracing for an even fiercer showdown ahead.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3025616535545092">article</a> was written by Xu Caiyu for 36Kr.

With Trump back, automakers brace for tariffs and a reshaped US market

Electric Vehicles

Mobility

Europe

On November 7, iFeng Technology (Phoenix New Media) reported that NetEase Games has undertaken an internal investigation into alleged corruption, zeroing in on several senior executives within its marketing division. Among those questioned is the general manager of marketing at NetEase Games, along with several others who have been taken in for investigation.
“This is still in its early stages, and the results will take some time,” said a NetEase employee, who added that the marketing department is vast, encompassing various units like the distribution channel center and other marketing branches.
Rumors circulating in industry chat groups hint that the investigation could involve sums totaling in the hundreds of millions of RMB. The scope appears to extend to several high-ranking figures.
Amid the speculation, executives Wu Xinxin and Zhang Haixing have posted cryptic updates on social media, which some readers interpret as signaling their well-being.
36Kr reached out to NetEase for comment, but the company has not yet responded as of publication. The news outlet will continue tracking developments.
NetEase Games began a series of internal audits in 2023, according to 36Kr. Around this time, payment procedures within the marketing department reportedly became stricter.
According to a NetEase employee, the department’s marketing campaigns require payments to multiple suppliers, which raised concerns over potential bribes and abuse of power. This focus aligns with recent tightening of payment procedures within the department.
Earlier this year, several executives reportedly left the company amid investigations, a trend that may tie into the ongoing corruption probe, which is said to span other departments beyond marketing.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3026191720637705">article</a> was written by Liu Shiwu for 36Kr.

NetEase Games investigates top marketing execs in corruption probe

NetEase

… first- and second-tier cities, especially young urban women, form the core demographic.
"To achieve a sense of companionship, consumers have shifted from functional needs to emotional needs. It’s no longer just about features,” a source at Hisense said.
However, since their launch, companion machines have faced some skepticism on social media. Critics argue that they’re essentially oversized portable tablets with limited innovation, labeling them an <a href="https://thechinaproject.com/2023/04/21/stupid-tax-phrase-of-the-week/">“IQ tax”</a> product.
A Hisense representative addressed this perception, acknowledging it as a result of the category’s early development stage, where many devices appear similar. “While products from different manufacturers may look alike now, unique selling points will emerge as companies advance their technologies.”
<h3>An experiential device with expanding appeal</h3>
Companion machines are clearly an experiential product.
Unlike brands focusing solely on online sales, Hisense introduced the X7N in its offline experience stores immediately after launch. According to a Hisense representative, many users feel more inclined to buy after testing the device. “They realize it’s more than just a mix of a TV and tablet.”
With this insight, Hisense has expanded the number of offline stores offering demo units, targeting high-traffic areas in major cities. Nearly 1,000 units are now available across the country.
This offline strategy is bolstered by Hisense’s extensive after-sales network, which includes over 2,000 service centers in China. Orders are fulfilled directly from these centers, with installation services available. Should repairs be needed, technicians provide onsite support, reducing wait times and eliminating shipping.
While most units are still sold online, offline sales are gaining traction and are expected to become a critical growth channel.
<figure id="attachment_150625" aria-describedby="caption-attachment-150625" style="width: 640px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-150625" src="https://console.kr-asia.com/wp-content/uploads/2024/11/Hisense-X7N-1024x597.jpeg" alt="" width="640" height="373" srcset="https://console.kr-asia.com/wp-content/uploads/2024/11/Hisense-X7N-1024x597.jpeg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/11/Hisense-X7N-300x175.jpeg 300w, https://console.kr-asia.com/wp-content/uploads/2024/11/Hisense-X7N-768x448.jpeg 768w, https://console.kr-asia.com/wp-content/uploads/2024/11/Hisense-X7N-240x140.jpeg 240w, https://console.kr-asia.com/wp-content/uploads/2024/11/Hisense-X7N.jpeg 1280w" sizes="(max-width: 640px) 100vw, 640px" /><figcaption id="caption-attachment-150625" class="wp-caption-text">Image source: Hisense.</figcaption></figure>
As a new type of smart display, companion machines are gradually changing lifestyles. However, Zhang told 36Kr that current prices ranging from RMB 4,000–7,000 (USD 560–980) can deter first-time buyers.
Xiao noted that companion machines’ main advantages currently lie in hardware design and quality control. Hisense, for instance, is among the few brands that designs and manufactures its devices in-house, ensuring quality standards.
R&amp;D isn’t cheap. “Since production hasn’t yet scaled, we need dedicated molds and production lines for this new category. Some brands use shared molds to cut costs, but Hisense takes a higher-cost, more responsible approach,” a Hisense representative shared.
As more brands and models enter the market, it’s evident that companion machines are evolving from niche products to mainstream essentials.
Beyond technical specs, these devices center around creating meaningful experiences. Imagine returning home after a long day and moving the companion machine to the kitchen to catch up on a show while cooking. Later, it can guide a workout session, and before bed, angle down for a documentary. These interactions reflect a level of convenience and emotional connection that simple hardware upgrades can’t replicate.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3013511375529216">article</a> was written by Huang Nan for 36Kr.

Starting at RMB 4,000, “companion machines” open new revenue streams for TV giants

Entertainment

Japan’s push into tech and innovation is making waves with <a href="https://www.innovation-osaka.jp/hackosaka/en/index.html">Hack Osaka 2024</a>, where the spotlight will shine on pioneering startups and international partnerships.
Organized by Osaka Innovation Hub in collaboration with Japan's Urban Innovation Institute, the Japan External Trade Organization (JETRO), and Osaka Business Development Agency (OBDA), Hack Osaka is set for November 26 with the theme “Link Innovation to Our Future.” The event will draw a spectrum of voices—from rising startups like <a href="https://www.heralbony.jp/en">Heralbony</a>, the first Japanese company to win an LVMH Innovation Award, to Nvidia, which will discuss its support for Japan’s artificial intelligence ambitions.
Emerging innovators, including <a href="https://www.rutilea.com/en">Rutilea</a> CEO Takafumi Yano and <a href="https://datagrid.co.jp/">Datagrid</a> CEO Yuki Okada, will join the event, with 36Kr Global partner Robyn Tan also expected to contribute to the conversation.
Now in its 12th year, Hack Osaka reflects Kansai’s transformation into a hub for innovation. The event also aligns with the region’s broader vision: fostering partnerships that propel startups into global markets and cultivating homegrown unicorns.
Hack Osaka 2024 promises a dynamic showcase of innovation, with Kansai’s strengths in areas like clean energy and health tech setting the stage for over 70 startups tackling critical global challenges. This year’s lineup will feature top international names like logistics leader Lalamove, innovation intelligence platform <a href="https://kr-asia.com/the-hidden-power-of-patents-and-patsnaps-usd-100-million-milestone">PatSnap</a>, and graphene sensor developer <a href="https://grapheal.com/">Grapheal</a>, among others.
Attendees can look forward to a packed agenda, including the “Get In The Ring Osaka” pitch battle, a “speed dating” session connecting startups with investors, and insider perspectives on scaling globally from Australian unicorn <a href="https://synchron.com/">Synchron</a> and MedTech Actuator, a leading accelerator in health, medtech, and biotech.
The event also offers a unique look into the OIP Startup Acceleration Program, as early-stage startups from the program’s 17th cohort debut their latest developments. Meanwhile, “Start Line Osaka: Beyond Borders” will invite young, globally minded entrepreneurs to showcase real-world solutions and receive hands-on feedback.
As <a href="https://www.expo2025.or.jp/en/">Expo 2025</a> nears, Hack Osaka’s momentum reflects Kansai’s commitment to becoming a global innovation nexus. With backing from organizations like JETRO and alignment with Japan’s five-year, JPY 10 trillion (USD 65 billion) initiative, the event underscores Osaka’s aspirations as a premier destination for tech collaboration.
<h3>Event details</h3>
<ul>
<li aria-level="1">Date: Tuesday, November 26, 2024.</li>
<li aria-level="1">Time: 10:30 a.m. to 6:00 p.m, Osaka time (GMT+9).</li>
<li aria-level="1">Venue: <a href="https://www.congre-cc.jp/en/#directions">Knowledge Capital Congres Convention Center</a>, Osaka, Japan (hybrid format, attendees can participate in-person or online).</li>
<li aria-level="1">Registration: Free and open to the public.</li>
<li aria-level="1">Language: English and Japanese (English interpretation available).</li>
</ul>
Hack Osaka 2024 isn’t just an event—it’s a statement of Osaka’s ambition to drive change. For startups, investors, and tech pioneers, this is a chance to connect, innovate, and influence the future.
Join the conversation on November 26 and help shape what’s next alongside the global innovators set to gather at Hack Osaka.
<a href="https://lu.ma/oqwxcn1g">Register to attend Hack Osaka 2024, either in-person or online, by visiting this page.</a>
This article was published in partnership with Osaka Innovation Hub. 36Kr Global and KrASIA are media partners for Hack Osaka 2024.

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