SEA
Existing investors of the Indonesian ride-hailing provider Go-Jek have put forth US$1 billion of new funding to accelerate Go-Jek’s overseas expansion. Existing investors include Tencent Holdings Ltd, and new investors may participate as well. (Deal Street Asia)
Huawei plans to invest US$81 million in ASEAN over the next three years. The company signed a MoU with Thailand’s National Innovation Agency (NIA) and National Science and Technology Development Agency (NSTDA) to stimulate innovation in Thailand. (Bangkok Post)
Singapore’s wellness startup Imagene Labs has raised a Series A+ round led by Formation 8. The startup seeks to provide customized personal care services based on genetics or DNA. (Deal Street Asia)
The access to 4G services has improved in Indonesia as per a recent study, stating four of five operators in the country had improved their 4G availability. (Jakarta Post)
China
Singapore-based Huobi, one of the biggest cryptocurrency exchanges, plans to invest US$100 million towards building Huobi Chain, then migrate its operations onto this blockchain once complete. It looks to become a decentralised autonomous organisation. (Deal Street Asia)
Used car auction platform Chezhibao closed a US$125 million Series D funding round led by Green Harbour investment. Chezhibao is backed by Pacific Alliance Group, Ador Equity Investment Fund Management, and Gobi Investment Management. (Deal Street Asia)
In this competitive ride-hailing industry, Didi Chuxing managed to increase its daily completed rides by 5 million to 30 million daily as of May 2018. (KrASIA)
Alibaba Cloud eyes to leverage on its big data and AI technologies-powered system ET Agricultural Brain to increase efficiency and revenue for farmers as well as to improve food safety for consumers. (Technode)
Tencent formed a strategic cooperation with Walmart China on digital and smart retail. The cooperation will help Walmart expand digitally in the country as well as expand Tencent’s services including mobile payments and mini programs. (Technode)
Chinese travelers will soon be able to use Wi-fi on high-speed trains, as automaker Geely and Tencent will create a Wi-fi platform to provide better services. The two companies have jointly acquired a 49 per cent stake in High Speed Network Technology Company. (SCMP)
Evernote is spinning out its Chinese unit and plans to take the unit public. The company introduced its Yinxiang Biji China-based service in 2012 and Yinxiang Biji has raised an undisclosed Series A round from the Sequoia CBC Cross-border Digital Industry Fund. (TechCrunch)
Chinese startup ONO claims it’s building the first blockchain-based decentralized social network in China, seeking to give data and content ownership back to the hands of users. (Technode)
Douyu, Tencent-backed game streaming platform, is planning a HK IPO to raise as much as US$700 million. (SCMP)
Didi Chuxing partners with state-owned automaker FAW Group to hire drivers in Changchun city. The two companies provide drivers with FAW cars for rent. (Technode)
Alibaba is recruiting 200 young scientists who specialize in machine intelligence, IoT, database, etc, offering a decent salary and research funding. (36Kr)
Huawei claims it has never collected or stored Facebook user data. Facebook previously acknowledged it shared such information with Huawei and other manufacturers. (SCMP)
Rest of Asia
Bangalore-based “Social selling” startup and Y Combinator alum Meesho closed a US$11.5 million Series B round funding led by Sequoia India with intentions to use the funds to add more features to its e-commerce platform. Meesho’s business model includes dropshipping which reduces overhead costs. (Techcrunch)
Ola, India’s largest cab-hailing service reported a 70% increase in revenue for year ended 31 March 2017. The reported increase in revenue was from Rs758.23 crore to Rs2,313 crore. (Deal Street Asia)
World
Facebook announced it would introduce U.S. news programs this year from CNN, Fox News and Univision as it seeks to improve the quality of news on the social network. (Reuters)
Good News Bad News
Honolulu city may cap surge pricing by Uber and Lyft, becoming the first US city to limit fares ride-hailing companies can charge when demand spikes. (Reuters)