Temasek invests in a US-based startup, Thailand to install cashless payments service in wet markets, and more exciting stories from the region
Indonesia to re-open access to messenger app Telegram
Indonesia’s ministry of communications and informatics announced that it will re-open access to messenger app Telegram.
The two parties are currently involved in an ongoing discussion about the standard operating procedure (SOP) for when the ban is lifted; Minister of Communications and Informatics Rudiantara told Kompas Tekno that it will happen once the discussion is finalised.
Though there was no mention of a clear timeline, the ministry and Telegram have agreed on several points including the implementation of self-censorship and the setting up of an on-ground team in Indonesia, in order to ensure easier coordination between two parties in monitoring terrorism-related content in the platform.
Indonesia has banned access to Telegram’s website since mid-July when the ministry’s requested the company to block channels used for terrorism propaganda.
Thailand to introduce e-money zones in Northeastern provinces
As part of its effort to build a cashless society through the use of debit cards, Thailand’s ministry of finance will set up e-money zones in selected Northeastern provinces in the country, Bangkok Post reported.
Permanent Secretary Somchai Sujjapongse said that he had asked governors of some Northeastern provinces to choose wet markets and walking streets where e-payments devices will be installed.
Contractors will set up electronic data capture (EDC) terminals for free-of-charge.
Nationally, Sujjapongse said that 150,000 EDC terminals have been installed, up from 110,000 terminals last month. About 90,000 of the terminals are installed in shops, and the ministry is aiming to have 550,000 installed by March 2017.
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Xiaomi gets US$1 billion loan to fuel international expansion, offline presence
Chinese smartphone maker Xiaomi announced that it has secured a US$1 billion loan to further strengthen its international and offline sales presence, according to a TechCrunch report.
The company has secured a three-year syndicated loan agreement from 18 banks across Europe, Middle East, India, China, Hong Kong and Taiwan.
Also serving as joint global coordinators are Deutsche Bank and Morgan Stanley, with Bank of China (Hong Kong) Limited, Deutsche Bank AG, and Wing Lung Bank.
Prior to this loan, Xiaomi has raised a loan in 2014, before it raised a US$1 billion venture capital round at a valuation of US$45 billion.
Temasek, Emerson Collective lead US$40M Series B for US-based VR/AR startup Within
Singapore state investor Temasek and social impact fund Emerson Collective (which was founded Steve Jobs’ widow Laurene Powell Jobs) have led a US$40 million Series B round for US-based virtual and augmented reality (VR/AR) startup Within, according to a Dealstreet report.
WPP and Macro Ventures also participated in the current round, with existing investors Andreessen Horowitz, 21st Century Fox, and Raine Ventures.
The company is going to use the new funding to develop AR experiences.
Formerly known as VRSE, it rebranded to Within when it completed US$12.6 million investment from Andreessen Horowitz and 21st Century Fox. The company has raised US$56.6 million in equity funding in aggregation.
Apart from having mobile apps for Apple and Android devices, Within also partners with IMAX to deliver VR worlds to its arcades.
Indian on-demand services platform Jhakaas raises pre-Series A round from US-based investor Amen Dhyllon
Indian on-demand services platform Jhakaas announced that it has raised an undisclosed pre-Series A round from US-based investor Amen Dhyllon.
The company plans to use the new funding to enhance their technology and upgrade their app, as well as to expand in the Indian market.
Jhakaas is a mobile app that allows users to do services such as grocery shopping, restaurant hunting, and food delivery.
It is currently available in Mumbai, New Delhi, Bangalore, Chennai, Indore, Hyderabad, Ahmadabad and Pune. It claimed to have worked with one million merchants and wants to add 500,000 more by end of March 2018.
In early 2017, the company had raised INR1 crore (around US$154,000) in seed funding round from investors that include Stelcore Management Services Private Limited; Malini Patel, country manager at Bloomberg Data Services; CP Sanadhya, director at India Shelter Finance; Anjani Prasad, managing director at colour and Archroma India.
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