ZStore raises US$8million Series B for R&D and hiring — [Tech News]
ZStore, a Hong Kong-based e-commerce company, announced today it has raised a US$8 million Series B round led by Welight Capital with participation from Kwai Hung Group. To date, the company has raised US$20 million.
The money will be used to hire more tech talent, fund R&D and streamline its logistics services.
ZStore wants to build a local-first commerce company and it has over 1,000 Made-in-Hong Kong products on its platform.
Go-Jek launches fuel delivery service — [Tech In Asia]
The on-demand services of Go-Jek continue after the launch of Go-Pertamina, a service that will deliver fuel to consumers from nearby Pertamina stations. According to Tech In Asia, the service will be available between the 8am to 8pm hours in North and South Jakarta.
The article also theorises that a core customer base for Go-Pertamina would be Go-Jek drivers themselves.
China mobile payment app raises from Sequoia — [China Money Network]
Ksher, a Chinese company that facilitates cross-border travel-related transactions, has raised a US$10 million Series A from Sequoia Capital, according to China Money Network.
The company targets overseas travel companies like hotels, advertising and air travel by providing them a one-stop platform to charge customers via VISA, MasterCard or WeChat Pay.
A big client of Ksher is King Power (Thailand) and the startup allows people to buy King Power goods via WeChat.
Hong Kong considering regulations on cryptocurrencies — [South China Morning Post]
Carlson Tong Ka-shing, the retiring Chairman of the the Hong Kong Securities and Futures Commission, told the South China Morning Post the agency is looking at ways to regulate crypto exchanges operating in the city.
Tong clarified that he was speaking of exchanges that traded securities. Defining how — or whether — a crypto should be defined as a security is an important discussion point in the industry.
The Chairman said there is no intention of flat-banning exchanges, but the regulatory commission has issued many warnings warning investors about the risks of trading crypto.
CROWDE nabs seed funding — [Tech News]
Indonesian agritech startup CROWDE today announced that it has raised an undisclosed seed funding round from Tokyo-based venture capital firm GREE Ventures.
Crevisse Ventures also participated in the funding round.
In a press statement, CROWDE CEO Yohanes Sugihtononugroho explained that the funding will be used to increase the number of farmers that the company aims to help by giving them capital boost.