Funding for tech startups has been on an inevitable upswing for years, a result of a virtuous circle where wildly successful tech companies on the public markets whet the appetites of investors and in
Nadiem Makarim, founder and CEO of Gojek, said on Monday he has stepped down from his role at the ride-hailing startup to join Indonesia president Joko Widodo’s cabinet. The announcement, which has
On-demand video streaming giant Netflix, which is increasingly expanding its footprint in developing markets, now has a new competitor in Indonesia: Gojek. The Indonesian ride-hailing giant on Thursda
The government of Rwanda will soon issue national policy guidelines to eliminate gas motorcycles in its taxi sector in favor of e-motos. The country’s president, Paul Kagame, previewed the plan
In May, venture capitalist Michael Moritz of Sequoia Capital warned in a Financial Times column that Amazon’s recent $575 million investment in the London-based delivery service Deliveroo could
Global ride-hail startup InDriver launches its app-based service in Kampala (Uganda) this week. After going live in Nairobi in June, the online taxi company now operates in four African countries: Ken
Southeast Asia’s highest-capitalized startup is sitting on even more money from investors today after ride-hailing Grab announced it has raised $300 million from Invesco. The deal takes Singapor
Warburg Pincus, the private equity fund with over $60 billion under management, is doubling down on Asia after it announced a $4.25 billion fund dedicated to China and Southeast Asia. The firm has bee
Nigerian motorcycle transit startup MAX.ng has raised a $7 million funding round led by Novastar Ventures, with participation from Japanese manufacturer Yamaha. Based in Lagos, the company’s app
Go-Jek may be based in Southeast Asia, but the multi-billion-dollar ride-hailing firm continues to tap India for engineering talent. The Indonesia-headquartered firm announced today that it has acquir
East Ventures has long been known as one of Indonesia’s longest-serving and most active seed-stage investors, but now it has officially moved up the food chain after it announced a final close o
In many large cities across Africa, motorcycle taxis are as common as yellow cabs in New York. That includes Lagos, Nigeria, where ride-hail startup Gokada has raised a $5.3 million Series A round to
At just 26, Waiz Rahim is supposed to be involved in the family business, having returned home in 2016 with an engineering degree from the University of Southern California. Instead, the young entrepr
It’s harvest season for Southeast Asia’s full-stack food delivery startups. Following on from Singapore’s Grain raising $10 million, so Malaysia-based Dahmakan today announced a $5 m
Singapore-based startup YouTrip thinks consumers of Southeast Asia deserve a taste of the challenger bank revolution happening in the U.S. and Europe, and it has raised $25.5 million in new funding to
A day after India’s largest wallet app Paytm entered the credit card business, local ride-hailing giant Ola is following suit. Ola has inked a deal with state-run SBI and Visa to issue as many as 10
Asia Pacific grocery delivery startup Honestbee has confirmed it is suspending business in half of the eight markets it operates in and laying off 10 percent of its 1,000 staff. The cost-cutting appea
Honestbee, the online grocery delivery service in Asia, is nearly out of money and trying to offload its business. The company has held early conversations with a number of suitors in Asia, including
Grab is once again on the hunt for a CTO after Theo Vassilakis, the former Microsoft and Google executive who currently occupies the role, announced that he will leave the ride-hailing company this su
Ambitious ride-hailing startup Go-Jek’s Southeast Asia expansion plan suffered a blow when it lost the leadership team behind its business in Vietnam, but now it has replaced them with the forme
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