Grab participated in the latest $15 million financing round of Drive.ai, an autonomous-car tech startup from SV, and will assist it in bringing autonomous vehicles in Singapore.

1. Grab invests in Silicon Valley’s Drive.ai with plans to expand into Singapore 

 

Drive.ai has raised the total of $77 million since it was founded, it recently announced the plan to supply self-driving vehicles for Lyft’s ride-hailing network.

Drive.ai isn’t the first autonomous tech developer to take an interest in Singapore. Grab already has a pilot program there with nuTonomy.

Read the full story here

2. Lazada is betting on logistics to win Southeast Asia

Delivery and partnerships will go on to become Lazada’s competitive advantage to ace the logistics side of the growing ecommerce demand in Southeast Asia.

The marketplace has partnered with numerous companies like Ninjavan and Go-Jek for delivery. It currently has 130 distribution centers and 14 warehouses across the region, with plans to open 6 more.

Lazada claims to be the only one to have an open-network approach combining infrastructure and partners.

Last November, Lazada bought Singapore online grocer Redmart, with the hope that it will help to crack cold storage and expand groceries into the rest of the region.

Read the full story here

3. Following China, South Korea announced the ban on ICO 

South Korea becomes the second nation in Asia after China to prohibit Initial Coin Offerings (ICOs) in the country due to the potential for financial scams.

Regulations imposed in China have led to Korea representing an increasing portion of global cryptocurrency trading. The value of bitcoin went down 3% within 24 hours after Korea’s announcement.

Regulators across the world, including the US, Singapore, Hong Kong and the UK, have warned companies contemplating an ICO that they may violate securities laws; and the investors to lose money.

Read the full story here

comments

Original content by ecommerceIQ

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thailand signs MoU with Austria to help build smart cities

The Digital Economy Promotion Agency (Depa) has signed a memorandum of understanding (MoU) with Austrian Technology Corporation (ATC), the trade group for Austrian tech companies, to ramp up technology exchange and drive smart city development.

Vietnam, China and Thailand are Cambodia’s top three export destinations

Cambodia’s total export to the Regional Comprehensive Economic Partnership (RCEP) member countries amounted to $1.95 billion in the first quarter of 2022, up 11 percent from $1.75 billion  over the same period last year, a Ministry of Commerce’s data showed on Thursday.

How will emerging markets benefit from new carbon trading rules?

Proponents say that carbon trading will ultimately increase investment in environmentally friendly solutions, as the price placed on carbon makes fossil-fuel projects less competitive, while at the same time incentivising low-carbon energy sources such as wind and solar.