close
tech

Daily News | Amazon to invest $ 1 billion in Indian SMEs; OYO cuts costs, shrinks hotel room size

7a5f4d52-379f-11ea-af60-aaaa00151f43.jpg

This article from the “36 Krypton sea (micro letter ID: wow36krchuhai)”, Author: Jonathan DAW, 36 krypton release authorized.Amazon India will invest $ 1 billion to help Indian SMEs digitize.According to Techcrunch, Amazon founder Jeff Bezos said that it will help small and medium businesses from cities, towns, and villages complete their digital transformation by injecting capital so that they can reach more users.It is reported that, as a key market for Amazon, the company has previously invested approximately $ 5.5 billion in India.In addition, it is reported that the company also intends to sell about $ 10 billion worth of Indian products on the Amazon platform by 2025.OYO is rapidly reducing the number of hotel rooms on its platform to cut costs.According to the Inc42 report, the New York Times stated that OYO’s move was due to the demand from major investor SoftBank Japan to gradually stop EBITDA unprofitable contracts or businesses by March 31 this year.OYO has reportedly cut 65,000 rooms from its roster since October 2019.In January 2020, the company also stopped selling rooms in more than 200 small cities in India.Y Combinator selected 26 Indian startups in the Winter 2020 (W20) batch.According to ET, in the previous batch, YC has selected about 14 Indian startups, which is also a record number.YC has 2,000 companies and more than 20 unicorn companies, including Airbnb, Stripe, Dropbox, and DoorDash.In September last year, YC’s new president, Geoff Ralston, said he wanted to fund more Indian unicorn companies and that India would be a key market outside the United States.India will implement preferential measures to attract Apple and Samsung suppliers.A government official said India is considering a plan to provide subsidized loans to mobile phone makers to attract Apple and Samsung Electronics suppliers to build factories in the country.The official said that the Ministry of Electronics and Information Technology’s proposal includes interest subsidies for manufacturers’ local borrowings, which could be part of a federal budget to be announced on February 1.At the same time, the proposal also includes the establishment of industrial zones with tax and customs clearance functions.In addition, the official said that India plans to produce $ 190 billion worth of mobile phones by 2025, which is currently $ 24 billion.(Sina Finance) Southeast Asia Singapore launched a new fund management system.According to DealStreetAsia, the Monetary Authority of Singapore and corporate regulator ACRA said in a joint statement that the new fund management system will allow fund managers greater flexibility in stock issuance and dividend payments and allow them toMultiple funds are set up in Variable Capital Companies (VCC) to reduce costs.The VCC set up on Wednesday includes venture capital, private equity and hedge funds.In addition, the Monetary Authority of Singapore has announced a grant scheme to encourage more such funds to settle in Singapore.Singapore investment firm Venturi Partners plans to raise $ 150 million for its newly created consumer fund.According to DealStreetAsia, the new funds under Venturi Partners will focus on India and Southeast Asia markets.It is reported that the fund raising of Venturi Partners is also to increase the scale of investment in Indian and Southeast Asian markets.According to reports, the company plans to invest in consumer areas such as fast-moving consumer goods, education and healthcare services, with an investment scale of 20-50 million U.S. dollars.Thai e-commerce platform aCommerce has completed $ 15 million in financing.According to DealStreetAsia, the investor in this round of financing is Singapore-based asset management company Indies Capital Partners.It is reported that aCommerce raised US $ 15 million in a Series C financing led by Emerald Media, an investment platform focused on media and entertainment, in July 2019.After the new financing, the total amount of aCommerce financing was approximately $ 118 million.Ford will invest $ 82 million to expand its Vietnam plant.Ford Motor announced that it will invest $ 82 million to expand the company’s northern Vietnam plant to increase its capacity.The expansion will increase the plant’s footprint by 15 acres, bringing its total area to approximately 56 acres.Ford Vietnam, which was founded in 1995, said that after the expansion is completed, the plant will increase Ford’s production capacity in Vietnam from the current 14,000 vehicles per year to 40,000 vehicles per year.(Gas Motor) Malaysian technology startup StoreHub completes $ 8.9 million in Series A + financing.According to Tech in Asia, this round of financing was led by its existing investor Vertex Ventures.It is reported that after this round of financing, the total amount of funds raised by the company has reached 15 million US dollars.It is reported that the newly raised funds will be used for business expansion.Latin American Chilean sports streaming startup Fanatiz raised $ 10 million in Series A funding.According to Contxto, 777 Partners from Miami have invested.With this funding, Fanatiz will expand its video-on-demand and sports live streaming services.Other Korean asset management companies invested $ 5 million in Singapore’s capital market platform iSTOX.According to KrAsia, through its investment in iSTOX, Hanwha Asset Management has formed a partnership with Kiatnakin Phatra Financial Group in Thailand and Tokai Tokyo Financial Holdings in Japan.iSTOX is owned by Singapore-based capital market infrastructure and technology company ICHX, and is the first regulated capital market platform in a large financial center to support one-stop issuance, custody and trading of digital securities.Text | Du Jun @ 36 氪 出海 编 | Zhao Xiaochun @ 36 氪 出海 图 | Pixabay.

Tags : EntrepreneurshipInternet entrepreneurshipInternet entrepreneurship project