Last Week in Tech: Rocky Apple-China relationship and India’s electric car dreams
Is a US ban on iPhones possible? What did “China’s greatest angel investor” just bet on in Southeast Asia? Why are tech companies investing in a pig farm?
Welcome to Last Week in Tech, where we look back at what happened in the tech and startup ecosystem in the last seven days. We’ve also collated a list of regional events to look forward to in the week ahead for your convenience.
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A snapshot of last weeks’ news in sentences.
Apple’s in trouble
- Qualcomm appeals to US trade agency to ban iPhone imports into the US, pressures them into legal fight (Ian King and Susan Decker / Bloomberg)
- Apple’s latest earnings report spells trouble for its Chinese market, who seem to be losing interest in its smartphone offerings. (Steven Millward / Tech in Asia)
Big dreams, big promises
- Anticipating H-1B reforms, Indian tech giant Infosys pledges to hire 10,000 American workers. (Catherine Shu / Techcrunch)
- Indian government thinktank drafts blueprint aimed at electrifying all vehicles in the country by 2032. (Aditi Shah / Reuters)
- Singapore’s National Research Foundation will invest up to US$107 million over five years in AI.SG, a government-backed initiative to advance AI research, development, and practical use locally. (Michael Tegos / Tech in Asia)
“I’m not interested in feasible business plans but amazing ideas and out-of-the-box thinking that’ll impact the world. If you show me your business plan, I’d say: throw it away!” – Taizo Son on being the lookout for SEAsian investments.
- Man dubbed as China’s greatest angel investor makes first bet in Southeast Asia — fintech startup Silot. (Nadine Freischlad / Tech in Asia)
- 500 Startups just made their first investment in Cambodia — a media company who bootstrapped their way to success. (Nadine Freischlad / Tech in Asia)
The prize for weird funding news goes to…
- Weiyang, a techie pig farm in China that just raised US$23 million from a prominent VC and big brands to produce premium pork. Oink oink, bitches. (Steven Millward / Tech in Asia)
Keep your eyes on this
- Chinese insurance giant Ping An is launching a US$1 billion global fund to invest in financial and healthcare tech. (Jennifer Hughes / Financial Times)
- This video shows a future underground transit network that one of Elon Musk’s many companies aims to create. (The Boring Company / YouTube)
- Sydney-based robo-advisor and fund management firm Stockpot raised a US$2.2 million series B round. (Michael Tegos / Tech in Asia)
- Leading Indian car marketplace CarTrade acquires startup Adroit Inspection, whose resources and credentials will help fix used car paranoia. (Malavika Velayanikal / Tech in Asia)
- Indian ride-hailing app Ola extends their runway with a US$365 million round, continues to battle Uber for homeground. (Sumit Chakraberty / Tech in Asia)
- Singapore’s largest renewable energy provider Sunseap raises US$4.8 million as part of its US$75 million series C round. This would place them in top 10 valuations in Southeast Asia. (Judith Balea / Tech in Asia)
- Chinese live streaming company Live.me raised a US$60 million series A to brings virtual gifting from a crowded chinese market to western audiences (Eva Xiao / Tech in Asia)
- An NUS Enterprise study says startups should be ‘gazelles’: having an increasing revenue at a rate of 20 percent annually for more than four years, starting from US$1 million. (Michael Tegos / Tech in Asia)
- India’s Silicon Valley may be flourishing as a tech hub, but it is dying of thirst. (Samanth Subramanth / WIRED)
This post Last Week in Tech: Rocky Apple-China relationship and India’s electric car dreams appeared first on Tech in Asia.