Online tutoring platform Vedantu raises $11m led by Omidyar Network

Vedantu, an online tutoring platform, has raised $11 million in a Series B funding round led by Omidyar Network, the company’s co-founder, Vamsi Krishna, said in an interview. The funds will be used for technology expansion and deeper penetration in tier 2 and 3 cities. Accel Partners, an existing investor, also participated in the round. Vedantu, which means ‘knowledge network,’ is
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Grab, NUS trial e-scooter sharing service, GrabWheels

A three-month trial has begun for Grab's e-scooter sharing service GrabWheels at the National University of Singapore's (NUS) Kent Ridge campus. E-scooters have been deployed across eight parking stations on campus in the pilot, which sees the new GrabWheels service being tested for the first time in Singapore, Grab said in a joint news release with NUS on Friday (Nov 23). The number
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A Lord and Taylor sign is pictured during Black Friday shopping in New York City, New York, U.S., November 23, 2018. REUTERS/Carlo Allegri

Black Friday: Online shopping trumps malls for US shoppers

The Thanksgiving Day and Black Friday kickoff of the U.S. holiday shopping season showed the increasing preference for online purchases, as more Americans opted to stay home and use their smartphones while sales and traffic at brick-and-mortar stores declined. The ongoing shift to online shopping has forced retailers across the country to invest heavily in boosting their e-commerce businesses, and also
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Mizuho commits $20M for tech fund in China

Mizuho Securities, a subsidiary of Japan’s second-largest lender Mizuho Financial Group, will establish a technology investment fund in China in partnership with two local venture capital firms, according to a report by the Nikkei. Mizuho Securities is said to have made an initial $20-million commitment to the fund, which will be managed by Cybernaut Investment Group and New Frontier Capital Management (Hong
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Chinese text analysis startup Elen raises $22M series A from Matrix Partners China

Matrix Partners China, an affiliate of US-based Matrix Partners, has led a $22-million Series A round into Elens, China’s developer of AI-powered text analysis, according to an announcement by Matrix Partners China. Established in 2016, Elens deploys voice image recognition and natural language processing to improve efficiency of enterprises. Elens is led by experts in the field of big data management, data
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Former Bangladesh Bank governor proposes fund for innovation, research

Former governor of Bangladesh Bank Dr. Atiur Rahman has proposed creation of a national innovation and research fund to encourage more young people to become entrepreneurs He made the proposal while addressing a seminar organised for youths by World Linkup at the Senate Building of Rajshahai University on Saturday, says a statement. Describing the youths as the main resources for building
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New age WeWork Labs will not take equity in exchange for mentorship

With the goal of helping early-stage entrepreneurs move into the next stage of their startup journey, WeWork officially launched its ‘Labs’ programme in Singapore today, marking its first foray into Southeast Asia. The programme — which cannot be compared to an accelerator or incubator — is a for-pay programme that does not take any equity and works like a bespoke
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Electric train service comes to Narayanganj

The government has taken up a project to introduce electric train service in Narayanganj under a public-private partnership with Singapore.The cabinet committee on economic affairs with Finance Minister AMA Muhith in the chair yesterday approved the local government division's proposal to reduce the district's traffic congestion. Nasima Begum, additional secretary to the cabinet division, told reporters afterwards that 388 cities around
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MidEast travel startup Holidayme snags $16m Series C via merger with KL-based Tripfez

Middle East-based online travel agency Holidayme on Wednesday announced that it is merging with Malaysia-based travel startup Tripfez to form one of the world’s largest Muslim-focused online travel agencies. The newly merged entity has also raised $16 million in a Series C funding round led by China and Kuala Lumpur-based venture capital firm Gobi Partners. Other investors in the round include
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Malaysian travel platform LokaLocal raises fund from S Korea’s BonAngels

South Korean venture capital firm BonAngels Venture Partners has led an undisclosed investment in Malaysia-based travel startup LokaLocal. With this investment, LokaLocal becomes BonAngels’ first Malaysian portfolio company. The venture capital firm has previously invested in around 140 companies in Korea, Japan, the US and Southeast Asia. LokaLocal said it will use the proceeds to accelerate its growth through its integrated
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SBI venture arm to roll out funds targeting SMEs and affordable housing

SBI Capital Ventures Ltd (SVL), an alternative asset management arm of State Bank of India group, will float two funds – Small and Medium Enterprises (Rs 4 billion) and Affordable Housing Fund (Rs 3.5 billion). This is part of plans to expand the portfolio of funds under SBI Caps Ventures, a subsidiary of SBI Capital Markets Ltd. Both funds are targeting closure of fund in the
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China’s Golden Education raises Series C from Morgan Stanley, Hillhouse Capital

Hillhouse Capital and Morgan Stanley have reportedly led a RMB800-million ($115 million) Series C funding round in Chinese professional training firm Golden Education. Yonghua Capital and Vision Knight Capital were also said to have participated in the investment. The news first appeared on Chinese newswire 36Kr. Requests for confirmation sent to Hillhouse Capital and Morgan Stanley have not elicited any response by
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Leathertech Bangladesh 2018 launches on Thursday

The sixth edition of a three-day Leathertech Bangladesh 2018 will begin at International Convention City Bashundhara from November 22, aiming to bring global technology at the doorsteps of the local industry to catalyse growth and modernisation. ASK Trade & Exhibitions Pvt Ltd is organising the trade show. Concurrently, the second edition of the Bangladesh Leatherfootwear & Leathergoods International Sourcing Show 2018,
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