[7.05] Morning Round-Up: Tencent’s Investment in Go-Jek is Around $100M

Here’s what you should know.

1. Tencent’s investment in Go-Jek is ‘around $100m to $150m’

Tencent has invested around $100 million to US$150 million in Indonesian ride-hailing startup Go-Jek. Neither Tencent nor Go-Jek have confirmed the sources’ claims.

Tencent, with a current market capitalization of $341 billion, has previously bought a stake in Singapore-based gaming startup Sea Ltd, formerly known as Garena, which was valued at $3.75 billion after a March 2016 funding round.

Go-Jek, which started as a hailing app for motorbike taxis, also operates a food delivery business that a source said yields a much higher margin than ride-hailing. Its mobile payment business, Go-Pay, is growing rapidly as it is complementary with all the other Go-Jek offerings.

The Chinese giant’s investment in Southeast Asia’s biggest ride hailing startup shows its growth ambitions in the region.

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2. Indonesian edutech startup Ruangguru raises Series B round led by UOB Venture Management

Indonesian edutech startup Ruangguru today announced that it has raised an undisclosed Series B round led by UOB Venture Management.

The South Jakarta-based startup plans to use the new funding to “strengthen its team in the areas of educational content, technology, marketing and operations, and deepen its product adoption in Indonesia.”

The platform include features such as question banks, classroom management and exam simulations, and the startup claimed that it has helped the government conduct data-driven policy-making through its dashboard and insights.

The startup also offers other services such as video subscription service and tutoring marketplace. It also partners with LINE to launch LINE Academy, which allows students to take simulated online national examinations on the chat platform.

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3. Singapore’s online gaming studio, Mighty Bear lands pre-seed funding round from Rocket Internet

Singapore gaming studio Mighty Bear has raised a US$775,000 pre-seed funding round led by Global Founders Capital, the venture capital arm of Rocket Internet.

The studio says it’s out to build the next generation of massively multiplayer online mobile games. The first title, Project Loot, is still under development and due to be released in the fourth quarter of 2017.

Global Founders Capital is associated with German venture builder Rocket Internet. All three Samwer brothers – the founders of Rocket Internet – are partners in GFC.

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