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In this video, GGV Capital explained PDD’s product flow.

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Entrepreneurs who keep their day jobs have 33 percent lower odds of failure than those who quit.

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New year, new roundup. Check out the latest in media, data security, drone technology, and more.

One Media

Video content media startup One Media recently secured around US$3 million from B Dash Ventures and Gree Corp. One Media makes videos that can be viewed through various social media platforms like Line and Facebook. So far, it has created over 1,200 videos, ranging from music festivals to craft whiskey drinks. The startup also collaborates with companies like automakers Honda and Toyota.

One Media’s funding comes as  Japanese media startups seem on the rise, with Lute and Candee also securing financing  in recent months.

ACSL

ACSL, which got its start  while CEO Kenzo Nonami was teaching at the University of Chiba, is a drone manufacturing company. The startup promotes a wide range of applications for its autonomous drones like building inspection, delivery services, and agriculture production support. Drones can be customized based on customers specific needs.

The company recently raised a sizeable amount of cash of US$19 million from Mirai Creation Fund, iGlobe Partners, Mizuho Capital, University of Tokyo Edge Capital, and Drone Fund.

Another Japanese drone company, Clue, received funding in November to develop similar drone and software- like capabilities.

Michael

Cartune, a community app for car enthusiasts, has achieved over 100,000 downloads since it was launched in May 2017 by Michael. Users must input their car model and photos in order to complete registration. They  can also browse through Cartune’s Instagram-like user interface or filter their searches by applying a specific tag.

As local transportation and electric vehicles become more popular, the future of cars seems to be headed towards the direction of sustainability and and energy efficiency. As such, people may wonder whether classic cars still have a purpose . However, Cartune founder Makoto Fukyama believes that older cars will remain relevant as a hobby. He also thinks that the after-parts market and exhibition culture are strong, and car companies are keen revive some of their older models.

Other than Cartune, other new companies like Garage have entered on the scene, as well as older legacy players such as Minkara.

For its seed round, Michael received approximately US$1 million from IGPI.

Caulis

Fraud Alert by Caulis took the stage in early December at the elite pitch contest, Japan’s Infinity Ventures Summit. Fraud Alert is a cloud-based fraud detection service that monitors suspicious  behavior and alerts clients. The service is being introduced in 10 companies, of which most are financial institutions.

The company, which also shares its database of malicious users, just raised over US$1.4 million in its series A from four investors. Participants included previous backers Sony Innovation Fund and iSiD as well as two new additions, Seven Bank and Revamp.

This post 4 rising startups in Japan appeared first on Tech in Asia.

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New year, new roundup. Check out the latest in media, data security, drone technology, and more.

One Media

Video content media startup One Media recently secured around US$3 million from B Dash Ventures and Gree Corp. One Media makes videos that can be viewed through various social media platforms like Line and Facebook. So far, it has created over 1,200 videos, ranging from music festivals to craft whiskey drinks. The startup also collaborates with companies like automakers Honda and Toyota.

One Media’s funding comes as  Japanese media startups seem on the rise, with Lute and Candee also securing financing  in recent months.

ACSL

ACSL, which got its start  while CEO Kenzo Nonami was teaching at the University of Chiba, is a drone manufacturing company. The startup promotes a wide range of applications for its autonomous drones like building inspection, delivery services, and agriculture production support. Drones can be customized based on customers specific needs.

The company recently raised a sizeable amount of cash of US$19 million from Mirai Creation Fund, iGlobe Partners, Mizuho Capital, University of Tokyo Edge Capital, and Drone Fund.

Another Japanese drone company, Clue, received funding in November to develop similar drone and software- like capabilities.

Michael

Cartune, a community app for car enthusiasts, has achieved over 100,000 downloads since it was launched in May 2017 by Michael. Users must input their car model and photos in order to complete registration. They  can also browse through Cartune’s Instagram-like user interface or filter their searches by applying a specific tag.

As local transportation and electric vehicles become more popular, the future of cars seems to be headed towards the direction of sustainability and and energy efficiency. As such, people may wonder whether classic cars still have a purpose . However, Cartune founder Makoto Fukyama believes that older cars will remain relevant as a hobby. He also thinks that the after-parts market and exhibition culture are strong, and car companies are keen revive some of their older models.

Other than Cartune, other new companies like Garage have entered on the scene, as well as older legacy players such as Minkara.

For its seed round, Michael received approximately US$1 million from IGPI.

Caulis

Fraud Alert by Caulis took the stage in early December at the elite pitch contest, Japan’s Infinity Ventures Summit. Fraud Alert is a cloud-based fraud detection service that monitors suspicious  behavior and alerts clients. The service is being introduced in 10 companies, of which most are financial institutions.

The company, which also shares its database of malicious users, just raised over US$1.4 million in its series A from four investors. Participants included previous backers Sony Innovation Fund and iSiD as well as two new additions, Seven Bank and Revamp.

This post 4 rising startups in Japan appeared first on Tech in Asia.

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Photo credit: HQ Trivia

Combining quiz show entertainment and cash prizes, HQ Trivia was the surprise app sensation of 2017. And now a Chinese tech giant is jumping on the bandwagon.

Toutiao, a US$20 billion news app with 120 million readers each day, this week updated its mobile app to incorporate Millionaire Heroes, a live and interactive online trivia show which runs several times per day.

I joined the 1 pm quiz within Toutiao, where US$7,800 was up for grabs. Despite being working hours, the viewer count as the livestream started was at 2.5 million. Five minutes in as the first question hit the screen, just over 3 million people were tuned in.

Photo credit: Tech in Asia

Millionaire Heroes (right) looks very similar to HQ Trivia (left). On this first question, 998,000 Chinese viewers got the right answer – though I was one of the near 20,000 people to choose wrongly.

Photo credit: Tech in Asia, using one screenshot from HQ Trivia

If a news app seems an odd place for a game show, there is an explanation. A representative from the company behind Toutiao, Bytedance, told Tech in Asia this afternoon the Millionaire Heroes quiz started earlier in the year inside its spin-off Xigua Video app, and now the startup has put the exact same game show inside the news app. The spokesperson said nobody was available to take further questions about its trivia quiz.

Bytedance has a growing entertainment empire with Musical.ly, Xigua Video, Flipagram, Topbuzz, and Tik Tok.

The quiz is limited to friend referrals via an invitation code. Dishing out more referrals seems to get you more hearts, allowing you to answer more questions.

Bytedance’s reported US$20 billion valuation after raising US$1.1 billion in funding in the past few years is mainly due to the rocketing growth of Toutiao, but its other apps and acquisitions shows the Beijing-based firm wants to be a global force in web-based leisure and entertainment.

See: China has a problem with Toutiao

Converted from Chinese yuan. Rate: US$1 = RMB 6.42.

This post In China, millions are tuning into an online game show in the hope of winning money appeared first on Tech in Asia.

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Photo credit: HQ Trivia

Combining quiz show entertainment and cash prizes, HQ Trivia was the surprise app sensation of 2017. And now a Chinese tech giant is jumping on the bandwagon.

Toutiao, a US$20 billion news app with 120 million readers each day, this week updated its mobile app to incorporate Millionaire Heroes, a live and interactive online trivia show which runs several times per day.

I joined the 1 pm quiz within Toutiao, where US$7,800 was up for grabs. Despite being working hours, the viewer count as the livestream started was at 2.5 million. Five minutes in as the first question hit the screen, just over 3 million people were tuned in.

Photo credit: Tech in Asia

Millionaire Heroes (right) looks very similar to HQ Trivia (left). On this first question, 998,000 Chinese viewers got the right answer – though I was one of the near 20,000 people to choose wrongly.

Photo credit: Tech in Asia, using one screenshot from HQ Trivia

If a news app seems an odd place for a game show, there is an explanation. A representative from the company behind Toutiao, Bytedance, told Tech in Asia this afternoon the Millionaire Heroes quiz started earlier in the year inside its spin-off Xigua Video app, and now the startup has put the exact same game show inside the news app. The spokesperson said nobody was available to take further questions about its trivia quiz.

Bytedance has a growing entertainment empire with Musical.ly, Xigua Video, Flipagram, Topbuzz, and Tik Tok.

The quiz is limited to friend referrals via an invitation code. Dishing out more referrals seems to get you more hearts, allowing you to answer more questions.

Bytedance’s reported US$20 billion valuation after raising US$1.1 billion in funding in the past few years is mainly due to the rocketing growth of Toutiao, but its other apps and acquisitions shows the Beijing-based firm wants to be a global force in web-based leisure and entertainment.

See: China has a problem with Toutiao

Converted from Chinese yuan. Rate: US$1 = RMB 6.42.

This post In China, millions are tuning into an online game show in the hope of winning money appeared first on Tech in Asia.

from Startups – Tech in Asia http://ift.tt/2DH5TLV

//

Photo credit: HQ Trivia

Combining quiz show entertainment and cash prizes, HQ Trivia was the surprise app sensation of 2017. And now a Chinese tech giant is jumping on the bandwagon.

Toutiao, a US$20 billion news app with 120 million readers each day, this week updated its mobile app to incorporate Millionaire Heroes, a live and interactive online trivia show which runs several times per day.

I joined the 1 pm quiz within Toutiao, where US$7,800 was up for grabs. Despite being working hours, the viewer count as the livestream started was at 2.5 million. Five minutes in as the first question hit the screen, just over 3 million people were tuned in.

Its quiz (right) looks very similar to HQ Trivia’s (left). On this first question, 998,000 Chinese viewers got the right answer – though I was one of the near 20,000 people to choose wrongly.

Photo credit: Tech in Asia, using one screenshot from HQ Trivia

This is the Millionaire Heroes host, introducing the show’s first question:

Photo credit: Tech in Asia

If a news app seems an odd place for a game show, there is an explanation. A representative from the company behind Toutiao, Bytedance, told Tech in Asia this afternoon the Millionaire Heroes quiz started earlier in the year inside its spin-off Xigua Video app, and now the startup has put the exact same game show inside the news app. The spokesperson said nobody was available to take further questions about its trivia quiz.

Bytedance has a growing entertainment empire with Musical.ly, Xigua Video, Flipagram, Topbuzz, and Tik Tok.

The quiz is limited to friend referrals via an invitation code. Dishing out more referrals seems to get you more hearts, allowing you to answer more questions.

Bytedance’s reported US$20 billion valuation after raising US$1.1 billion in funding in the past few years is mainly due to the rocketing growth of Toutiao, but its other apps and acquisitions shows the Beijing-based firm wants to be a global force in web-based leisure and entertainment.

See: China has a problem with Toutiao

Converted from Chinese yuan. Rate: US$1 = RMB 6.42.

This post In China, millions are tuning into an online game show in the hope of winning money appeared first on Tech in Asia.

from Startups – Tech in Asia http://ift.tt/2DH5TLV

//

Photo credit: HQ Trivia

Combining quiz show entertainment and cash prizes, HQ Trivia was the surprise app sensation of 2017. And now a Chinese tech giant is jumping on the bandwagon.

Toutiao, a US$20 billion news app with 120 million readers each day, this week updated its mobile app to incorporate Millionaire Heroes, a live and interactive online trivia show which runs several times per day.

I joined the 1 pm quiz within Toutiao, where US$7,800 was up for grabs. Despite being working hours, the viewer count as the livestream started was at 2.5 million. Five minutes in as the first question hit the screen, just over 3 million people were tuned in.

Its quiz (right) looks very similar to HQ Trivia’s (left). On this first question, 998,000 Chinese viewers got the right answer – though I was one of the near 20,000 people to choose wrongly.

Photo credit: Tech in Asia, using one screenshot from HQ Trivia

This is the Millionaire Heroes host, introducing the show’s first question:

Photo credit: Tech in Asia

If a news app seems an odd place for a game show, there is an explanation. A representative from the company behind Toutiao, Bytedance, told Tech in Asia this afternoon the Millionaire Heroes quiz started earlier in the year inside its spin-off Xigua Video app, and now the startup has put the exact same game show inside the news app. The spokesperson said nobody was available to take further questions about its trivia quiz.

Bytedance has a growing entertainment empire with Musical.ly, Xigua Video, Flipagram, Topbuzz, and Tik Tok.

The quiz is limited to friend referrals via an invitation code. Dishing out more referrals seems to get you more hearts, allowing you to answer more questions.

Bytedance’s reported US$20 billion valuation after raising US$1.1 billion in funding in the past few years is mainly due to the rocketing growth of Toutiao, but its other apps and acquisitions shows the Beijing-based firm wants to be a global force in web-based leisure and entertainment.

See: China has a problem with Toutiao

Converted from Chinese yuan. Rate: US$1 = RMB 6.42.

This post In China, millions are tuning into an online game show in the hope of winning money appeared first on Tech in Asia.

from Startups – Tech in Asia http://ift.tt/2DH5TLV

//

Photo credit: HQ Trivia

Combining quiz show entertainment and cash prizes, HQ Trivia was the surprise app sensation of 2017. And now a Chinese tech giant is jumping on the bandwagon.

Toutiao, a US$20 billion news app with 120 million readers each day, this week updated its mobile app to incorporate Millionaire Heroes, a live and interactive online trivia show which runs several times per day.

I joined the 1 pm quiz within Toutiao, where US$7,800 was up for grabs. Despite being working hours, the viewer count as the livestream started was at 2.5 million. Five minutes in as the first question hit the screen, just over 3 million people were tuned in.

Its quiz (right) looks very similar to HQ Trivia’s (left). On this first question, 998,000 Chinese viewers got the right answer – though I was one of the near 20,000 people to choose wrongly.

Photo credit: Tech in Asia, using one screenshot from HQ Trivia

This is the Millionaire Heroes host, introducing the show’s first question:

Photo credit: Tech in Asia

If a news app seems an odd place for a game show, there is an explanation. A representative from the company behind Toutiao, Bytedance, told Tech in Asia this afternoon the Millionaire Heroes quiz started earlier in the year inside its spin-off Xigua Video app, and now the startup has put the exact same game show inside the news app. The spokesperson said nobody was available to take further questions about its trivia quiz.

Bytedance has a growing entertainment empire with Musical.ly, Xigua Video, Flipagram, Topbuzz, and Tik Tok.

The quiz is limited to friend referrals via an invitation code. Dishing out more referrals seems to get you more hearts, allowing you to answer more questions.

Bytedance’s reported US$20 billion valuation after raising US$1.1 billion in funding in the past few years is mainly due to the rocketing growth of Toutiao, but its other apps and acquisitions shows the Beijing-based firm wants to be a global force in web-based leisure and entertainment.

See: China has a problem with Toutiao

Converted from Chinese yuan. Rate: US$1 = RMB 6.42.

This post In China, millions are tuning into an online game show in the hope of winning money appeared first on Tech in Asia.

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Money Forward team at the company’s October 2017 Tokyo IPO / Photo credit: Money Forward

Sleekr, an Indonesian HR and accounting management platform, has secured funding from Tokyo-based fintech firm Money Forward in its first investment outside of Japan.

The partnership is representative of growing interest in the region from a newer generation of Japanese tech businesses, as they seek new opportunities for growth beyond home shores.

Sleekr started out providing personnel management software as a service, diversifying into cloud accounting services after acquiring fellow Indonesian startup Kiper in November 2016. It now has around 80 employees.

Sleekr’s only disclosed fundraise to date was a US$35,000 seed round in December 2014.

The amount raised from Money Forward has not been disclosed, though the Japanese company’s chief financial officer Naoya Kanesaka told Tech in Asia that it is significant given the size of the parties and the extent of their partnership.

“Including Sleekr, we have invested between US$2 million and US$3 million into five companies so far. Sleekr is of a comparably larger size,” he said.

Beyond the investment, Money Forward will share knowhow with Sleekr. Money Forward’s co-founder and CEO Yosuke Tsuji has been appointed to the startup’s board of directors.

Money Forward – which went public in a US$25 million Tokyo IPO last October – walks the line between fintech and enterprise software, offering a range of financial management products aimed at businesses and individuals.

These include cloud-based accounts, payroll, invoice, and expenses processing features, and Money Forward is the number one software choice among Japanese accounting firms with 60 percent market share, according to Kanesaka.

Close to 90 percent of small and medium enterprises in Japan use Money Forward’s services, he added.

Photo credit: Money Forward

There is clear overlap with Sleekr’s offering, which Money Forward sees as synergistic and a route to tap the potentially highly lucrative Southeast Asian market.

“In Japan, we already have an accounting and payroll product, so we don’t expect to bring [Sleekr’s] to Japan,” said Kanesaka. “But in Japan there are a lot of things we can learn about product strategy and marketing strategy.”

Partnering with a local player can also help Money Forward to better understand the market. “There is a basic difference about culture [in Southeast Asia], it’s different in terms of environment, but also there is a fundamental similarity [to Japan] in terms of how to be successful.”

Southward bound

The deal with Sleekr is part of the company’s “Money Forward Fund” program. It isn’t a separate, VC-style investment vehicle as the name may suggest, but rather a strategic initiative aimed at enhancing the company’s offerings through M&A activity.

Under Money Forward Fund, the company pledges to offer financial support, knowhow sharing, network support with partners, investors, and service providers, and tech support in areas such as APIs in return for equity.

Prior to making its first overseas investment with Sleekr, the Money Forward Fund backed Japanese robo-advisor Money Design in December 2015, crowdfunding platforms Campfire and LIFULL Social Funding in October last year, and ecommerce platform developer BASE earlier this month.

Kanesaka said that he expects Money Forward to make further strategic investments in Indonesia and the wider Southeast Asian region, and could invest more than US$10 million given the right prospect.

They saw potential where hardly anyone else was looking.

Japanese tech investors have been attracted to Southeast Asia partly because of proximity – in both geographic and cultural terms – and Japan’s soft power in the region, says 500 Startups Japan head James Riney.

“Japanese VCs and corporates were one of the first groups to aggressively invest in Southeast Asian startups. The region is also experiencing strong GDP growth overall, and the mobile revolution is turning more people into accessible customers,” he adds.

However, another important factor is that Southeast Asia has been largely eschewed by US and European investors until recently.

“The primary reason [for Japanese investor interest] is lack of competition compared to Silicon Valley,” says Riney. “They saw potential where hardly anyone else was looking, and local sources of capital were not as open-minded or sophisticated at the time to compete.”  

While Southeast Asia accounts for a seemingly small portion of overall Japanese VC investment – at around 2.9 percent in Q3 2017, according to research from Japan’s Venture Enterprise Center – it is notable how this is not too far from matching the figure for North America.

But this state of affairs is undergoing rapid change, with the entry of increasingly well capitalized Chinese players on the scene.

“The region has matured quite a bit. There are much more local sources of capital, and my impression is that China is more aggressive than Japan these days,” Riney suggests. “Many in Japan still see potential in Southeast Asia, but it is less appealing than it used to be because it is becoming more competitive.”

This post Sleekr’s latest funding signifies Japanese appetite for Southeast Asian startups appeared first on Tech in Asia.

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