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SoftBank leads US$535M funding in DoorDash; China to invest in chip companies

S&P Global Market Intelligence provides a roundup of recent investment deals and updates in the Asia-Pacific technology, media and communications sector.

TOP NEWS

* A SoftBank Group Corp.-led group of investors committed US$535 million in series D funding for San Francisco-based food delivery service DoorDash Inc.

* China plans to raise up to 200 billion yuan to invest in Chinese chip companies, as part of a plan to achieve a leading position in the global semiconductor industry, Bloomberg News reported March 1, citing "people familiar with the matter."

* Indonesian ride-hailing company PT Go-Jek Indonesia received US$1.5 billion — 25% higher than targeted — from investors that included Alphabet Inc. unit Google Inc. and Tencent, Reuters reported Feb. 26, citing unnamed sources.

STARTUP FUNDING

* Tokyo-based YouTuber management agency VAZ Inc. said March 2 that it raised ¥1.15 billion during its series C funding round by private equity placement. The latest round had 21 companies as investors including Yomiuri-Tv Enterprise Ltd., Japanese talent agency Horipro Inc. and media company DWANGO Co. Ltd.

* Tencent Holdings Ltd. led an investment of US$818 million in Che Hao Duo, a Beijing-based business-to-consumer car dealer, Sina reported March 1. The Chinese tech giant also led an investment of US$115 million in Indian music streaming service Gaana, The Economic Times of India reported Feb. 28.

* SK Telecom Co. Ltd. said Feb. 26 that it is investing 70 billion South Korean won in ID Quantique SA, a Swiss cryptography services provider.

* NTT Docomo Ventures Inc., the venture capital arm of NTT Docomo, on Feb. 20 announced an unspecified investment in Otonomo Technologies, an Israeli startup that provides a marketplace for connected car data.

CAPITAL INVESTMENTS

* Naver Corp. on March 2 disclosed plans to invest another 50 billion South Korean won into its affiliate Snow, a selfie app.

* PT Indosat Tbk's head of corporate communication Deva Rachman said Indosat is allocating 7 trillion Indonesian rupiah for CapEx in 2018, Liputan6 reported March 2.

* Axiata Group Bhd. is allocating 200 million Malaysian ringgit for potential acquisitions in the fintech, internet of things and advertising technology sectors in 2018, the New Straits Times reported Feb. 23.

* Tech Mahindra Ltd said Feb. 22 that it will invest C$100 million in Canada over the next five years to build a new center of excellence in the country.

* Reliance Industries Ltd. and Eros International Media Ltd. said Feb. 20 that they will equally invest up to US$150 million to produce and buy Indian films and digital originals across all languages, as part of an agreement where Reliance buys a 5% stake in Eros International PLC.

* Toshiba Corp. will invest about ¥5 billion in its Philippine production facilities under a plan to launch high-capacity conventional hard-disk drives in the first half, The Nikkei reported Feb. 16.

* Indonesian telco infrastructure company PT Tower Bersama Infrastructure Tbk will invest 1 trillion Indonesian rupiah to build 1,000 telecom towers in 2018, Kontan reported Feb. 14.

OTHER FUNDING

* Reliance Jio will invest 100 billion rupees in the Indian state of Uttar Pradesh over the next three years, The Economic Times reported Feb. 21, citing Reliance Industries Chairman Mukesh Ambani.