The Japanese startups with the most funding dollars

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Hello readers,

If anyone can afford to go “bankai” (Japanese colloquial term for “evolving to one’s most powerful form”), it would be these startups and tech companies in Japan that have raised the most money. Side note: Anyone here a fan of the Bleach anime series?

You can check out the full article here, or scroll down for a quick summary.

But first, your quick bytes for today:

n1️⃣ Softbank eyes TikTok’s India operationsn

While most people’s attention is fixed on the US when it comes to TikTok, India has actually already banned the short-video app since June. And over the past month, the Japanese conglomerate Softbank is said to be assembling a group of bidders for TikTok’s India assets.

n2️⃣ Instagram integrates Reels into its app in Indian

The short-video app that aims to rival TikTok was launched by Facebook two months ago as a standalone app, but recently, Reels was added into Facebook’s photo-sharing app Instagram as a tab for its Indian users.

n3️⃣ SoftBank leads $100m round in Biofourmisn

The Singapore healthtech firm has recently completed a series C funding round led by SoftBank Vision Fund 2. This is said to be the largest healthtech fundraising within Southeast Asia to date.

n4️⃣ Zomato banks US$62m from Temasekn

The new capital comes at a time when India’s food delivery scene has seen its total sales recover to around 75% to 80% of its pre-Covid-19 numbers. The India-based restaurant discovery and food delivery app is reported to be valued at around US$3 billion.

n5️⃣ Hong Kong to go cashless soon?n

The Covid-19 pandemic could be accelerating the country’s transformation into a cashless society. Payment company Visa has already seen its ecommerce transactions rise by 10 percentage points year on year in the city, while life insurer BOC Life recorded a 60% annual jump in the online sales of its insurance products.

n6️⃣ Why it may be hard for Indonesia’s e-wallets to become super appsn

E-wallets are booming in the archipelago, with transaction values rising by over 200% in 2019 and almost 50 different digital wallet players vying for customers. But they’re not dominant in the two scenes that have propelled super apps such as Alibaba and WeChat into what they are today: ecommerce and messaging.

While Gojek and Ovo are already ahead of all the other e-wallet players in the country, the latter is rumored to be merging with Dana in a bid to solidify its top position.

nBelow-the-radar Japanese startups that have the biggest piles of cashn

nIt’s pretty darn tough to win the hearts and trust of Japanese consumers. But these startups and tech companies have managed to do so – and capture the hearts of investors in the process.

nnnA bank you can bank on: Fintech mobile app Paypay helps users make payments through PayPay balance, Yahoo Money, and credit card. Launched by SoftBank and Yahoo Japan in 2018, the payment app is said to have reached 25 million registered users earlier this year. nnShut up and drive: Deep-tech startup Tier IV spearheaded the development of Autoware, an open-source software for autonomous driving. It is said to be used by automotive manufacturers and “many self-driving startups.”nnTake it and go: Logistics company CBcloud operates Pickgo, a delivery matching platform that matches freelance drivers with people who need package delivery services.nn

Dive deeper: Meet the 50 top-funded startups and tech companies in Japan

nThis Indian edtech startup joins the unicorn clubn

nThere’s a new unicorn in India, and it’s Unacademy. The edtech startup is reportedly valued at US$1.4 billion after a Softbank-led funding round of US$150 million.

nnnEstablished in 2015, Unacademy prepares students for stressful examinations and helps them learn through short educational videos and live interactive classes.nnCurrent wins: The startup has over 30 million registered users and 350,000 paying subscribers, up from just 90,000 active subscribers back in February. nnOther investors include existing backers Facebook, Sequoia Capital, Nexus Venture Partners, General Atlantic, and Blume Ventures.nnA major competitor is Byju’s, one of the biggest edtech startups worldwide, valued at US$10.5 billion. The company attracted 6 million new users in March and another 7.5 million in April due to the pandemic. nnStartup feature from the communityn

Dear T.A. Ding, thanks for your submission. Your company is our featured startup of the week!

nnnElevator pitch: DoctorxDentist is a medical healthcare content platform that connects patients to reliable medical information from doctors.nnStory: We’ve all seen our fair share of this kind of advice online: “Take this natural remedy 3x a day to cure insert illness here.” Unfortunately, this kind of misinformation, which is rampant on the internet, causes more harm than good.
nBut with the lack of free access to healthcare, most people resort to taking advice from questionable sources. DoctorxDentist envisions a world where everyone – regardless of language or location – is empowered to make better-informed health decisions. nnHow many years in operation: Three yearsnnNumber of customers: 3 million patient-readers annuallynnSales: $150,000 monthly recurring revenuennOpportunities: The ability to grow user-generated content through verified patient reviews and using this as a means to forge pre-consultation relationships between doctors and patientsnnChallenge: Convincing doctors that healthcare information should be transparent and publicly accessiblenn

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