The Japanese startups with the most funding dollars

Plus: Softbank eyes TikTok’s India operations and Instagram integrates Reels into its app in India [Open this email in your browser]( Daily Newsletter --------------------------------------------------------------- Hello {NAME} 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:  1️⃣ Softbank eyes TikTok’s India operations 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.  2️⃣ Instagram integrates Reels into its app in India 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.  3️⃣ SoftBank leads $100m round in Biofourmis 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.  4️⃣ Zomato banks US$62m from Temasek 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.  5️⃣ Hong Kong to go cashless soon? 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.  6️⃣ Why it may be hard for Indonesia’s e-wallets to become super apps 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.  --------------------------------------------------------------- Below-the-radar Japanese startups that have the biggest piles of cash It’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. - A 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. - Shut 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.” - Take it and go: Logistics company CBcloud operates Pickgo, a delivery matching platform that matches freelance drivers with people who need package delivery services. Dive deeper: [Meet the 50 top-funded startups and tech companies in Japan](  --------------------------------------------------------------- This Indian edtech startup joins the unicorn club There’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](. - Established in 2015, Unacademy prepares students for stressful examinations and helps them learn through short educational videos and live interactive classes. - Current wins: The startup has over 30 million registered users and 350,000 paying subscribers, up from just 90,000 active subscribers back in February. - Other investors include existing backers Facebook, Sequoia Capital, Nexus Venture Partners, General Atlantic, and Blume Ventures. - A 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.  --------------------------------------------------------------- Startup feature from the community Dear T.A. Ding, thanks for your submission. Your company is our featured startup of the week! - Elevator pitch: [DoctorxDentist]( is a medical healthcare content platform that connects patients to reliable medical information from doctors. - Story: 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. But 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. - How many years in operation: Almost four years - Number of customers: 3 million patient-readers annually - Sales: $150,000 monthly recurring revenue - Opportunities: 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 patients - Challenge: Convincing doctors that healthcare information should be transparent and publicly accessible Want the spotlight on your startup too? Give your own company a [shout-out here](.  --------------------------------------------------------------- Misc Happening - [Creating A Successful Formula For eCommerce]( on September 9. How do you create a store that appeals to customers and grabs people’s attention? - [CMO Roundtable: How Asia’s Leading Brands Are Rebooting Growth]( on September 10. This is a private event for senior-level marketers to discuss what innovative methods they’re using to engage and retain customers. - [How Brands Can Win Customers in Today's Competitive Mobile App Market]( on September 16. The panel discussion is aimed at app creators and communities that want succeed in the competitive mobile app market. - [Blueprint for Success: Scaling Operations Across SEA]( on September 17. We break down all the information you need for a successful expansion strategy in Southeast Asia. - [Tech in Asia Virtual Conference]( from October 19 to 22. In our biggest annual event, we gather founders, decision-makers, and VCs in one place so that you can get all the information and make the connections you need.  Hiring - [Google AdSense Specialist, SMM]( at Kenzap (Kuala Lumpur, Malaysia) - [Head of Sales]( at Collab Asia (Jakarta, Indonesia) - [Front End Engineer]( at Ralali (Bandung, Java, Indonesia)  --------------------------------------------------------------- Before you go on your Happy Hour, share this email with your friends to make their TGIF conversations a little cooler. And if you have any comments about our newsletter, hit us up [here](. Tech in Asia’s newsletters are handcrafted daily with love ❤️ - and sometimes powered by good coffee (or tea). ☕ Today’s edition is written by Betty Chum, with contributions from Miguel Cordon. It’s edited by September Grace Mahino. To ensure that you don’t miss out on the biggest tech news and analysis, add newsletter@techinasia.com to your address book, contacts, or safe sender list. 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