The web based business mammoth’s new Paipai commercial center for second-hand merchandise will contend with Alibaba’s market pioneer Xianyu and 58 Tongcheng’s Zhuanzhuan, which is supported by Tencent.
Flipkart sued for offering fake Skechers (India). US athletic footwear producer Skechers has documented suit in a Delhi court focusing on Flipkart and four sellers that professedly sold phony renditions of its items on the online business goliath’s commercial center. Skechers guarantees that strikes it did on seven stockrooms in Delhi and Ahmedabad found 15,000 sets of fake footwear.
WeChat to issue advanced ID cards for Chinese citizens (China). Guangzhou’s Nansha region is trialing a plan which enables Chinese subjects to authoritatively recognize themselves and access a scope of open administrations utilizing a computerized ID connected to their WeChat application, as opposed to their physical state-issued ID card. The program is relied upon to be extended across the country one month from now.
OBike to compensate riders with cryptocoins (Singapore). The bicycle sharing organization is joining forces with media and diversion startup Tron to dispatch its own particular digital currency, oCoins, in Q1 2018. Clients can create the coins by finishing rides, and utilize them to pay for future rides. They’ll likewise have the capacity to spend oCoins to see online substance from Tron’s stage.
5,898 new companies perceived under Startup India plan to date (India). The program was propelled by the Indian government in January 2016 to support the nation’s new companies through measures, for example, tax cuts, marked down patent and trademark filings, and venture. Seventy-five of the perceived new companies have gotten an aggregate of US$52 million in financing through the plan.
Investors, incubators, and accelerators
Telco builds up US$15 million VC fund (Sri Lanka). Dialog Axiata’s Advanced Development Store will look to put amongst US$327,000 and US$1.3 million in every startup, with 20 percent of the reserve reserved for seed-arrange ventures beneath US$262,000. The telco guarantees it’s the island country’s biggest VC store to date.