Today’s edition of Captain’s Log also includes funding stories from Aavishkaar, Oway Group, and Tusimple

Facebook to set up business entity in Indonesia

 

Indonesia’s ministry of communications and informatics announced that social media giant Facebook has agreed to set up a permanent business entity in Indonesia, according to several media reports.

The announcement follows a meeting between ministry officials and Facebook representatives Alvin Tan (head of public policy for Southeast Asia) and Jeff Wu (trust and safety director for Asia Pacific).

Apart from setting up a permanent business entity, Facebook has also agreed to establish specific business entity (KBLI) as required by existing regulation on the type of business ran by the company, as well as to monitor and block prohibited content of radicalism, terrorism, and pornography.

In the past year, the ministry has been pushing for global tech companies in Indonesia to set up a permanent business entity –instead of setting up a mere representative office– as part of its effort to push for taxation and censorship.

Thailand gives “final warning” to ISPs to censor “illicit” content

 

The Thailand government through the National Broadcasting and Telecommunications Commission (NBTC) has announced August 7 as the final deadline for internet service providers (ISPs) in the country to remove the last batch of “illicit content” on Facebook and YouTube, or they will risk losing their operating licenses, Bangkok Post reported.

The ultimatum was given after the government had failed in reining in the two companies directly to remove contents that violate the country’s lese majeste law.

“We suggest that Facebook and Youtube help ISPs remove the pages … These ISPs are registered in Thailand and must comply with Thai law and court orders,” said NBTC Secretary-General Takom Tantasith.

Also Read: Captain’s Log, Aug 03: ofo launches bike-sharing service in Malaysia, Pinkoi enters Thailand

Oway Group to close funding round in “next three months”

 

Myanmar-based travel booking and ride-hailing startup Oway Group is currently in discussions with potential investors to close an “eight digit” funding round within the next three months, according to a Dealstreet Asia report.

The funding round follows its US$10 million investment from investors such as Northstar Group, Emerging Markets Investment Advisers Pte Ltd. (EMIA), and World Bank’s International Finance Corporation (IFC) in 2016.

In the country, Oway Group is competing with Uber, Grab, and HelloCabs, which had recently raised a seven-digit investment.

Aavishkaar set to mark first close of US$310 million India-focussed fund

 

Impact investor Aavishkaar is set to mark the first close of its US$310 million India-focussed fund at US$150 million this quarter, Dealstreet Asia reported.

The Mumbai-based investor’s sixth vehicle Aavishkaar Bharat Fund invests in businesses that “engage the underserved population in sectors such as agriculture, financial services, healthcare, waste and sanitation, renewable energy and logistics and supply chain.”

The fund is a SEBI registered Category II Alternative Investment Fund, and Aavishkaar is also planning to raise another US$150 million for a new Africa-focussed fund.

Tusimple raises Series B funding with participation of Nvidia

 

Beijing-based autonomous truck developer Tusimple raises undisclosed Series B funding round that includes strategic investment from US-based graphics chip giant Nvidia, according to a South China Morning Post report.

The investment is the first from Nvidia to an autonomous vehicle company, though it has foster alliance with Audi, Toyota, and Volvo, and a partnership with Baidu, to bring artificial intelligence to cloud computing, self-driving vehicles and AI home assistants.

Tusimple co-founder and COO Jianan Hao said that the funding will be used for research, development, and recruitment.

The company is planning to test its self-driving trucks in Chinese expressway next month.

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Image Credit: gilc / 123RF Stock Photo

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