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Startup News Roundup - 5 in 5 minutes: Aug 26th

Hong Kong startup news roundup

DBS-NUS Social Venture Challenge Asia finale

More than 1000 social enterprises have participated in the DBS-NUS Social Venture Challenge Asia. 12 teams have made it to the semifinal to compete for the Grand Prize and Jury Prize in Singapore.

The DBS-NUS Social Venture Challenge Asia is a regional competition for social enterprises, the Challenge aims to identify and support social ventures with the potential to make scalable and sustainable social impact.

The winners will be revealed during the Adwards Ceremony. The event will also be lived streamed on Facebook.

Want to meet the finalists and Unilever's CEO Paul Polma in person?
Click here to register!

Uber acquires a Israeli 8-month old startup for $680M

Otto is an Israeli-American company founded earlier this year. The company has been focusing on self-driving technology that could be fitted into trucks.

According to Tech in Asia, the price for the acquisition amounts to about one per cent of the value of Uber at US$680 million.

Self-driving taxis hits Singapore

Autonomous taxis will be running in the One-North business district, which is also the Singapore's startup hub.

The limited trail is meant to help nuTonomy gather data from riders. Selected Singaporean will be invited to book a taxi for free through the company's ride-hailing app. nuTomomy currently is the only provate company allowed to develop and test the technology in the city.

An Indian startup just raised $75M, 2016's largest fintech round

India's InCred has raised US$75 million, making it the biggest fintech round in India this year.

InCred has no official launches at the moment. According to Tech in Asia, the startup will conduct mall and medium business loans, education loans and mortgage loans.

Singapore's B2B fintech startup Bambu raises $400K seed round from Tigerspike 

Bambu has raised US$400,000 from Tigerspike and other Singapore-based angel investors.

Bambu is a wealth management platform, the money raised will be used on recruitment, product development and regional expansion.



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