India’s Tech Moment, Xiaomi Surpasses Apple, Food in SEA | Trusted Bytes News



What a week for India! We witness the subcontinent's huge week in funding and acquisitions, food startups gain momentum in Southeast Asia, and Xiaomi beats Apple to be the world’s second largest mobile phone manufacturer.


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TRANSCRIPT


India’s Tech Moment, Xiaomi Surpasses Apple, and Food in SEA

This week, we witness India’s huge week in funding and acquisitions, food startups gain momentum in Southeast Asia, and Xiaomi beats Apple to be the world’s second largest mobile phone manufacturer.

Welcome to Trusted Bytes! Here we give you week’s highlights in business news and emerging trends, with a lens on Asia. I’m your host Adrian Koh. If you like your news distilled like this, subscribe to us on YouTube or on any of your favourite podcasting services.

Tons of stuff happening in India, so let’s do this quick-fire style so you get caught up on the week.

Edtech firm Byju acquired US-based edtech startup Epic for $500million as it sets the stage for its international expansion efforts.

Omni-channel eyewear retail startup Lenskart raised $220 million to scale in Southeast Asia and the Middle East, bringing its value to $2.5billion.

Marketplace roll-up player GlobalBees raises a record $150 million in its Series A round, the largest evet in India, as it sets to replicate the success of Thrasio in acquiring and aggregating brands across multiple categories to help them scale.

Other funding rounds include logistics startup BlackBuck, news aggregating service and social media firm Inshorts, Dehlivery (man I like that name), and storytelling platform Pratilipi. Acquisitions are also spiking, with Blackstone acquiring edtech firm Simplilearn, and YouTube acquiring social commerce startup Simsim.

What a week for India!

Agritech and efforts to digitalise the F&B value chain is gaining momentum in Southeast Asia, with more startups looking to solve various problems to feed Southeast Asia better. Indonesia’s Aruna raised $35million to help small fisheries across the country to deal with demand and supply issues, while at the same time leading the charge for more sustainable fishing. A similar startup, Vietnam’s Kamereo, raised $4.6 million to connect farmers to tables with its warehouse and last-mile delivery network. Singapore-based Easy Eat raised $5million to help F&B chains use AI and data analytics to digitalise and transform their business.

China’s phone and just about everything maker Xiaomi took second spot in Q2 2021 for mobile phone market share, bumping Apple off to third spot. The report from Canalys on the global smartphone market said Xiaomi posted an 83% year-on-year growth for the quarter as it saw success in international markets, like Latin America, Africa, and Western Europe. More cost-effective than its Samsung and Apple rivals, Xiaomi could be signalling an appetite for cheaper devices as the pandemic wears on.

And that's all the time we have for now. Check in with us again next week for more highlights from the news from Trusted Bytes. I’m Adrian Koh, and Trusted Bytes is a production of Trusted Services.

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