Israeli blockchain startup Orbs receives investments from South Korea’s Kakao Investment

Orb will use the proceeds for R&D, and growth purposes. On Thursday, Israeli blockchain startup Orbs disclosed, it has received an investment from Kakao Investment – the venture capital arm of South Korean internet conglomerate Kakao Corp. Orbs did not disclose the size of the investment. Earlier this year, Kakao had stated it would establish…

SoftBank to replace Huawei’s 4G network equipment with Nokia and Ericsson equivalent

SoftBank will also source its 5G network equipment from Nokia and Ericsson rather than from Huawei: Nikkei In a significant development, Japan’s Nikkei has reported without citing sources, SoftBank Group Corp plans on replacing 4G network equipment from China’s Huawei Technologies Co Ltd with equivalent hardware from Nokia and Ericsson. Further, for its 5G network,…

U.S.-Israeli mobility technology company Optibus raises $40 million in private funding round

The funding round saw the Alibaba Group making an undisclosed strategic investment in the startup. Optibus, a U.S.-Israeli mobility technology company stated, it has secured $40 million in a private funding round that was led by Insight Venture Partners and which saw a strategic investment from the Alibaba Group. Its existing investors, including Sir Ronald…

Samsung to suspend operations at its Tianjin plant in China

In recent years, faced with rising costs and a slump in sales, Samsung has shifted the bulk of its mobile production plants in facilities in India and Vietnam. A spokeswoman from Samsung Electronics has stated, the company will suspend operations at one of its mobile phone manufacturing plants in China. The development comes midst rising…

SoftBank and Alibaba lead in Tokopedia latest funding round

Tokopedia has garnered $1.1 billion from its latest funding round wherein it was valued at $7 billion. Tokopedia, an Indonesian e-commerce company, stated it has secured $1.1 billion from its latest funding round which was led by Japan’s SoftBank Group Corp and China’s Alibaba Group Holding Ltd. This investment follows a similar trend from last…

Chinese cyber activity on the rise in the U.S.: NSA official

Yesterday, senior officials from the Department of Homeland Security and the Justice Department at a Senate Judiciary Committee hearing on “China’s Non-Traditional Espionage Against the United States: The Threat and Potential Policy Responses.” As per a senior U.S. intelligence official, in recent months, cyber activities by China in the United States has increased significantly. These…