South Korea’s Kakao Mobility secures $50.1M strategic investment from Google Inc

In a statement on Thursday, Kakao Corp, the parent of South Korea’s Kakao Mobility said, it has secured a strategic investment of $50.1 million (56.5 billion won) from Google. Kakao T, Kakao Mobility’s app, has registered user base of 28 million consumers, and offers South Korea’s most popular taxi-hailing service as well as other transportation…

German agrees 100% depreciation of digital assets as part of economic stimulus measure

According to a statement from German Finance Minister Olaf Scholz, Germany will provide an annual tax relief of around 2.3 billion euros as part of part of a new measure to support purchases of digital assets, including computer software hardware. German state government and the federal government agreed on Tuesday, that digital assets could be…

Japan plans on eliminating gas powered vehicles by mid-2030s, ramps up renewable energy investments

On Friday, in a significant development, the Japanese government said it aims to eliminate gasoline-powered vehicles in the country in the next 15 years so as to reach net zero carbon emissions and generate nearly $2 trillion a year in green growth by 2050. The “green growth strategy,” sees an increased adoption of hydrogen in…

Astanor Ventures raises $325 million for investing in agri-food tech startups

On Friday, Astanor Ventures, a backer French insect breeder Ynsect as well as Germany’s vertical farmer InFarm stated, it had raised a $325 million fund to invest in sustainable agriculture, food, and ocean technology startups. The new fund will back ventures that seek to make the food supply more resilient to climate change and attempt…

Ride hailing service provider Bolt to invest $118M in European e-scooter market in 2021

On Thursday, Estonia-based ride-hailing service provider Bolt stated, it has decided to invest $118 million in 2021 and has set a goal to become the biggest e-scooter rental company in Europe. The development comes at a time when cab services have been severely affected by the coronavirus-induced COVID19 pandemic. As part of this strategy Bolt…

Japan’s Kioxia Holdings Corp to build new NAND memory chip production line to meet surging demand across industry sectors

On Thursday, Japan’s Kioxia Holdings Corp stated, it would build a new production line for NAND memory chips in central Japan in order to meet surging demand for data storage across industry sectors ranging from smartphones to self-driving cars. The new line, the seventh for Kioxia, will be built at its existing plant in Yokkaichi,…