Also, Visa B2B Connect in the Philippines, and Grab’s partnership with STA.

Google, Tencent, and Sequoia China join funding round for pharma startup XtalPi – [Channel News Asia]

Internet giant Google, investment conglomerate Tencent, and VC firm Sequioa China have joined a US$15 million B series funding round for AI pharmaceutical startup XtalPi.

XtalPi uses AI, cloud computing, and quantum physics to improve processes in drug design. Sequioa led the round, which bring the startup’s total funding amount up to US$20 million.

Visa and UnionBank to launch blockchain payment system – [ABSCBN News]

Global payments solution Visa and UnionBank of the Philippines announced plans to launch Visa B2B Connect, a blockchain-powered payment system for businesses. The platform will use 23 fiat currencies, making cross-border transactions faster and easier. Visa B2B Connect is set to be launched on the last quarter of the year.

UnionBank was the first bank to offer online banking in the country, the first to join the Enterprise Ethereum Alliance, as well as the Philippine representative bank to the ASEAN Financial Innovation Network. Recently, the bank has announced its partnership with SALPay for another blockchain-powered service.

Grab partners with Singapore Taxi Academy – [Press release]

Grab and Singapore Taxi Academy (STA) has announced the launch of ExpressOne, a programme designed to provide drivers with the support they need to obtain their Private Hire Car Driver’s Vocational License (PDVL).

Under the programme, additional training and testing facilities will be added via multiple Grab premises to support close to 400 drivers everyday, with free coaching sessions for drivers who need more help.

The partnership would also allow Grab to extend financial aid and incentives, covering the costs of PDVL application and mandatory medical check-up. English test for drivers who need to certify their language skills will be sponsored by Grab, as well as training costs for eligibility to SkillsFuture.

“The well-being of our drivers is incredibly important to us at Grab, and I’m particularly proud of the raft of benefits our new ExpressOne programme will provide – from financial support and additional tuition to taking care of all the logistics, so our drivers don’t have to. By becoming the STA’s official training and testing partner, we are underlining Grab’s position as Singapore’s number 1 ride-hailing company, committed to developing and strengthening Singapore’s transport system,” said Lim Kell Jay, Head of Grab Singapore.

“A safe and professional chauffeured car service can only be delivered by competent drivers. We believe that is the best way to help Grab drivers in securing a steady income and not just earn enough to pay car rentals,” said Tan How Ing, Centre Director of Singapore Taxi Academy.

Temasek joins $80m round of US-based AI energy storage firm Stem – [Dealstreet Asia]

Singapore’s state investor Temasek Holdings joined a group led by Activate Capital in a US$80 million D series round of energy storage service provider Stem.

Stem transforms the way energy is distributed by creating innovative technology services; its proprietary technology Athena is the first artificial intelligence for energy storage and virtual power plants. As of last year, the company had over 1,100 sites operational or in construction.

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