Today’s top tech news, June 22: Thailand tops ASEAN IoT exploration, Matrix Partner China raises US$750M

Anisa Menur
Today’s top tech news, June 22: Thailand tops ASEAN IoT exploration, Matrix Partner China raises US$750M

Today’s top tech news also has Tesla shutting down facilities in nine states, Singapore launching new tech to prevent prison fights, and Tongcheng-eLong Holdings’ IPO plan

Thailand tops ASEAN IoT exploration: Report – Bangkok Post

Thailand came out on top of the list of ASEAN countries which enterprises explore and implement Internet of Things (IoT) solutions to boost productivity and innovation, Bangkok Post reported.

Based on survey by Asia IoT Business Platform, the report credited Thailand’s success to “awareness based on government policy and investment in both soft and hard infrastructure.”

It stated that 89 per cent of enterprises in Thailand have implemented IoT in 2017. The country was followed by Malaysia (86 per cent), Indonesia (83 per cent), the Philippines (80 per cent), and Vietnam (79 per cent).

In Thailand, IoT uses are mostly concentrated on government and public services (55.1 per cent) as well as industrial sector (35.7 per cent). The agriculture sector took up only 9.1 per cent of implementation.

Matrix Partners China raises US$750M for fifth fund – Dealstreet Asia

The Chinese arm of US venture capital firm Matrix Partners has raised US$750 million for its fifth fund, according to Dealstreet Asia.

Citing a filing with US Securities and Exchange Commission (SEC), the report said that the fund involves participation from about 53 limited partners.

The fund followed the firm’s US$500 million fourth fund for Chinese market in February 2016.

Founded in 2008, Matrix Partners China is led by Bo Shao, David Su and David Zhang. The firm invested in internet and mobile internet, financial services, healthcare, and SaaS sectors.

Also Read: Today’s top tech news, June 20: RedDoorz expands to the Philippines

Singapore launches new tech to detect prison fights – South China Morning post

Singapore Prison Service is testing a new surveillance system called Avatar in Changi Prison to provide early intervention for prison fights, South China Morning Post reported.

The system uses video analytics backed by an algorithm that detects “high intensity, erratic motions” in inmates. Alarm will then sound to enable prison officers to handle the situation.

The testing is part of the “prison without guards” initiative the country has announced in April 2017.

Tesla to close solar facilities in nine states – Reuters

Electric car maker Tesla is set to shut down what includes a dozen installation facilities in nine states in the US. The facilities are part of the company’s division that was once sales and installation company SolarCity, Reuters reported.

Citing company documents and anonymous former and current Tesla employees, the report also said that Tesla will end its partnership with Home Depot Inc. The partnership is said to have generated “about half” of the company’s sales.

The report further explained that about 60 installations will remain open. It said that an internal company email named 14 facilities slated for closure, but the other list included only 13 of those locations.

Tesla has declined to comment on the matter.

Also Read: Today’s top tech news, June 19: Sea raises US$575M, Monster Energy fails to stop Tencent’s trademark bid

Ctrip-backed Tongcheng-eLong to raise up to US$1.5B from stock sale – South China Morning Post

Suzhou-based online travel agency for budget travellers Tongcheng-eLong Holdings is planning to raise between US$1 billion and US$1.5 billion in a Hong Kong initial public offering, South China Morning Post reported.

Citing anonymous sources, the report said that the fundraising would trump the US$85 million stock offer in 2003 by Ctrip. It will eventually create another online tour giant.

The result of a merger between Tongcheng Network and E-dragon Holdings, the company claimed to have served “as many as” 300 million customers in 2016.

Image Credit: Tomasz Frankowski on Unsplash

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