JD.com’s logistics business raises US$2.5B from Hillhouse, Sequoia China and others [TechCrunch]

JD.com, the Chinese e-commerce giant that is Alibaba’s closest rival, is raising giving its logistics spin-out business a huge boost after it announced that the unit is raising US$2.5 billion.

JD Logistics, which became a standalone business last April, is raising the investment capital from a range of backers who include Hillhouse Capital, Sequoia China, China Merchants Group, Tencent, China Life, China Development Bank Capital FOF, China Structural Reform Fund and ICBC International, according to a press release announced today.

JD.com confirmed it will remain the majority shareholder with a stake of 81.4 per cent. The transaction, which is JD Logistics’ first outside funding event, gives the division a valuation of around US$13.5 billion.

Korea Investment co-invests in US$8M Series A round of Israeli cybersecurity startup Perception Point [DealStreetAsia]

Venture capital firm Korea Investment Partners (KIP) has backed the US$8-million Series A fundraising of Perception Point, an Israel-based cybersecurity startup focused on early interception.

In a statement, Perception Point said that the Series A fundraising was led by Pitango Venture Capital, Israel’s largest venture capital fund, with State of Mind Ventures (SOMV) and KIP as backers.

The company will use the funds to expand its global presence and product portfolio.

Founded in 2015 by Israeli cyber-intelligence experts, Perception Point provides a cloud-based, CPU-level technology platform that intercepts advanced attacks at the earliest possible stage of execution.

South Korea vows firm action against illegal, unfair cryptocurrency trading [Reuters]

South Korea said on Wednesday it will take firm action against illegal and unfair acts in cryptocurrency trading after a 280,000 signature petition was sent to the presidential Blue House.

“The government’s basic rule is to prevent any illegal acts or uncertainties regarding cryptocurrency trade, while eagerly nurturing blockchain technology,” Hong Nam-ki, minister of the office for government policy co-ordination said in a statement.

The petition was made after the justice minister said in January that the government may shut down cryptocurrency exchanges. It demanded that the government never impose unreasonable regulation on virtual currency trading.

Horangi appoints Chang Hon Kit as Director of Sales, Asia Pacific [press relase]

Horangi Cyber Security today announced the appointment of Chang Hon Kit as Director of Sales (Asia Pacific).

In this role, Hon Kit is responsible for building and leading the Asia Pacific sales team as well as supervising regional business development operations. He is also responsible for growing the sales channel through referral, alliance and Value at Risk partners to accelerate the company’s growth strategy.

He brings over two decades of experience from companies such as Check Point Software, FireEye, Trend Micro, and Fuji Xerox Asia Pacific.

“Hon Kit’s strong experience in the business of cyber security and his expansive connections across the region will help Horangi scale dramatically, accelerate our growth and create value for our customers as we move towards Series B fund-raising,” said Paul Hadjy, CEO and Co-Founder, Horangi Cyber Security.

Blockchain trade financing platform XinFin [press release]

Singapore-based blockchain startup XinFin Fintech — which enables financial institutions with tools to undertake peer-to-peer financial contracts between governments, corporation, buyers and suppliers — has launched its utility token XDCE. The firm has also announced the launch of its ICO.

Hosted on decentralised Ethereum Ecosystem, XDCE utility token will enable global enterprises work with XDC Protocol. The firm said this will boost liquidity of XDC tokens facilitating large number of business use cases.

The funds will be utilised for ecosystem development and masternodes proliferation of the XinFin network amongst institutions.

Speaking about the XDCE token sale, Alex Mathbeck, Marketing Head, XinFin, said: “XinFin tokens are on built on XDC01 protocol which is first of its kind hybrid protocol and listing a newer protocol on the exchanges is a time consuming process. This limits the liquidity further limiting number of business cases being scaled. Launch of XDCE tokens was a move in this direction so that people can trade at stable prices on regulated exchanges sidestepping volatile market where changes price drastically due to lower liquidity,” said, Alex Mathbeck, Marketing Head, XinFin.

Having raised over US$1.5 million during pre-placement in July-August 2017, XinFin utilised the funds to build its XDC Hybrid Blockchain protocol and TradeFinex.org platform.