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On-demand logistics startup Lalamove raises $300M for Asia growth and becomes a unicorn – TechCrunch

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Lalamove, a Hong Kong-based on-demand logistics startup, has closed a $300 million Series D round as it seeks expansion across Asia. In doing so, the company has officially entered the unicorn club.

Founded in 2013 by Stanford graduate Shing Chow, Lalamove provides logistics and delivery services in a similar style to ride-hailing apps like Uber but it is primarily focused on business and corporate customers. That gives it more favorable economics and a more loyal customer base than its consumer-focused peers, who face discount wars to woo fickle consumers.

This new round is split into two, Lalamove said, with Hillhouse Capital leading the ‘D1’ tranche and Sequoia China heading up the ‘D2’ portion. The company didn’t reveal the size of the two pieces of the round. Other investors that took part included new backers Eastern Bell Venture Capital and PV Capital and returning investors ShunWei Capital — the firm founded by Xiaomi CEO Lei Jun — Xiang He Capital and MindWorks Ventures .

The deal takes Lalamove to over $460 million raised to date, and it follows a $100 million Series C that closed in late 2017. Lalamove isn’t disclosing a valuation but Blake Larson, the company’s head of international, told TechCrunch that it has been “past unicorn mark for quite some time [but] we just don’t talk about it.” That figures given the size of the round and the fact that Lalamove was just shy of the $1 billion mark for that Series C.

The Lalamove business is anchored in China where it covers over 130 cities with a network of over two million drivers covering vans, cars and motorbikes.

Beyond China, Lalamove is present in its native Hong Kong — where Uber once briefly tried a similar service — Taiwan, Vietnam, Indonesia, Malaysia, the Philippines and Thailand, where it works with popular chat app Line. All told, it covers 11 cities outside of China and this new capital will go towards expanding that figure with additional city launches in Southeast Asia and entry to India.

“If we do this well, then we are in countries that are more than half the world’s population,” Larsen said in an interview, although he didn’t rule out the potential for Lalamove to expand beyond Asia in the future.

There are also plans to grow the business in mainland China in terms of both geography and new services. Already, Lalamove has begun to offer driver services, starting with financing packages to help drivers with vehicle purchasing, and it is developing dedicated corporate offerings, too.

Lalamove CEO Shing Chow started Lalamove in late 2013, his past roles have included time with Bain & Company, a number of startup ventures — including a Hong Kong-based skin center — and a stint as a professional poker player

Overall, the business claims to have registered 3 million drivers to date and served more than 28 million users across all cities. With its headquarters in Hong Kong, it employs some 4,000 people across its business.

Rival GoGoVan exited through a merger with China-based 58 Suyun in 2017, at a claimed valuation of $1 billion, but Lalamove has remained independent and stuck to its guns. Larson said that already it is profitable in “a significant amount” of cities and typically, he said, the blueprint is to reach profitability within two years of opening a new location.

“The focus has always been on sustainable growth and we’re very strong on the cash flow front,” the former Rocket Internet executive added.

Larson and Lalamove have been very forthcoming in their desire to go public in Hong Kong, noting so publicly as early as 2017 at a TechCrunch China event in Shenzhen. That desire is still evident — “we’re very proud to be from Hong Kong and Hong Kong would be a good place for an IPO,” Larson said this week — but still the company said that it has no particular plan on the cards, despite its consumer-focused peers Uber and Lyft lining up IPOs in the U.S. this year.

“We don’t spend maybe even five minutes a year talking about it,” Larsen told TechCrunch. “The discussion is really ‘Let’s make sure we’re IPO ready’ because sometimes there are macroeconomic conditions you can’t control.”

Clearly, investors are bullish and it is notable that Lalamove’s new round comes at a time when many Chinese companies are downsizing their staff, with the likes of Didi, Meituan and JD.com announcing cuts and refocusing strategies in recent weeks.

“[Lalamove CEO and founder] Shing is a role model for Hong Kong’s new generation of innovative entrepreneurs,” said Sequoia China founder and managing partner Neil Shen. “Raised in Hong Kong and educated at Stanford University, Shing returned and plunged himself in the entrepreneurial wave of ‘Internet Plus,’ becoming a figure of entrepreneurial success.”

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The iPhone Battery Percentage Is Back Where It Should Be In iOS 16 Beta 5

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The iPhone battery percentage icon in the status bar has returned with the new release of iOS 16 beta 5. All iPhones leading up to the X display battery percentage in the status bar, but Apple sacrificed the convenience of the icon in favor of the then-groundbreaking notch design, which left little room for status bar data. Now, it looks like the company has figured out a way to do both.

On the models prior to the iPhone X, the battery percentage was displayed next to the battery icon. With the new design, the percentage is housed inside the battery icon, leaving space for other status bar data like Wi-Fi and cell signal information. Users no longer have to go through the hassle of opening the Control Center to check their battery level. When an iPhone running the latest iOS 16 beta is in Low Power Mode, the battery icon changes to yellow while still displaying the percentage. When charging, the battery icon turns green and shows a small charging icon next to the percentage.

The new indicator is available for the iPhone 12 and iPhone 13 models, excluding the ‌iPhone 12‌ and iPhone 13 mini, as well as on the iPhone X and the ‌iPhone‌ XS models. If you have an eligible model and you are already running iOS 16 beta, first update to beta 5, then go into Settings, Battery, and then Battery Percentage to enable the feature. According to CNBC, Apple hasn’t said whether the new feature will make it to the final cut of iOS 16, but our fingers are crossed hoping it does.

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Can Your iPad Get A Virus From Safari? Here’s What We Know

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As with any other source of access to the internet, it’s possible to get viruses depending on which websites you visit and what you do on them. There are many websites out there with less than good intentions, and from these, there is a potential for harm. Apple isn’t wrong about the extent of its security measures, though, when it comes to its devices. The iPhone, like the iPad, does have a layer of security already built in, with iOS keeping each app separated from the others. This makes it harder for viruses to infect the device and spread (via Apple.)

However, you do still need to be careful about what you do when you’re using the internet on your iPad. Although viruses are unlikely to happen, malware (or malicious software) is still possible. If you visit suspicious sites promising things too good to be true, don’t appear legitimate, and/or that prompt you to download files to your iPad, you’ll want to be very wary of the site and refrain from completing any download. If you have jailbroken your iPad, you’ll want to be even more careful, as this opens it up to security issues. In general, if a site is asking you to give up sensitive information such as bank information or your credit card, you’ll want to be extra careful. Only buy things from sources you trust. 

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DJI Avata Leak Teases A Drone You Can Fly Indoors

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Leaks suggest that the Avata will rely on three-inch propellors with a ducted design, while the mounted camera’s movements will be limited to a single axis of rotation. Alleged images of the package also appear to confirm the DJI Avata branding. The leak also mentions the ability to shoot stabilized videos at 4K resolution, a built-in propellor guard, low-latency transmission for high-resolution visuals, and a palm-sized build.

If the leaked retail box imagery is to believed, the next DJI offering will come bundled with accessories such as the Goggle 2, the new Motion Controller, flight battery, headband, spare propellors, USB-C cables, lanyard, screen protector, an eyeglasses frame, and a dual-band antenna to name a few. However, it must be noted that wearing the Goggles 2 will put the small drone out of the line of sight, which means you will need a spotter. It might also be a legal headache in some regions with strict drone regulations.

For folks only intending to use it for indoor video capture (or, perhaps, to participate in drone racing), the restrictions might be a tad easier. Unfortunately, DJI hasn’t shared any official details about the Avata FPV drone’s release. However, given the recent FCC appearance of the DJI Avata alongside the Goggles 2, it is quite evident that an official debut is likely just around the corner.

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