HyperSpark, an early-stage, sustainability-focussed startup programme in Asia, will hold its Demo Day on Wednesday (May 6).

The virtual Demo Day will feature 10 companies in the first cohort of its 10-week-long pre-accelerator programme. The cohort includes a company working on zero-waste organic toothpaste, a tech-enabled hiring platform that cuts out the middleman for migrant workers, and a social learning platform for kids.

These startups will share real stories about their challenges and commitment to tackling global sustainability issues.

Also Read: HyperHack, world’s first sustainability hackcelerator, to launch in Singapore

HyperSpark is a part of HyperX, the global hackcelerator programme launched by StartupX and Temasek, to propel innovative solutions that can help shape a better, smarter, and more sustainable world. It aims to provide a platform for startups to get support, mentorship, resources, and funding regardless of the stage they are at.

The programme pivoted to an online format midway through, as the teams adjusted to the circuit breaker measures that were introduced in early April.

Over the course of ten weeks, the HyperSpark teams worked with mentors and coaches on various aspects of their business, building up their product and acquiring their first users and customers.

Each team was also provided with a US$10,000 grant to support them in their product development and user adoption to define their product-market fit and gain traction.

StartupX’s CEO Durwin Ho said that the first cohort of HyperSpark shows that there is still much work to be done to help sustainability-focused startups grow in Asia’s ecosystem.

“We have seen so much potential in the first cohort. These companies are working to improve education, achieve zero-waste in different industries, and provide greater access to underserved communities, to name a few. But 2030 timeline to achieve sustainable development goals is looming and more needs to be done to support founders and innovators in this space,” he added.

—

Photo by NeONBRAND on Unsplash

The post 10 sustainability-focussed startups to present in HyperSpark’s virtual Demo Day appeared first on e27.

We know that being a startup founder and staying on top of things can be a very difficult job. Our goal is to make the experience so much easier for you.

On top of running companies toward optimum business growth, startup founders also have to deal with the overwhelming number of news and information being broadcasted every day. News and information are imperative for the modern-day tech entrepreneur to stay ahead and keep up to date with things concerning the ecosystem. Information about our community ultimately helps founders become better decision-makers.

As such, one of the most important features of e27 Pro is the e27 Ecosystem Roundup: an exclusive bi-weekly subscription that features relevant, curated, and actionable news and insights geared for business success.

The e27 Ecosystem Roundup is a comprehensive archive that covers everything from the latest news to insights on current trends. What makes it exciting is that we put together everything you need to know from over 50 reputable news sites in one email, twice weekly.

With the help of this feature, startup founders no longer have to sift through piles upon piles of new information every day. The e27 Ecosystem Roundup already does that job for you, and more. With everything you need to know about tech and startups in one email, startup founders can focus on running their businesses and still remain updated with the latest news and trends.

Also Read: Going big? Then Go e27 Pro.

The e27 Ecosystem Roundup is only one of the many key features that come with a Pro membership. By signing up for Pro, you can enjoy a slew of exciting things including access to e27’s investor database, the chance to be featured on our Fundraising widgets, and the power to get in touch with your dream investors through e27 Connect.

Staying true to its name, an e27 Pro membership means taking your company to a more professional level, all while supporting your company and the vibrant startup community that we all operate in.

Join e27 Pro

Be a part of the Pro community and sign up for an e27 Pro membership today! You may visit here for more details.

The post Why the e27 Ecosystem Roundup is everything you need to stay up to date appeared first on e27.

GudangAda, an online B2B marketplace for fast-moving consumer goods (FMCG), has raised US$25.4 million in Series A funding round, led by Sequoia India and Alpha JWC.

Existing investor Wavemaker Partners also joined.

This round brings the company’s total fundraise to date to US$36 million.

Also Read: Indonesian B2B marketplace for FMCG gudangada secures seed funding led by Alpha JWC, Wavemaker

The Jakarta-headquartered company said in a statement that it will use the money to enhance its platform, launch new initiatives, and strengthen the team.

Started just over a year ago, GudangAda connects small mom-and-pop retailers with wholesalers. The platform empowers the FMCG supply chain by bridging a technology gap, enabling traders to become both a seller and buyer in conducting multiple transactions concurrently. This way, business are able to sell products at cheaper rates and expand their reach.

The company claims to have a full market coverage of FMCG wholesalers in Indonesia, and it is now targeting seven to ten per cent of the nation’s large retailer base for their next phase of growth.

The limited physical interactions due to the COVID-19 pandemic are pushing wholesalers and retailers to adopt digital solutions putting the FMCG market in Indonesia in a challenging position.

With the rising awareness around the importance of social distancing, GudangAda has also launched several initiatives, including a pilot logistics service to help the merchant network maintain the availability of essential products in the local supply chain.

Also Read: Challenging existing fundamentals in logistics and supply chain

This service is currently available in Greater Jakarta, Bandung, Semarang, Medan, and Lampung, while the company has expansion plans to cover major cities nationwide within the next few months.

The company is also working on distributing government assistance to remote and secluded areas by leveraging its nationwide reach within the nation’s FMCG supply chain during the social restrictions. It also launched food donation programmes across the country for underprivileged local citizens.

Previously, GudangAda raised US$10.5 million in a seed funding round co-led by Alpha JWC Ventures and Wavemaker Partners, with participation from Pavilion Capital.

—

The post Indonesia’s B2B FMCG marketplace GudangAda raises US$25.4M Series A to launch new initiatives appeared first on e27.

Single-use plastic continues to be a grave threat to the planet.

Researches are going on across the world to develop an environmentally-friendly alternative to plastic and several innovators have already made a breakthrough.

Singapore-based RWDC Industries is one such company that has developed a biodegradable version for single-use plastic. The biotech startup has just bagged a massive financing for its work.

RWDC closed a US$133 million “two-stage” Series B funding round, co-led by Vickers Venture Partners, Flint Hills Resources, CPV/CAP Pensionskasse Coop, and International SA.

Also participated in the round are existing investors, including Eversource Retirement Plan Master Trust and and cross-border VC investor WI Harper Group.

This comes exactly a year after RWDC raised US$22 million in a Series A round, led Vickers and US-based Eversource Retirement Plan Master Trust.

Established in 2015 by Roland Wee and Daniel Carraway, RWDC develops innovative and cost-effective biopolymer material solutions, including polyhydroxyalkanoates (PHAs).

Also Read: Financial products comparison firm GoBear acquires lending platform AsiaKredit to build regional reach

PHA is naturally produced by microbial fermentation of plant-based oils or sugars and is commercially viable biodegradable bioplastic. PHA will help to improve the climate, with less GHG emissions. It will also improve human health and the health of our ecosystems, with no endocrine disrupting chemicals and no harmful micro-plastic waste.

Expanding to Athens

RWDC will use the funding to meet growing demand for PHA, including by expanding the company’s production capacity with a new facility in Athens, Georgia. A portion of the capital will also go into R&D.

“This investment will help us significantly increase our production capacity so that we can meet needs of brand owners who want to improve the lives of their customers by offering materials that have a positive effect on human health while improving environmental stewardship,” said Carraway.

Produced primarily from used cooking oil, PHA is certified by TÜV AUSTRIA to be fully biodegradable in soil, water, and marine conditions – leaving no toxic residue.

In 2018, RWDC’s proposal to use PHA to start replacing single-use plastics won the inaugural Liveability Challenge, presented by Temasek Foundation.

The biotech company will accelerate plans to meet increasing demand for materials to replace plastics for food service, food packaging, consumer goods packaging and other consumer items.

Vickers Venture Partners is a global early-stage VC firm investing in lifesciences, technology, media, telecom, consumer and financial services. In March 2020, Vickers received commitments of over US$200 million for its fifth fund worth US$500 million.

—

e27 Pro membership will further empower you with insights, tools, and opportunities that help you solve the problems that hold you back. Begin your company’s journey to success here.

Image Credit: RWDC

The post Singapore’s biotech firm RWDC bags US$133M to create a plastic-free world appeared first on e27.

Vietnam’s fresh farm food-to-table platform FoodHub raises seed funding

FoodHub, a startup that home-delivers fresh farm food in Vietnam, said today it has raised “up to hundreds of thousands of USD” in seed round of funding.

ThinkZone Accelerator, which has previously invested in the startup, acted as  a funding connector and consultant in the current round. It is not clear if ThinkZone has also joined the new round.

When contacted, FoodHub declined to share the details of the investors and  transaction.

The funds will be used to scale FoodHub’s business with a focus on Vietnam’s Northern market and to further promote its supply chain growth. 

“After validating FoodHub’s product fit, it is time for us to accelerate and scale up. And we have been fortunate to meet a very suitable strategic investor, with not only a supplement of financial resources but also many other core competencies. The two parties have agreed on a roadmap to cover Vietnam’s Northern market right this year,” said Vinh Nguyen, Founder of FoodHub.

Launched in 2019, the startup aims to help customers buy fresh farm food via a mobile app easily and quickly. 

According to the company, organic food market has been wholly neglected by the Vietnamese e-commerce platforms because of its distinctive characteristics, such as short shelf-life, complex packaging standards, difficulties for storage and non-uniformity in quality. 

However, FoodHub claims to have grown its customer size more than three times since launch, primarily during COVID-19. 

Beenext leads US$13.3M Series B  in logistics startup Loadshare

India-based B2B logistics-tech firm Loadshare has raised US$13.3M from Singaporean venture capital fund Beenext, according to VCCircle.

The Series B funding round saw additional participation from Matrix Partners, Stellaris Venture Partners, and Alteria Capital.

The new round of investment will be used to expand its network and enter sectors such as pharmaceuticals, fast-moving consumer goods and grocery for delivery of essentials.

Also Read: Morning News Roundup: Cashlez becomes the first Indonesian fintech firm to debut on country’s Stock Exchange, plans to raise US$5.8M

Founded in 2017, Loadshare offers technology-based solutions for small to medium business owners in logistics, including access to customers, guidance on business development, branding and operational know-how.

India’s e-commerce giant Flipkart names new CFO

India’s e-commerce giant Flipkart has confirmed Sriram Venkataraman as its new chief financial officer (CFO), according to The Economic Times.

In his new role, Venkataraman will be responsible for key finance operations and functions at Flipkart and Myntra, including tax, risk management and treasury.

Emily McNeal, who preceded Venkataraman, has decided to return to the US to pursue a career opportunity outside the Walmart Group, according to a statement.

“Sriram has consistently demonstrated his expertise managing several diverse functions at Flipkart and is well poised to take on the responsibilities as Flipkart Commerce CFO. We thank Emily for her leadership and guidance in strengthening the governance process and financial reporting at Flipkart post the Walmart investment,” said Flipkart Group CEO Kalyan Krishnamurthy.

–

Image Credit: Blair Fraser, Beenext

The post Afternoon News Roundup: Vietnam’s fresh food-to-table platform FoodHub raises seed funding appeared first on e27.