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Singaporean VC firm Satori Giants enters Cambodia with investment in Jalat Logistics

Jalat Logistics team

Singapore-based early-stage VC firm Satori Giants has forayed into Cambodia with an investment in last-mile delivery service company Jalat Logistics.

This investment, made in partnership with Hong Kong’s X Venture Holdings (XVH), brings Jalat Logistics’s valuation to over US$1 million.

Jalat Logistics will use the fresh funds to expand its services vertically, scale warehouse operations, and prepare for international expansion.

Founded in 2021 by Sou Sethey, Sou Sreyphoung, and Ung Lylay, Jalat Logistics provides a management portal to streamline logistics operations and enhance service delivery. Phnom Penh-based startup ships inventory, optimises it intelligently across its networks, packs it according to brand identity, and delivers it to customers within four hours. According to Chairperson Sreyphoung, Jalat Logistics aims to introduce standard same-day delivery that is “reliable, convenient, and informative”.

Also Read: ‘Founders in SEA should connect with global startup hubs’: Miguel Encarnacion of Unifier Ventures

Founded in November 2023, Satori Giants blends venture capital with venture studio practices, focusing on high-potential markets in Southeast Asia. It provides capital, resources, networks, and expertise to help launch and grow successful ventures. Led by Riz Aslam, Max Thornton, Dominic Kalousek, Tan Ser Chhay, and Tommy Sim, the team has over 50 years of combined experience in business development and sales across the UK, the US, the UAE, Singapore, Japan, Korea, and Southeast Asia.

“We invest in ambitious founders, SMEs, and technology-driven companies that are revolutionising old business practices,” said Riz Aslam, CEO of Satori Giants.

Satori Giants previously backed Gamlytics, an e-sports analytics company based in Singapore. The B2B platform developed by Gamlytics offers advanced tools to enhance player performance, strategise gameplay, and optimise team compositions for esports teams across Asia, Europe, and the Americas.

Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

Image credit: Jalat Logistics

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Kasagi Labo secures US$12M to bring Japanese anime to global audience

Kasagi Labo CEO Kendrick Wong

Singapore-based Kasagi Labo, a venture studio that brings authentic Japanese anime to a global audience, has secured US$12 million in a pre-Series A round of financing led by Burda Principal Investments, a division of Europe’s media and technology conglomerate Hubert Burda Media.

CMT Digital, SuperScrypt, Hashed, Sfermion, and Gold House Foundation participated.

This brings Kasagi Labo’s total funding raised to date to US$20 million.

Kasagi Labo will invest the funds in anime productions by building, partnering, or acquiring existing anime IPs. This initiative aligns with the prevailing trends in the industry, driven by the surge in video-on-demand services.

Also Read: LiquidX acquires Anime Metaverse to invest in anime IP, grow brand

Founded and helmed by anime enthusiast Kendrick Wong, Kasagi Labo delivers authentic Japanese anime content through a multifaceted approach encompassing IP licensing, distribution, and merchandising. The platform aims to unite the entire anime content creation ecosystem, from IP owners to artists and voice actors.

Industry forecasts predict a remarkable compound annual growth rate (CAGR) of 9.4 per cent, propelling the anime industry from its 2022 valuation of US$25.8 billion to an estimated US$62.7 billion by 2032.

Founder and CEO Kendrick Wong said: “With a strong coalition of strategic investors, industry advisors, and an experienced management team, the company is well-positioned to spearhead innovation and set new benchmarks in the global anime landscape.”

Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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BANIQL attracts US$1.6M for its innovative approach to nickel, cobalt extraction

BANIQL co-founder and CEO Willy Halim

BANIQL, a company developing a sustainable approach to nickel and cobalt extraction from laterites, has announced the closing of its US$1.6 million seed funding round.

BEENEXT led the round, which was participated by Seedstars International Ventures, A2D Ventures, Sopoong Ventures, and angel investors from the US, Indonesia, Singapore, Malaysia, and the XA Network.

The seed funding will be allocated to build a pre-pilot facility, expand the R&D and engineering team, and support patent development, collaboration, and product development.

Also Read: Exponent Energy unlocks a zero to 100 per cent 15-min rapid charge for electric vehicles

Founded by Willy Halim (CEO), Eric Januar (COO), and Seung Wan, BANIQL has developed innovative technology to make the extraction of nickel and cobalt sustainable and environmentally friendly. Nickel and cobalt are essential components in electric vehicle (EV) batteries and renewable energy storage.

Traditional extraction methods are often associated with significant environmental damage. BANIQL’s solution can reduce water and energy consumption, minimise chemical usage, and decrease the ecological footprint associated with nickel and cobalt extraction.

The initial target market is Indonesia, which holds 25 per cent of the world’s nickel reserves, according to Statista. The firm is also working to penetrate the South Korean, Australian, and Philippine markets.

BANIQL has secured a US patent pending for its technology and establishing strategic partnerships with key players in the industry, such as one of the largest Indonesian mining companies with extensive experience in nickel mining as well as precursor engineering and distributor ROV in Korea. These partnerships will provide the firm with access to resources, expertise, and market networks as the company progresses toward commercialisation.

Also Read: The growth of electric vehicles is saving the planet, one trip at a time

The battery raw materials market is expected to reach US$60 billion by 2030, and BANIQL’s vertical integration with materials processing could unlock an additional US$62 billion market opportunity. With a combined market potential of US$120 billion, it aims to capture a significant share of this market and generate US$1-3 billion in revenue.

Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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Gobi Partners backs Humble Sustainability that helps organisations reduce e-waste

The Humble team

Humble Sustainability, a climate-tech startup based in the Philippines, has secured undisclosed funding led by Gobi Partners through its Gobi-Core Philippine Fund.

The Philippines government agency National Development Company (NDC), through the Startup Venture Fund; Double River Impact; Equitrust Holdings; and several high-profile strategic corporations and angels, including those from XA Network, also participated.

Also Read: What is circular economy and why F&B companies should care

The funding round follows the startup’s oversubscribed seed round led by Seedstars International in late 2022.

The fresh capital will be used to expand operations and scale its business.

Humble promotes a circular economy by helping businesses sell their old IT equipment instead of throwing it away, reducing electronic waste. It aids clients in reaching their Environment, Social and Governance (ESG) goals by reusing equipment.

The company has an ambitious goal of making one billion items circular by 2030.

Also Read: The circular economy as the next frontier for Asia’s innovators

The climate-tech venture claims to have diverted over 250,000 kilograms — the equivalent of 116,279 laptops, 6250 residential split-type air conditioners, or 185 Honda Civics — of e-waste from landfills so far. Humble achieved this milestone by leveraging its extensive network of more than 75 B2B clients, which includes renowned companies like Canva, Manulife and Sunlife.

Gobi-Core Philippine Fund co-founder and managing partner Jason Gaisano said: “Considering Asia has been previously recorded to contribute to almost half the world’s e-waste, it’s encouraging to witness the rise of circular economy initiatives in the Philippines.”

Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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Why making time for Raya open houses is essential hustling for founders and leaders

Throughout the whole month of Syawal, I find myself reflecting on the age-old tradition of attending Raya open houses amidst our modern, fast-paced world. In Malaysia, Singapore, and Indonesia, Raya, or Eid, celebrations hold profound cultural significance, transcending mere religious observance. In this era of hectic hustling schedules and digital connections, and if you truly believe in the value of PR, I believe it is crucial for founders and industry leaders to invest their time in attending these festive gatherings, not only for the sake of tradition but also for the invaluable opportunities they offer for networking and relationship building.

For us Malaysians, Raya open houses epitomise the spirit of unity and inclusivity that defines Malaysian culture. It is a time when friends, neighbours, and even strangers come together to partake in the joyous festivities, regardless of race, religion, or social status. This spirit of togetherness fosters a sense of belonging and reinforces the bonds that tie our diverse society together. By actively participating in these celebrations, we, the founders and leaders, could demonstrate our commitment to embracing and preserving our cultural heritage, thereby strengthening our connection to the communities we serve.

Beyond the cultural significance, Raya open houses provide a unique platform for networking and relationship building that cannot be replicated in any boardroom or conference hall. In our interconnected world, where business transactions often occur over emails and video calls, face-to-face interactions remain invaluable. Especially after almost three years devoid of physical events due to the pandemic, it’s only natural for us to yearn for human contact. Attending Raya open houses allows us to engage with peers, clients, and stakeholders in a relaxed and informal setting, fostering deeper connections and mutual understanding.

Also Read: Barbie-fy your business with the power of PR

I recently met a young startup founder who was navigating the complexities of launching their new product. Fortunately for him, he met a seasoned entrepreneur who offered invaluable advice and mentorship to him at one of these Raya open houses. This chance encounter not only provided him with practical guidance but also opened doors to potential partnerships and collaborations. Such stories are not uncommon, where opportunities often present themselves in the most unexpected of places. I myself have experienced it many times.

Moreover, these gatherings offer a glimpse into the lives and traditions of our diverse society, providing valuable insights that can inform and enrich our business strategies. By immersing ourselves in different cultures and perspectives, we gain a deeper appreciation for the nuances of our market and the needs of our customers. This cultural intelligence is essential for businesses operating in Malaysia, where diversity is not just a buzzword but a lived reality.

In addition to networking opportunities, Raya open houses also serve as a platform for showcasing corporate social responsibility (CSR) initiatives and strengthening brand reputation. Many companies take advantage of these gatherings to engage in philanthropic activities, such as distributing aid to the less fortunate or sponsoring community events. By aligning their brands with values of compassion and generosity, founders and industry leaders can enhance their corporate image and earn the goodwill of their stakeholders.

Of course, I understand that attending Raya open houses can be challenging, especially for busy professionals juggling multiple commitments. The KL traffic jam isn’t helping either (I recently was stuck in standstill traffic for two hours on my way to attend a Raya open house by Malaysia’s largest and leading integrated media company, #NotFun). 

Also Read: Yan Lim: a PR maestro in SEA’s entrepreneurial ecosystem

However, I believe that the benefits far outweigh the inconveniences. As leaders, it is our responsibility to prioritise building relationships and nurturing connections, even amidst our hectic schedules. By carving out time to attend these gatherings, we not only honour our cultural heritage but also invest in the social capital that is essential for long-term success.

To me, Raya open houses represent more than just a chance to indulge in delicious food and festive cheer; they are a celebration of our shared identity and a testament to the strength of Malaysian culture. As founders and industry leaders, it is imperative that we recognize the importance of these gatherings and actively participate in them. By doing so, we not only enrich our own lives but also contribute to the vibrant tapestry of Malaysian society.

So, well done to those who have been embracing this tradition and seizing the opportunity to connect and celebrate the spirit of Raya with open hearts and open minds. And kudos to the organisers. I certainly had a very nice share of Raya open houses this year. Looking forward to connecting with new friends I recently met.

Food for thought for next year?

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