Taiwan’s enterprise AI firm iKala raises US$17M led by Wistron Digital for expansion into Indonesia, Malaysia; iKala provides AI-driven digital transformation and data-driven marketing solutions; 400+ enterprises across 12 industries and 15K+ advertisers have used iKala’s tech. e27
Singapore’s See-Mode secures US$7M Series A led by MassMutual Ventures SEA; The medtech startup uses AI to help clinicians better predict the risk of stroke and vascular diseases; The firm plans to use the fresh funds for expansion into the American and European markets, R&D, hire people. e27
How Singapore is handling the biggest WFH experiment; When it comes to switching the entire economy to the remote mode, the city-state is among the countries with the best head start; The island state’s IT industry is known for its reliance on state-of-the-art collaboration and communication tools that make remote work possible. e27
Telkom Group-backed MDI Ventures launches new US$500M fund; The fund seeks to push digitisation of Indonesia’s state-owned enterprises (SOEs); So far, the CVC has invested in 44+ startups from 12+ countries; It also has 3 high-profile exits (Whispir IPO, Naspers acquisition of RedDot Payments, 8×8 acquisition of Wavecell) to its credit. e27
HK-based alternative protein fund Lever VC makes 1st close of Fund 1 at US$23M, targets a final close at US$50M; The firm was started by early investors in Beyond Meat and Impossible Foods; Lever VC is an investor in Singapore’s cells-based milk startup TurtleTree; The alternative protein sector is projected to grow by 31% y-o-y and become a US$85-140B market over the next 10-15 yrs. e27
BukuKas raises US$9M pre-Series A from Surge, Credit Saison, others; Total funds raised by the 8-month-old startup has reached US$12M; Since inception, BukuKas has partnered with 900K small merchants and retailers and the app is used in 700+ cities and districts across Indonesia. e27
Why the new Singapore variable capital company (VCC) is a fund structure game changer; Under the VCC Act, foreign corporate entities may also be re-domiciled to the city-state; A VCC can be set up as a standalone entity or as an umbrella entity with multiple sub-funds; Each sub-fund may have different investment objectives and strategies, investors, assets, and liabilities. e27
Why Sesamilk thinks plant-based milk is healthier than cow milk and has a bright future; Currently, Sesamilk is available in about 500 stores (online and offline) across Thailand and is exported to Japan, Macau, Hongkong, Vietnam; It has received seed funding from Lee Choo Chien of Singapore and Somchai Hirunyakorn of Thailand. e27
Joseph Phua steps down as group CEO of M17 Entertainment; Hirofumi Ono, the chief of its Japan business, has been promoted as new global CEO; Phua will assume the role of non-executive Chairman at M17; Under Ono’s leadership, M17 will aim to continue growing into a global live streaming platform. e27
The secret is out: The missing piece that will boost your corporate innovation strategy; Aside from taking into consideration factors such as innovation culture, resources and the executing team, adopting the appropriate innovation approach is key to determining the outcome of your corporate innovation efforts; This is where the concept of ‘pre-accelerator’ assumes significance. e27
Singapore’s Doyobi announces US$1M in funding from 500 Startups, Xoogler Angels; The online school offers coding courses for kids that are supported by Google, the government, as well as educators from around the world; Investment in edutech companies have grown from US$500M in 2010 to US$7B in 2019. e27
Singapore’s construction management startup Hubble raises funding from Malaysian PE, OSK Ventures; Hubble is the official partner of Singapore’s Building and Construction Authority for the development and implementation of the BuildSG-COVIDSafe platform; In June, Hubble raised US$3.7M, led by Tin Men. e27
SEA’s indexes miss equity rally because they lack tech stocks; Tech stocks have been at the forefront of the worldwide equity rally from March lows as the virus outbreak accelerated the global shift toward automation, and locked-down consumers fuelled demand for everything from video games to e-commerce. DealStreetAsia
Study: Gen Z is more likely than millennials to get into the startup game; 8 in 10 students believe college is important to achieving their career goals; 63% of those same students – all between the ages of 16 and 19 – said they want to learn about entrepreneurship in college, including how to start a business. The Next Web
E-commerce platform Aladdin Group returns as tech company; The group, which focuses on the halal sector and Muslim-friendly segment, now takes the approach of leveraging on Malaysian talents and pairing with a strategic partner in China that specialises in AI, e-commerce, social commerce. Malay Mail
In age of scarcity, Traveloka goes from ‘hunting’ to ‘harvesting’ in its marketing rethink; ‘When you’re in growth mode, you hunt for customers and once they are in your ecosystem, they become your crops and you farm them and the you harvest them’, says its CMO. WiT
How BukuWarung is changing the back alleys of Indonesia; The book-keeping app sets the foundation for merchants’ operational efficiency and enables access to financial services; it opens MSMEs up to the broader fintech ecosystem via technologies that can help these businesses scale faster, generate more income, and find more lucrative growth opportunities. e27
Hong Kong’s ‘banking alternative’ Neat adds US$4M to its US$11M Series A; Investors include MassMutual Ventures, Pacific Century Group, Linear Capital; With its offering of online company incorporation, multi-currency wallet, corporate expense cards and international remittances, Neat is primarily focussed on SMEs trading between Europe and Asia. Business Insider
Why Clik believes that Cambodia is the best place to pilot a new fintech infra; The nation has a pretty dynamic fintech sector and there’re quite a few players such as Pi Pay, a youth-targeted cashless mobile payment platform; Clik recently secured a US$3.7M seed and is set to launch its platform at end-2020. e27
Lu partners with Kasikornbank to meet rising demands for digital financial services in Thailand; Together, they will launch and operate an online wealth management platform for retail investors; Lu is the Singapore subsidiary of Chinese retail fintech Lufax. Retail News Asia
Lazada Malaysia records three-fold increase in SMEs that have digitised business; The e-commerce platform is focused on its efforts to support the gov. initiatives to aid local SMEs and the country’s economic recovery; In August, it launched online campaigns aiming to promote local sellers and products. Malay Mail
How IoT revolutionised medical care during the pandemic; From high-level healthcare devices to common household gadgets, IoT technology is getting more intelligent and connected to the internet, facilitating seamless communication between networks and devices. The Next Web
Thailand’s digital content industry poised to surpass US$960M; This is because the demand for digital content has surged, particularly in entertainment segment, due to the longer time spent online in the new normal. Bangkok Post
—
Image Credit: 123rf.com
The post Ecosystem Roundup: MDI Ventures launches new US$500M fund; iKala, BukuKas, See-Mode, Doyobi, Hubble raise funding appeared first on e27.