Mobio Interactive raises US$1.8M seed funding
The story: Singapore-based Mobio Interactive has raised US$1.8 million in seed funding, according to Mobihealthnews.
Investors: Verge HealthTech Fund, Atlas Asset Management, Creative Ventures and SOSV
More about the story: The startup will use the funding to improve its deep tech capabilities and clinical validations for its Am Mindfulness (Am) app.
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About the company: Mobio Interactive builds software to prevent, measure and treat mental illness. Its Am app enables users to quantify stress through a machine learning tool without using a wearable device.
GoBear cuts off 11 per cent of its workforce
The story: Singaporean fintech startup GoBear has let go of 22 employees, (about 11 per cent of its workforce), according to Vulcan Post.
Out of the 22 employees, about 50 per cent are locals and the rest are permanent residents.
More about the story: This news comes weeks after the company raised US$17 million from Walvis Participaties and Aegon.
The reason: The company has said that the layoffs are due to the uncertainty caused by the pandemic and is a way to “future proof” the business.
“We have had to take measures to adapt our business to overcome challenges and future-proof it for what lies ahead, by focusing on our growth engines of digital lending and digital insurance brokerage,” Adrian Chng, CEO of GoBear said.
The company: Founded in 2015, GoBear was initially meant to be a metasearch engine before making a transition into financial services. It currently has over 100 commercial partners, including banks and insurance providers, and is used by over 55 million people.
Myanmar’s Zay Chin raises funding
The story: Online grocery store platform Zay Chin has raised an undisclosed amount of funding to enables customers to shop for groceries from wet markets in Myanmar.
Investor: Indonesia’s UMG Idealab
More about the story: The fresh funding will be used for regional expansion, operational upgrades, and technological enhancement to create a better shopping experience.
Also Read: PropertyGuru raises US$220M from TPG, KKR to accelerate growth in Malaysia, Vietnam
According to the company, traditional wet markets grocery products are high in demand among local housewives in the country.
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Image Credit: GoBear
The post In Brief: Singapore’s Mobio Interactive, Myanmar’s Zay Chin raise funding; GoBear lays off employees appeared first on e27.