Astra subsidiary SMI set to pour US$259M into Bank Jasa Jakarta
Once the deal pushes through, SMI will have 1.1M shares, or a 49.56% stake, in the local bank; At the same time, WeLab will also increase its ownership in the bank to 49.56%.
Ascential acquires Singapore’s Intrepid Group for up to US$250M
Intrepid is an omnichannel e-commerce solutions company; It will become part of the digital commerce division of Ascential, which will now get a strategic entry point into Southeast Asia.
Naver-backed gaming firm Planetarium Labs raises US$31.8M Series A
Investors include Dynamic Sky Group, Krust Universe, Wemix and Greatest Enterprise; Planetarium Labs provides a moddable online gaming experience for AR/VR based on a distributed gaming architecture.
Indonesia’s Paxel raises US$22.7M in Astra-led Series C
Other backers are MDI Ventures, Central Capital Ventures, SIG, FJ Labs, and Endevour Catalyst; Paxel is a logistics startup that offers same-day delivery and smart lockers services.
Singapore cloud communication company Toku secures US$6M Series A+
It comes 10 months after Toku raised US$10M in Series A led by Deliver Hero-backed DX Ventures; Toku has been providing cloud communications to Gojek, JCDecaux, foodpanda.
Singaporean data firm Finquest bags US$5.5M funding
Investors include Capricorn Partners and Ad-Ventures Invest; Finquest leverages data and AI to identify and connect corporate buyers and PE investors with direct investment and acquisition opportunities in the private company space.
Juragan Material nets US$4M to grow its B2B marketplace for building materials in Indonesia
Investors are Go-Ventures (lead) and SIG; Juragan Material has over 9K SKUs and 180 brands across structural, architectural, mechanical and electrical products onboarded onto the platform.
Indonesian personal finance app Pina bags US$3M in seed money
Investors are AC Ventures, Vibe.VC, and Y Combinator; Pina enables users to monitor their assets and invest their wealth in stock or mutual fund products; It also has a feature that lets users learn how to manage their finances properly.
Indonesian language-learning startup LingoTalk bags financing
Investors are Iterative Capital and edtech accelerator Eduspaze; Backed by an AI recommendation system, LingoTalk’s platform teaches users to speak different languages; The firm has 10 language courses, including French, Arabic, Japanese, and Spanish.
Grab, BRI Ventures launch accelerator programme for startups
Through the Grab Ventures Velocity (GVV) Batch 5 X Sembrani Wira Accelerator Program, Grab provides mentorship sessions, workshops, access to funding, and an opportunity for founders to test their ideas or products in the Grab ecosystem.
Korea begins second round of investigation on Kwon, TFL, LUNA crash
Initially, Joint Financial and Securities Crime Investigation Team of Seoul Southern District Prosecutor’s Office will focus on reviewing legal principles and interrogating witnesses after taking over the case.
Singapore crypto platform Vauld pauses withdrawals amid industry crisis
The platform saw over US$141.5M in customer withdrawals since mid-June, which followed a slew of hits to the crypto industry; Vauld will apply to the Singapore courts for a moratorium on any proceedings faced by the firm.
3AC team’s properties may be seized for liquidation
The trio behind the Singapore-based crypto hedge fund are said to have amassed several billions of dollars in crypto assets at their peak; Between them, they reportedly owns five upscale properties, luxury vehicles and yachts.
Zilliqa co-founder’s new blockchain firm AltLayer secures US$7.2M in seed money
Investors include Polychain Capital, Breyer Capital, and Jump Crypto; AltLayer helps blockchain app developers set up a disposable layer to withstand surges in traffic, such as during minting events.
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