‘The SVB shutdown almost damaged the trust level in Silicon Valley’
The collapse of Silicon Valley Bank will affect startup valuations and make raising large late-stage rounds more challenging, say VCs; On the contrary, it might increase the attractiveness of Singaporean banks.
DBS, Heritas Capital hit US$20M first close of Asia Impact First Fund
The fund has a target size of US$50M and expects to provide growth capital to 10-15 social enterprises in Asia; The fund is managed by impact investment platform Heritas Capital.
Sea Group launches new digibank in SG on invite-only basis
According to the company’s website, users receiving invitations can deposit and earn 2.5% interest per annum; There’s no minimum deposit amount, salary crediting, and minimum spending for account holders.
Meta to slash another 10,000 jobs in latest round
In February, Meta reported a milestone of 2B users for Facebook, but its revenue continued declining; Its metaverse bet cost the company about US$13.7B in 2022.
99 Group grabs US$11M in Series C extension
The investors include OCBC NISP Ventura and Gaw Capital Partners; This investment will support 99 Group to continue its growth and expansion through strategic partnerships and acquisitions.
Auto dealer financing startup Broom bags US$10M to diversify product offerings
The investors include Openspace Ventures, MUFG Innovation Partners, and BRI Ventures; Over the past year, Broom claims to have transacted US$300M+ in inventory through its Buyback scheme.
Intellect seals strategic investment with IHH Healthcare
As a B2B2C mental health company, Intellect focuses primarily on working with employers and industry partners though it still has a ‘sizable consumer-facing app’.
Digital ads firm FunP Innovation Group raises US$3.1M from Foxconn unit
The funds will be used to develop smart retail and cloud services solutions for Indonesia and other APAC countries through FunP’s business unit CacaFly.
Schneider Electric unit joins US$2.7M round of SG agritech startup Agros
The other backers are Gaia Impact Fund, Wavemaker Impact, and Silverstrand Capital; Agros will use the funds to scale in its existing markets, strengthen its leadership team and develop an app streamlining the value chain.
Antler to invest in 30 Indonesian companies in 2023
Since expanding to Indonesia in 2022, Antler has financed 25 startups; Its local portfolio spans 16 sectors, including fintech with Brick, healthtech with CareNow and Healthpro, and edtech with Academix and Eduku.
1337 Ventures names 11 finalists for accelerator with RHB Banking
The RHB Xcelerator aims to link the bank with the region’s tech and startup ecosystem; Nine companies are based in Malaysia, with the remaining two coming from Singapore.
Animoca leads seed round of Saudi NFT marketplace Nuqtah
Nuqtah will use the new funding to expand its business over the next 12 months, focusing on product development, marketing, and talent acquisition.
Dana, Ant Group launch entrepreneurship programme for women
SisBerdaya aims to help female entrepreneurs from Indonesia develop business management and digital skills; The course will consist of a three-month mentorship and competition; The applicants will also receive a token cash prize.
Beyond SG and ID, SEA startups are working their way out of global crises
Despite the slowdown, Singapore and Indonesia continue to top the startup funding list. What does this mean for the rest?
GoWabi aims to be the go-to platform for all health & wellness services in SEA
The PTT OR-backed GoWabi is a SaaS platform and a marketplace that connects beauty, health, and wellness providers with potential customers in Thailand.
How Gevme aims to help event organisers reduce their carbon footprint
It provides tools such as a digital event help centre, digital forms and survey submissions, gamification, and a virtual venue for attendees to engage with.
The most important person I need to sell to is myself: Jeffrey Liu of Jenfi
The Co-Founder at Jenfi discusses finding a healthy balance that allows you to pursue your goals while still enjoying life outside of work.
How GHARAGE leverages resources of its German parent to help Asian startups expand into Europe
GHARAGE, which works in foresight and intelligence, venture building and investing, is backed by global travel retailer and wholesaler Gebr. Heinemann.
Industry giants helping make Echelon Asia Summit 2023 possible
Introducing some of Echelon 2023’s sponsors! Plus, a quick look at some of our speakers and panellists and an update on TOP100.
Thriving Southeast Asia: The unstoppable rise of growth and prosperity
Southeast Asia’s consistent growth, access to capital, and large market size make it an attractive destination for startups.
Why I (still) micromanage
Selective micromanaging is serious stuff, it helps us to give greater value to our clients and stakeholders.
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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like connecting with investors, visibility through the e27platform, and other prizes. Join TOP100 here.
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