Quest Ventures’s Partner launches new VC firm MSW Ventures
MSW Ventures, launched by Jeffrey Seah, first fund Asia Fund X seeks to invest in foodtech, agritech, data tech, sustainability, and enterprise tech.
Sumitomo’s SMBC launches US$200M corporate VC fund in Singapore
SMBC Asia Rising Fund targets startups that contribute to SMBC Group’s business through collaborations or business development in areas such as lending tech, payment, supply chain finance, banking-as-a-service and digital assets.
SG’s Allrites goes public in the US through Aura Fat merger
A statement said the transaction will give Allrites an enterprise value of US$92M; The merger will see Allrites becoming a wholly-owned subsidiary of Aura FAT Projects and listed on the Nasdaq under the ticker “ART”.
Indonesian e-grocery firm Tumbasin shuts down, to file for bankruptcy
This comes after the company suffered from “insurmountable financial challenges”; Founded in 2017, Tumbasin enabled users to compare prices of groceries across traditional markets and make purchases directly through the platform.
Jollibee billionaires launch online stock trading platform DragonFi
With the ability to create personalised layouts and multi-monitor support, DragonFi offers advanced charts with over 100 studies, indicators, and drawing tools available on its web and mobile app.
Ant Group eyes selling stake in HK digital bank subsidiary
Ant Bank, which has received approval from the Hong Kong Monetary Authority, is reportedly in talks with potential investors to strengthen its operations; The sales plan, however, is still in its early stages.
Elon Musk teases free Tesla FSD trial in North America
The Tesla CEO has laid out a rough plan for expanding access to Full Self-Driving (FSD), the company’s advanced driver assistance system, throughout North America and the rest of the world.
Binance resumes Bitcoin withdrawals after two halts in a day
Binance had paused withdrawals earlier as it didn’t anticipate the recent surge in Bitcoin’s network gas fees; On Monday, the average fee per Bitcoin transaction rose to US$7.25, the highest since May 2021.
Indonesian online kitchen startup Uena raises funding
The lead investors are East Ventures and Trihill Capital; Uena will use the fresh funds to expand its operations in Jakarta as the company looks to cater to a larger user base.
UOB leads US$51.5M round of Vietnam’s Buymed
Buymed operates a B2B e-commerce website that connects pharmaceutical manufacturers, distributors, and clinics; Buymed (known as Thuocsi in Vietnam) recently raised US$51.5M from major regional investors.
Take a look at the news articles we published this week
Advance Intelligence Group’s US$80M raise and Integra Partners’s Fund II close were the major news of the week.
Bootstrapped: How dating app Sirf Coffee takes on the likes of Tinder without raising VC money
The early challenges for Sirf Coffee were buying behaviour, lack of dating exposure, credibility, and membership pricing.
How startups are using Hong Kong as the launchpad of their international expansion
On the sidelines of the 7th Elevator Pitch Competition (EPiC) by the HKSTP in late April, e27 had an opportunity to speak to several startups that participated in their programme.
These 15 startups might just be part of this year’s TOP100
From our diverse pool of applicants, get to know these 15 startups that are close to competing at this year’s competition.
MeetUp with Indonesia’s most exciting tech entrepreneurs!
The Indonesia stop of e27’s regional meetups is happening tomorrow, 9 May 2023. Here’s why you should be there.
Journeying through the long, winding road of startup investments and M&A in 2023
In addition to investments flowing into particular sectors, we can also expect to see more M&As happening in the region in 2023.
Why the education sector needs a lesson in ad fraud
Education marketers need to be fully aware of the digital advertising supply chain which requires more trust and transparency.
Early-stage proptech and contech investing: Who gets the VC checks?
When assessing contech startups, the ability of the founding team to navigate a complex B2B sales environment is key to their survival and growth.
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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 platform, and other prizes. Join TOP100 here.
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