Dear reader,
Klook’s recent announcement of a US$210 million financing round underscores its strategic vision for the future of travel. The investment will bolster product innovation, enabling the platform to broaden its city pass offerings and enhancing convenience and savings for travellers.
Additionally, Klook aims to amplify its digital presence through the Klook Kreator programme, leveraging social and user-generated content to drive conversions. The infusion of capital will also contribute to AI integration, building on a recent collaboration with Google Cloud to incorporate Generative AI across the platform.
Klook, launched in 2014, has distinguished itself by curating quality experiences globally, boasting an annualised gross booking value of US$3 billion. Despite the challenges posed by the pandemic, the company achieved overall profitability earlier this year, signalling resilience and adaptability.
CEO and Co-Founder Ethan Lin emphasised the strategic use of resources during the pandemic, including digitization efforts and supply network expansion. The company anticipates capitalising on the post-COVID recovery in Asia, with upcoming global events like the Paris Olympics 2024 and Osaka World Expo 2025 presenting opportunities for growth.
Positioned as a frontrunner in the dynamic Asia Pacific travel market, Klook aims to cater to the rising demand for immersive travel experiences and showcase the best of Asia to a global audience. As the travel industry is projected to soar to US$15.5 trillion by 2033, Klook’s strategic allocation of funds aligns with the positive industry outlook in Asia and underscores its commitment to sustainable expansion.
Sainul,
Editor.
===
Klook raises US$210M in new funding, says it is profitable in 2023
The investors include Bessemer Venture Partners, BPEA EQT, Atinum Investment, and Golden Vision Capital; Klook curates “quality” experiences ranging from attractions and tours to local transport and experiential stays in over 2,300 destinations globally.
Doctor Anywhere nets US$40.8M to deepen presence in secondary care
The investors are Square Peg and Novo Holdings; Doctor Anywhere, which focuses on enhancing healthcare accessibility and improving health outcomes, claims to have served 2.5M users.
Founders, directors lock legal horns at NFT startup Mintable
The allegations against each other include intentionally sabotaging a multimillion-dollar investment, a company coup led by the board of directors, and using internal funds to promote a website featuring illegal drugs.
Cake Group co-founder files to liquidate firm, court to decide
U-Zyn Chua is listed as the claimant and Cake Group as the defendant, which, according to the court’s website, means that Chua instigated the proceeding for a compulsory winding up; A judge will then rule whether to grant the application.
Muslim Pro app’s parent Bitsmedia secures US$20M
The investors are Gobi Partners, CMIA Capital Partners, and Bintang Capital; The funds will be used to advance the firm’s AI capabilities, enrich content offerings on Bitsmedia’s streaming platform Qalbox and develop educational features.
Oona Insurance to fully acquire InLife’s non-life JV in the Philippines
The acquisition enables Oona Insurance to increase its investments and continue innovating its products and platforms to fulfil its aim of becoming the digital insurer of choice in the Philippines and Southeast Asia.
Startup investments in SEA see 69% monthly drop in November: Tracxn
Southeast Asian startups raised US$226 million in investments across 26 rounds in November. The investments comprise 17 seed-stage deals, eight early-stage deals, and one late-stage round.
Circulate Capital makes final close of US$76M fund
With a presence in more than 10 countries, Circulate Capital partners with global brands and financial institutions to transform supply chains at scale by delivering economic, social, and environmental value.
Wavemaker Impact debut fund makes final close at US$60M
The fund, which surpassed its initial US$25 million target by 2.5 times, seeks to drive large-scale decarbonisation efforts in SEA; Wavemaker Impact has launched and invested in six companies and will soon launch its first companies in India and Australia.
Meatiply banks US$3.75M to scale cultivated meat production
The investors are Wavemaker Partners, AgFunder, and Seeds Capital; Meatiply is developing meat products by combining different cell types (muscle, fat, and skin) to produce natural compounds that can replicate real meat’s taste and nutritional value.
Animoca leads US$3M round in Japanese gaming firm Gacha Monsters
Other investors include Infinity Ventures Crypto, FBG, and Big Time Games; Gacha Monsters will use the funds to create and distribute IPs across various formats, such as video games, anime, comics, physical merchandise, and Web3.
TikTok likely to revive e-commerce in Indonesia via a deal with local GoTo
TikTok is in talks with GoTo to invest in Tokopedia in a deal that is expected to close as early as this month; The Indonesian government has said apps such as TikTok hurt its bricks-and-mortar shopping businesses by encouraging people to buy online.
Binance withdraws Abu Dhabi licence bid as crypto giant weighs structure
The Binance unit, called BV Investment Management, pulled the application with Abu Dhabi’s financial regulator; The request, filed a year ago and withdrawn on Nov. 7, would have allowed the firm to manage a collective investment fund.
YouTube now lets you pause comments on videos
Instead of turning off comments completely or holding comments to review them manually, you can temporarily pause comments until you have enough time to filter out trolls and negativity.
Alpha Partners: Leveraging VCs’ unused pro-rata rights and making an impact
Steve Brotman discusses Alpha Partners’s innovative approach, aiming to capitalise on emerging trends in digital economies, AI, and more.
Zespri wants to work with agritechs to improve kiwifruit production, distribution
In November, Zespri launched ZAG, the Zespri Innovation Fund, a US$2 million annual fund dedicated to accelerating sustainable innovation.
How Fairtile navigates the fintech frontier with credit, code, innovation
Fairtile offers a cloud-based solution that enables lenders to automate the credit assessment and underwriting process.
Gen AI in banking: How to ensure a successful transformation for an age-old industry
The integration of Gen AI introduces a complexity that disrupts the established balance between business and technology within financial institutions.
AI will have more impact on our future than blockchain: Dusan Stojanovic
The AI industry needs to have a more open playfield, so regulation is required as soon as possible, says True Global Ventures chief.
Hong Kong proptech innovators are reshaping the real estate landscape for GenZ
Millennials + Gen Z driving the demand for proptech solutions in Asia Pacific: discover how they place more emphasis on affordability, flexibility, sustainability & wellness.
Unlocking value in SEA’s trade channels with eB2B solutions
eB2B and digital route-to-market solutions are ultimately reshaping the landscape of FMCG, lubricants, and healthcare general trade channels.
The synergy of AI and DeFi: Shaping the future of finance
DeFi systems can adapt to market demands and provide cutting-edge monetary services to more people because they utilise AI.
Digital banking in Indonesia: Growing importance and future trends
Indonesia’s digital banking sector is taking huge steps towards a stable financial future. Discover Ivitech.Drive’s advanced approach to Indonesia digital banking.
Can Singapore truly become a cashless society with payment 3.0?
With payment 3.0, merchants will be empowered to choose from crypto, cash (fiat), and card all within one platform.
Why Singapore’s traditional sectors need a digital makeover
Starting on a digital transformation journey is like starting a good habit, it spills over to other areas and reinforces positive change.
Thriving under pressure: Navigating tech teams through stress
The way a team handles pressure can significantly affect its cohesion, either strengthening the bonds through shared challenges.
AI in influencer marketing: Transforming trends and shaping the future
As AI continues to evolve and influence the influencer landscape, the future looks bright for brands, talent agencies, and AI influencers alike.
Decoding the feasibility of credit on UPI in India: Challenges and prospects
India’s consumption economy has remained globally resilient, unaffected by macroeconomic fluctuations for over a decade.
Revolutionising Singapore’s healthcare amidst demographic shifts and economic demands
Given the rising healthcare costs and Singapore’s commitment to managing them, balancing cost and quality becomes crucial.
A year in review: 2023 regulatory updates impacting startups in Malaysia
As 2023 concludes, this article highlights key regulatory updates and legal decisions impacting startups in Malaysia.
Cultivating curiosity and driving impact in entrepreneurship
Martin, a multi-business entrepreneur with a scale-up mindset, challenges entrepreneurs to make their businesses work for them.
Why Liminal sees compliance as the way to go for the crypto industry
Liminal aims to build an efficient and compliant wallet operating system where users can with various digital assets and blockchains securely.
Visionaries clash over idealism while the tech industry embraces Web3
Web3 faces scepticism from figures like Jack Dorsey, who deem it ‘idealistic.’ Yet, industry leaders see vast opportunities paralleling past tech shifts.
Balancing revenue, impact remains the top challenges faced by social impact startups
For these social impact startups, cross-party collaboration can be a key to tackling these challenges.
Dream big, start small: Joel Neoh shares lessons from his years with Fave
In this interview, Joel Neoh reveals his more details of his plan to take a break after leaving Fave in March 2023.
SoGal’s Pocket Sun warns against ‘purple-washing’ startup investment
Pocket Sun insists on the importance for investors to take action, instead of just presenting the image of being women-friendly.
===
The post Ecosystem Roundup: Klook attracts US$210M; Chaos at Mintable; Doctor Anywhere nets US$40.8M appeared first on e27.