Alibaba said to be doubling down on SEA amid tech correction
Several industry sources said to DSA that Alibaba’s investment team has been on a SEA tour in the past 2-4 weeks, zipping across Indonesia, Vietnam and Singapore to engage directly with startup founders.
Accelerating Asia on building a company culture that fosters innovation and inclusion
To achieve its mission, Accelerating Asia needs to implement an organisational culture that supports and promotes the values they live by, says Co-Founder and General Partner Amra Naidoo.
Vision Fund’s US$21B in losses drag SoftBank Q1 earnings down
The Vision Funds, which posted a total of about US$21B in losses, saw its investments in publicly listed companies depreciating amid concerns of an economic recession.
Indonesian logistics firm Paxel secures US$23M funding
Investors are Astra Digital International, Central Capital Ventura, and MDI Ventures; Paxel provides same-day local and intercity deliveries, smart locker service, a local snack platform, bulk delivery offering, and waste treatment solution.
Singapore investment platform Xcelerate scores US$11M funding
Investors are Altair Capital and Exacta Capital; Xcelerate provides software solutions and services catering to the GRC and ESG requirements of corporates operating across geographies.
Crypto exchange Hodlnaut shuts down due to current market conditions
The Singapore-based exchange said the move will allow it to focus on stabilising liquidity and preserving assets while working toward a solution to its current situation; It was exposed to the collapse of the Terra blockchain protocol in May.
Binance, WazirX butt heads amid money laundering probe
Binance is distancing itself from its subsidiary exchange WazirX after the latter’s assets were frozen by Indian authorities last week following a money laundering investigation.
SIG, Singtel Innov8 invest in metaverse platform DataMesh
DataMesh helps companies to develop an internal metaverse platform for frontline workers in the manufacturing, construction, and operations sectors.
Crypto.com secures Korean operating licenses
The crypto exchange also acquired payment service provider PnLink and virtual asset provider OK-Bit; Crypto.com earlier secured approvals in Singapore and Dubai, and registrations in Italy, Greece, and Cyprus.
NTU, Royal Golden Eagle to launch US$4.3M textile research centre
The centre aims to bolster innovation in textile recycling and apply research outcomes; It will focus on sustainable textile recycling, automated textile waste sorting systems, eco-friendly dye removal, and new textile development.
SG’s consumer goods brand Cloversoft raises 7-figure seed funding
The lead investor is Apricot Capital; Cloversoft manufactures eco-friendly, high-quality household facilities, notably Singapore’s first unbleached bamboo tissue; It has customers across Malaysia, Brunei, Cambodia, Myanmar, and Taiwan.
Filipino D2C beauty, skincare brand Colourette closes seed funding
The investor is Foxmont Capital Partners; Colourette has fostered a community mindset by utilising social and digital community-powered marketing strategies, and actively engaging with the Colourette Club in product creation and innovation.
SG social networking firm NextBlock raises US$362K pre-seed
Investors are Plug and Play APAC, Farquhar Venture Capital and Razer CEO Min-Liang Tan; NextBlock aims for its platform to improve neighbour-to-neighbour communications by acting as a hub for users in a neighbourhood to come together.
BS Capital acquires Premier Taxis to boost vehicle leasing business
In addition to strengthening BIS Motoring, the group will also take over Premier Taxis’ street-hail service operator license and Class 2 ride-hail service operator license – both issued by Singapore’s Land Transport Authority.
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