Thai startups raise US$529M in funding in Q1, outpaces Indonesia
Thailand accounts for 25.5% of equity funding while Indonesia claimed a 20.8% share; Singapore dominated the chart in Q1 with a combined US$960M funding.
BasisAI co-founder Liu Feng-Yuan investigated following Temasek acquisition
Temasek subsidiary Aicadium started the investigation after receiving a whistleblower complaint against Feng-Yuan relating to staff departures at the firm; Aicadium is understood to have taken management action.
Hong Kong’s CMCC Global launches US$100M Asia-focused blockchain fund
The fund has three main areas of interest: infrastructure, fintech, and consumer; It will primarily target seed and Series A investments; The firm has a strong investor base in Hong Kong.
SG’s early-stage VC firm Integra Partners closes US$90M Fund II
It will focus on fintech and digital health; Integra invests in pre-Series A to Series B stages and has backed 27 companies across two funds so far, including wagely, GIMO, and Brankas.
Bukalapak, 500 SEA partner for early-stage investments
Bukalapak is investing US$7.5M to join the fund as an LP; The partnership aims to back pre-seed, seed, and early-stage startups in SEA; The investment will focus on IT, communications, internet, medical tech, and deeptech.
Advance Intelligence raises US$80M to further develop AI innovations
Warburg Pincus and Northstar Group are the lead investors; Advance Intelligence provides an ecosystem of AI-powered, credit-enabled financial products and services.
Bhutan to raise US$500M for green crypto mining
The government has partnered with the Nasdaq-listed Bitdeer for this; Through its investment arm, the government will target institutional investors to fund crypto mining projects fuelled by the nation’s vast hydroelectric power capacity.
East Ventures leads Indonesian supply chain firm Praktis’s US$20m round
Praktis is an end-to-end supply chain enabler that provides services to help D2C brands in various areas such as raw material purchasing, production, fulfilment, and logistics.
Salim Group’s Otto Digital invests in Indonesian chat commerce enabler Mimin
Through the Mimin app, sellers can input orders that came in through chat platforms easily, and the app will automatically generate invoices and payment confirmations.
Ex-RedDoorz COO’s cloud kitchen firm DishServe closes down
The startup says it exhausted much of its runway on growth efforts despite having low margins; It had built a network of over 200 kitchen partners, servicing over 100K customers; Insignia Ventures is an investor in the firm.
Indonesian integrated cold chain solutions provider Coldspace raises US$3.8M
The investors include Intudo Ventures, Adi Sarana Armada, and Triputra Group; Coldspace offers cold storage facilities and reefer trucks through its own inventory as well as the third-party aggregated marketplace of partners.
Ion Mobility secures temporary injunction against ex-COO Joel Chang
The interim injunction order is part of an ongoing case related to a no-compete agreement between Singapore-based Ion Mobility and Chang; Ion founder James Chan and Chang parted ways in April 2021.
Mercu raises US$1.6M, aims to transform the ‘deskless’ workforce
The investors are 500 Global, Sequoia India, and XA Network; The startup enables employers to onboard, upskill, and engage with their deskless teams through chat apps.
Aeon to proceed with Malaysia digibank despite MoneyLion exit
MoneyLion decided to pull out of the consortium to focus on its US operations; This means Aeon, which runs a chain of supermarkets and shopping malls in Malaysia, will launch the digital bank with its two subsidiaries.
‘Don’t be the noise, be the value’: Kavita Gupta of Delta Blockchain Fund to aspiring female VCs
Most women who have made it to the top have learned to stand up and push and ask for what they deserve, says the Delta Blockchain Fund founder.
How HKSTP can help international startups in their expansion journey
For over 20 years, HKSTP has been building Hong Kong as a global innovation and technology hub to propel success for local and global startups.
‘Bootstrapping allows flexibility to respond to changing market conditions, client needs’
Inmagine has financed its growth through a combination of revenue reinvestment, strategic partnerships, and operational efficiency, says Co-Founder Stephanie Sitt.
Brand new days: How startups can approach growth in a post-pandemic world
Growth begins with finding that product-market fit; But does the old way remain relevant in our world today?
Fundraising? Here are 3 reasons why should join the 2023 TOP100
Joining TOP100 is an exciting opportunity for you to meet leading investors in the Southeast Asian startup ecosystem.
We know fundraising sucks, so e27 Connect is here to help you
Fundraising is a long, tedious process that needs a lot of work. But with e27 Connect, you don’t have to do it alone.
From job seeking to building a job portal: Turning my beliefs into reality
The more I spoke with job seekers and employers, the more I realised there is a very serious problem to solve: a lack of salary range transparency.
Unlocking angel investing: 6 key steps for making your first investment
In this article, I hope to share several steps that you should consider before cutting that first cheque as an angel.
Thrive amid business uncertainties with a reliable payment partner
How digital payment technologies increase sales, customer loyalty, and business resilience during economic headwinds.
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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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