Dear Pro member,
Elon Musk, whose obsession with X is famous, has replaced Twitter’s iconic logo with a stylised ‘X’.
The new brand name is the latest in a series of changes Musk has made (across the organisational and platform levels) since he acquired Twitter in 2022 and comes just a few weeks after Meta’s launch of Threads.
As per reports, the SpaceX founder has been working on transforming Twitter into an “everything app” along the lines of China’s WeChat. Just before its acquisition in October, Musk described the social networking platform as “an accelerant to creating X, the everything app”. After the deal was closed, he folded Twitter into an entity called X Corp. Early this month, Musk said he would form a new AI company called xAI.
Now, with Threads making waves in the social media world with new unique features, can Twitter continue its dominance, and does it have the X factor to beat it?
This is the highlight of today’s Ecosystem Roundup.
Take a look at the other headlines as well.
Sainul,
Editor.
Twitter has officially changed its logo to ‘X’
The company’s CEO Linda Yaccarino tweeted X will introduce features “centered in audio, video, messaging, payment/banking” and make it a “global marketplace for ideas, goods, services, and opportunities.”
Vietnamese earned wage access startup GIMO closes US$17.1M Series A
The investors include TNB Aura, Integra Partners, ThinkZone Ventures, and Genting Ventures; GIMO currently serves 500,000 workers from medium to large-sized multinational manufacturing companies.
Mirae Asset’s MAPS Capital eyes US$200M for Fund II
A first close of US$65M was completed last December from Mirae Asset and strategic investors; MAPS invests in global companies in frontier technologies and services that contribute to the upgrade of the consumption value chain.
Singaporean climate-tech startup Zuno Carbon raises US$2.5M
The investors are Wavemaker Partners, SEEDS Capital, and Blue InCube Ventures; Zuno’s ESG management platform Veridis analyses the data collected and generates sustainability reports based on global regulatory frameworks.
Heliconia Capital invests digital assets launchpad 2MR Labs
Other backers are Plug and Play APAC, The Assembly Place, and LucidBlue Ventures; 2MR Labs has also announced brand partnerships with Plug and Play APAC, The Assembly Place, PG, MetaOne, and UKISS Technology.
SG’s NxtGen Capital unveils inaugural fund targeting US
Called NxtGen Capital Fund 1, it aims to deploy capital into VC funds that have a small fund size; The firm will mainly look for funds that are less than US$150M in size.
Indian deeptech startup Ethereal Machines raises US$7.3M
The investors are Surge and Blume Ventures; Ethereal uses proprietary Computer Numerical Control machines, such as drills and mills, to produce precision engineering components for aerospace, automobile, and healthcare use.
East Ventures invests in Aevice Health
Aevice Health is a Singapore-based respiratory monitoring firm that aims to help the roughly 48.5M people in Southeast Asia who have chronic respiratory diseases.
TikTok Shop signs deal with BNPL major Atome in Malaysia
This will allow consumers to defer payment for their purchases over three or six months; Atome is operated by Singapore-based Advance Intelligence Group, which raised US$80M from Warburg Pincus and Northstar Group.
NextBillion.ai posts 28% revenue growth in 2022, losses widen to US$7.1M
Net cash flow used for operations also grew 100% year on year to roughly US$7M; The revenue growth was mostly driven by expansion efforts in North America.
Sam Altman’s Worldcoin eyeball-scanning crypto project launches
Worldcoin is expected to help build a reliable solution for “distinguishing humans from AI online,” enable “global democratic processes” and “drastically increase economic opportunity.”
Binance, OKX to list OpenAI founder’s Worldcoin
Deposits were enabled earlier today on both platforms, while withdrawals are tentatively set for tomorrow. Huobi and Bybit are among the other exchanges supporting the token.
Features
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‘Climate investment is still viewed as a philanthropic agenda, not commercially viable’
‘It takes time for a founder to convince investors that climate solutions enable cost saving or reduction and/or additional value and profit’.
Following fund completion, Eurazeo aims to support up-and-coming leaders in climate tech
The new Eurazeo fund is dedicated to digital innovation for sustainable cities, targeting the key sectors of the low-carbon economy.
Guest posts
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The growth of business messaging: How it’s improving business performance in Southeast Asia
Business messaging fosters personalised one-on-one connections, enhancing valuable conversations and driving business performance.
How to embrace a product mindset for digital success
Digital products require continuous iteration, adaptation, and improvement to remain competitive and meet evolving user needs.
The post Ecosystem Roundup: GIMO closes US$17.1M Series A; Twitter bird is replaced with ‘X’ appeared first on e27.