Investments plateau across SEA in 2022 as recession looms
While the year started slowly in terms of funding activity, data from November 2021 through November 1, 2022, showed that the investment landscape was at its busiest in March, which saw US$3.9B in deals in the region.
Indonesian agritech firm TaniHub slashes more jobs
A source told Tech in Asia that a significant number of staff across almost all departments have been told they’re being let go by the company; This is the second publicly known wave of layoffs carried out by TaniHub this year.
GoTo may cut 1,000 jobs amid economic slowdown
The reduction will see staff from all functions affected and represents about 10% of GoTo’s workforce; Sources say the announcement of the layoffs to employees may happen in the coming weeks.
Vietnam’s F88 secures US$60M loan, eyes IPO by 2024
US$50M came from Lending Ark, while the additional US$10 million was provided by Lendable; The firm currently offers vehicle title loans, distribution of life and non-life insurance, bills payment, mobile money, and e-wallet top-ups.
Indonesian digital KYC firm Privy raise US$48M
Investors are KKR, MDI Ventures, GGV Capital, and Telkomsel Mitra Inovasi; Customers use Privy to open bank accounts, apply for insurance products, and secure loans without physically signing papers.
SG’s Spenmo said to be negotiating down round with investors
This comes less than a year after the spend management company closed its US$85.35M Series B led by Tiger Global; The move to negotiate a down round takes place against the backdrop of a major correction for many of Spenmo’s fintech peers.
Vickers Venture’s SPAC merges with Scilex
Scilex is focused on acquiring, developing and commercialising non-opioid pain management products for treating acute and chronic pain; The combined entity operates as Scilex Holding Company on November 11.
Singapore’s audio, video transcription app Auris AI raises US$1.3M
Tokyo university’s VC arm led the round; Since its beta launch in Dec 2021, Auris AI claims to have garnered over 90K users (content creators, media companies and freelancers) across 200 countries.
Education-focused fintech firm Rootopia secures US$1M pre-seed capital
The investors are Genesia Ventures, ThinkZone Venture, and BK Fund; Rootopia helps students to address their tuition and fees needs; It connects angel investors with parents who need funds for their children’s school fees.
ASEAN central banks sign MOU to boost cross-border payments
The central banks of Indonesia, Malaysia, Singapore, Thailand, and the Philippines have inked an agreement to bolster regional payment connectivity; The cooperation will include initiatives centred around QR codes and fast payments.
Japan’s Line messaging service launches Web3 game platform Game Dosi
Game Dosi is an all-in-one Web3 gaming platform that lets game companies launch NFTs; It aims to provide engaging games that users can enjoy intuitively and solutions to enable game developers to create their games more easily.
US Justice Department asks Binance for information on FTX
The department is pressing Binance for details on its recent discussions with beleaguered crypto exchange peer FTX; Binance has also been contacted by European regulators.
3 ways DeFi can improve how businesses operate and grow
Identity verification and know-your-customer processes become more efficient because of the transparent nature of the blockchain technologies that smart contracts are built on.
How Ringkas replaces paper-based mortgage application process in Indonesia with digital tools
Ringkas allows a customer to fill in just one application form digitally and submit it directly to as many banks as she wants; Ringkas is backed by 500 Global, Iterative Capital, Creative Gorilla Capital, Teja Ventures, and Init-6.
Do ride-sharing apps exacerbate digital exclusion?
The sharing economy has helped millions of people worldwide with new income opportunities where resources are not easily accessible.
Reimagining tuition: How tutors can stay ahead of an evolving learning system
All in all, like any other industry that has been around for a long time, tuition centres must be proactive in embracing and initiating change to remain competitive.
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The post Ecosystem Roundup: GoTo may cut 1,000 jobs, Investments plateau across SEA in 2022, Vietnam’s F88 eyes IPO by 2024 appeared first on e27.