Grab losses shrink 43% in Q1, revenue surges 130%
Net losses narrowed to US$250M from US$435M reported in Q1 2022; Deliveries were the star of the show for the company, contributing US$275M in revenue.
East Ventures closes US$250M fund for portfolio firms
The Indonesia-focused VC firm will continue to invest in early-stage and growth-stage companies through its seed and growth funds, which have been extended to have a corpus of US$585M.
MetLife, Khazanah join insurtech startup bolttech’s US$196M Series B round
The funds will be used to explore inorganic opportunities; bolttech works with insurers, telcos, retailers, banks, e-commerce and digital destinations to embed insurance into the customer journeys at the point of need.
Vietnam’s VNG eyes US$100M funding round
The company. whose businesses include online games, payment, cloud services, and Zalo, is working with Maybank on the fundraising; GIC, Temasek, and B Capital are its existing investors.
Ex-Spenmo CPO denies firm’s embezzlement rumours
Spenmo Indonesia is suspected of embezzling US$895K intended for the acquisition of two financial service providers, namely multi-finance company Beta Inti and remittance firm Aryadana.
Malaysia’s Signature Market delays domestic IPO after profit decline
The e-commerce firm wants to make healthier food products more accessible and affordable in Malaysia and the rest of SEA; Its profit has been dropping in the past two years due to consumers shifting back to offline shopping.
Venturra aiming for 8 to 12 deals in 2023
The firm has completed 29 investments since 2019, with the majority of them in seed-stage companies; Venturra prepares to launch a new fund – its third one – in the coming months.
Ex-Zalora CMO’s telehealth platform ORA secures US$10M Series A
The investors include TNB Aura, Antler, and Gobi Partners; ORA is a house of healthcare brands; Its brands include Modules (prescription skincare), OVA (women’s health) and andSons (men’s health).
Jenfi nets US$6.6M to expand its revenue-based financing business in SEA
The investors include Headline Asia, Monk’s Hill, and ICU Ventures; The fintech firm plans to expand its presence in Singapore, Vietnam and Indonesia while expanding into new markets across Southeast Asia.
Northstar, Golden Gate join US$4.3M round of SG AI firm Locofy
Locofy helps designers automate front-end code directly from their designs and integrate them with existing workflows, leveraging AI to convert designs into coding languages to save time.
Gojek, Dat Bike partner to roll out two-wheeler EVs in Vietnam
Dat Bike will provide Gojek driver-partners with Weaver++ motorbikes to use for GoRide, GoFood, and GoSend orders; Drivers can charge their Dat Bike battery for free at community charging points in Ho Chi Minh City.
Taiwanese enterprise firm Profet AI eyes SEA expansion
Profet AI uses machine learning to boost operational efficiency by allowing clients to create customized apps and AI-powered programmes; It mainly offers its services to electronics, semiconductor, and chemical manufacturers.
UK fintech firm 3S Money to apply for Singapore payment license
This is as part of efforts to expand its offerings in Asia; The firm helps its clients scale globally by offering business accounts with local details in markets like the EU, the UK, and the US.
‘Co-working spaces should introduce new tech tools to cater to hybrid, remote workers’
Co-working spaces, which used to be identified as ‘startup-friendly’, now have transformed into ‘business-friendly’, says Infinity8 Co-Founder and CEO Lee Sheah Liang.
Why Doctor Anywhere believes that the future of healthtech lies in preventive healthcare
In this interview, Doctor Anywhere Founder & CEO Lim Wai Mun reveals plans to acquire more companies in the healthcare sector.
‘Global firms are paying closer attention to SEA’s tech talent pool’: Glints CEO
Oswald Yeo says there is an industry shift towards the ‘make profits, sustain, and grow’ model and the concept of blitz scaling is mostly foregone.
How climate tech companies in Asia measure the impact of their work
To answer this big question, we reached out to climate tech companies in the Asia Pacific and get them to explain the details.
Echelon: Strategies for growth equity according to industry experts
Let these experts from 500 Global weigh in on what strategies companies in Southeast Asia must explore to pursue growth-stage funding.
Unleashing women’s potential: How tech companies are leading the way
Developing a healthy workplace culture that supports women is not only the right thing to do, but it is also a strategic imperative for Malaysia.
Cracking the PR code: A PR blueprint for startups
Unlock the world of PR for startups and take advantage of the techniques that can propel your startup to the top.
How are Singapore SMEs taking a proactive stance towards sustainability?
SMEs in Singapore have the ability to be proactive and be well-prepared for the inevitable inclusion of Scope 3 emissions as a business cost factor.
Singapore’s security industry: Why condos ‘peace of mind’ should be resolved with technology?
Singapore’s security industry is transforming to meet global demands through new technological advancements.
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Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.
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