SoftBank trims Oyo’s valuation by over 20%
It is now down to US$2.7B from US$3.4B earlier; The decision reportedly came despite the hospitality startup registering improved revenue in FY2022; The Indian company is eyeing a public market debut in 2023.
NIUM’s losses surge 120%, revenue doubles in 2021
The B2B unicorn, which provides payment and card issuance services, reported revenues of US$31M in the FY ended December 2021; Its total comprehensive loss jumped to US$37.8M, a dramatic spike from US$314K in FY2020.
Vietnam’s Be Group in talks to raise US$100M+ equity funding
Be is an integrated on-demand services platform across transportation, delivery, flight booking, insurance, etc. It recently secured a loan facility of US$60M from Deutsche Bank; Be currently has 7M users.
Malaysia’s StoreHub secures US$13.5M pre-Series B funding
The investors are 500 Global, Vertex Ventures SEA & India, and OSK Ventures; StoreHub provides an online platform that enables restaurants and retailers to automate their business; It serves over 15K retail and restaurant outlets.
HappyFresh resumes services in ID; ceases ops in MY, TH
The e-grocer said it has also received a “recent injection of fresh funds” to support operations in Indonesia – its only profitable market among the three it operates in.
Indonesian beauty platform Somethinc snags US$10M Series B
The investors include Sequoia India and Prosus Ventures; The startup makes and sells skincare and beauty products via online and offline channels; It has previously raised US$2M Series A from Sequoia.
Gobi closes US$10M fund, welcomes Allianz Malaysia as LP
Gobi SuperSeed II Fund will focus on startups that work in the segments of AI, big data, cloud, e-commerce, fintech, internet of things, and the Halal economy; It can invest in up to 25 portfolio companies.
Conversational commerce platform Respond.io nets US$7M
The backers include Headline, AltaIR Capital, Smart Partnership Capital, Sterling Oak Group; Respond.io claims that over 10K companies in 86 countries use the platform and processes over 140M messages monthly.
SG logistics software firm Cargobase closes growth financing round
The investors include Trestle Partners and Lufthansa Innovation Hub; Cargobase offers spot-buy procurement, freight management, real-time shipment tracking, and freight data analytics services in 55 countries.
Tencent shuts down sell-off rumours, notes healthy cash flow
After Tencent shares dipped to their lowest value since 2018, The Wall Street Journal shared that the firm was looking to sell its stakes in Didi Global, Meituan, and KE Holdings.
Indonesian agri supply chain startup Koltiva bags funding
The investors include Silverstrand Capital, The Meloy Fund, Planet Rise, and Blue7; Koltiva creates traceability data and delivers agronomy advice to help smallholder farmers improve their agricultural practices and income.
TrueFoundry raises US$2.3M to help startups with ML model deployment
The investors include Sequoia India, Surge, Eniac Ventures; TrueFoundry enables startups to deploy and monitor machine learning models at the speed of big tech companies in hours instead of weeks.
Grab names Suthen Thomas Paradatheth new group CTO
He will helm the internet major’s tech initiatives across its delivery, mobility, and financial services businesses; Paradatheth served as Grab’s first technical lead when the firm was founded in 2012.
Web3 and Crypto News
Bug bounty platform for Web3 Immunefi secures US$24M Series A
The investors include Framework Ventures, Electric Capital, Polygon Ventures, and Samsung Next; The platform supports 301 projects across multiple crypto sectors and collectively offers US$136M in bounties to whitehat hackers.
TGV pumps US$21M into Animoca in its largest investment yet
This round followed an earlier US$17M infusion, with the Investments being made through TGV’s 4 Plus Fund and its Follow On Fund in the second and third quarters of 2022; TGV has been backing Animoca since early 2019.
Cross-border trade digitisation startup #dltledgers nets US$8.5M Series B
The investors are TATA group and Centrum; The capital will help blockchain-powered #dltledgers execute its plans for North American expansion while scaling its engineering and growth teams further.
Binance-backed Tokocrypto lays off 45 employees
It also spun off its community space T-Hub and TokoMall into independent companies and transferred some of its employees to those entities; The decision was made in anticipation of a continuous bearish trend in the crypto market.
HQ.xyz raises US$5M for its financial management tools for Web3 teams
The investors include Crypto.com Capital, Forge Ventures, MassMutual Ventures, Saison Capital, Coinhako, and Longhash Ventures; Headquarter provides a dashboard for Web3 teams to manage their financial operations and reporting.
Features
How TotallyAwesome helps brands engage kids, teens in a meaningful way
TotallyAwesome is a digital ads network that recently raised US$10M funding from US-based Partners For Growth and Singapore’s Yefira Group.
Why ClavystBio believes life science is a key driver of SG’s future economy
ClavystBio is set to invest in CoV Biotechnology which is developing booster vaccines against variants of SARS-2 beta coronavirus.
Playground to be a bridge for the next billion users into Web3 entertainment
Playground will be a natural attention conduit mediating ecosystems, entertainment projects, and end-users, says its Founder Clinton Teh.
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