GoTo’s IPO books covered, to raise at least US$1.1B
The offering got support from long-term investors, such as the Indonesian units of fund managers Schroders SDR.L and Eastspring Investments; The IPO is expected to be priced in early April and will then be open to retail investors.
SG blockchain firm Spartan Group launches US$100M venture builder
Spartan Labs will focus on the Web3 sector; It has appointed former CoinMarketCap executive Shaun Heng to lead the new initiative; Spartan Labs aims to launch six to seven Web3 projects each year.
SEA-focused SPAC RF Acquisition prices US$100M Nasdaq IPO
The firm will seek a business combination with an SEA company in the new economy sector; RF Acqisition targets companies in the financial services, media, technology, retail and interpersonal communication, transportation and education sectors.
Toss operator set to raise US$1B to take on Grab, GoTo in SEA
Toss, owned by Korea’s Viva Republica, expanded to Vietnam in 2019 by offering money transfer and debit card services; It currently has 3M active users in the country and adds more than 500K new users every month.
theAsianparent adds LINE Southeast Asia to its cap table
theAsianparent and LINE aim to disrupt the fast-growing mother and baby-care market and will explore synergies in the APAC digital advertising market; The firm claims to reach over 35M users monthly and its revenue grew 100% in 2021 y-o-y.
Line to launch NFT marketplace in Japan next month
Line NFT is affiliated with 17 content firms and will sell 100+ types of NFTs; Those who buy tokens on Line NFT can exchange them with friends who are also registered Line users; Customers can pay for their purchases via credit cards as well as for cryptocurrencies such as Bitcoin.
Indonesia to implement strict rules on internet companies
The new rules will allow the government to fine and criminally charge internet and social media platforms; The rules are among the most stringent globally on social media and follow intensifying crackdowns on online content that have alarmed activists in countries like India.
Genetic testing startup Nalagenetics raises US$12.6M Series A
Investors include DxD Hub, Dexa International, and Diagnos Laboratories; Its solutions empower healthcare professionals to implement predictive and pre-symptomatic testing for prevention geared towards chronic conditions in Asia.
Thai SEC bans use of cryptocurrencies for payments
The government body said that the move would help prevent risks for citizens and businesses, including the loss of value caused by price fluctuations, cyber theft, information leaks, and money laundering.
Zipmex bags US$11M more in Series B money
Investors include B Capital, TNB Aura, Bank of Ayudhya’s Krungsri Finnovate, Master Ad, and MindWorks Capital; The crypto exchange startup will use the funds to boost its market expansion into newer SEA markets, including Vietnam, by end-2022.
Crypto won’t be legal tender in Malaysia, minister says
Deputy finance minister I Mohd Shahar Abdullah says Malaysia has no intention of legalising cryptocurrencies like Bitcoin; He pointed out how using cryptocurrencies involve drawbacks such as price fluctuations and cybersecurity issues.
Alpha JWC, Centauri lead US$8M round of Indonesian aquaculture firm Delos
Delos’s main offering is a shrimp farm management system called AquaHero that can increase farmers’ productivity and overall yields; It plans to build two new services: supply chain integration through AquaLink and a lending platform called AquaBank.
iPrice Group raises US$5M from Itochu, Global Brain unit
iPrice will expand its services to the lending market by helping users find the best e-commerce offering and consumer loans to fund their purchases; iPrice claims it compares and catalogues over 7B e-commerce offers from 8M+ sellers, attracting 130M+ unique users in 2021.
Singapore DeFi platform Struct Finance raises US$3.9M
Investors include Antler and Arcanum Capital; The platform opens up the number of investment choices available, enabling varying protection levels and abstracting risk management and complex pricing away from its users while providing yields on various digital assets.
Locofy, a low-code platform that helps users convert design to code, raises US$3M
Investors include Accel Partners, January Capital, Golden Gate Ventures, Boldcap and angels; Locofy aims to help engineers ease their workload by converting designs to code and automating at least 50 per cent of the current workflow.
Decentralised trading firm PrePO bags US$2.1M in strategic funding
The round was led by Republic Capital and IOSG Ventures; PrePO allows users to take long or short positions on pre-IPO companies and pre-token crypto projects; It also provides users access to pre-public assets and up-to-date market prices.
Indonesian fishery startup FishLog nets seed money
Investors include Insignia Ventures Partners, Arise Ventures, KK Fund, Ango Ventures, and Captain Fresh; FishLog provides solutions for the fisheries supply chain, including stakeholders like fisherfolk, processing partners, and cold-chain logistics players.
A stroll through Mohammed bin Rashid Al Maktoum Solar Park in Dubai
The solar park is a massive renewable project based on an independent power producer model and has a planned production capacity of 5,000 MW by 2030.
How Perfect Fit aims to promote greener, more inclusive period products to Indonesia
The startup’s products range from reusable period underwear (that can be worn on its own without other supporting products such as tampons or menstrual cups) and cloth pads; It is an example of a startup that started off as a project by a non-profit organisation that works in rural Indonesia.
How Gringgo leverages AI to help improve existing waste management system in Indonesia
Gringgo’s platform will allow households to understand better the value of their waste and, at the same time, contribute to improving the waste management system.
Digital bank licences: Why does everyone want a slice of the unbanked?
Digital banks seek to improve digital literacy and to lessen financial inequality amongst the underbanked population; But digital banks face a set of challenges, including significant cybersecurity and data protection issues associated with running an online-only bank.
How SWAP Energy aims to promote EV use in Indonesia through the advantages of battery-swapping
SWAP Energy builds battery swapping infrastructure with more than 400 swap stations already available in Greater Jakarta Area and Bali.
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Image Credit: Spartan Labs
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