TaniHub
Dear Pro member,
For Southeast Asia’s female-founded startups, there was little to cheer about on this year’s International Women’s Day.
As per a DealStreetAsia report, VCs invested only US$2 billion — or just 12.6 per cent of the total capital in 2022 — in the startups founded by women. A significant 32% drop from 2021’s US$4.43 billion!
Despite the global campaigns against gender disparity in the startup world, startups founded by women are not getting adequate attention. Appointments of more women partners in VC firms could make a difference. What else can be done to improve the situation? Please share your suggestions.
Last week, we spoke with Jojo Malolos, the newly appointed CEO of the embattled Filipino fintech startup Paymongo. He discussed the ongoing issues in the startup and his plans to steady the ship. This interview will mostly be published next week.
Have a look at the top startup stories of Southeast Asia.
Sainul
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TaniHub’s fate hangs in the balance
The agritech company is currently under a temporary suspension of debt payment obligations; During this period, it needs to work out an arrangement to repay the creditors, failing which it may face bankruptcy proceedings.
SEA’s female-founded startups bag fewer dollars in 2022
Female-founded startups raised US$2B in equity funding, which is just 12.6% of all private capital raised during the year; Funding for female-founded startups dropped 32% last year from 2021’s US$4.43B.
Shopee lays off 200 employees in Indonesia
The decision aims to improve Shopee Indonesia’s operational efficiency; The news comes after Shopee recorded its first-ever profitable quarter in Q4 2022, with US$196.1 million in adjusted EBITDA.
SG’s tech talent war to continue as the job market stabilises in 2023′
A report by NodeFlair and Iterative reveals that local tech giants such as Shopee and Grab are proven to have power alongside international tech giants such as Bytedance and the FAANG.
Shopee surprises with first-ever quarterly profit
In Q4 2022, the e-commerce major logged US$196.1M in adjusted EBITDA; That’s a massive turnaround from the US$877.7 million in losses it posted in the same quarter a year prior.
Grab prepays US$600M in debt
According to the report, Grab’s existing debt under the term loan is down to US$517M; In February 2021, Grab secured a term loan facility of US$2B.
Grab CFO sells US$1.1M in shares
Peter Oey has sold 341,000 shares in the super app at US$3.17 apiece; Oey was appointed as the CFO in April 2020; He previously served as CFO for legal tech company LegalZoom and US consumer internet business MyLife.
Indonesia’s LinkAja posts 30% revenue jump in 2022
The fintech company said its operational expenses decreased by more than 50% y-o-y; As a result, LinkAja saw its EBITDA loss narrow by more than 60% last year.
Green Li-ion nets US$20.5M in pre-Series B round
The investors include Banpu NEXT (Thailand), Energy Revolution Ventures (UK), TRIREC, and Equinox Ventures; The Singaporean greentech company specialises in battery recycling technology.
Crypto lender Babel Finance to undergo restructuring
It has filed for a moratorium in Singapore to restructure its financial position and repay creditors; Upon the filing, the Hong Kong- and Singapore-based crypto broker will automatically receive a moratorium for 30 days.
Temasek’s SeaTown Holdings invests in Foundation Healthcare Holdings
FHH plans to expand its network and coverage through a “buy-and-build” strategy and extend into other ancillary healthcare services.
Singapore’s SWC Global leads US$7.5M Series A of Growfin
Other backers are 3one4 Capital and angels; India-based Growfin helps B2B firms optimise their working capital by accelerating payment collections from customers and improving cash flow efficiency.
EasyStore acquires Singapore’s chat commerce platform NovoChat
EasyStore merchants will be able to manage and automate customer communication with the help of ChatGPT across multiple chat channels, including WhatsApp, Messenger, LINE, and Telegram, from a single centralised inbox.
Singaporean startup The GrowHub nets US$3M pre-Series B
The investors are strategic individuals; The GrowHub enables producers and consumers to track, market and understand consumer behaviour and patterns using its Web3, NFC and QR code solutions.
EMERGE Group bags US$2.2M to expand its e-sports network in SEA
The investors include Farquhar Venture Capital and Arcane Group; The group claims it has over 580M audiences through its network of thousands of content creators and players from renowned e-sports teams.
Singapore’s Groundup.ai bags US$1.8M seed capital
The investors are Wavemaker Partners, SEEDS Capital and angels; Groundup.ai helps companies prevent unplanned downtime of heavy machinery and uses Computer Vision to improve workplace safety and save lives.
Init 6 backs pre-seed round of Indonesian D2C firm Gently
Gently is a mom-and-babycare brand; Although its products were only launched in April last year, Anjani said that Gently has sold over 10,000 products.
Capital A names CEO, CFO of AirAsia Digital
Colin Currie is the new CEO, and John Cheing is the CFO; AirAsia Digital houses the operations of its logistics firm Teleport, fintech arm BigPay, and the AirAsia Super App.
Endeavor Indonesia’s managing partner passes away
Wayah Surya Wiroto, oversaw the networking firm’s ScaleUp accelerator programmes and was a driving force in the local entrepreneurial community.
‘It is not just another event but an opportunity for all’:
The TOP100 competition helps founders build relationships with like-minded individuals in the startup and technology industry, shares an alumnus.
These 15 startups might just be part of this year’s TOP100
From our diverse pool of applicants, get to know these 15 startups that are close to competing at this year’s competition.
#She27: Celebrating 27 women shaping the future of tech
#She27 aims to amplify the voices of women in tech, highlight their achievements and inspire the next generation of female leaders.
These two sisters are on a mission to popularise immersive technologies in Brunei
Rumine Corporation enables businesses and industries to create customised AR, VR, Mixed Reality, XR, and Applied Games; It offers a customisable platform for personalised learning where users can train remotely.
Pocket Sun of SoGal Ventures warns against ‘purple-washing’ startup investment
Pocket Sun insists on the importance for investors to take action, instead of just presenting the image of being women-friendly.
How Singapore became a leading femtech startup hub in SEA
According to Fermata, there are two factors that help support the femtech industry in Singapore in 2022
The digital decade in SEA: How UK plans to embrace it with the local startup ecosystem
In Singapore and Southeast Asia, the UK has done several initiatives to connect with the local tech startup ecosystem.
Tech firms in SEA poised to ‘leap’ forward with gender equality
Within the tech industry, Southeast Asia is seen as a force leading the way for change by steadily narrowing the gender gap.
Bolstering Malaysia’s vibrant business landscape with the retention playbook
Strategies on customer retention, data analytics, personalisation, and loyalty programmes take centre stage in Malaysia.
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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.
The post Ecosystem Roundup: TaniHub in the soup; SEA’s female-founded startups struggle to raise funding; Job cuts in Shopee Indonesia appeared first on e27.