Singapore’s EDP Renewables APAC secures US$95M from parent firm
It marks the first time the company secured additional backing since Portugal-based renewable energy major EDP Group acquired 91% of Sunseap through its subsidiary EDP Renewables in November 2021.
TikTok partnership reduces GoTo’s burden, pressures Sea: analysts
The e-commerce competition will remain elevated in the next two years. While TikTok and Shopee grapple for market share in Southeast Asia, rivals Shein and Temu could also join the fight.
Patrick Walujo’s Northstar closes SEA early-stage tech fund at US$140M
Northstar Ventures (NSV) I targets consumer internet, fintech, and enterprise software companies that operate in SEA, primarily in Indonesia; It has already backed more than ten startups in the region, such as Gently, Maka Motors, and Locofy.ai.
Delivery Hero trims Berlin workforce, closes Taipei, Istanbul tech hubs
The move is part of the online food delivery company’s plan to boost efficiency; in September, the company was mulling divesting its Southeast Asian business, including Foodpanda.
Biorithm scores US$3.5M for solution that prevents pregnancy complications
Lead investors are Adaptive Capital Partners and SEEDS Capital; Biorithm aims to end preventable pregnancy complications through protocol-based remote monitoring of maternal and fetal biometrics.
India’s Udaan bags US$340M in Series E money
The investors are M&G Plc, Lightspeed Venture Partners, and DST Global; Udaan lets buyers – which include small businesses such as shopkeepers, restaurants, and street vendors – source from a large selection of products at lower prices.
Udaan sacks at least 100 employees
This comes after the online B2B unicorn raised US$340M in Series E money last week; Last November, the company had fired at least 300 employees days after raising US$120 million.
OpenAI suspends ByteDance’s access to ChatGPT for usage terms violations
It was reported that ByteDance has been secretly using OpenAI’s API to train its own large language model at almost every stage, violating the ChatGPT creator’s business terms that forbid users from developing a rival AI model using ChatGPT outputs.
‘Tens of millions’ to enter Web3 through gaming in 2024: GameFi execs
In the last three months, around 1 million — or more — unique active wallets have played Web3 games daily, according to DappRadar data; The casual Web3 gaming space — including mobile games — is where Animoca’s Yat Siu expects to see the most activity.
Recent data shows AI job losses are rising, but the numbers don’t tell the full story
Layoffs are a reality, but AI tech is also enabling business leaders to restructure and redefine the jobs we do; While positions like research and data analysis are in line for AI automation, companies will still need someone to prompt the AI, make sense of the results and take action.
In good times and bad: An outstanding investor will stand by you
To founders, the greatest margin of safety allowing for a good night’s sleep is knowing that investors will be there through the rainy days.
Navigating cybersecurity: Antivirus vs endpoint protection
As businesses grow, upgrading from antivirus to endpoint protection becomes crucial for a proactive cybersecurity defense.
Why 2024 will be interesting for Malaysia’s funding ecosystem?
Funding announcements by institutional investors like Khazanah and KWAP may attract additional private capital to the Malaysian funding ecosystem.
Security breach hits NFT Trader, resulting in major losses
Among the NFTs stolen in this incident are at least 13 Mutant Ape Yacht Club tokens and 37 Bored Ape tokens; Additionally, NFT Trader reported losses involving VeeFriends and World of Women NFTs, cumulatively valued at nearly US$3M.
The challenges ahead for generative AI
Rightsholder advocates are fighting this case convincingly. The outcome remains far from clear though, and could yet upend the practices of leading Generative AI companies like OpenAI and Stability AI.
Top 10 startup founders in the e27 community shaping the tech industry
This feature highlights our top 10 startup founders, offering valuable insights into their journeys and experiences within the ecosystem.
Funding winter hits startups: Scaling down, survival strategies take centre stage
The sudden scarcity of funds forces startups, even unicorns, to cut back as a global correction impacts valuations, triggering survival strategies and caution from investors.
How LUNO Expeditions aims to support early-stage fintech, crypto entrepreneurs
Led by seasoned global investor Jocelyn Cheng, Luno Expeditions will scale up investments to 200-300 per year.
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