SOSV General Partner William Bao Bean
SOSV, KISED to help Korean AI startups expand globally
The story: SOSV, an accelerator for mobile-first markets in Southeast Asia and South Asia, has partnered with Korea Institute of Start-up and Entrepreneurship Development (KISED) to help the country’s startups expand globally.
More details: SOSV, through its Asia-based accelerators — Chinaccelerator and MOX — will bring its cross-border expertise to the Global Startup Academy (GSA) programme, alongside 500 Startups, Plug&Play and Startup Bootcamp.
GSA is helping 60 Korean startups increase their footprint in Southeast Asia, the US, China, and Europe. Each of the four VC accelerators is working with 15 startups each.
The programme is geared towards bringing more Korean AI-startups to the global arena.
“The Korean government’s effort in initiating a project of such magnitude shows their seriousness and motivation to bring Korean startups to the global stage and we are happy to be a part of this initiative. The AI startups in the program have huge potential in terms of bringing more innovative solutions across different markets globally,” said William Bao Bean, SOSV General Partner.
Pomelo launches new app as part of its rebranding initiative
The story: Pomelo, one of Southeast Asia’s leading fashion e-tailers, has announced the official launch of its new app as part of its rebranding initiative.
The objective: Pomelo intends to transition from brand to a fashion and lifestyle platform
Also Read: How Pomelo tackles the problem of high product return with its O2O retail experience
More about the story: The app will include Pomelo’s new logo along with its latest omnichannel features, like live streaming. The company has also expressed its plans to expand brand selection across other Southeast Asian regions in 2021.
FreshToHome scores US$121M Series C
The story: Bangalore-based FreshToHome has raised US$121 million in a Series C funding round, according to TechCrunch.
Investors: Investment Corp. of Dubai (ICD), the principal investment arm of the government of Dubai (lead), Investcorp, Ascent Capital, US International Development Finance Corp. (DFC) and Allana
About FreshToHome: An e-commerce startup that sells fresh vegetables, fish, chicken and other kinds of meat. Through its app, the company can directly negotiate with local fishermen and farmers for their produce instead of selling via middlemen.
Also Read: Startup of the Month, November: Malaysian platform for verified part-timers GoGet
What sets it apart from other similar companies is that it does not add any preservatives or chemicals to increase the life of its produce, unlike most retail stores.
It currently claims to have 650,000 customers and receives 14,000 orders per day.
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Image Credit: SOSV
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