Accelerating Asia to invest up to US$141K each in startups

Singapore-based early-stage VC firm-cum-accelerator Accelerating Asia announced today that it will invest up to S$200,000 (US$141,000) in eligible startups from its third cohort.

This will be done via a Simple Agreement for Future Equity note in exchange for 7-10 per cent of equity each.

The investment also includes a US$17,600 to support the startup.

In addition, each attendee will receive perks worth US$159,000.

Accelerating Asia’s Cohort 2 Virtual Demo Day will take place online on Wednesday, April 29 at 15:00 SGT.

Information on the programme and its upcoming 3rd cohort are available here.

Malaysian adtech startup AdEasy introduces support for COVID-19-hit SMEs

AdEasy, a Malaysia-based adtech startup and online marketplace for buying offline ads space, has announced the launch of ​#AdEasyJagaSME.

It is an initiative to support small and medium enterprises (SMEs) affected by COVID-19.

AdEasy has urged people to buy local and support SMEs so they can survive the pandemic and stay afloat.

Also Read: No (wo)man’s land: Finding success in a male-dominated tech landscape

The #AdEasyJagaSME initiative webpage allows SMEs to register themselves for free, and they can go live within 24 hours of signing up. The ‘support’ button on the webpage redirects users to the SMEs’ website or social page where they can browse and purchase products and services.

The ‘share’ button allows users to spread the word about an SME and give them a shoutout on social media.

500 Startups invests in Malaysian startup LottieFiles

San Francisco- and Kuala Lumpur-based design and animation startup LottieFiles has raised an undisclosed amount in funding from 500 Startups and Adobe Fund for Design.

The company aims to pave the future of animation with a new file format, called Lottie (which on average is 600 per cent smaller than a GIF), and its animation workflow platform.

Kshitij Minglani, Co-founder and CEO of LottieFiles, said that the company plans to use the capital towards R&D efforts in making the Lottie file format even more capable and expanding its community of both individuals and medium to large companies.

Also Read: Glee Trees raises funding from 500 Startups to take its robotic process automation tech to Indonesia, Vietnam

LottieFiles focusses on the power of interactive content across platforms, devices and industry verticals, such as marketing, gaming, productivity, and media.

Mobile game publisher Funtap raises Series A led by Makers Fund

Vietnam-based mobile game publisher Funtap has secured a seven-digit investment in Series A round of financing, led by Makers Fund, a VC firm focussed on the interactive entertainment industry, as reported by DealStreetAsia.

Other investors participating in the round are South Korean VC firm DT&Investment, and Colopl Next, the corporate VC arm of Japanese gaming company Colopl. Existing backer Soulbei also joined.

The company said in a statement it will use the funding to develop its digital content platforms for entertainment and education in the future as well as prepare for overseas expansion to countries such as Japan, South Korea, and Singapore, among others.

In 2018, Funtap managed to raise US$300,000 in a seed funding round from Korean investor Soulbei.

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