Dear reader,
The Philippine startup ecosystem’s remarkable growth signals a maturing market increasingly attractive to global investors. The surge in deal flow, foreign direct investment, and digital innovation reflects a dynamic economy underpinned by strong fundamentals. With GDP growth surpassing regional peers and a burgeoning middle class driving consumer demand, the country presents a fertile ground for tech-driven entrepreneurship.
Fintech remains at the forefront, with digital payments gaining widespread adoption, while sectors like cleantech and digital health show immense promise. However, the lack of investors in the US$10–20 million range suggests a funding gap that could hinder startups seeking to scale. Bridging this gap will be critical to sustaining momentum.
Yet, challenges persist. Healthcare infrastructure remains inadequate, with medical inflation and workforce shortages posing systemic risks. The agricultural sector, despite its potential, struggles with productivity and financial inclusion. Likewise, MSMEs—integral to the economy—continue to face limited access to credit.
Government initiatives, combined with venture capital’s growing role, can help address these issues. As international confidence in the Philippines rises, sustained policy support and innovation will be key to ensuring the country’s tech ecosystem realises its full potential in the global market.
Sainul,
Editor.
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REGIONAL
Philippine startups break records in 2024: What’s driving the boom?
The Philippine startup scene is booming with record investments and fintech growth—but can it sustain momentum amid lingering challenges?
Singapore’s AnyMind completes acquisition of e-gifting company AnyReach
This marks AnyMind Group’s 10th acquisition and the fifth M&A of a Japan-based company | AnyGift allows online merchants to integrate e-gifting functionality into their checkout carts.
Malaysia approves US$29.64M initial funding for seven ECF, P2P platforms
The Ministry of Investment, Trade and Industry (MITI) said in a statement that the ECF platforms are pitchIN, Mystartr, Leet Capital, and Crowdo while the P2P platforms are Funding Societies Malaysia, CapBay, and B2B Finpal.
Granite Asia, Japan’s Integral Corporation form joint venture
The joint venture seeks to support high-growth technology companies entering the Japanese market | It also aims to assist Japanese firms in expanding internationally, particularly in Southeast Asia and other growth regions.
SEA embraces crypto payments, but security and merchant adoption lag
For 51% of respondents in the region, the speed and efficiency of transactions are the paramount reasons for embracing crypto payments | However, security risks were cited by 43% of users as a major barrier.
Millennials, Gen Z will shape 79% of SEA’s fintech landscape by 2030: Report
By 2030, UnaFinancial anticipates the total number of fintech users in the region to reach 505.6 million from the current 400 million.
Blibli posts 14% revenue growth in 2024
The Indonesian omnichannel commerce firm’s direct sales business grew 66% to US$51.89M | Meanwhile, its marketplace sales, including travel and lifestyle products on tiket.com, rose 26% due to higher customer demand.
SeaX Ventures unveils US$6M climate fund to back startups focusing on carbon reduction
SeaX Zero plans to invest in 15 to 20 startups by the end of 2025, deploying initial cheques between US$100,000 and US$500,000.
Flagright clinches US$4.3M to bolster AI-native anti-money laundering solutions
The investors include Frontline Ventures, Y Combinator, and Pioneer Fund | Flagright’s no-code platform offers a centralised solution encompassing dynamic risk scoring, automated case management, real-time transaction monitoring, and AML screening.
Singapore Deep Tech Alliance charts new course for impact-driven innovation
The SDTA has marked the past year with significant milestones, including the launch of a non-profit division, which is designed to leverage philanthropic and catalytic capital for projects outside the traditional venture capital model.
Singapore’s Elev8 Venture Partners leads US$50M funding round in smallcase
smallcase has developed a platform for model portfolios of stocks and ETFs, also called smallcases, for individuals to take a diversified approach towards building their long-term portfolios with full transparency and control.
1337 Ventures invests in Philippines-based Betterteem
Betterteem is a business intelligence platform that leverages AI to predict and mitigate employee resignations while enhancing workplace satisfaction | It has secured clients in Thailand, Singapore, South Korea, and the Philippines.
NUS expands BLOCK71 to Tokyo, strengthening Singapore-Japan deeptech collaboration
BLOCK71 Tokyo will serve as a crucial hub for Southeast Asian technology-driven startups seeking to expand into Japan | This follows the inauguration of its first Japanese location in Nagoya in November 2024.
Ex-software company Monday.com exec joins VC firm Entrée Capital
Yoni Osherov previously served as chief revenue officer at monday.com, where he helped scale the company from US$10M to over US$1B in annual recurring revenue | He was also part of the team that took the company public in 2021.
INTERNATIONAL
Elon Musk says xAI acquired X
The combination values xAI at US$80B and X at US$33B (US$45B less US$12B debt | The acquisition places X firmly under the umbrella of Musk’s AI startup, which he founded in 2023 to compete with OpenAI.
Trump says TikTok sale deal to come before Saturday deadline
Trump set the April 5 deadline in January for TikTok to find a non-Chinese buyer or face a US ban on national security grounds due to have taken effect that month under a 2024 law.
Blackstone reportedly eyes TikTok US minority stake
The discussions involve Blackstone potentially joining ByteDance’s non-Chinese shareholders, including SIG and General Atlantic | The proposal aims to restructure TikTok’s US business by spinning off its operations into a separate entity.
Taiwan releases first startup ecosystem report
The document indicates that there are 9,576 Taiwanese startups listed on FINDIT, a government-supported information platform | These startups operate in various sectors, including healthcare, media, entertainment, food, hardware manufacturing, and software.
OpenAI must go for-profit by 2025 to secure US$40B
If the restructuring isn’t completed within the year, the funding could be reduced to US$20B | The Wall Street Journal first reported this, stating OpenAI has been under a two-year timeline since its last financing round to complete the transition.
France fines Apple US$162M over app tracking transparency
France’s Competition Authority stated that the company’s App Tracking Transparency (ATT) feature unfairly disadvantages third-party publishers and advertising service providers | Apple is also required to publish the decision on its website for seven days.
Facebook ads promote illegal West Bank settlements
These ads included calls for demolishing Palestinian homes and fundraising for Israeli military units in Gaza | Meta said the ads were reviewed before being published, but did not clarify whether promoting illegal settlements violated its advertising standards.
Korean AI startup Wrtn raises US$73.5M Series B
The investors included Goodwater Capital, BRV Capital, and Antler | This marks the first time a Korean AI service platform outside the large-language model and semiconductor sectors has surpassed 100 billion won (US$67.76 million) in total investments.
ByteDance pressures US team as TikTok Shop falls short
TikTok’s shopping division failed to hit its goals in the US last year, and leadership is cracking down, company insiders told Business Insider | During a call, Bob Kang, the company’s China-based e-commerce head, singled out the US team as underperforming.
BYD targets 800K overseas EV sales by 2025
To address potential tariff challenges, BYD plans to assemble vehicles locally while sourcing key components from China | It’s building factories in Brazil, Thailand, Hungary, and Turkey but has no plans to enter the US or Canada due to tariffs.
SEMICONDUCTOR
From lab to fab: Inside Applied Ventures’s stage-agnostic deep tech investments
Applied Ventures’s Global Head Anand Kamannavar speaks about the key focus areas, investment criteria, trends, and expansion.
Malaysian chip designer SkyeChip secures investment from Gobi Partners
The funding will bolster SkyeChip’s talent acquisition, business expansion initiatives, and working capital | SkyeChip designs and develops semiconductors for cutting-edge applications in areas such as AI and high-performance computing.
AI boom drives increased demand for semiconductors: Industry leaders
According to industry leaders at the Nano Electronics Roadshow and Conference, they observed a sharp uptick in semiconductor consumption, with expectations for substantial growth moving forward.
ARTIFICIAL INTELLIGENCE
Unlocking your creativity and productivity with AI content tools
The secret is to recognise the obstacles to productivity and use cutting-edge technologies to go over them.
The creative revolution: AI’s role in the future of art
AI is reshaping creative industries, offering new tools while raising concerns about originality, copyright, and jobs.
Is AI the end of originality or a new dawn for creativity?
The future of creativity extends beyond adapting to AI; it’s about riding the wave to unlock new imaginative dimensions.
AI infrastructure: The unsung hero of technological innovation
While AI’s applications and ethics dominate discussions, the crucial infrastructure powering its development remains a silent force shaping our future.
Responsible technology and AI: Shaping Asia’s digital future
Hong Kong leads responsible AI development in Asia, balancing innovation with ethics through governance, transparency, and inclusivity.
THOUGHT LEADERSHIP
Interpreneurs: The key to successful global growth
Interpreneurs are an evolution of the agile innovators who operate within a distributed workplace that is becoming increasingly global.
From classroom to boardroom: How Singapore’s universities nurture future investment leaders
Singapore’s universities actively foster entrepreneurship and innovation skills among students, enabling them to thrive in dynamic business landscapes.
Beyond the pitch deck: How founders can leverage personal branding for startup success
Personal branding can be a game-changer for startups, attracting the right talent, securing crucial funding, and building a loyal customer base.
How Category Design drives productivity and efficiency
Category Design challenges you and your team to not only think bigger, but differently; it’s your opportunity to lead, not follow.
Mastering LinkedIn: Strategies for building a compelling personal brand
Highlighting three key questions professionals face when building a personal brand on LinkedIn, focusing on unique stories, visibility, and perception.
Doomscrolling, data, and decentralisation: Is social media finally ready for a change?
Endless scrolling harms mental health—can decentralised social media (DeSOC) break Big Tech’s grip and restore meaningful online connection?
Design for success: The entrepreneurial playbook for a competitive market
From breastfeeding struggles to a patented baby bottle design: How one mum-turned-founder built Hegen by listening, iterating and persisting.
Lifted by women, leading with gratitude
Grateful for the women who shaped my career, I now strive to lift others fostering inclusion, mentorship, and empowerment in every role.
Why startups fail: Lessons from immigrant entrepreneurs who beat the odds
Discover why most startups fail and how immigrant entrepreneurs succeed through resilience, adaptability, and strategic problem-solving.
US consumer confidence dips: How it’s hitting Asian stocks, crypto and beyond
Asian markets tread cautiously as Trump’s tariff plans loom, impacting stocks, currencies, and crypto amid shifting economic trends.
US tariffs vs crypto wins: An economic shift
Trump’s 25% auto tariff shakes markets, impacts industries, fuels crypto shifts, and raises big questions on trade, inflation, and policy.
Embracing sustainability: A circular design perspective on e-waste
Explore sustainable design’s impact on tackling e-waste, focusing on responsible product lifecycles and recycling for a greener future.
How fintech in Asia is enabling and making education affordable for everyone
Financing has always been the key barrier for enrolment and retention, and is a top-of-mind issue for schools.
Navigating the diverse crypto regulatory landscape in Southeast Asia
Cryptocurrency regulation and adoption in Southeast Asia vary widely, reflecting each country’s unique circumstances.
How to tackle employee mental health to build a resilient workforce
World Mental Health Day is the perfect opportunity to reflect on how organisations have supported their workforce.
The post Ecosystem Roundup: Philippine startups break records in 2024 | xAI acquires X | AnyMind completes acquisition AnyReach appeared first on e27.