Posted on

Today’s top tech news: Singapore’s Grab faces anti-monopoly investigation from Malaysia

Also, IDEMIA to extend investment to the Asia Pacific, and Cleantech startup Eavor raises US$11M Series A round of funding

Malaysia investigates Singapore’s Grab monopoly allegation [The Business Times]

Malaysia reportedly has decided to conduct an anti-monopoly investigation into Singapore-based Grab Holdings Inc, after announcing the intention last year. This move reflects on the country’s effort to make it a business destination.

“It sends a signal to foreign investors wanting to enter Malaysia that it’s going to be a fair playing field without unfair advantages to favored companies because of political connections or other reasons,” said Alex Holmes, Asia economist at Capital Economics.

However, Malaysia Competition Commission chief executive officer Iskandar Ismail declined to elaborate on specific steps the commission takes.

Ismail further said the commission is looking into a few companies pitching for state contracts for possible bid-rigging practices after the country discovered a bid-rigging practice by eight companies forming cartels to manipulate bids on tenders involving information technology services in March.

Multiple complaints accusing Grab of monopolistic practices sparked the investigation, shortly after it bought Uber Technologies Inc.’s Southeast Asian operations.

IDEMIA broads platform’s capability with newly received APAC’s investment [Press Release]

IDEMIA, Singapore-headquartered Augmented Identity provider, announces that it has expanded investment into the Asia Pacific region, specifically inti Canberra and Sydney, Australia.

IDEMIA enables citizens and consumers alike to perform daily activities (such as pay, connect, and travel), in the physical as well as digital space with secured identities.

Also Read: How the son of a humble watch repairer became the owner of a multi-million dollar realty tech startup

IDEMIA’s ‘Gen 3.0’ platform is the one that is being expanded on the collaboration with strategic border customers in the Asia Pacific region. The Gen 3.0 platform is built on IDEMIA’s technology in contactless biometrics: a scalable and industrial biometric engine and on the move to contactless sensors for Face, Iris and Fingerprint recognition.

The growing organization is driven by the adaptation of the Gen 3.0 Border & Airport platform for the local market with a portfolio of solutions for a seamless traveller experience across the whole Border and Airport process.

The suite includes an innovative walkthrough eGate, designed for the free flow of passengers while guaranteeing they are seen, recognised, and cleared by authorities.

It also seeks to alleviate some of the pressures on authorities where most legitimate travellers will be processed in self-service and Officers will intervene by exception, being empowered by mobile-based business applications allowing Officers to operate while roaming the airport floor.

Trendlines’ venture fund Trendlines Agrifood raises US$22M investment from Temasek, Librae Holdings [The Business Times]

The startup incubator Trendlines Group has received conditional commitments of up to US$22 million for its new Singapore-based venture fund, Trendlines Agrifood.

The conditional investment commitments were made by Temasek and Librae Holdings, an entity related to UK business tycoon Vincent Tchenguiz, with an additional Southeast Asian investor, it said. Its wholly-owned subsidiary, Trendlines Agrifood Innovation Centre, will act as the fund’s manager.

The fund will invest in new, innovation-based agrifood tech companies in Singapore as well as foreign agrifood firms. It will set up its Asia-Pacific headquarters in Singapore.

Personal care company Wipro Consumer Care & Lighting launches venture fund, looking to invest in startups [Press Release]

Wipro Consumer Care and Lighting (Wipro Consumer Care), a Singapore-based multinational Personal Care company, launches venture fund, Wipro Consumer Care – Ventures, looking to invest in innovative consumer brand startups in Southeast Asia and India.

Wipro Consumer Care’s new initiative aims to establish partnerships with consumer businesses that have unique customer offerings and e-commerce expertise, enabling both businesses to leverage their respective strengths for growth

Wipro Consumer Care – Ventures aim to invest in new-age startups throughout Asia that adopt innovative approaches to digital and e-commerce to reach consumers. It said it will invest in businesses with strong entrepreneurial leadership and sound business models complementing its existing portfolio of brands in the personal care, skincare, home care, and lighting categories.

Cleantech startup Eavor receives US$11M Series A round of funding from Vickers Venture Partners [Press Release]

Vickers Venture Partners today announced their investment in Eavor, a solution provider in the geothermal based in Canada. The investment is Vickers’ first-ever in a Canadian startup and closes Eavor’s US$11 million Series A investment round.

The company said the funds will be used to pursue Eavor’s growing pipeline of commercial opportunities around the world.

Also Read: PropertyGuru raises US$144M from KKR

Eavor is a viable form of green, scalable, and baseload power, which aims to be a significant global energy source without the intermittency issues of traditional renewable power systems.

Eavor-Loop, the company’s solution, is a new means of extracting power from the earth’s natural geological temperature gradient. Eavor-Loop makes a traditional niche energy
source, geothermal energy, scalable by removing the need for volcanic-type temperature and permeable aquifers.

2019 PropertyGuru Myanmar Property Awards makes iMyanmarHouse.com its official partner [Press Release]

The PropertyGuru Asia Property Awards 2019 is extending its partnership with Myanmar’s property website, iMyanmarHouse.com, in an effort to solidify its foothold in one of Southeast Asia’s frontier markets.

It chooses iMyanmarHouse.com as the Official Portal Partner of the 2019 PropertyGuru Myanmar Property Awards. The fifth edition of the awards will be held on October 18 at The Sule Shangri-La Hotel in Yangon, the event’s official hotel.

PropertyGuru’s partnership with iMyanmarHouse.com allows the award-giving body to add more value and visibility to those developers and projects judged to be worthy international accolades. iMyanmarHouse.com will facilitate the exemplary, commendable developers, and projects in the Asia Property Awards, which embodies the appeal of Myanmar real estate.

As part of the partnership with iMyanmarHouse.com, winners of the PropertyGuru Myanmar Property Awards will be showcased in a special online section—providing a reference for property seekers and investors alike.

The post Today’s top tech news: Singapore’s Grab faces anti-monopoly investigation from Malaysia appeared first on e27.