How millennials and the pandemic are driving the growth of cloud kitchens in Indonesia
The country started seeing some interest in cloud kitchens in late 2018, and it became a full-blown topic in 2019, and now the pandemic is accelerating it; Now there are quite a few players, such as GrabKitchen, GoFood, Hangry, Yummy Corp., and Everplate, among others.
AppWorks closes US$150M fund III
Investors include Taiwan Mobile, Axiom Asia Private Capital, Fubon Life, TransGlobe Life, Hongtai Wistron, and Cathay Life; The fund is in the process of constructing a portfolio of roughly 40 deals, including 20 investments starting at US$2M in Series A-C companies and 20 seed-stage investments.
GIC invested an additional US$94M into Bukalapak before its IPO
The transaction, which was done through GIC’s subsidiary Archipelago Investment, increased GIC’s stake in Bukalapak to 11% from 9.45% earlier; In April, GIC, Microsoft and Emtek co-led the US$234M fundraise of Bukalapak.
Pintu adds US$35M to its Series A kitty, aims to build Indonesia’s ‘largest crypto exchange’
Investors include Lightspeed (lead), Alameda Ventures, Blockchain.com Ventures, and Castle Island Ventures; The platform currently supports 16 different dynamic cryptocurrencies for trading and intends to add more coins such as NFT tokens.
Tiki raises US$20M Series E from Taiwan Mobile
The transaction values the e-commerce firm at US$740M; As per a DealStreetAsia report, Tiki has secured US$94M in Series E this month alone; The firm is also mulling an overseas listing to secure additional capital.
Ex-Zalora CEO’s delivery experience platform for e-commerce businesses Parcel Perform lands US$20M
Investors are Cambridge Capital (lead), SoftBank Ventures Asia, Wavemaker and Investible; Parcel Perform enables modern e-commerce enterprises to optimise logistics operations with data integrations, parcel tracking, delivery notifications and logistics performance reports in real-time.
Synqa acquires SaaS platform for event creators Eventpop in an “8-digit USD” deal
According to a well-placed source, early-stage investors got more than 5x returns, and the late-stage investors also got some returns; EventPop is backed by the likes of KK Fund and InVent.
Fuse closes Series B in a GGV Capital-led round to grow its insurtech platform beyond Indonesia
Investors include GGV Capital (lead), EV Growth, Golden Gate Ventures, and Emtek; According to a DealStreetAsia report of June, Fuse raised US$30M in this round; Fuse has partnerships with more than 30 insurance companies, 300 insurance products, and 50K+ agent partners on its platform.
27 Singapore tech startups that have made us proud this year
These achievements and milestones range from securing unicorn status, confirming plans to go public, and raising more than US$15 million in a single funding round.
Singapore-based Mighty Jaxx raises US$10M
Investors include Aceville of Tencent Cloud and KB Investment; Mighty Jaxx designs and manufacture collectibles and lifestyle products in partnership with global brands such as Hasbro, Cartoon Network, and Warner Brothers; It claims to have shipped millions of products to collectors in 60+ countries.
Fintech startup AwanTunai secures US$11.2M
Investors include Insignia, BRI Ventures, and OCBC NISP Ventura; AwanTunai is a POS financing solution aimed at digitising Indonesia’s vast economy; It offers services including affordable inventory purchase financing, integrated online ordering, and inventory management to wholesalers and micro-merchants.
Vietnamese paediatric chain Nhi Dong 315 completes Series A
Investors are BDA Capital, Thien Viet Securities, and Qatalyst Ventures; Nhi Dong 315 operates a hybrid model integrating its app into the brick-and-mortar system; The firm currently operates 14 paediatric clinics in HCMC.
Indonesian payments solution Durianpay raises US$2M
Investors include Sequoia India’s Surge (lead), AC Ventures, Kenangan investment fund and angels; Durianpay is an end-to-end payments provider that enables businesses to grow and scale through a one-stop solution for frictionless checkout and easy-to-integrate modern APIs and dashboard.
500 Startups rebrands its SEA-focused 500 Durians fund
Called ‘500 Southeast Asia’, the VC firm will continue to focus on seed-stage investing, offering up to US$500K to founders; It is also now open to provide follow-up funding up to US$5M and to potential investments via special purpose vehicles.
Singapore-based VC firm Antler launches in South Korea
The company is looking to invest in 100 startups over four years from its new office in Seoul; The operations will be led by new partner Jiho Kang, who co-founded service marketplace Soomgo; Antler will begin investing in local startups early next year.
How Singapore is leading banking-as-a-service adoption globally
Singapore fintech scene is booming because the nation is embracing technology and trying to create digital solutions for its citizens; One such area is in open banking, whereby banks share customer data with third parties to allow customers or other financial institutions to access this information for various uses.
A close look at Singapore’s thriving startup ecosystem
As of 2019, Singapore had over US$19B in PE and VC AUM, more than twice that of neighbouring Indonesia, Philippines, Vietnam, Malaysia, and Thailand combined; In that same year, the country was home to an estimated 3,600 tech startups; Start-up Genome priced Singapore’s ecosystem at over US$25B, five times the global median.
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Image Credit: Bukalapak
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