Sunday team

Thai insurtech Sunday raises US$48M
Investors include HuangPu River capital (lead), Aflac Ventures, ZVC, SCB10X, and Vertex Ventures; Sunday uses AI and digital platforms to offer personalised insurance products; Its prediction algorithms powers its premium pricing and recommendation engines for health and motor coverages.

Indonesian logistics major J&T Express mulls shifting IPO from US to Hong Kong
The plan comes as companies with interests in China and looking to list overseas face intensifying scrutiny from regulators in Beijing; While J&T Express is based in Jakarta, the company is backed by several Chinese investors and has significant operations in China.

Finnoventure Fund I backs growth of local tech startups
The fund owned by Krungsri Finnovate is set at US$92M with a 10-year maturity, with investment focused on Series A; Investment is scheduled to begin in November this year; There are more than 10 local tech startups in the pipeline for investment.

Indonesia’s AwanTunai raised US$56.2M Series A2
Investors include Insignia, Global Brains, BRI Ventures, and Atlas Pacific Capital; Working with wholesalers, AwanTunai serves underserved micro-SMEs with inventory ordering, digital payments, and low-cost inventory purchase financing.

Asia-focused SPAC Kairous Acquisition files for US$50M US IPO
The blank-cheque company is run by Joseph Lee, founder of Malaysian PE and VC firm Kairous Capital; The SPAC intends to primarily focus on fast-growing tech firms in different industry verticals, including e-commerce, fintech, insurtech, and digital media.

Thai construction-tech startup Builk One Group raises Series B+, aims for IPO in 2022
Investors are SCG, Krungsri Finnovate, and BCH Ventures; Builk helps companies digitise their construction projects through business management services and online construction material trading platforms.

Momos rakes in US$6.5M financing to grow its F&B SaaS platform beyond Singapore
Investors include Sequoia India, Alpha Wave, K3 Ventures, Captii Ventures, and HOF Capital; Momos helps restaurants in Singapore maximise revenue and growth through its marketing, reviews, and analytics platform.

Mobile, e-sports, live streaming shaping SEA’s gaming startup landscape in 2021
Pandemic-fuelled behavioural shift and technological advancements are urging studios to transform their monetisation strategies, promotion plans, and gaming design; Social gaming has emerged as a notable trend that drives the explosive growth of e-sports.

Indonesia-based BNPL provider Kredivo expands into Vietnam ahead of US listing
Kredivo Vietnam Joint Stock Company will partner with local financial firm VietCredit Joint Stock Company; Initially, Kredivo will only roll out its bill payment and personal loan features in Vietnam before the expected launch of its BNPL service for ecommerce payment in the final quarter of this year.

MDEC launches 2021 #SMART Automation Grant (SAG) in Malaysia
The grant works to help kickstart the development and implementation of projects that adopt technology to automate business operations; Each successful applicant will receive up to 50% of the total project cost, subject to a ceiling limit of US$48K (or whichever lower).

ScaleUp Malaysia, Technology Park Malaysia in strategic public-private tie-up to strengthen startup ecosystem
The partnership will provide startups better access to government resources that include labs, infrastructure and other facilities, as well as regulatory facilitation to advance innovation; This also opens up the door for the scaleups to receive support from the private sector’s networks, expertise and capital.

MDEC, Draper Startup House to host Founders Grindstone Bootcamp
The bootcamp serves as an avenue for Malaysian-based tech entrepreneurs to connect with global and local investors, and potentially raise some funds; Participants will also gain access to one-on-one mentoring from the programme’s investor partners and mentors.

APAC is pulling ahead in IoT and 5G investments
By 2025, 23% of mobile connections in the APAC region will be on 5G networks; Nine markets have already launched, while 12 others are planning to do so; Singapore, Japan and South Korea are some of the countries already using mobile 5G services.

WeWork launches on-demand mobile app in Singapore
WeWork On Demand is the startup’s pay-as-you-go offering to access workspace and meeting rooms; It allows users to book workspace and meeting rooms through its iPhone and Android apps; The international expansion follows strong growth and positive user feedback in North America.

The post Ecosystem Roundup: AwanTunai bags US$56.2M, J&T Express mulls shifting IPO from US to HK, Sunday raises US$48M appeared first on e27.



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