Ninja Van raises US$578M in Series E
Investors include Geopost/DPDgroup, B Capital, Monk’s Hill Ventures, and Zamrud, Alibaba Group; Ninja Van’s end-to-end logistics network spans Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines, connecting over 1.5M active shippers with close to 100M recipients.
SCB sets up VC fund with Charoen Pokphand Group
The firms will manage the fund and each contributes US$100M; The fund will raise money from outside investors with a target of US$600-U$800M; It will invest in digital assets and emerging technologies.
Qxpress considering IPO in the US next year
The IPO could value the logistics company, owned by Qoo10, from US$500M to US$1B; Qxpress specialises in e-commerce logistics; In 2019, it raised US$50M in funding led by Crescendo Equity Partners.
Crypto asset management startup Cobo raises US$40M
Investors are DST Global, A&T Capital, and IMO Ventures; Cobo will use the funds to develop a DFaaS, as well as its current wallet as a service, trading, and staking as a service solutions.
P2P lender Investree said to be in talks to raise up to US$100M
The company expects to close it by the end of the year; It is betting big on its existing markets, namely Thailand and the Philippines, besides its home turn Indonesia; Last year, Investree secured US$24M in Series C led by BRI Ventures and MUFG Innovation Partners.
Vietnam’s data-driven loyalty platform Society Pass closes Series C, relaunches Leflair
Society Pass will use the funds to acquire new growing e-commerce brands in Vietnam, Indonesia and the Philippines, with several deals in the pipeline for 2021; Society Pass acquired Leflair in June this year after the luxury e-commerce brand filed for bankruptcy in 2020.
Vietnam’s retail giant Masan acquires mobile virtual network operator Mobicast for US$12.96M
Mobicast’s Reddi provides wireless communication services for young and modern customers through the mobile app platform without owning the cellular infrastructure.
Group-buying social commerce platform KitaBeli raises Series A+ round
Investors are Kopi Kenangan Capital, Banana Capital, and Meesho founders; This comes less than 6 months after Kitabeli raised US$10M series A, led by Go-Ventures in March.
Metaverse is around the corner and you should play a role in it
Virtual identity has become an extension of your physical identity and the metaverse is a natural evolution to that; Axie Infinity, Animoca Brands, or Fortnite are some prominent players bridging the gap between millions of people and the immersive digital experience of a future metaverse.
T-Lab raises US$1.6M in seed funding to strengthen R&D, enhance Chinese language curriculum
Investors are East Ventures (lead), K3 Ventures, Blue Elephant Capital, and Plug & Play; It leverages AI to optimise the e-learning experience for K-12 students, teachers, and parents; The AI gamification teaching aims to stimulate students’ interests and allows them to enjoy and engage with the courses.
E-grocery platform Sayurbox bags US$500K from Metrodata Electronics
Sayurbox had earlier raised Series B round led by Astra International; Metrodata is a well-known IT hardware and software distributor in Indonesia.
Ex-Gojek employees raise US$550K for home construction platform Kolo
Investors include Better Capital, Singularity Ventures, and former GoPay CEO Aldi Haryopratomo; Through its platform, Kolo connects homeowners and providers of construction services and materials for building projects; Users can also view design templates to inform their choices or look for specific products or professionals.
Flash Coffee mulls expansion into Philippines, Malaysia, and Vietnam in 2022
The tech-enabled coffee chain made the announcement after it officially launched in Hong Kong; This comes as the coffee chain has secured US$20M in Series A funding in April 2021, led by White Star Capital.
Alternative protein still underfunded to meet climate goals, experts say
Currently, animal proteins such as meat, dairy and eggs produced through livestock farming account for nearly a fifth of the world’s GHG emissions, more than all transportation combined.
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