Temasek to invest US$740M deep-tech firms a year
Some of the industries that it will focus on include advanced manufacturing, disruptive materials, net-zero tech, life sciences, and foodtech; The government earlier pumped US$222M into the Startup SG Equity scheme specifically for deep-tech firms.
Carousell acquires Ox Street to double down on its re-commerce efforts in Greater SEA
Carousell intends to deepen Ox Street’s reach and scale to become a fashion and luxury goods market leader; Ox Street is an online marketplace for authenticated sneakers and streetwear and focuses on the 85M Gen Z and Y consumers in the region.
Why Vertex Holdings CEO is optimistic about the VC industry in SEA
With higher valuations, VCs may overpay slightly, but the returns will come back if it’s the right tech and right people; While VCs in Southeast Asia are just counting IPOs by the fingers now, the IPO bell should be ringing every day at some point in the future, says CEO Chua Kee Lock.
Singapore’s Coda Payments buys BAASH to further expand its gaming goods and solutions
BAASH allows users to create e-sports events, compete in contests, and discover a community of like-minded gaming fans; They include Codashop, a marketplace for digital game content, and Codashop Global Series, a free-for-all community e-sports tournament.
US-based Bow Wave Capital makes another close of PH-focused fund at US$68.6M
ASP Philippines participated in the US$175M funding round of local payment app Mynt in January; The deal was in line with the fund’s mandate to invest in global online and mobile payment ecosystem companies; Last month, Bow Wave invested in Thailand’s digital payment company Ascend Money.
Malaysian F&B and retail tech solutions firm eatcosys raises US$2.4M via Fundnel
Over 90 investors from the retail, financial services and consumer sectors participated; eatcosys provides an integrated platform that works across three fundamental verticals: platform services, tech-enabled services, and fintech.
GoCement nets funding to address problems plaguing Indonesia’s construction industry using tech
Investors are Arise (a JV between MDI Ventures and Finch Capital), Beenext, and Ideosource; GoCement digitises the construction industry by creating a marketplace that utilises its decentralised building material distribution through cloud manufacturing.
How EngageRocket co-founders built a sustainable partnership
Finding a co-founder that shares your vision is a big challenge, but making the relationship work in the long run is a bigger one; Even if you’re one of the lucky few, who have found a co-founder that shares your vision and ambitions, sustaining this partnership for 1, 5, and 20 years down the road will pose a new set of dynamics to navigate.
Bangladesh Angels Network pumps US$1m in textile waste recycler Reverse Resources.
The SaaS platform maps, matches, and traces waste from textile factories, then helps fashion brands recycle them to achieve full circularity; Reverse Resources is working with 43 factories, 8 textile-to-textile recyclers, and has signed a contract with a global fashion brand to onboard the retailer’s first 100 factories.
SEA fintech opportunity pushes startup valuations further up
Despite currently lagging behind more developed markets like Australia, the US and the UK, the region is set to leapfrog in digital infrastructure and will see a slew of fintech-only unicorns being birthed within the next decade, says Golden Gate Ventures.
How startups can foster resilience and break barriers
With the unpredictability of markets and the ever-changing trends, startups that are not agile and resilient enough to adapt will eventually get left behind; Moreover, startups have to rise above challenges and realise their business goals in order to achieve long-term business sustainability and ultimately break barriers in the industry.
How Singapore is nurturing innovative startups
Enterprise Singapore (ESG), an agency under the Ministry of Trade and Industry, has been working to make it easier for startups to enter local and international markets raise funding and nurture talent; ESG is working with institutes like NUS to inculcate a sense of resilience among students at an early stage.
5 promising social commerce startups in Indonesia
The Indonesian social commerce scene is booming because its citizens are very active on social media; On average, they spend twice as long accessing the internet as Americans. However, there are still challenges when it comes to promoting goods and transacting on public platforms.
Singapore JV to offer green solutions to SMEs
CO2X is a JV formed by Singapore-based tech firms STACS, Ascent, and Evercomm; The JV will develop a platform that will provide local SMEs with accessible carbon tracking solutions and green financial services through a data-driven approach.
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Image Credit: Temasek
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