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Indonesia-based insurtech startup Fuse announced today it has secured $25 million of Series B extension round as it plans to enter more countries including Thailand and Vietnam in Southeast Asia. The pandemic accelerated the digital transformation in the insurance industry, one of the most conservative sectors.
Pharmacies in Southeast Asia were largely fragmented, mom-and-pop shops operating in silos when the company — originally known as mClinica — was incorporated in Singapore in 2014. Certainly, SwipeRx — which raised $6.3 million in Series A funding in 2017 — has the kind of momentum that investors like. ”
In Western markets, freight forwarders are well into digitizing their operations, but the same doesn’t hold true in Southeast Asia, say the founders of Fr8Labs. The reasons for that include the lack of localized software and a more fragmented logistics industry where SMBs dominate.
Amit Anand is a founding partner of Jungle Ventures and an early pioneer and leader in the development of Southeast Asia’s venture capital industry. Southeast Asia is hitting a sweet spot. Amit Anand. Contributor. Share on Twitter. However, these companies only represent the highlights of what is a blossoming startup ecosystem.
The funding will be used on Profet AI’s expansion in Japan, Southeast Asia and China, with plans to sign joint ventures with overseas partners. Profet AI’s software lets users build prediction models and industrial AI apps for production and digitalization, even if they only have basic knowledge of machine learning.
Amit Anand is a founding partner of Jungle Ventures and an early pioneer and leader in the development of Southeast Asia’s venture capital industry. This begs the question: Who exactly is investing in Southeast Asia? Southeast Asia has become an attractive market for U.S. Amit Anand. Contributor. Share on Twitter.
H2O Hospitality will expand its business further by adding various types of accommodations in South Korea and Japan in 2021 and 2022 and plans to enter Singapore and Indonesia in 4Q in 2022 in line with its Southeast Asia penetration strategy, according to H2O Hospitality co-founder and CEO John Lee. There are currently about 16.4
The startup, which develops software-as-a-service solutions for the logistics and supply chain industry, has raised $6.5 Other products include Mobility Software-as-a-Service to digitize vehicles for real-time tracking, solutions for improving business efficiency and an open API ecosystem. McEasy wants to change that.
Focused on Southeast Asia, Ayoconnect ’s APIs make it faster for businesses to launch new financial services, instead of needing to build their own tech infrastructure. After leaving Lazada, he spent several years living in Indonesia, where he saw how the country could benefit from more digital financial inclusion.
Founded by two insurance industry veterans, Eazy Digital wants to give small insurance companies in Southeast Asia the same advantage as their larger competitors. Its SaaS platform lets insurers digitize many parts of their operations, enabling them to scale up more efficiently.
The firm’s comprehensive “Southeast Asia Exit Landscape Report 2.0,” is a followup to a previous report published in 2019. There was a lot of pickup on the digital healthcare side as well.”. Southeast Asia’s startup ecosystem was not immune, and had less exits, but it still did relatively well, with $8.2
According to the World Bank, more than one billion people in South and East Asia lack access to a bank account. The funding will be used to enter other Southeast Asian markets, including Indonesia and the Philippines, and introduce new products, like free credit score and insurance offers, digital discount coupons and mobile wallet cashbacks.
Forto , a digital freight forwarder which has experienced a boom during the pandemic, has raised another $50 million in funding. It also will be expanding its European and Asian operations following the recent opening of a Singapore office and the extension of its operational presence to five offices in Asia.
3) Animals Asia Shop :: shop.animalsasia.org. Proceeds benefit Animals Asia work to end bear bile farming and improving the welfare of animals in China and Vietnam. The Electronic Frontier Foundation is the leading nonprofit organization defending civil liberties in the digital world. Perfect gifts for the nonprofit techie!
Backed by investors including the Bill and Melinda Gates Foundation and CDC Group, Cropin is set on digitizing the agricultural industry. Founded in 2010, Cropin’s other products are live in 92 countries, it is partnered with over 250 B2B customers and has digitized 26 million acres of farmland.
The software enables HR teams to digitize employee records, automate administrative tasks like employee onboarding and time-off management, and integrate employee data from different systems. He added that “Singapore is possible the most mature market in Southeast AsiaAsia in terms of software/cloud adoption and willingness to spend.
Easy Eat AI offers an operating system for restaurants that lets them digitize all parts of their business, from inventory and customer orders to delivery, and gain AI-based data analytics to improve revenue. Many food and beverage businesses started digitizing orders and payments so they could offer deliveries during the COVID-19 pandemic.
New outbreaks of COVID-19 in Asia could create delays in the global supply chain and exacerbate the global semiconductor shortage, according to a new report from The Wall Street Journal. Starting on May 10, COVID-19 infections jumped from one to three-digit figures within a matter of days,” South China Morning Post reported.
ZEBOX , an international accelerator network founded by shipping conglomerate CMA CGM to introduce more tech innovation into the supply chain industry, announced today the launch of its APAC headquarters. Based in Singapore, ZEBOX Asia will also look at markets like Indonesia, Malaysia, Taiwan, Japan and Korea.
With an eye on reversing that trend, they created Monterrey-based Parrot in April 2020, and in 2021 launched with ParrotConnect, its point-of-sale software for restaurants enabling them to digitize and take advantage of the home delivery boom to accelerate growth. We admire the industry and how creative they are to make things work.
Based in Hong Kong, Coherent helps insurance providers go digital. The Series A round, led by Cathay Innovation with participation from Franklin Templeton, will be used to grow Coherent’s client base in Asia, including insurers who want to add more digital services to their usual sales processes because of the pandemic.
The company wants to focus on the Indonesian market, one of the largest markets in Southeast Asia, for the next 12 months, then expand to other Southeast Asian countries, such as Malaysia, Vietnam, Thailand and the Philippines, Bang told TechCrunch. The startup looks to challenge e-commerce players like Shopify in Southeast Asia. “I
Osome , a Singapore-headquartered business assistant app that digitizes accounting and compliance tasks, has raised $3 million. Osome’s digital business assistant. “We found ourselves in a very stable industry,” he added. Osome’s founding team, Anton Roslov, Victor Lysenko and Konstantin Lange.
The shortage of everything from advanced chips to the lowly $1 display driver chips that power almost every digital device we use has caused a great deal of grief in the tech and auto industries. It looks like it's about to get worse as Covid-19 infections are threatening production of.
million in seed funding, money it plans to use for expansion across South Asia, Southeast Asia and the MENA region. . CEO Aahan Bhojani and Ashmin Varma founded Silkhaus last year after identifying a $13 billion market opportunity for asset owners across emerging markets, particularly MENA, South Asia and Southeast Asia.
million in a pre-Series A round, to tap the opportunities in emerging markets, where digital lending apps have recently sprung up in droves. The startup is currently working with 30 credit institutions, including digital lenders, micro-finance institutions and banks. million, having realized $800,000 in a seed round last May.
As the industry grapples with the larger questions of how to create viable solid-state batteries or commercialize robotaxi service , the companies listed here are focused on the incremental steps toward a fully autonomous future. The year also saw the companys rapid expansion across Asia and into Mexico, South America, Europe, and Australia.
Founded in 2016, viAct currently serves more than 30 construction industry clients in Asia and Europe. trillion-dollar industry. The viAct team has not only created a product that drives value for the industry but has also been able to earn the trust of their customers and accelerate adoption.”
The AI industry hit a significant bend in the road toward artificial general intelligence in 2024. And all the while a small AI lab in China was quietly developing new AI models, including reasoning models, that would begin sending shockwaves through the AI industry by the end of 2024. The rest of the industry has followed its lead.
Indonesia’s logistics industry is very fragmented , with several large providers operating alongside thousands of smaller companies. Its platform digitizes the process of ordering, managing and tracking trucks. This means shippers often have to work with a variety of carriers, driving up costs and making supply chains harder to manage.
By digitalizing the insurance work for insurers and intermediaries, its platform enables them to save time, focus on their clients and scale their business. . trillion general insurance industry. . trillion general insurance industry. . The company has raised a $1 million seed round to enhance its platform and scale in Asia.
TNGlobal is excited to announce the ORIGIN: Asia Tech Conference , themed Unleashing Potential, Reimagine Future to be held on May 23, 2024, at The Venetian Macao Convention and Exhibition Center, Florence Meeting Room.
Amit Anand is a founding partner of Jungle Ventures and an early pioneer and leader in the development of Southeast Asia’s venture capital industry. Predicting the next wave of Southeast Asia tech giants. trillion industry by 2025 , with the biggest gains being made in Brazil and India. More posts by this contributor.
There’s a new entrant in Southeast Asia’s growing list of unicorns. Jakarta-based Xendit , best known for its digital payment infrastructure but also focused on other financial products, announced today it has raised $150 million in Series C funding, bumping its valuation to $1 billion. But since then, it’s expanded its scope.
CrediBook , a startup that helps Indonesian retail wholesalers digitize the financial side of their operations, has raised $1.5 Founded in February 2020, CrediBook is part of a wave of startups focused on digitizing small- to medium-sized businesses in Indonesia. Moka and Jurnal , meanwhile, are used by larger companies.
The logistics industry in Indonesia is highly fragmented , which means higher costs for businesses. Other notable startups in the space include Kargo, founded by a former Uber Asia executive, and Waresix. ” SiCepat claims to be profitable already and that it was able to fulfill more than 1.4 million packages per day in 2020.
Last month, for example, her team co-led an investment in Virtually Human Studio , the startup behind a digital horse racing service Zed Run, wherein users buy, sell and breed virtual horses whose value rises depending on their performance against other virtual horses. How did you first come across this digital horse racing business?
This trend has been circling around the restaurant industry. A Manila-headquartered startup called CloudEats , which operates cloud kitchens across the Philippines and Vietnam, just raised a $7 million Series A extension led by Nordstar to accelerate the digitization of food service in Southeast Asia. . billion in 2021.
Dat Bike , a Vietnamese startup with ambitions to become the top electric motorbike company in Southeast Asia, has raised $2.6 These guys are competing with each other to put the emerging middle class of Vietnam on the digital financial market for the first time ever and as a result, we get a very favorable rate,” he said.
GoTo Group is creating synergies with Gojek, Tokopedia and Goto Financial brands across transport, e-commerce, food and grocery delivery, logistics and financial service industries. Goto Group, the largest technology group in the Southeast Asia nation, is preparing for a dual listing in New York and Jakarta later this year. .
UTEC currently has about $780 million in total assets under management, and says this makes it one of the largest venture capital funds focused on science and tech in Japan, and one of the largest deep-tech funds in Asia. UTEC is an independent firm that works closely with universities. So far, 25 of its investments have exited.
Several firms in Asia are taking a similar approach today, sifting through people’s social media profiles and telco records. Hakobyan said this kind of research requires high accuracy, and some industry practices raise privacy concerns. Bizbaz has different templates based on countries and industries.
Open , which recently received backing from Google and Temasek , operates an SME banking platform and also provides banks with infrastructure to launch their own digital banks. Open currently has partnerships with 14 banks in India and a few more in Southeast Asia.
Its features include digital checklists, inventory management and field audits that can be accessed through a mobile app. Most of Nimbly’s users are in the retail or food and beverage industries, and include KFC, Kopi Kenangan, 7-Eleven and Under Armour. Based in Singapore, Nimbly develops software that automates more of that process.
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