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Li said many experienced personnel had been moved into the new team early this year, adding that the company is confident it will make significant progress in the overseas market this year. billion) in 2024, dragging its shares on the Nasdaq down more than 4% as of market close on March 14.
With Grab’s announcement of its imminent Nasdaq listing and GoJek merging with Tokopedia to form tech giant GoTo , casual international observers could be forgiven for believing that Southeast Asia’stech universe only comprises similar companies. Southeast Asia is hitting a sweet spot.
This is good news for payment service operators, but the market is very fragmented, so adding payment options is a time-consuming process for many merchants. “CHAI is a late comer to Korea’s digital payments market, but we saw a unique opportunity to offer value,” said Shin.
HR tech platform Darwinbox has more than tripled its valuation to become a unicorn in a new $72 million funding round as the Indian startup leads what an investor calls the “SaaSification of Asia” trend. I am a strong believer in the SaaSification of Asia. You may ask why SaaS for Asia needs to even exist as a category.
The round was led by Asia Partners, with participation from Novo Holdings, Philips and OSK-SBI Partners. As part of the round, Asia Partners co-founder Oliver Rippel and Novo Holdings Equity Asia senior partner Dr. Amit Kakar will join Doctor Anywhere’s board of directors. million USD) in Series C funding.
The firm’s comprehensive “Southeast Asia Exit Landscape Report 2.0,” is a followup to a previous report published in 2019. Despite the pandemic’s economic impact, tech proved to be resilient globally (for example, there were a number of initial public offers in the United States at record prices).
Mental health startup Intellect ’s ambitious goal is to be available across the Asia-Pacific, but ensure localized, culturally-competent care in each of the many markets it serves. Intellect describes this as “the largest venture round raised by any mental health company in Asia.” Intellect’s platform has two components.
Undergirding their strong conviction is a bet that India and Indonesia and other markets in South Asia will double and triple their GDPs in the next 10 to 15 years, and the public markets and tech companies stand to take a significantly broader role in that surge. So what’s with the change of heart?
Darwinbox, which operates a cloud-based human resource management platform, has raised $15 million in a new financing round as the Indian startup looks to further expand in the country and Southeast Asian markets. This is one of Salesforce Ventures’ rare investments in Asia. Image Credits: Darwinbox.
Tech layoffs have hit almost every region in the world , and Southeast Asia is no exception , with companies like Sea , Crypto.com and JD.ID I think what we have seen is that there has been a lot of capital being pumped into the tech industry over the past two to three years in a major bull run. among those affected.
However , there’s little noise about the corridors between Africa and other regions like Latin America or Asia. Wapi Pay , a Kenyan startup with offices in China and Singapore, is carrying out this play and has carved a market for itself by facilitating payments between both extreme remittance worlds of Africa and Asia.
Igloo , a Singapore-based insurtech focused on underserved communities in Southeast Asia, announced it has raised a Series B extension of $27 million, bringing the round’s total to $46 million. Igloo currently works with 20 global, regional and local insurers across Southeast Asia.
Based in Singapore, it is currently active there and in Indonesia, and plans to roll out in other Southeast Asian markets after localizing for employment regulations. Localizing for each market can be quite complicated. Indonesia is one of the biggest, and rapidly growing, market opportunities in Southeast 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. 15) Little Market :: thelittlemarket.com. 30) UNICEF Market :: market.unicefusa.org. 4) Art Institute of Chicago Museum Shop :: shop.artic.edu.
Singapore-based TreeDots , which says it is the first food surplus marketplace in Asia, wants to help. In Asia specifically, TreeDots’ team says this is usually because of inefficient supply chains or aesthetically “imperfect” foods. The startup says its gross merchandise volume (GMV) has grown more than 4x year-over-year.
V2Food is one of many new contenders in the alternative protein space, founded in Australia but now setting its sights on Europe, Asia and beyond. The company has seen strong uptake in its home market, and the first goal is to be No. The company has seen strong uptake in its home market, and the first goal is to be No.
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. Its APIs are cover two categories: open banking APIs and payment services APIs, with the goal of building the most complete open finance stack in Southeast Asia.
WritePath make the process faster and scalable by combining its AI tech with human translators. WritePath’s previous investors include byUDN.com, a subsidiary of United Daily, one of the largest media organization in Taiwan, and Singaporean translation firm Elite Asia. WritePath’s team.
Seoul’s startup ecosystem is set to take on the tech world. In terms of IPOs, while most markets across the world have taken a hit during the pandemic, Seoul’s burgeoning biotech scene has helped position the city as a leader.
Two years ago, the African tech ecosystem saw newfound attention from global players that translated to the continent’s best year of receiving venture capital. From varying sources, it is estimated up to $2 billion went into African tech startups in 2019. AfricArena, a tech ecosystem accelerator, pegged deals to close between $2.25
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. 24) UNICEF Market :: market.unicefusa.org. 4) Art Institute of Chicago Museum Shop :: shop.artic.edu. 9) Global Goods Partners :: globalgoodspartners.org.
News that the Chinese government intended to crack down further on the education technology market hit shares of public, China-based edtech companies. Then over the weekend, the rumors became reality, and the impact is still being felt today in the global markets. The Exchange explores startups, markets and money. It was a mess.
The rest of Asia has risen in importance If I were starting a tech website in 2011, I would probably have wanted to hire someone in Japan, which was at the time the undisputed home of gadgets — floating bathtub TVs, widespread NFC use, robot dogs, and so on. Overall, it’s been a heck of a decade to cover technology in Asia.
Mikal is an early-stage investor at Wavemaker Partners investing in startups across North America, MENA and Asia and author of the newsletter Emergent , analyzing one fast-growing startup in an emerging market every week. Share on Twitter. Image Credits: Mikal Khoso. Unlocking Pakistan’s potential.
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.
During that time, Chen says they realized that the marketing, sales and design process have stayed the same, despite new technology and tools being introduced to the market, and is often riddled with bottlenecks. Chen says most have large sales and marketing teams, but a shortage of designers.
Beam , a Singaporean shared micromobility operator, announced today that it has raised $93 million in a Series B round to accelerate growth into new countries in Asia. Advanced rider assistance systems: Tech spawned by the politics of micromobility.
The tech boom in Southeast Asia isn’t just seeding a wave of new entrepreneurs building the next generation of unicorns, it’s also ushering young talent into the roles of first-time managers. NewCampus targets companies that have a presence of between 500 to 1,000 people in the Southeast Asia region. Image Credits: NewCampus.
The company offers a complete spectrum of e-commerce support services for direct-to-consumer (D2C) brands, from making a website, setting up a payment system, and managing marketing to handling shipping, warehousing, and logistics. The startup looks to challenge e-commerce players like Shopify in Southeast Asia. “I
The digital asset space is still trucking along, while there were some big headlines, the week was arguably a little less chaotic (for now). Check out what caught our attention below. Here are some articles on TechCrunch that caught our attention this week.
Now it’s set a goal of investing in 100 more startups with the launch of its second emerging market seed-stage fund, called Seedstars International Ventures II (SIV), with a first close of $20 million. We’re really looking to diversify holdings, leveraging learnings from one market to another,” said Sosrodjojo.
The startup market is having a moment around the world, but few regions can brag as much as Europe when it comes to venture capital investment. The Exchange explores startups, markets and money. Let’s explore what data says about the first half of 2021 in Europe’s startup market, and what its in-crowd expects for the rest of the year.
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. Coherent will focus on China and emerging markets in Asia.
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 Asian tech companies are drawing the attention of investors around the world. This begs the question: Who exactly is investing in Southeast Asia? and Chinese tech firms.
Aldagram , a startup out of Japan developing project management software for construction companies, has picked up a new strategic backer to help it build out its footprint across Asia and the Middle East. The global construction management software market is expected to reach $23.9 billion in 2031, up from $9.3
Shippit , a Sydney, Australia-based e-commerce logistics platform, will expand in Southeast Asia after closing a $30 million AUD (about $22.2 E-commerce in the Asia-Pacific was already growing quickly before the pandemic hit, with Forrester forecasting online retail sales in the region to grow from $1.5 trillion in 2019 to $2.5
Africa Health Holdings , a healthcare startup running several hospitals, has secured $18 million in a Series A round, funds that will go toward building its “tech-forward healthcare system” across Ghana, Kenya and Nigeria. Valiant Capital, Kepple Ventures and SUNU Capital.
million to scale across existing markets and improve its technology. Despite the company’s innovation, funding has been few and far between, as with many deep tech platforms with a significant focus on Africa. Alonge sees RxAll as a pioneer in the world of deep tech mixed with health tech. Today, the U.S.
and Asia, and to double down on building more AI-based technology to expand its platform. Growfin is tapping into a ripe market, not least because of the current economic climate and the pressures that it is putting on businesses of all sizes. where most of its clients are based, as well as in Asia. million Series A.
Glints co-founder and chief executive officer Oswald Yeo said this is the largest funding round to date for a talent platform in Southeast Asia, and brings the startup’s total raised to $33 million. CakeResume, which wants to become Asia’s largest tech talent pool, raises $900,000 seed round.
This is part of a strategic investment, with startup and MUFG planning to expand into new markets and product together in 2023. As part of MUFG’s strategic investment, Akulaku has agreed to work with MUFG companies in Southeast on tech, product development, financing and distribution.
It also included returning investors Mirae-Asset Naver Asia Growth Fund and Z Venture Capital. Resurgent HappyFresh raises $20M for its online grocery service in Southeast Asia. Founded in 2014, HappyFresh was the first Instacart-style grocery delivery service to launch in Southeast Asia. What grocery startup Weee!
Could African tech be immune to the global funding slowdown ? Asia and Latin America. billion of VC funding went into African tech in Q1 2022. The discrepancy between these different counts is fairly easy to explain: CB Insights bases itself on HQ location, regardless of a startup’s main markets.
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