Asean Tech Digest #64
Your curated summary of ongoing disruption in Southeast Asian tech. Subscribe here to receive it by email 💌
Hi SEA fans,
Last two weeks, in the news:
🏢 WeMaintain opens APAC HQ in Singapore, raises € 30m Series B
👩🎓 Coliving startup Cove launches SEA’s first student coliving space with Lippo Karawaci
🔬 HEC Paris signs landmark cooperation agreement with SMU
Just funded 💸
🇸🇬 Car marketplace startup Carro has raised a US$360m Series C from SoftBank Investment Advisers, EV Growth, Mitsui Sumitomo Insurance Company — TechCrunch
🇵🇭 Fintech startup PayMaya has raised a US$167m financing round from KKR, Tencent, IFC — TechCrunch
🇸🇬 Fintech startup Kredivo (Finaccel) has raised a US$100m debt financing round from Victory Park Capital — TechCrunch
🇸🇬 E-commerce enabler startup SCI Ecommerce has raised a US$65.4m financing round from Asia Partners — e27
🇮🇩 Insurtech startup FUSE has raised a US$30m Series B from EV Growth, Blue Pool Capital — Deal Street Asia
🇸🇬 Biotech startup Nuevocor has raised a US$24m Series A from Boehringer Ingelheim Venture Fund, EDBI, EVX Ventures, SEEDs Capital, Xora Innovation — The Business Times
🇸🇬 Corporate services provider startup Osome has raised a US$16m Series A from Target Global, AltaIR Capital, Phystech Ventures, S16VC — TechCrunch
🇸🇬 DeFi startup SynFutures has raised a US$14m Series A from Polychain Capital, Pantera Capital, Bybit, CMS Holdings LLC, Framework Ventures, IOSG, Kronos Fund, Wintermute — CoinDesk
🇸🇬 NFT minting startup Mintable has raised a US$13m Series A from Ripple, Animoca Brands, Metapurse — e27
🇸🇬 Blockchain Analytics startup Nansen has raised a US$12m Series A from Andreessen Horowitz(, Coinbase Ventures, imToken Ventures, Mechanism Capital, QCP Capital, Skyfall Ventures — TechCrunch
🇸🇬 HRtech startup Workmate has raised a US$10m debt financing round from Lendable — e27
🇸🇬 Wealth management startup Gotrade has raised a US$7m Seed from LocalGlobe, Y Combinator, Carlos Gonzalez-Cadenas, Frank Strauß, Joel Yarbrough, Matt Robinson, Picus Capital, Raptor Group, Social Leverage — TechCrunch
🇸🇬 Fintech startup BondEvalue has raised a US$6m Series A from MassMutual Ventures, Citigroup — Deal Street Asia
🇸🇬 Wealth management startup Endowus has raised a US$5.2m Series A+ from UBS, Samsung Ventures, Singtel Innov8 — e27
🇸🇬 Logistics startup Locad has raised a US$4.9m Seed from Surge, Antler, Febe Ventures, Foxmont, Global Founders Capital, Gokongwei Family, Hustle Fund — YourStory.com
🇵🇭 Play to Earn startup Yield Guild has raised a US$4m financing round from BITKRAFT Esports Ventures, A.Capital Ventures, Animoca Brands, Ascensive Assets, Atelier Ventures, Bitscale Capital, Carlos Rodriguez-Aspirichaga, Dennis Fong, Dialectic Capital Management, Fabric Ventures, Free Company Ventures, Greenfield One, IDEO CoLab Ventures, Jiho Zirlin, Mechanism Capital, ParaFi Capital, SevenX Ventures, Sfermion, Third Prime, Trung Nguyen — VentureBeat
🇸🇬 Decentralized Document Platform startup Dedoco has raised a US$2.45m Seed from Vertex Ventures — Dedoco
🇸🇬 Medtech startup Aevice Health has raised a US$2.1m Pre-Series A from Toho Holdings, Pureland Group Venture, Silicon Solutions Partners, AIP Ventures, SEEDS Capital — MobiHealthNews
🇻🇳 Wealth management startup Infina has raised a US$2m Seed from Saison Capital, 1982 Ventures, 500 Startups, Alex Tran, Ba Ha Truc, Dinh Anh Huan, Minh Cao, Neil MacGregor, Nextrans, Venturra Capital — TechCrunch
🇸🇬 Wealth management startup Hugo has raised a US$2m financing round from 1982 Ventures — e27
🇻🇳 Fintech startup MFast has raised a US$1.5m Series A from Do Ventures, JAFCO Investments Asia — TechCrunch
🇸🇬 Networking startup CoffeeMug has raised a US$0.63m Pre-Seed from Paradigm Shift Capital, AngelList, Aloke Bajpa, IIM, Indore, Yagnesh Sanghrajka — Entrepreneur
🇲🇾 Insurtech startup Oyen has raised a US$0.42m Seed from Hustle Fund — Vulcan Post
🇲🇾 Livestream startup Ulalive has raised a US$0.3m Pre-Seed from angels — Digital News Asia
🇲🇾 Constructiontech startup Proficient has raised a US$0.24m Seed from Falnas Capital — Business Today
🇲🇾 E-commerce startup RPG Commerce has raised a Series A from Vertex Ventures, Joseph Phua — e27
🇸🇬 Buy Now Pay Later startup Pace has raised a debt financing round from Genesis Alternative Ventures — e27
🇵🇭 Microretail software startup GrowSari has raised a Series B from ICCP SBI Venture Partners, International Finance Corporation, JGDEV, Pavilion Capital, Robinsons Retail Holdings, Saison Capital, Tencent Holdings, Wavemaker Partners — TechCrunch
🇸🇬 Digital Trade startup Contour has raised a Series A+ from Bain & Company, Bangkok Bank, BNP Paribas, Citi Ventures, CryptoBLK, CTBC Venture Capital Company, HSBC Holdings, HSBC Strategic Innovation Investments, ING Bank, R3, Skandinaviska Enskilda Banken, SMBC Venture Capital, Standard Chartered — Finextra
🇮🇩 Social Commerce startup Dagangan has raised a Pre-Series A from Spiral Ventures, Cyber Agent, 500 Startups, Blue Bird Group — LinkedIn
🇮🇩 Entertainment startup Paragon Pictures has raised a Pre-Series A from Intern Studio Group, Salt Ventures — Indo Telko
🇮🇩 Fintech startup Fairbanc has raised a Pre-Series A from East Ventures, ADB, Accion Venture Lab, Sampoerna — East Ventures Blog
🇮🇩 Fintech startup Finantier has raised a Seed from Global Founders Capital, East Ventures, AC Ventures, Addition, Future Shape, Genesia Ventures, GMO VenturePartners, Partech, Saison Capital, Taurus Ventures, Two Culture Capital, Y Combinator — e27
🇮🇩 Legaltech startup Justika has raised a Seed from East Ventures, Skystar Capital — e27
🇸🇬 No-code startup Typedream has raised a Seed from Y Combinator, angels — Tech in Asia
🇮🇩 Dentistry startup KLAR has raised a Seed from AC Ventures — e27
🇸🇬 IoT startup WaveScan has raised a Seed from KK39 Ventures, Koji Ventures, Leave a Nest Capital, Plug and Play Tech Center, Plug and Play-Singapore, SEEDs Capital, she1K, Silicon Solution Ventures — Tech in Asia
🇸🇬 Smart Sensor startup WaveScan has raised a Seed from Silicon Solution Ventures, SEEDS Capital, Koji Ventures, she1K global, KK39 Ventures, Plug & Play Venture Group, Plug & Play Singapore, Leave A Nest Singapore — e27
🇸🇬 Crypto Exchange startup Coinomo has raised a financing round from Vertex Ventures, zVentures, Joseph Phua, Leo Cheng, MetaCartel Ventures, Spartan Group, Turn Capital — e27
🇸🇬 Electric motorcycle startup Oyika has raised a financing round from Yinson Holdings — TechCrunch
🇮🇩 Crossborder e-commerce startup Wook has raised a financing round from Engage Capital, Tian Ge Interactive — Yahoo
Startups and downs 🚀
🇸🇬 Elevator maintenance marketplace WeMaintain has opened its APAC HQ in Singapore, after raising US$36m in Series B funding — TechNode Global
🇻🇳 AI startup Pique has been acquired by fintech Momo — LinkedIn
🇲🇾 Digital media group iMedia has acquired community online beauty store Favful — e27
🇮🇩 Coliving startup Cove has launched SEA’s first student coliving space of 138 units in partnership with property developer Lippo Karawaci for Pelita Harapan University — Jakarta Globe
🌏 The best coliving spaces in SEA — CONVIVO
🌏 Sequoia surge has revealed its new cohort — TechCrunch
🇸🇬 Salaries of software engineers in Singapore — NodeFlair
🇸🇬 APAC mobile traffic trends by Content Square — Omny.fm
🌏 Interview with Anthony Chow, CEO of smart lock company Igloohome — Insignia Business Review
The Unicorn Belt 🦄
🇮🇩 Bukalapak to list on IDX in July — Tech in Asia
🇸🇬 Grab has launched a carbon offsetting feature to its rides — Vulcan Post
🇮🇩 Inside Mitra Bukalapak, the microretail business that represents 27% of the group’s US$6bn TPV — KrASIA
Venture Capitalists 🎢
🌏 Vertex Ventures to hit first close of US$330m fund II in July — LinkedIn
🌏 Velocity Ventures has announced the initial closing of its US$20m fund dedicated to hospitality & travel startups — e27
🇻🇳 Antler has launched in Vietnam — LinkedIn
🌏 Investible has hit first close of US$39M second fund — e27
Corporates 👨💼
🌏 Shopee has launched in LATAM — Tech in Asia
🇸🇬 Arkema (France) is building a 10ha bio-factory for high-performance polymers on Jurong Island — The Straits Times
🇵🇭 The two families worth US$3.6b after Monde Nissin Corp’s IPO — Fortune
🇸🇬 Twitter has partnered with the gov’t to offer digital literacy programs — Tech in Asia
🇸🇬 Inside GlobalFoundries’ SG factory, making semi-conductors amid global supply crunch — WSJ
🇸🇬 Foodpanda is trialing autonomous delivery with Neolix (China) in Punggol — Today Online
Smart Nations 🏛️
🇸🇬 HEC Paris signs landmark innovation collaboration agreement with SMU — French Embassy in Singapore
🇮🇩 6.5m Indonesians bought or sold crypto in the first 5 months of 2021, now exceeds the count of stock traders — KrASIA
🇮🇩 QRIS is Indonesia’s PayNow — Singapore Global Network
🇮🇩 Batam is the new hotspot for datacenters — The Straits Times
🇹🇭 Thai SEC has banned Meme Coins — Decrypt
🇮🇩 Indosat has launched its first commercial 5G services in Solo City — Digital News Asia
🇸🇬 Singapore is booming as a hub for wealthy Chinese families — Insignia Business Review
🌏 12 places where foreigners can own freehold property in Asia — TechCrunch
Food for thought 🍜
🌏 Alternative asset classes totals US$1.7 tn AUM in APAC, 5x from 5Y ago — Preqin
🌏 Asian consumers are expected to account for half of global consumption growth in the next decade — McKinsey & Company
🇸🇬 The Singaporean crypto boom — Vulcan Post
🌏 The rise of Electric Vehicle adoption in SEA — Vertex Holdings
The Fountainhead ⛲
🇮🇳 Fintech startups to enter SEA — Nikkei Asian Review
🇮🇳 Online pharmacy store PharmEasy valued at US1.8b following last round — The Economic Times
🇮🇳 cross-browser web testing platform for DevOps BrowserStack has raised a US$200m Series B — VentureBeat
🇮🇳 Community-based e-commerce platform CityMall has raised a US$22.5m Series B from General Catalyst and Jungle Ventures — TechCrunch
🇨🇳 Didi raised about $4b in its IPO, at a valuation of $67b — Forbes
🇨🇳 The Ma empire is worth half what it was 9 months ago — Forbes
🇨🇳 China’s internet governance agencies commit to build world-class blockchain industrial system by 2025 — SCMP
🇨🇳 New Chinese semiconductors firms have tripled in 2021 — SCMP
🇨🇳 The world of Chinese elite dating apps — Sixth Tone
Also 🤫
🇮🇩 Name a company faster than Gojek at leveraging the latest memes on the market — LinkedIn
🇮🇩 Blibli is sorry — LinkedIn
🇸🇬 Spotted: Grab’s Anthony Tan doing last mile deliveries — Mothership
🇰🇭 Pet Lion found on Tiktok, in Cambodia — the Guardian
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