News

Indonesian fintech firm JULO reports profitability in 2023

JULO, an Indonesia-based digital financial servicesplatform, has on Monday announced it has achieved an annual recurring revenue of over $120 million, with its total loan disbursement experiencing a 50 percent growth in 2023. The milestone comes alongside the company reporting operating profit breakeven in December 2023, underscoring its sustainable…

Philippines-based SME lender ProCredit secures $4.1M in Pre-Seed funding led by Integra Partners

ProCredit, a Philippines-based small and medium-sized enterprise (SME) lender, closed a $4.1 million pre-seed round, led by Integra Partners. The round also saw participation from the Menardo Jimenez Family Office, M Venture Partners (MVP), Cento Ventures, Gobi Partners (Gobi-Core Philippine Fund), and several local angels.

Vietnam’s VinFast officially breaks ground on integrated EV facility in India

VinFast, a Vietnam-based electric vehicle manufacturer, has officially broke ground on its first integrated electric vehicle (EV) manufacturing facility in the state of Tamil Nadu, India. The electric vehicle facility boasts a total initial investment of $500 million over five years, with a projected capacity of 150,000 vehicles annually.

Vietnamese EdTech startup NativeX raises $4M in seed round co-led by Ansible Ventures and Blueprint Ventures

NativeX, a Vietnam-based EdTech startup, has secured $4million in total funding within just eight months since its launch. The firm has raised $1.5 million from angel investors through SAFE instruments in June 2023, and it now completes its seed round for an additional $2.5 million.

Peak XV launches Spark 03 with 16 female founders across 14 companies

Spark, Peak XV’s fellowship for female founders, has announced their latest cohort with 14 companies and 16 female founders. This cohort includes four companies building AI solutions in travel, fraud detection, wholesale trade and ecommerce.

Malaysia’s TNB aims to electrify 30 percent of its operational fleet by 2030

Tenaga Nasional Berhad (TNB), a Malaysia-based energy company, is pioneering a bold step towards a sustainable future by committing to electrify 30 percent of its operational fleet by 2030 as part of an extensive carbon reduction strategy.

Malaysia’s Gentari launches clean energy platform ‘Gentari Go’ in Asia Pacific

Malaysian clean energy solutions provider Gentari Sdn Bhd, through its subsidiary Gentari Green Mobility Sdn Bhd (Gentari), has launched Gentari Go, a customer experience platform offering an integrated sustainable lifestyle by unifying Gentari’s clean energy ecosystem.

Indian shared electric mobility firm Yulu raises $19.25M in equity funding from Magna & Bajaj Auto

Yulu, India’s largest shared electric two-wheelermobility company, has on Friday announced the successful equity infusion of $19.25 million in its business. The funds have been raised via further issuance of shares to Yulu’s existing strategic investors Magna and Bajaj Auto Ltd.

Grab reports first quarterly profit; to buy back shares

Southeast Asia superapp Grab Holdings Limited has posted a profit of $11 million in the fourth quarter ended December 31, 2023, compared to a net loss of $391 million in the prior year period. The achievement was primarily due to the improvement in group adjusted EBITDA, fair value changes in investments, and lowered share-based compensation expenses.

MDEC partners BMCC to bolster digital trade and economic cooperation between Malaysia and UK

British Malaysian Chamber of Commerce (BMCC) and the Malaysia Digital Economy Corporation (MDEC) have on Thursday announced the signing of memorandum of understanding (MOU) in a move to bolster digital trade and economic cooperation between the United Kingdom and Malaysia.