News

Singapore to invest over $743M in AI over the next five years – Budget 2024

"To support this strategy and further catalyse AI activities, I will invest more than $1 billion over the next five years into AI compute, talent, and industry development," Wong, who is also the Minister for Finance, said as he delivered Singapore’s FY2024 Budget Statement.

IFC invests in Tajikistan’s first green bond to support climate-smart projects

The International Finance Corporation (IFC) has announced a subscription of up to $10 million in a landmark local currency green bond issued by Tajikistan's Eskhata Bank—the first in the country — to boost access to climate finance for smaller businesses amid a challenging macro-economic environment.

India’s Ayekart raises $6.5M in Series A funding led by Omnivore, Siana Capital, Unleash Capital Partners

Ayekart, an India-based agrifood fintech platform, has raised $6.5 million in a Series A round led by Omnivore, Siana Capital, and Unleash Capital Partners. With this capital infusion, Ayekart aims to expand its operations nationwide and cater to a larger audience of Farmer Producer Organizations (FPOs), food manufacturers, distributors, and retailers.

Vietnam’s VinFast partners with five dealers in Indonesia

Vietnamese carmaker VinFast Auto has officially signed the letter of intent with five dealers in Indonesia. The signing marks an important step in expanding VinFast’s distribution network in the Indonesian market and strengthening its brand recognition and competitiveness globally.

Malaysia’s Secondlifeasia expands to Thailand via investment in Appidea

Secondlifeasia, a Malaysia-based smart device repair company, announced its expansion to Thailand, through a joint venture with Appidea Co., Ltd with an initial investment of $250,000. The expansion will see the firm strategically setting up a total of three centrally located brick-and- mortar outlets in Thailand by the end of 2024.

Malaysia’s KWAP invests $21M in Bateriku, Lapasar, Vynn Capital and Antler

Malaysia's pension fund Kumpulan Wang Persaraan (Diperbadankan) [KWAP] has on Friday announced the first batch of investments made under its Dana Perintis strategy. The investments, which amount to MYR 100 million ($21 million), comprise two direct investments in Malaysian startups and two venture capital fund commitments.

Blue Planet Boosts Circular Economy with a majority stake in Mahindra Waste to Energy

Blue Planet Environmental Solutions Pte. Ltd. (Blue Planet), a Singapore-based sustainable waste management firm, has finalized the acquisition of Mahindra Waste to Energy Solutions Limited (MWTESL), a subsidiary of Mahindra Group.

Vietnam’s VinFast introduces range of right-hand drive electric vehicles in Indonesia

Vietnamese car maker VinFast Auto has on Thursday debuted the company’s first range of right-hand drive electric vehicles at the Indonesia International Motor Show (IIMS) 2024.

Mocaverse partners with OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet to expand Moca ID ecosystem

Mocaverse, the marquee membership network project by Animoca Brands, announced Friday the formation of strategic partnerships with major Web3 wallets OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet to bridge the gap between Centralized Finance (CeFi) and the on-chain cultural economy.

East Ventures names Sang Han as its new Partner for East Ventures South Korea fund

East Ventures, a sector-agnostic venture capital firm in Indonesia and Southeast Asia, has announced Sang Han as a Partner for East Ventures South Korea fund. East Ventures said in a statement on Thursday that Sang will leverage his extensive experience to manage the fund operation of East Ventures in South Korea.