News
Australian AI startup Neara closes $24M Series B funding from Prosus Ventures and others
Neara, an Australia-based infrastructure modeling platform, has closed $24 million Series B funding from Prosus Ventures and its existing investors, Skip Capital and Square Peg Capital.
Thailand insurance firm Roojai completes DirectAsia acquisition
Roojai, a Thailand-based online insurance company, has on Wednesday announced that it has completed the acquisition of Singapore-based insurance firm DirectAsia group. Roojai has entered into an agreement to acquire DirectAsia group from Hiscox.
Tracxn : SEA tech startups witness lowest quarterly funding in five years
Southeast Asia (SEA) funding has seen a big drop of 74 percent in quarter-on-quarter in the third quarter, making it the lowest funded quarter in the last five years, said Tracxn on Thursday. the SEA tech startup ecosystem raised a total of $835 million in the third quarter, a huge 74 percent drop from $3.2 billion raised in the second quarter of 2023 and a…
Temasek-backed True Light raises $3.3B to invest in Greater China
Temasek-backed unit True Light Capital Pte. Ltd. (True Light) has on Thursday announced the final closing of its first flagship fund, True Light Fund I. The fund was closed at $3.3 billion, with capital commitments from global investors, including sovereign wealth funds, foundations, financial institutions, and family offices.
Indonesia bans e-commerce transactions on social media platforms such as TikTok – report
The government said the move, which takes effect immediately, is aimed at protecting offline merchants and marketplaces, adding that predatory pricing on social media platforms is threatening small and medium-sized enterprises.
Malaysian bourse commences carbon credits trading
Malaysian bourse Bursa Malaysia Berhad announced on Tuesday that its subsidiary Bursa Carbon Exchange (BCX) had commenced trading and facilitation of off-market transactions of carbon credits. By the close of its second day of trading, ten companies from various industries transacted a total of 16,500 Verra-registered carbon credits.
Taiwan’s Foxconn invests in US-based AI firm Kneron’s $49M additional round
Kneron, the San Diego-based full-stack artificial intellingence (AI) company, has on Tuesday announced $49 mlllion in strategic funding from investors including Foxconn, HH-CTBC Partnership (Foxconn Co-GP Fund) and Alltek, bringing its total Series B financing to $97 million. The full round was led by Horizons Ventures, with participation across several…
Philippine AUB expands Alipay+ cross-border digital payments to more than 5,000 merchant stores
Asia United Bank (AUB), a publicly listed universal bank in the Philippines, is enabling more local merchants to accept cross-border digital payments from Hong Kong SAR, South Korea, and Malaysia via Alipay+ and AUB PayMate.
Automera secures $16M in Series A funding co-led by ALSP, ClavystBio
Automera, a new biotechnology company based in Singapore, has secured $16 million in Series A funding co-led by Accelerator Life Science Partners (ALSP) and ClavystBio. The funding also saw participation from Singapore-based global investor EDBI, Xora Innovation, and other undisclosed investors.
LexisNexis : Global financial crime compliance costs for financial institutions totals more than $206B
Global financial crime compliance costs for financial institutions totals more than $206 billion, according to LexisNexis® Risk Solutions released on Wednesday. The cost is comparable to more than 12 percent of global research and development (R&D) expenditure and equates to $3.33 per month for each working-age individual on earth.
