News
GoTo closer to profitability as net loss down 41 percent y-o-y in 1Q
PT GoTo Gojek Tokopedia Tbk (GoTo), the largest digital ecosystem in Indonesia, said its net loss fell 41 percent year on year to 3.9 trillion rupiah ($265 million) in the first quarter of 2023, driven mainly by higher revenues and reduced incentives and product marketing spend.
Axiata’s FinTech arm Boost Holdings said to be weighing funding round – report
Boost Holdings is said to be working with a financial adviser on the potential fundraising, which may give the start-up a valuation of $700 million.
Airasia SuperApp average monthly active users up 12 percent q-o-q in first quarter
Airasia SuperApp recorded 12.9 million average monthly active users (MAU) in the first quarter of 2023, up by 12 percent quarter on quarter, its parent firm Capital A Berhad said Thursday.
Singapore digital wealth management platform Endowus officially launches in Hong Kong
Endowus, a Singapore-based wealth management platform, has on Wednesday announced the official launch of its digital wealth management services in Hong Kong. Hong Kong is Endowus’ first overseas expansion market after Singapore.
Capria Ventures marks first close of its $100M fund for emerging market
Capria Ventures, a Global South specialist venture capital firm, marks the first close of its target of $100 million fund. The new fund will focus on investing in 20 to 25 tech startups in the entrepreneurial hotspots of India, Southeast Asia, Latin America, the Middle East, and Africa.
Vietnam’s VinFast receives $2.5B for development
Vietnamese conglomerate Vingroup Joint Stock Company car maker subsidiary VinFast Joint Stock Company has received $2.5 billion in grants and loans to facilitate its continuing development enabling it to achieve its global growth goals.
Better Bite Ventures backs four emerging alt protein startups
Better Bite Ventures, a fund focused on Asia Pacific alternative protein startups, has on Wednesday announced four new investments under its early-stage First Bite initiative and reopens it for new applications.
Nearly One in Five Cars Sold This Year Will Be Electric — International Energy Agency
Electric car sales are generally low outside the major markets, but 2022 was a growth year in India, Thailand and Indonesia. Collectively, sales of electric cars in these countries more than tripled compared to 2021, reaching 80,000.
Malaysian AI Startup VOX scores $250,000 investment from Silicon Valley
Malaysian-born artificial intelligence (AI) startup VOX said Monday it has harnessed ChatGPT with Sharly.ai and scored a $250,000 investment from Silicon Valley.
Singapore Edtech startup Explico raises $1.4M in Pre-Series A funding
Explico, a Singapore based edtech startup, announced Wednesday that it has successfully secured $1.4 million in pre-series A funding. Key investors include Astonic Ventures Singapore, MAVIS TUTORIAL CENTRE, which is one of the largest local tuition centres and Singapore Asia Publishers, the well-known publishing house and a few angel investors.
