On location

The revised SPAC framework will take effect on Jan 1, 2022.

BandLab has raised its first funding round involved outside investors. Led by Vulcan Capital with notable participation from K3 Ventures as well as existing investor Caldecott Music Group, the $53m round will allow BandLab to expand its team and continue to refine and grow its offerings to music creators and aspiring artists worldwide.

Otoklix has raised $10 million from Alpha JWC Ventures and AC Ventures. Sequoia Capital India’s Surge, and angel investors including Indonesia’s largest automotive conglomerate Astra International Ex-Chief Executive Officer Prijono Sugiarto, YouTube Co-founder Steve Chen and Google Executives in XA Network, also joined the round. With this fresh funding, it…

Society Pass (SoPa), which is listed on Nasdaq, announced Thursday its ambition to accelerate its growth in Southeast Asia through the launch of its regional headquarters in Singapore.Located in Raffles Place in the heart of the Singapore central business district, the new office acts as the company’s designated Asia Pacific hub for regional business and…

Igloo has partnered with Pine Labs to extend of its regional footprint in Malaysia. Through the partnership, Pine Labs will offer shoppers hassle-free and easy mobile phone protection solutions under the IglooCare Program.

1982 Ventures announced the initial close of its first seed stage venture fund with $12.5 million in committed capital. The fund which is targeting to raise a total corpus of $15 million, is looking to invest in a total of 30 start-ups primarily in the fintech sector across Southeast Asia. Its first fund has been backed by US fintech unicorn Carta, Asia’s…

Juspay has announced $60 million in Series C funding led by SoftBank Vision Fund 2 with participation from existing investors VEF and Wellington Management.

Binance has established a joint venture with a consortium led by MDI Ventures (MDI) to expand the blockchain ecosystem in Indonesia with the development of a new Indonesian-based digital asset exchange. Binance will provide world-class asset management infrastructure and technology to support the development of the new exchange platform.

Erick said Indonesia has the potential to create more unicorns, 25 in his estimation.

The company said the timing is just right as it believes that Southeast Asia is on the verge of producing many more great tech companies in years to come.