Vertical

The Indonesia tech sector secured a total funding of $91.7 million in the first quarter of 2024 to date (till March 15, 2024), which is a drop of 36 percent from $143 million raised in the same period last year (till March 15, 2023). Tracxn said Thursday.

The Vietnam Tech ecosystem raised total funding of $35.7 million in the first quarter of 2024 to date (till March 15, 2024), which is a 39 percent decline from $58.6 million raised in the same period in 2023, Tracxn said Wednesday.

The Southeast East Asia (SEA) tech startup ecosystem secured a total funding of $816 million in the first quarter of 2024 to date (till March 15, 2024), the lowest-funded quarter in the past five quarters in the SEA tech sector, Tracxn said Wednesday.

Vietnam-based business to business (B2B) food sourcing platform KAMEREO announced Wednesday that it has raised $2.1 million in Pre Series B funding. The round is co-led by Reazon Holdings, Inc., Quest Ventures, and Thoru Yamamoto, Chief Executive Officer of FOODISON, B2B seafood supply chain company listed in Japan.

Vietnamese car maker VinFast Auto has signed letters of intent (LOI) with 15 initial dealers in Thailand. VinFast said in a statement on Wednesday that this marks an important milestone of VinFast’s distribution network expansion, enhancing the company's presence and affirming its position in the region's leading automotive market.

Global lender HSBC has on Wednesday announced the launch of a $150 million Venture Debt offering in Singapore, and a $1 billion ASEAN Growth Fund, targeting new economy businesses.

Indonesian digital wallet LinkAja announced its corporate action on Wednesday by securing strategic investment from Mitsui & Co., Ltd. (Mitsui).

Indonesian omnichannel InsurTech Qoala has on Tursday announced the completion of its Series C funding round, raising $47 million. The funding was co-led by PayPal Ventures and MassMutual Ventures.

Hong Kong-based Hang Seng Bank has on Tuesday unveiled the HKD 33 Billion ($4.22 billion) SME Power Up Fund, a strategic initiative to support the growth, cross-boundary development, and sustainable progression of Hong Kong's small and medium-sized enterprises (SMEs).

Golden Gate Ventures, a Singapore-based venture capital fund, has on Wednesday announced the appointment of Partner Angela Toy as its Chief Operating Officer (COO). This newly created position reflects Golden Gate Ventures' commitment to robust expansion and strategic leadership in startup ecosystems.