Investments

The $55 million investment will be channeled towards continuous technological enhancements and investing in further trust and safety measures that will help improve the overall profitability of the business.

Upstage plans to use the funds raised to recruit a large number of AI specialists and developers to accelerate the development of its ‘AI Pack.'

Giftee's investment into TADA Network marks its second major investment outside of Japan as part of the company's expansion in Southeast Asia.

SCB Abacus will use the fresh funds to strengthen its digital infrastructures, drive product adoption and recruit additional talent.

Gogoro's battery swapping ecosystem enables smart mobility for two-wheel electric vehicles--an alternative 'refueling' means comparable to gassing up at traditional refueling stations.

The latest funding round also came after Carousell raised $80 million in an investment round led by South Korean tech giant Naver in September last year.

With the latest investment, Xendit plans to continue innovating its product suite, with sights on expansion into select countries across Southeast Asia.

By bridging the funding gap, MaGIC and Penjana Kapital aspire to reorient private capital for innovative start-ups, attract global and regional VCs into Malaysia, as well as elevate knowledge transfer, talent development and creation in Malaysia ecosystem.

With the fresh capital, the company will continue to democratize access for Indonesian retail investors to grow their wealth via its digital savings and investing products.

The funding will be deployed to create an all-encompassing community-like shopping experience for the hobbyists.