ADIA to lead GoTo Group’s pre-IPO fundraising with $400M investment
GoTo Group, the largest digital ecosystem in Indonesia, said Wednesday it has entered into an agreement with Abu Dhabi Investment Authority (ADIA) to lead GoTo's pre-IPO fundraising with a $400 million investment.
The transaction will be the first principal investment by ADIA’s Private Equities Department into a technology business in Southeast Asia and its largest investment into Indonesia to…
500 SEA expects more unicorns in Southeast Asia following successful exits like Grab, Bukalapak
500 Southeast Asia (formerly 500 Durians), the Southeast Asia-focused fund of global venture firm 500 Global, expects more unicorns in the region as it prepares to write larger checks and expands its focus area to include Vietnam and the Philippines.
“Our core focus is always going to be on Indonesia, Malaysia, Singapore as they form a synergistic region. But we're also going to start…
Pickupp gets additional investment from Temasek-backed Reefknot & Kuehne+Nagel, brings up Series A & A+ to $20M
Pickupp, the Hong Kong-headquartered on-demand delivery startup, announced Thursday that it has secured additional investments from Reefknot, a joint venture backed by Temasek Holdings and Kuehne+Nagel, bringing the total value from its series A and A+ funding to approximately $20 million.
Along with funds from its initial series A+ round of funding in July 2021, Pickupp will be using the…
iSeller raises $8M pre-Series B financing led by Openspace and AppWorks to digitize commerce in Indonesia
iSeller, a rapidly growing Indonesia-based commerce platform providing leading-edge e-commerce and payment solutions, announced on Thursday the completion of a $8 million Pre-Series B round of financing, co-led by Openspace and AppWorks, with participation from Mandiri Capital Indonesia and Indogen Capital.
With the new funds, the company plans to enable more merchants to start, run, and grow…
Bezos-backed Ula to scale up ‘pay later’ options for underserved small retailers in Indonesia
Indonesia e-commerce startup Ula, which recently roped in Jeff Bezos’ Bezos Expeditions as an investor, is scaling up its pay later options to small retailers in the country, Southeast Asia's largest economy.
“Ula’s end goal is to reimagine retail in a way that modernizes the small store owner while preserving their cultural and economic advantages,” Ula Founder and Chief Executive Officer…
Credit Suisse recognizes AirAsia Digital as tech unicorn alongside Carsome, Axiata’s Edotco
Malaysia-based budget airline AirAsia’s transformation into a data and tech-driven travel and lifestyle group has been recognized as one of three ASEAN unicorns based in Malaysia by a recent Credit Suisse report alongside used-car platform Carsome and Axiata's telecommunications infrastructure unit Edotco.
The report highlighted how the digital economy benefited from structural and behavioral…
Bank Negara Malaysia working with ‘relevant authorities’ to address concerns over BNPL
Malaysia central bank said on Thursday it is working with relevant authorities and others to address growing concerns related to buy now, pay later (BNPL) schemes.
"While the BNPL schemes do not currently fall within the purview of Bank Negara Malaysia, we are working with the relevant authorities and others to address growing concerns that such schemes may encourage you to spend on borrowed…
My experience navigating the startup ecosystem in Southeast Asia amid the pandemic
A mantra I live by: The more uncertain the situation is, the more it creates new opportunities. With 14 years of industry experience on my back, my career journey has taught me to embrace volatility and uncertainty because it compels me to improve myself. Unpredictability keeps me on my toes and encourages me to come up with dynamic and creative solutions. More importantly, I believe this…
RHL Ventures’ Hibiscus Fund targets final close of up to $100M, eyes opportunities in food, healthcare & mobility sectors
RHL Ventures, which has been selected by the Malaysian government for its Dana Penjana Nasional (DPN) Program, has chosen three main themes for its Hibiscus Fund which is targeting a final close of up to $100 million, a top executive said.
The Hibiscus Fund is a venture capital fund managed by RHL Ventures and South Korea’s KB Investment Co Ltd., which forms part of the DPN program, an…
Philippines: Southeast Asia’s next big breakout market?
TechNode Global’s series on the Philippines will delve into why now, after years of depending on income from remittances, Filipino entrepreneurs and founders are attracting venture capital (VC) money in droves. In this first part, we briefly explain the key growth drivers and opportunities awaiting VCs in the country, while laying the groundwork for future articles which will feature the…