Malaysia’s iPrice Group lays off 20 percent staff
iPrice Group, a Malaysia-based e-commerce platform helping shoppers find the best deals online, said Wednesday it is laying off 20 percent of its staff.
The layoffs are part of several measures to focus the business on its core mission “to help people save money” shopping online, iPrice said in a statement.
The move comes three months after the company announced a $5 million investment from…
Indonesia’s J&T Express invests $136M for logistics center in Malaysia
J&T Express, an Indonesia-based international express logistics company, announced Tuesday it has invested MYR600 million ($136.46 million) to purchase a 30-acre parcel of land in Bandar Rimbayu, Selangor, Malaysia, to build a logistics center.
The land will be used to build an integrated logistics center for express distribution, logistics and transportation and warehousing to meet…
Vietnam’s Society Pass acquires Singapore blockchain/Web3 mobile virtual network operator Gorilla Networks
Society Pass Incorporated (SoPa), Vietnam-based data driven loyalty and ecommerce ecosystem, announced Monday that it has acquired Singapore-based Gorilla Networks Pte Ltd (Gorilla), a next generation Web3-enabled mobile virtual network operator (MVNO).
SoPa said in a statement that it will incorporate Gorilla Networks’ proprietary blockchain/Web3 technology onto the rest of SoPa ecosystem to…
Singapore FinTech firm HitPay raises $15.75M Series A funding led by Tiger Global
HitPay, a Singapore-based one-stop payments platform for small and medium-sized businesses, announced Tuesday its $15.75 million Series A funding round led by Tiger Global and joined by returning investors Global Founders Capital and HOF Capital.
The funding will enable HitPay to continue building the best payment gateway for small businesses and support small and medium-sized enterprises…
Thai startup ZTRUS aims to double revenue as it expands in home country & regionally
Thailand-based automatic data entry service platform ZTRUS, which plans to raise Series A funding this year, aims to scale further in its home country and explore expansion regionally after breaking even last year, its chief executive said.
“Our profit/loss is at par in 2021. We hope to double the figure in 2022 as we are launching new software-as-a-service (SaaS) products and expanding with…
India’s SUGAR Cosmetics closes $50M Series D funding led by L Catterton
SUGAR Cosmetics (SUGAR), one of India's largest omnichannel beauty companies and a cult favorite amongst Gen Z and Millennial consumers, announced Monday the close of its $50 million Series D fundraise led by the Asia fund of L Catterton, the largest global consumer-focused private equity firm.
SUGAR said in a statement that the upsized round saw strong interest from multiple private equity…
GoTo’s 1Q22 gross revenue grows 53 percent to $357.38m
PT GoTo Gojek Tokopedia Tbk (GoTo Group), the largest digital ecosystem in Indonesia, announced Monday that its gross revenue for the first quarter of 2022 (1Q22) increased by 53 percent year on year to Rp5.2 trillion ($357.38 million), representing an improvement in take rate from 3.5 percent to 3.7 percent due to better monetization in e-commerce and on-demand segments.
GoTo Group said in a…
The social imperative for start-ups to grow
Few will argue that a great product or service is one that solves the most pressing problems for consumers at the best value for money and with the highest quality.
A consumer study found that post-pandemic, consumers in Singapore also care deeply about the way brands treat the environment and community, as well as their attitudes towards racial and economic disparities. Sixty percent surveyed…
Indonesia’s Astro raises $60M Series B funding, bringing the total investment to more than $90M
Astro, an Indonesia platform that enables 15-minute grocery delivery to customers, said Monday it has raised $60 million Series B funding led by Accel, Citius and Tiger Global, bringing its total investment to more than $90 million since it started in September 2021.
Existing investors, AC Ventures, Global Founders Capital, Lightspeed and Sequoia Capital India also participated in the round,…
Singapore’s Neso Brands announces $100+M funding for eyewear brands
Singapore eyewear house Neso Brands announced on Thursday an investment of more than $100 million into eyewear brands.
Neso Brands said in a statement that it will partner and invest in consumer eyewear brands around the world and grow these brands by leveraging synergies across the Lenskart Group to accelerate international expansion.
Neso Brands is an initiative of omni-channel eyewear…