Indonesia-based carbon technology platform Fairatmos has raised $4.5 million in a seed round led by Go Ventures, the venture capital investment arm of Gojek; and Kreasi Terbarukan TBS, a unit of IDX-listed energy company Toba Bara Sejahtera. The round also saw participation from Vertex Ventures Southeast Asia and India and prominent angel investors, according to… Continue reading Indonesian carbon technology startup Fairatmos raises $4.5m in seed round funding
Author: Deal Street Asia Online News
Ant Group leads Hong Kong-based Aigens’ $14m Series A funding round
Aigens, a food and beverage SaaS startup based in Hong Kong, has secured $14 million in a Series A funding round led by Jack Ma’s Ant Group, according to a company announcement on Monday. The other backers included Singapore’s venture capital and private equity firms Velocity Ventures, Phillip Private Equity, and Prizm Ventures. Aigens digitises… Continue reading Ant Group leads Hong Kong-based Aigens’ $14m Series A funding round
NZ Super Fund commits up to $70m to VC firm Movac’s new tech-focused vehicleMovac is targeting a $100m first close for its Growth 6 Fund.
NZ Super Fund, New Zealand’s sovereign wealth fund, announced that it will commit up to $70 million to the latest technology-focused fund of venture capital firm Movac. The commitment is for the Movac Growth 6 Fund, an investment vehicle that seeks to back fast-growing, established technology companies in New Zealand, the wealth fund said in… Continue reading NZ Super Fund commits up to $70m to VC firm Movac’s new tech-focused vehicleMovac is targeting a $100m first close for its Growth 6 Fund.
SE Asia VCs bolster leadership teams as portfolio demands growRegional VCs including AC Ventures, Jungle and Wavemaker have beefed up their leadership…
In Southeast Asia, venture capitalists have been dispensing sage advice to startup founders on how to build resilient teams and groom top leaders. Today, many of them find themselves executing the same in their own firms. Venture capital is a relatively new asset class in Southeast Asia. As such, most of the region’s VC players… Continue reading SE Asia VCs bolster leadership teams as portfolio demands growRegional VCs including AC Ventures, Jungle and Wavemaker have beefed up their leadership…
Early-stage startups keep Vietnam’s deal counter buzzing in 2022
Global venture capital funding has witnessed a marked slowdown this year, and Vietnam is no exception. Venture investors, however, still see abundant opportunities for long-term growth in the country’s tech space. The Southeast Asian economy is forecasted to grow by 4-5% annually over the next 10 years, with Vietnam leading the charge at a projected… Continue reading Early-stage startups keep Vietnam’s deal counter buzzing in 2022
Singapore’s AirCarbon Exchange looks to raise $50m in Series B funding
Singapore-based carbon trading exchange and clearing house AirCarbon Exchange is looking to raise $50 million in its upcoming Series B round that is expected to close in end-March or early-April next year, a top executive of the firm told DealStreetAsia. The round has already piqued the interest of 17 parties including banks, financial institutions, and… Continue reading Singapore’s AirCarbon Exchange looks to raise $50m in Series B funding
Crypto broker Genesis owes $900m to customers of Winklevoss twins-owned Gemini
Crypto broker Genesis and its parent company Digital Currency Group (DCG) owe customers of the Winklevoss twins’ crypto exchange Gemini $900 million, the Financial Times reported on Saturday. Crypto exchange Gemini is trying to recover the funds after Genesis was wrongfooted by last month’s failure of Sam Bankman-Fried’s FTX crypto group, the newspaper said, citing people familiar with the… Continue reading Crypto broker Genesis owes $900m to customers of Winklevoss twins-owned Gemini
Softbank-backed OYO lays off 600 employees in ‘wide ranging reorganisation’
Softbank-backed Indian hotel aggregator Oyo Hotels and Homes Pvt Ltd said on Saturday it is cutting 600 jobs in its corporate and technology departments. India’s IPO-bound Oyo will cut 10% of its 3,700-employee base, while at the same time hiring 250 people, it said in a statement. Product and engineering teams are being merged to allow for smoother functioning, the company… Continue reading Softbank-backed OYO lays off 600 employees in ‘wide ranging reorganisation’
SE Asian startup employees seek better compensation, career growth: Report
Technology companies across Southeast Asia are struggling to find and retain employees amid demands for better compensation and growth opportunities, according to a recent survey. The survey found that nine out of 10 companies face difficulties hiring digital talents as earlier-stage startups often cannot compete with bigger and deeper-pocketed startups. There is also a limited… Continue reading SE Asian startup employees seek better compensation, career growth: Report
India: Tencent-backed ShareChat shuts fantasy sports vertical Jeet11The social media platform also laid off nearly 5% of its workforce.
Social media platform ShareChat on Friday said it has shut fantasy sports platform Jeet11 and laid off nearly 5% employees as it re-evaluates its strategy. “As a standard business practice, we periodically evaluate our strategies. We can confirm that we are ceasing operations of Jeet11 and have reorganised some of our functions, which meant the… Continue reading India: Tencent-backed ShareChat shuts fantasy sports vertical Jeet11The social media platform also laid off nearly 5% of its workforce.