Ant-backed Akulaku raises US$100M from Japan’s MUFG
The capital infusion counts as the second strategic investment closed by the Indonesia-based company this year, following the US$100M funding it raised from SCB at the start of this year.
Line Man Wongnai in talks to buy Foodpanda’s Thai unit
A Bloomberg report says that Foodpanda Thailand, owned by Delivery Hero SE, was previously valued at US$100M but the potential deal size may have been trimmed due to market headwinds.
Tencent chief blasts managers in fiery townhall: sources
Founder Pony Ma told employees many corruption issues had been discovered within the company and mismanagement was draining its vitality; Tencent reported a second straight quarterly revenue drop last month.
Hyphen Group secures US$22M in funding led by PCCW
The fintech firm concurrently announced that its CEO Sam Allen has stepped down; Headquartered in Hong Kong and Singapore, Hyphen has reached 8M+ monthly users and partnered with over 270 financial institutions.
Indonesian B2B construction startup BRIK said to finalise US$12M funding
It is in talks for pre-Series A round with AC Ventures, Accel, and B Capital; In July, BRIK raised US$3M from AC Ventures, Accel, and Alternate Ventures.
ALVA raises US$10M from Standard Chartered Indonesia
The capital will help ALVA, a subsidiary of IDX-listed Indika Energy, produce electric motorcycles to build sustainable practices within its supply chain systems.
Singaporean Alchemy Foodtech nets US$3M in extended bridge round
The investors include Thai President Foods, Pine Venture, Thai Union, Heritas, and SEEDS Capital; Alchemy Foodtech provides tasty, healthier food options that reduce the negative impact of excess carbs and sugar on people’s health.
Baidu expands driverless robotaxi service in Wuhan
Baidu’s vehicles are equipped with multi-layer technologies such as redundancy monitoring, remote driving, and a safety operation system; These mechanisms are backed by the firm’s over 32M kilometres of self-driving mileage.
Vietnamese on-demand warehousing platform Wareflex closes pre-seed round
Genesia Ventures and Antler are the investors; Wareflex has a network of over 100 warehouses across Vietnam and provides flexible warehouses of all types on a pay-per-use basis.
YouTrip’s 4 steps to ensure financial resilience during crisis
The payments startup’s CFO Weijern Lim also shares the company’s experience in applying for grants, an excellent alternative to VC funding for startups.
Climate conferences won’t save us: Sparking systems change that benefits us all
Everyone can and should play a part, there is a unique and valuable part each one can play in advancing the climate fight.
What is the future regulation of crypto?
Without the establishment of consistent international rules, customers’ assets cannot be protected, and the crypto asset industry cannot be further developed.
Anticipating 2023: What’s on our radar
As an entrepreneur, you must always be readily available to pivot to new changes because the business environment will constantly evolve.
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