Sam Tansakul, MD, Krungsri Finnovate
Thai VC Krungsri Finnovate lines up US$43M for startup funding in 2023
The fintech VC aims to launch an US$8M early-stage fund by Q2 2023; It will allocate another US$8M to Finnoverse (dedicated blockchain fund) and US$28M to Finnoventure (PE fund).
JD.com’s Richard Liu threatens to fire execs amid slow growth
In two meetings between Nov. and Dec. 2022, Liu described some of the company’s executives as “liars,” without naming any specific individuals.
Chinese driverless car firm Freetech nets ~US$100M funding
The investors are Chaos Investment, TCL Industries, BAIC Capital, and Hengxu Capital; Freetech creates a full-stack solution for autonomous vehicles; It designs and manufactures its own cameras, radar, lidar, and domain controllers.
Chinese GPU developer Moore Threads raises US$215M Series B
The lead investors are China Mobile Digital New Economy Industry Fund and Hexie Health Insurance; Moore Threads recently launched Chunxiao GPU architecture, which can be used for gaming, AI, and datacentre workloads.
Mamaearth parent firm to raise US$48M via IPO in India
The firm will put 46.8M existing shares in an offer-for-sale scheme; Investors participating in the scheme include co-founders Varun Alagh and Ghazal Alagh, as well as investors Sofina, Fireside Ventures, and Evolvence India.
Alibaba replaces CTO, appoints group CEO as cloud unit head
Wu Zeming has replaced Cheng Li to be the new CTO; Chairman and CEO Daniel Zhang Yong has been appointed president of Alibaba Cloud Intelligence, as well as the firm’s enterprise communications firm DingTalk.
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.
What to expect from Web3 gaming in 2023
Entering 2023, we believe a few final aftershocks of the FTX collapse will reverberate through the market but that the damage is largely done; Over the last year, bad actors have been exposed and weak companies have failed.
China’s first national NFT marketplace to launch next week: Report
The state-backed platform will serve as a secondary market for NFTs and digital asset copyrights; The project aims to regulate and avoid excessive speculation in secondary NFT markets.
Indian startups laid off close to 20,000 employees in 2022
Since the beginning of the year, about 50 startups have laid off a large number of employees, citing funding constraints and restructuring; Others have shifted the blame to employees’ performance, calling the layoffs standard.
China’s Nio expects to sell fewer EVs amid COVID-19 crisis
Nio has adjusted its outlook for the fourth quarter of 2022, aiming to sell 38,500 to 39,500 vehicles, down from 43,000 to 48,000 vehicles in its original outlook.
How all-electric, self-driving Clearbot helps tackle ocean plastic pollution in Asia
Clearbots has operations in India and Hong Kong and is looking to expand to the Philippines, Indonesia and Singapore soon.
Chart your own path, for the future is what you make it: Rachel Lau of RHL Ventures
Setting RHL and building it to become Malaysia’s largest homegrown VC has been the biggest challenge and highlight of Lau’s career.
2022: A year of digitalisation, adaptability through the lens of the innovate team
We did a lot of pivoting this year but our goal to provide equal opportunities for startups to connect with the right network remained unchanged.
What investors need to know about Bitcoin halving
Bitcoin halving has happened thrice in the past, we can anticipate what would happen to Bitcoin’s value before, during, and after the event.
How can e-commerce brands tap into US$600B social commerce market potential
As modern-day consumer becomes more reliant on their mobile devices, promptness is valued above all else when it comes to social commerce.
The future of job market: Dramatic changes and cultural shifts
Knowledge is power, and everyone has the chance to be knowledgeable; this is the number one power of the job market today.
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