Singapore’s Insignia Closes $200 Million Southeast Asia Fund

Insignia Ventures Partners, a Singapore-based firm founded by a former venture partner of Sequoia Capital, has closed its second Southeast Asian fund at $200 million. The new fund underscores a growing interest in Southeast Asia’s startup scene. A number of VC firms, including Temasek Holdings Pte.’s Vertex Ventures and Vulcan Capital, the investment house of late Microsoft Corp. co-founder Paul…

Venture capital funds to pull the brakes

Venture capital investment in India in the next two quarters is unlikely to be as robust as the third quarter of calendar year 2019, according to research from KPMG. The total venture capital investment in the country during the July-September quarter was $3.5 billion, higher than the second-quarter amount of around $2 billion. These include large deals such as $490…

Singapore overtakes the US to become world’s most competitive country

Singapore has overtaken the U.S. to become the most competitive nation in the world, according to the World Economic Forum (WEF). In its 2019 Global Competitiveness Report, the WEF measured the strength of 103 key indicators, such as inflation, digital skills and trade tariffs, across 141 countries. The key indicators in the report were organized into 12 pillars, which included…

65% of all startup funding in SEA goes to Singapore: 2019 Google report

South-east Asia’s (SEA) internet economy is now worth US$100 billion, and will triple to US$300 billion by 2025, an annual report on the region’s digital economy has found. Of this, US$12 billion was from Singapore – slightly over 10 per cent of the regional total. Jointly published by Google, Temasek, and Bain & Company, the report – released on Thursday…

Udaan soars higher, raises $585 million in fresh funds

Udaan, the fastest Indian startup to achieve unicorn status, has raised $585 million in its latest round of funding, valuing the online business-to-business marketplace at $2.5-3 billion. The Series D round saw investments from Tencent, Altimeter Capital, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures, the firm said on Wednesday. Existing investors Lightspeed Venture Partners and DST Global also invested…

Ex-Lazada exec’s co-living startup Cove banks $2m in seed funding

Singapore-based co-living startup Cove has raised over US$2 million in a seed round led by Venturra, Yuj Ventures, Investigate, and Picus Capital. Local venture capital firms Aetius Capital and Found Ventures also participated in the round alongside some strategic angel investors. Cove was founded by Guillaume Castagne, formerly vice president of marketing for Lazada, along with Sophie Jokelson and Luca…

Smartbites Raises US$100K VIA ECF Funding To Expand Corporate Offerings

AI-POWERED food delivery startup SmartBite has recently raised approximately US$100,000 (RM418,000) via a successful equity crowdfunding campaign on the pitch IN platform. This brings a total investment of over US$700,000 for the food-tech company, which previously raised around US$300,000 from two series of funding alongside strategic investment from Magna Capital, Rhombus Food Holdings, Eric Ryd, Noodle Digital and angel investors…

India’s Darwinbox raises $15M to bring its HR tech platform to more Asian markets

An Indian SaaS startup, which is increasingly courting clients from outside of the country, just raised a significant amount of capital to expand its business. Hyderabad-based Darwinbox, which operates a cloud-based human resource management platform, said on Thursday it has raised $15 million in a new financing round. The Series B round — which moves the firm’s total raise to…

500 Startups partners ESG to support startups in Singapore, San Francisco

Eustan Ventures Singapore

US venture firm 500 Startups and Enterprise Singapore (ESG) have entered a two-way partnership to nurture the growth of startups in Singapore and San Francisco, ESG announced in a press release on Tuesday. 500 Startups is the latest partner to join ESG's Global Innovation Alliance (GIA), a network of Singapore and overseas partners in major innovation hubs abroad. GIA is…

Singapore AI startup Advance.ai banks $80m in series C round

Singapore-based AI and big data firm Advance.ai raised US$80 million in a series C round led by private equity investor Pavilion Capital and Chinese venture capital firm Gaorong Capital (formerly Banyan Capital). Unicorn Venture and eGarden Ventures also participated in the round, alongside existing investors GSR Ventures and Vision Plus Capital. Founded in 2015, the data-driven fintech company helps businesses…