GBCI Ventures announced an US$11 Million investment into Fincy a fintech startup led by Douglas Gan, Vannesa Koh and Lim Ming Wang who are all from GBCI Ventures. In a media statement, they shared that Fincy is the venture capital firms new endeavour that aims to provide an “affordable alternative to existing financial services, starting with simplifying currency exchange via…
Singapore government-linked EDBI and Seeds Capital announced a S$285 million (US$205 million) fund to support startups in the city-state and help them sustain their growth amid the Covid-19 pandemic. With the Special Situation Fund for Startups (SSFS), EDBI and Seeds Capital will invest in selected startups with private sector co-investors on a one-to-one basis, according to a statement. EDBI is…
Ford Vietnam has announced it is investing $82 million to increase production, which will speed up the transition to cars in a communist nation known more for the iconic motorbike. The automaker will use the money to buy machines like internet-connected robots, add a body-and-paint shop to its factory outside Hanoi, and nearly double its workforce to approximately 1,000 people,…
It will be partly used to foray into other Asia Pacific markets. Shared e-scooter operator Neuron Mobility has raised $25.14m (US$18.5m) in a funding round, according to a press release. The funding was led by US-based GSR Ventures and Australian venture capital firm Square Peg. The capital is intended to be used to accelerate its Australian and New Zealand roadmap,…
Food & AgTech investors are most excited about the potential for Asia’s agri-foodtech startup scene, according to a new report AgFunder just released with Idea2Scale. We conducted a survey of 50 global venture capital firms that invest in foodtech and agtech and asked them about the categories and geographies they were most excited about as well as the key challenges…
Singapore-based consumer data and analytics firm Milieu Insight has raised US$2.4 million in a pre-series A round led by MassMutual Ventures Southeast Asia. Established in 2016, Milieu offers businesses a wide range of tools for accessing and analyzing high-value consumer opinion data through its platform. Its product portfolio includes two key offerings that both launched earlier this year: dynamic consumer…
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…
A software company that helps law practices run more efficiently may not be the flashiest business in town, but that’s not stopping some VCs from backing them with pretty high dollars. Hence, Canada-based Clio (which provides that type of software) announced this morning it has raised a massive $250 million Series D round from TCV and JMI Equity. Clio’s platform…
Nine companies from Singapore have made it to Forbes Asia's inaugural Best Over A Billion list, which spotlights 200 top-performing listed companies across Asia-Pacific with revenues of US$1 billion (S$1.39 billion) or more. They are the Republic's Big Three banks - DBS Bank, OCBC Bank and United Overseas Bank - Wilmar International, CapitaLand, City Developments, Olam International, ASM Pacific Technology…
In his book The Hard thing About Hard Things, Ben Horowitz, co-founder of venture capital (VC ) firm Andreessen-Horowitz, writes about his experience of raising $20 million venture capital for his two-month-old startup, LoudCloud, along with Marc Andreessen of Netscape fame. Though it was the summer of 1999, just at the precipice of the dot-com bust, the clouds of an…