Category Archives: Singapore

A young entrepreneur is building the Amazon of Bangladesh

At just 26, Waiz Rahim is supposed to be involved in the family business, having returned home in 2016 with an engineering degree from the University of Southern California. Instead, the young entrepreneur is plotting to build the Amazon of Bangladesh. Deligram, Rahim’s vision of what e-commerce looks like in Bangladesh, a country of nearly 180 million, is making progress, having taken inspiration from a range of established tech giants worldwide, including Amazon, Alibaba and Go-Jek in Indonesia. It’s a far cry from the family business. That’s […]

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Crowned by Burger King, meat replacement company Impossible Foods raises $300 million

After being crowned by Burger King as the first meat replacement patty to roll out nationally with one of the largest fast food chains, Impossible Foods has raised $300 million in capital. The financing brings the company’s total equity raise to $750 million — and provides a sizable pool of funds to draw from as it continues to compete with its newly publicly traded rival, Beyond Meat. Beyond Meat rockets in early trading on Nasdaq, reaching a valuation of over $3 billion Both companies are looking to […]

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Singapore’s Grain, a profitable food delivery startup, pulls in $10M for expansion

Cloud kitchens are the big thing in food delivery, with ex-Uber CEO Travis Kalanick’s new business one contender in that space, with Asia, and particularly Southeast Asia, a major focus. Despite the newcomers, a more established startup from Singapore has raised a large bowl of cash to go after regional expansion. Founded in 2014, Grain specializes in clean food while it takes a different approach to Kalanick’s CloudKitchens or food delivery services like Deliveroo, FoodPanda or GrabFood. It adopted a cloud kitchen model — utilizing unwanted real estate […]

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Grocery delivery startup Honestbee is running out of money and trying to sell

Honestbee, the online grocery delivery service in Asia, is nearly out of money and trying to offload its business. The company has held early conversations with a number of suitors in Asia, including ride-hailing giants Grab and Go-Jek, over the potential acquisition of part, or all, of its business, according to two industry sources with knowledge of the talks. Founded in 2015, Honestbee works with supermarkets and retailers to deliver goods to customers using its store pickers, delivery fleet and mobile apps. The company is based in […]

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Sea is raising up to $1.5B for its Shopee e-commerce business in Southeast Asia

Alibaba is about to get a jolt from its largest rival in Southeast Asia. Sea, the Nasdaq-listed business, is raising as much as $1.5 billion from a new share offering that’s sure to be funneled into its Shopee e-commerce business. Singapore-based Sea said in a filing that it plans to offer 60 million American Depositary Shares (ADS) at a price of $22.50 each. That could raise $1.35 billion, but that number could increase by a further $202 million if underwriters take up the full allotment of 9 […]

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Whim, the all-in-one mobility app for ridesharing, public transit and rentals is coming to the US

MaaS Global, the company behind the all-in-one mobility app Whim, which offers a subscription service for public transportation, ridesharing, bike rentals, scooter rentals, taxis or car rentals, will be making its U.S. debut later this year. The company will choose its American launch city from Austin, Boston, Chicago, Dallas and Miami, according to Sampo Hietanen, the company’s chief executive. The Whim app is currently available in Antwerp, Birmingham, U.K., Helsinki and Vienna, according to Hietanen, and offers a range of subscription options. The top of the line […]

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Go-Jek extends ride-hailing service to the rest of Singapore

After a limited rollout, Go-Jek said today that it will extend its ride-hailing service to all of Singapore tomorrow while continuing its beta phase. The Indonesian-based company began offering rides in Singapore at the end of November, but only for passengers riding to and from certain areas. It introduced dynamic pricing there, which increases prices during peak times, a few days ago. “We continue to welcome feedback from driver-partners and riders during this enhanced beta phase, as we work to fine-tune the app and create the best […]

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