Category Archives: Southeast Asia

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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Singapore’s SalesWhale raises $5.3M to bring AI to sales and marketing teams

SalesWhale, a Singapore-based startup that uses AI to help marketers and salespeople generate leads, has announced a Series A round worth $5.3 million. The investment is led by Monk’s Hill Ventures — the Southeast Asia-focused firm that led SalesWhale’s seed round in 2017 — with participation from existing backers GREE Ventures, Wavemaker Partners and Y Combinator. That’s right, SalesWhale is one a select few Southeast Asian startups to have been through YC, it graduated back in summer 2016. SalesWhale — which calls itself “a conversational email marketing […]

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Snap is channeling Asia’s messaging giants with its move into gaming

Snap is taking a leaf out of the Asian messaging app playbook as its social messaging service enters a new era. The company unveiled a series of new strategies that are aimed at breathing fresh life into the service that has been ruthlessly cloned by Facebook across Instagram, WhatsApp and even its primary social network. The result? Snap has consistently lost users since going public in 2017. It managed to stop the rot with a flat Q4, but resting on its laurels isn’t going to bring back […]

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Indonesia’s Kargo comes out of stealth with $7.6M from Travis Kalanick, Sequoia and others

Travis Kalanick may be busy cooking up a cloud kitchen business, but that hasn’t stopped the former Uber CEO’s VC fund from making its first investment in Southeast Asia. 10100, the firm that Kalanick launched last year for investments in Asia, just took part in a $7.6 million seed round for Kargo, an early-stage “Uber for trucks” startup based in Indonesia and — you guessed it — was founded by a former Uber Asia executive. Kargo takes some of the concepts behind Uber and applies them to […]

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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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Instamojo raises $7M to help SMEs and ‘micro-entrepreneurs’ in India sell online

In India, startups are quietly building the tools and platforms to enable a different kind of gig economy: one that allows “micro-entrepreneurs” to tap growing access to the internet to sell goods and services online. One such firm helping this burgeoning economy is Instamojo, a seven-year-old Bengaluru-based startup, which has pulled in a $7 million Series B as it aims to grow its reach to more than one million SMEs and micro-SMEs in India. Founded in 2012 as a side project, Instamojo offers independent merchants the means to […]

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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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The real-life Emery and Evan from “Fresh off the Boat” launch Batu Capital for cannabis, crypto and big data startups

Brothers Evan and Emery Huang, founders of Batu Capital Restaurateur and raconteur Eddie Huang is the best known of the three “Fresh off the Boat” brothers (it was his memoir that inspired the ABC sitcom), but his younger brothers Emery and Evan remain relatively mysterious even to its most loyal viewers. Though the two’s namesake characters are also prominently featured on the show, their real-life counterparts have kept a much lower public profile, making sporadic appearances on Eddie’s social media. Emery and Evan, however, have been busy […]

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