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Asean Tech Digest #47

Your curated summary of ongoing disruption in Southeast Asian tech. Subscribe here to receive it by email ๐Ÿ’Œ

Hi technauts!

On the menu today:

Nanofilmโ€™s IPO at US$1.25b valuation ๐Ÿ’น, NUS spinoff Breathonix has developed a Covid-19 breath detection test ๐ŸŒก, Grab on a partnership spree: Microsoft for tech upskill, Marriott for food delivery, Shinhan Financial for financial innovation ๐Ÿค, Eat Just & Proterra invest US$120m to build a protein factory in SG ๐Ÿœ

โ€ฆand many more awesome things ๐ŸŽŠ

Brace yourselves for even more trees

Just funded ๐Ÿ’ธ

๐Ÿ‡ธ๐Ÿ‡ฌ Regtech startup Silent Eight has raised a US$15m Series B from OTB Ventures, SC Ventures โ€” Fintech News

๐Ÿ‡ป๐Ÿ‡ณ Travel startup Vntrip has raised a US$7m Series B from undisclosed investors โ€” Tech in Asia

๐Ÿ‡ธ๐Ÿ‡ฌ Social E-Commerce startup Webuy has raised a US$6m Series A from Wavemaker, Centauri Fund, KB Financial Group, Global Founders Capital โ€” The Business Times

๐Ÿ‡ธ๐Ÿ‡ฌ Electric motorbike startup SWAG EV has raised a US$5m financing round from EESL โ€” Mercom India

๐Ÿ‡ธ๐Ÿ‡ฌ Advanced materials startup gush has raised a US$3.4m Pre-Series A from TNB Aura, Fidelium Group, RSP Architects, SEEDS Capital, TRIREC โ€” e27

๐Ÿ‡ธ๐Ÿ‡ฌ Spacetech startup Zero Error Systems has raised a US$1.84m Seed from Airbus Ventures โ€” Business Wire

๐Ÿ‡ธ๐Ÿ‡ฌ Proptech startup Propseller has raised a US$1.2m Seed from Iterative, Hustle Fund, XA Network, Rapzo Capital โ€” TechCrunch

๐Ÿ‡ฒ๐Ÿ‡พ Foodtech startup Secai Marche has raised a US$1m financing round from Beyond Next Ventures, Monex Ventures โ€” e27

๐Ÿ‡ฒ๐Ÿ‡พ Travel startup Tourplus has raised a US$1m Seed from Jin Hui Wong, SOSV , GT-MAX Sdn Bhd โ€” Digital News Asia

Startups and downs ๐Ÿš€

๐Ÿ‡ธ๐Ÿ‡ฌ NUS spinoff startup Breathonix has developed a Covid breath detection test, which it claims takes less than 1 minute to get the result with an accuracy >90% based on 180 clinical trials โ€” ZDNet

๐Ÿ‡น๐Ÿ‡ญ Real estate platform Dot Property has acquired property listing startup Hipflat for an undisclosed amount โ€” e27

๐Ÿ‡ธ๐Ÿ‡ฌ Parkway Pantai will be the first clinic in Singapore to issue digital Covid-19 swab results to travelers, under its collaboration with blockchain startup Accredify โ€” Accredify Blog

๐Ÿ‡ธ๐Ÿ‡ฌ NCS, the ICT arm of Singtel, has acquired digital services consultancy company 2359 โ€” Tech in Asia

๐Ÿ‡ป๐Ÿ‡ณ How foodtech startup Lozi pivoted from advertising to delivery service leveraging hyperlocal capabilities, interview with GM Son Minh Tran โ€” Lozi Blog

๐Ÿ‡ธ๐Ÿ‡ฌ Foodtech startup Eat Just (US) has announced a partnership with Proterra Investment Advisers to build a US$120m protein food factory in Singapore โ€” Tech in Asia

๐Ÿ‡ฎ๐Ÿ‡ฉ Bookkeeping app BukuWarung & microretail startup Warung Pintar have announced a partnership to design stock fulfillment solutions โ€” e27

๐ŸŒ Algorand Asia Accelerator has selected 10 startups for its 12-week Finance 3.0 focused program, which includes a US$15,000 investment โ€” e27

๐Ÿ‡ฒ๐Ÿ‡พ Restaurant reservation and table management tools startup TABLEAPP has been acquired by reservation platform FunNow (Taiwan) โ€” New Straits Times

๐ŸŒ Hospitality startup RedDoorz has launched SANS, its new trendy, economy lifestyle hotel brand โ€” e27

๐Ÿ‡ธ๐Ÿ‡ฌ Online financial media Seedly has been acquired by CompareAsiaGroup (HK) โ€” Seedly Blog

๐Ÿ‡ธ๐Ÿ‡ฌ Telehealth startup Doctor Anywhere has launched online mental health video consultation service โ€” MobiHealth

๐Ÿ‡ฎ๐Ÿ‡ฉ Startup Studio, an accelerator run by the Indonesian Ministry of Communications and Informatics of Indonesia, has revealed its new batch of 20 startups โ€” e27

๐Ÿ‡ธ๐Ÿ‡ฌ Electric motorcycle startup OMNi (Costa Rica) has partnered with Gogoro (Taiwan) & BlueSG to offer electric scooter sharing in Singapore, using swappable batteries โ€” CNA

๐Ÿ‡น๐Ÿ‡ญ Video SaaS company Paronym (Japan) has closed a US$6.5m Series B to expand to SEA starting with Thailand โ€” e27

๐Ÿ‡ป๐Ÿ‡ณ VIISA (Vietnam Innovative Startups Accelerator) has revealed its 8th batch of 2 startups: Drobebox & Doctor Bear โ€” DealStreetAsia

The Unicorn Belt ๐Ÿฆ„

๐Ÿ‡ฎ๐Ÿ‡ฉ E-commerce marketplace Tokopedia will reportedly receive US$350m in investment from Google & Temasek โ€” The Business Times

๐ŸŒ Grabโ€™s group revenue is reportedly back at 95% of Pre-Covid level, with over 50% made from it food unit โ€” Reuters

๐ŸŒ Grab has partnered with hotel chain Marriott, for in-depth integration of Marriottโ€™s 600 restaurants & bars in 6 countries to GrabFood โ€” TechCrunch

๐Ÿ‡ฎ๐Ÿ‡ฉ Transaction volumes for Traveloka are back at pre-Covid levels in Vietnam, Thailand; at 70% for hotels in Indonesia โ€” Tech in Asia

๐Ÿ‡ฎ๐Ÿ‡ฉ Gojek has launched its multimodal transportation feature, GoTransit, which includes public transit alerts, and first/last mile GoRide booking โ€” Gojek Blog

๐Ÿ‡ป๐Ÿ‡ณ Grab has partnered with banking group Shinhan Financial (Korea) to accelerate the creation of new financial & digital services in Vietnam โ€” Vietnam Investment Review

๐Ÿ‡ธ๐Ÿ‡ฌ Grab and Microsoft have partnered to train 5,000 drivers & delivery riders to digital jobs โ€” Microsoft Blog

๐ŸŒ The story of Gojek in pictures: from the early days โ€” Gojek Blog

๐ŸŒ Restaurant aggregator Zomato has shut down its premium service in Indonesia & the Philippines โ€” Tech in Asia

Venture Capitalists ๐ŸŽข

๐ŸŒ Tax & legal services firm Taxmantra (India) has launched ProfitBoard Ventures, a US$100m fund to invest in SEA & Indian startups โ€” DealStreetAsia

๐ŸŒ Genesia Ventures has announced the final closing of its 2nd US$75m fund, with Mizuho Bank, Mizuho Capital, TFHD Open Innovation Program, and Mitsui Leasing as anchor investors โ€” Tech in Asia

๐Ÿ‡น๐Ÿ‡ญ Oil refinering & production company Thaioil has partnered with Plug and Play โ€” Plug and Play blog

Corporates ๐Ÿ‘จโ€๐Ÿ’ผ

๐Ÿ‡ธ๐Ÿ‡ฌ Advanced materials company Nanofilm Technologies has filed for IPO at US$1.25b valuation โ€” The Straits Times

๐Ÿ‡ธ๐Ÿ‡ฌ SP Group is building a 700ha/42,000 homes smart town called Tengah, powered by solar energy, leveraging EV charging, smart waste management and centralised cooling system โ€” Bloomberg

๐Ÿ‡น๐Ÿ‡ญ LINE & Kasikorn Bank have launched the first social banking app through their JV โ€” KrASIA

๐Ÿ‡ธ๐Ÿ‡ฌ Sea and Capitaland have formed an alliance to explore digitization of offline retailers, starting with a gamification journey to increase offline sales at six malls on Singles day (11/11) โ€” Singapore Business Review

๐Ÿ‡ธ๐Ÿ‡ฌ DBS is building a fiat-to-cryptocurrency exchange โ€” The Block

๐Ÿ‡ป๐Ÿ‡ณ Apple is shifting production from China to Vietnam, and itโ€™s creating boomtowns โ€” Bloomberg

๐Ÿ‡น๐Ÿ‡ญ Siam Commercial Bank has launched RobinHood, its food delivery platform โ€” KrASIA

๐Ÿ‡ธ๐Ÿ‡ฌ SP Group & Sembcorp are building a marketplace to trade renewable energy certificates (RECs) and carbon credits โ€” The Straits Times

๐Ÿ‡ธ๐Ÿ‡ฌ Connectivity service provider Epsilon has acquired development and design agency 7D Digital (UK). โ€”

๐Ÿ‡ธ๐Ÿ‡ฌ Real estate agency ERA has partnered with Matterport to provide virtual tours, exciting โ€” Singapore Business Review

๐Ÿ‡ธ๐Ÿ‡ฌ Impossible Foodsโ€™s (US) plant-based meat is now for sale at Fairprice and on RedMart โ€” Today Online

๐Ÿ‡ธ๐Ÿ‡ฌ TikTok is hiring 3,000 engineers in EU, Canada, Singapore โ€” Reuters

Smart Nations ๐Ÿ›๏ธ

๐Ÿ‡ธ๐Ÿ‡ฌ The Singaporean govโ€™t will dedicate US$36m to research in hydrogen and carbon capture utilisation and storage โ€” CNA

๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesia is drafting a regulation to details steps to block social media platforms โ€” KrASIA

Food for thought ๐Ÿœ

๐ŸŒ WhatsApp is Facebookโ€™s super app, and an essential part of the stack of many businesses like Yalochat โ€” East Meets West

๐Ÿ‡ธ๐Ÿ‡ฌ From 50 five years ago to 1,000 today: Singapore is the home of a fintech boom; and 80% are B2B โ€” Nikkei Asian Review

๐ŸŒ AI could bring US$1tn in GDP by 2030 to ASEAN, EDBI & Kearney say โ€” The Financial Times

๐ŸŒ Opportunities & challenges for a sustainable supply chain in the Covid era โ€” Reefknot Investments

๐ŸŒ The upcoming release of Assassinโ€™s Creed Valhalla shows Ubisoft is a key foundation of the Singaporean video gaming industry โ€” The Business Times

๐Ÿ‡ธ๐Ÿ‡ฌ What are the determining factors for retail electricity prices in Singapore? โ€” Howard Low

๐Ÿ‡ฎ๐Ÿ‡ฉ The battle to digitize the 40,000 Jakarta streetside eateries โ€” KrASIA

The Fountainhead โ›ฒ

๐Ÿ‡จ๐Ÿ‡ณ Ant is targeting to raise US$34b for its IPO, the worldโ€™s biggest offering and itโ€™s been oversubscribed 872 times โ€” CNA

๐Ÿ‡จ๐Ÿ‡ณ TikTok is partnering with Shopify, globally, to help merchants roll out marketing videos for their products easily โ€” TechCrunch

๐Ÿ‡จ๐Ÿ‡ณ Alibaba is going O2O with its US$3.6b purchase of Chinaโ€™s biggest hypermarket operator, Sun Art โ€” SCMP

๐Ÿ‡จ๐Ÿ‡ณ Online tutoring startup Yuanfudao has raised US$2.2b in two rounds, one led by Tencent, the other by DST Global, with GIC & Temasek also joining โ€” The Business Times

Also ๐Ÿคซ

๐Ÿ‡น๐Ÿ‡ญ The Awakening โ€” Foreign tourists are back in Thailand โ€” Reuters

๐Ÿ‡ธ๐Ÿ‡ฌ Singapore will plant 170,000 more trees in industrial estates in the next 10 years โ€” CNA

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Victor Tenneroni

Victor Tenneroni

VC @ Idinvest โ€” Singapore

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