Thailand’s Jitta raises $6.5M to develop an algorithm-powered wealth fund

Jitta, a Bangkok-based fintech startup, has announced a $6.5 million round as it prepares to launch an investment fund for consumers in what would be a first for the Thai market. The deal, which is described as pre-Series A, is one of the largest in Thailand for some time and it was led by Beacon […]

Indonesia-focused Intudo Ventures raises new $50M fund

Intudo Ventures, a VC firm focused on Indonesia, has closed a new $50 million fund. This is Intudo’s second fund to date following its $20 million debut last year. The firm is a relative newcomer to Southeast Asia but a key differentiator is that it is solely focused on Indonesia, which is the world’s fourth most populated country […]

Ambitious Singapore startup Delegate wants to bring its event booking platform to the US

It’s not often that you hear about a startup from Singapore with ambitions to expand to the U.S, but that’s exactly the goal for event booking service Delegate. Founded in August 2015, the company aims to be a one-stop shop for booking an event, that covers corporate and professional functions, celebrations like weddings and more personal events […]

Musiio raises $1M to let digital music services use AI for curation

Musiio, a Singapore-based startup that uses AI to help digital music companies with discovery and creation, has pulled in a $1 million seed round. The capital comes from Singapore’s Wavemaker Partners, U.S. investor Exponential Creativity Ventures and undisclosed angels. The deal represents the first outside round for Musiio, which was founded at the Entrepreneur First program […]

First China, now Starbucks gets an ambitious VC-funded rival in Indonesia

Asia’s venture capital-backed startups are gunning for Starbucks . In China, the U.S. coffee giant is being pushed by Luckin Coffee, a $2.2 billion challenger surfing China’s on-demand wave, and on the real estate side, where WeWork China has just unveiled an on-demand product that could tempt people who go to Starbucks to kill time or […]

Facebook removes hundreds of accounts linked to fake news group in Indonesia

Facebook said today it has removed hundreds of Facebook and Instagram counts with links to an organization that peddled fake news. The world’s fourth largest country with a population of over 260 million, Indonesia is in election year alongside Southeast Asia neighbors Thailand and the Philippines. Facebook said this week it has set up an ‘election […]

Go-Jek makes first close of Series F round at $9.5B valuation

Go-Jek, the Indonesia-based ride-hailing company that is challenging Grab in Southeast Asia, has announced the first close of its Series F round, as TechCrunch reported last week. The company isn’t revealing numbers. Sources told us last week that it has closed around $920 million, but we understand that today the round is at more than $1 […]

Grab raises $200M from Thailand-based retail conglomerate Central Group

Grab’s fundraising push continues unabated after the Southeast Asian ride-hailing firm announced that it has raised $200 million from Central Group, a retail conglomerate based in Thailand. Central’s business covers restaurants, hotels and more than 30 malls in Thailand, while it has operations in markets that include Vietnam and Indonesia. Its public-listed holding companies alone are worth more […]

Facebook, Google and Twitter told to do more to fight fake news ahead of European elections

A first batch of monthly progress reports from tech giants and advertising companies on what they’re doing to help fight online disinformation have been published by the European Commission. Platforms including Facebook, Google and Twitter signed up to a voluntary EU code of practice on the issue last year. The first reports cover measures taken […]

Southeast Asia’s Grab is adding Netflix-like video streaming to its ride-hailing app

Grab is Southeast Asia’s top ride-hailing firm thanks to its acquisition of Uber’s local business last year. Its biggest competitor gone, the company is on a push to go beyond transport and become an everyday “super app” — and that strategy just embraced video streaming today. That’s because Grab is integrating video-on-demand service HOOQ — […]