A weekly newsletter summarizing recent activity and interesting startups in South East Asia.
INTERESTING COMPANIES FOUND
Mimetic (2015, Singapore) AI based ‘’Virtual Assistant’’ for scheduling meetings generally used by the business customers. Global comparables include x.ai (2014, NYC, $11M) and Julie Desk (2014, Paris).
Xwork (2015, Jakarta) On demand marketplace for meeting spaces that help users book meeting spaces listed on the platform. Global comparables include Convene (2009, NYC, $25.5M) and Worktopia (2004, Atlanta, $12M).
SEA – FUNDING UPDATES
Carsome (2015, Kuala Lumpur) Online listing platform for new and used cars raises $2M in Series A round of funding led by IdeaRiverRun, with participation from IMG Investment Partners and 500 Startups. Read more
Tinggal (2016, Singapore) Asset-light branded budget hotel platform raises $1M led by Prafulla Mathur (Founder of Wudstay) with participation from Mangrove Capital, Simile Venture Partners and angel investor Vikas Saxena. Read more
SEA – RECENT DEVELOPMENTS
Dimo (2014, Jakarta) Mobile first wallet service provider of Indonesia introduces digital payment solution, titled Pay by QR, which can scan QR code to pay for transaction with the partnered companies. Read more
HappyFresh (2014, Jakarta) Online marketplace for existing grocery retailers has started one-hour grocery delivery service to Manila, Philippines. As of now the company has its footprint in five countries namely Indonesia, Malaysia, Thailand, Taiwan and Philippines. Read more
United Overseas Bank (UOB), Singapore’s largest SME bank, has partnered with OurCrowd, an equity crowdfunding web platform based out of Israel. UOB would invest $10M into OurCrowd and provide bank access to the portfolio companies of OurCrowd. Read more