FUNDING continues to be challenging for startups in South-east Asia, as ecosystem funding falls to a five-year low for the third quarter of 2023 to US$835 million. According to a report by market intelligence platform Traxcn, this low comes after a spike in the second quarter of 2023, when funding hit US$3.2 billion. Year on year (yoy), Q3 funding fell …

SOUTH-EAST Asia’s fintech models are now moving to specialisation over commoditisation, a report by venture capital firm January Capital indicated. This comes after the proliferation of fintech services, such as payment systems and lending applications, which has produced significant fragmentation for merchants. The firm noted that more companies in South-east Asia are embedding fintech in their services to meet user …

CEBU, Philippines — Two former executives of the fintech firm Fave, Audra Pakalnyte and Joel Neoh, have launched a new early-stage venture capital fund that will invest in consumer-focused startups in Southeast Asia. The fund, First Move, provides pre-seed funding of up to $100,000 and mentorship to early-stage startups seeking to introduce consumer-focused innovations in the region, according to an …

Singapore companies have expanded their investments in Vietnam in diversified sectors over the years, says the minister, at the first overseas edition of the Singapore Regional Business Forum [HANOI] Innovation, energy connectivity and sustainability are three areas in which Singapore and Vietnam can work together to seize opportunities of the next decade and further deepen bilateral cooperation, said Second Trade …

Former Fave executives Audra Pakalnyte and Joel Neoh have officially launched First Move, a founder-led early stage fund for consumer-focused startups across Southeast Asia. The fund, which did not disclose its fund size though market talk has it pegged at between US$3 million to US$4 million (RM13.9 million to RM18.6 million), provides pre-seed funding of up to US$100,000 (RM466,000) and …

ELECTRIC aircraft startup Archer Aviation is mapping out a strategy for expansion to the Middle East and Asia at the same time as it continues work to secure certification for its air taxi in the US. The California startup, which has a tie-up with United Airlines Holdings, is in advanced talks with potential partners in seven major international markets, chief …

HO CHI MINH CITY — The Vietnamese economy is facing multiple headwinds, including shrinking exports and frequent blackouts, raising concerns over the outlook for Southeast Asia’s rising manufacturing hub. One of Asia’s fastest-growing economies in recent years, Vietnam’s gross domestic product expanded 8% in 2022, with global companies investing in the country as an alternative production base to China. It …

THE eighth edition of Singapore’s cultural diplomacy platform, Spotlight Singapore, is set to take place in Hanoi and Ho Chi Minh City from Oct 19 to Oct 23 this year. Spotlight Singapore was launched in 2006, as a means of fostering mutual understanding and business exchanges between Singapore and the world’s growth-leading economies through arts and culture. Past editions have …

Amili, a Singapore-based gut microbiome company, has raised an undisclosed sum from East Ventures in a new funding round. The fresh funds will be used for its expansion to Indonesia, focusing on addressing gut health issues specific to the local context. Funding details Funding amount: Undisclosed Lead investor: East Ventures Stage: Bridge Source Amili’s current offerings include gut microbiome sequencing …

Just when it looked like the largest of Southeast Asia’s internet firms was yet another poster child of cheap money, a bubbly startup that had grown too much too fast, Sea Ltd.’s top executives took an ax to costs. They closed down some Latin American operations, cut jobs, sacrificed their own salaries and squeezed nearly $500 million out of the …