Self-driving startup Venti raises US$28.8 million to speed up growth

Janette BarraPress Releases

SELF-DRIVING startup Venti Technologies said on Tuesday (Mar 28) it has raised US$28.8 million in Series A funding to speed up the growth of its autonomous vehicle (AV) business for customers the logistics and supply chain industry. Investors in the funding round included LG Technology Ventures, the venture capital arm of LG Corp unit LG Group, and UOB Venture Management, …

Temasek’s Sheares Healthcare leads US$4 million round in mental health startup ThoughtFull

Janette BarraPress Releases

THOUGHTFULL, a Singapore-based digital mental health startup, has raised a US$4 million pre-Series A round led by Temasek-owned Sheares Healthcare Group. Also participating in the fundraise are Vulpes Investment Management , The Hive Southeast Asia, founding members of Grab and Zalora and global family offices. Founded in 2019, ThoughtFull operates a digital platform, ThoughtFullChat, that offers video calls and text-based …

PH startup funding tops $1b in 2022 amid global decline

Janette BarraPress Releases

Startups in the Philippines have raised over US$1 billion in funding for the second year in a row despite a global slowdown, a report from Foxmont Capital Partners and Boston Consulting Group found. Given how worldwide VC investments shrank 35% in 2022, this momentum is quite promising. The report also notes that there has been an increase in later-stage investments …

GIC, Temasek join US$6.5 billion fundraising of US fintech Stripe

Janette BarraPress Releases

SINGAPORE state investors GIC and Temasek are new investors in the latest US$6.5 billion fundraising by Stripe, which nearly halved the US fintech’s valuation to US$50 billion. Other investors in the round include existing Stripe shareholders – Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners and Thrive Capital – as well as another new investor, Goldman Sachs Asset …

JPMorgan says ‘shockingly low’ number of startups in Asia led by women

Janette BarraPress Releases

ONLY 5.7 per cent of startups in Asia-Pacific are led by female entrepreneurs, a percentage that has stayed stagnant for five years, according to a JPMorgan Chase & Co study. “The number is shockingly low,” Kam Shing Kwang, chief executive of JPMorgan’s Asia private bank, said in an interview. “I think sometimes we focus on a few very successful women …

Tech giants look for ways to cash on ChatGPT boom

Janette BarraPress Releases

BARCELONA, Spain — ChatGPT and artificial intelligence have infiltrated the world’s biggest event for the telecom industry, with everyone from chipmakers to mobile carriers eager to talk about their achievements and ambitions in AI-powered tech. More than 2,000 exhibitors gathered in Barcelona for the Mobile World Congress, which kicked off on Monday, including U.S. chipmaker Qualcomm, which showed of its …

Venture funding in Singapore weakens in 2022

Janette BarraPress Releases

THE amount of venture capital funding raised by Singapore-headquartered tech companies dipped last year, as investors turned cautious amid an uncertain macroeconomic climate. Annual deal volume in 2022 dropped 11 per cent year on year to 651, while total deal value dipped 3 per cent to US$11 billion, a report from Enterprise Singapore and DealStreetAsia showed. The study primarily tracked …

Singapore services receipts growth slows to 10.9% in Q4 2022

Janette BarraPress Releases

SINGAPORE’S services industries recorded a 10.9 per cent year-on-year rise in business receipts in the final quarter of 2022, easing from the revised 15.9 per cent growth rate in Q3, data from the Department of Statistics (Singstat) indicated on Monday (Feb 27). On a non-seasonally adjusted quarterly basis, business receipts were up 2.9 per cent in Q4, widening from the …

Willowmore raises Series A+ funding from Seeds Capital

Janette BarraPress Releases

WILLLOWMORE has raised a Series A+ round from Seeds Capital, the investment arm of government agency Enterprise Singapore. The company did not disclose the amount raised, but data platform Venturecap Insights put the total Series A round at US$3 million, led by Greenwillow Capital with its Oriza Greenwillow Technology Fund. Willowmore started out producing smart locks that can be unlocked …

Singapore fintech funding still hot amid funding winter: KPMG

Janette BarraPress Releases

SINGAPORE fintech funding hit a three-year high in 2022, even as lower valuations, turbulence in cryptocurrencies and uncertain economic conditions dented global fintech investments. Total deal value rose 22 per cent to US$4.1 billion in 2022 across 250 deals in mergers and acquisitions (M&A), private equity and venture capital, compared with US$3.4 billion in 2021, KPMG said in its Pulse …