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Australian investors have poured more than $1 million into plastics recycling service RecycleSmart, as co-founder Marco Prayer says he has invested his entire career to proving the business benefits of the circular economy. Sydney-based RecycleSmart provides…
Vietnamese agritech company FoodMap has raised $1 million in a bridge round from foreign investors to expand its presence to new markets. Founder and CEO Tung Pham said that existing investors including Vulpes Investment Management, Beenext and Wavemaker…
Singapore-based Grab Holdings, Southeast Asia’s leading ride-hailing and food delivery app, is cutting 1,000 jobs or 11 per cent of its workforce, its CEO said on Tuesday, citing the need to manage costs and ensure more affordable services long term. In a…
The fast growing direct-to-consumer apparel company, Claude, that aims to be everyone’s go to brand for going shopping has just announced the closing of its seed round. This independent brand that introduces relevant elevated looks has been busy stealing the…
Indian car rental platform ZoomCar has quit the Vietnamese market after operating for over a year, citing difficulties and further challenges ahead. Addressing car owners in an announcement Tuesday afternoon, it promised, however to fulfill all obligations to…
Education startup TEKY Alpha has raised US$5 million from Singaporean investment firm Sweef Capital to expand its operations. TEKY plans to expand its educational services at public schools and after-school programmes for children aged five to 18, Sweef…
MindX, a startup that offers training in technology and programming, has received a US$15 million investment from a group of international funds in the Series B round. The funding round was led by Singaporean fund Kaizenvest, which has invested in many famous…
Investment in Vietnamese startups reached $634 million in 2022, down 56% over the previous year due to the impact of global economic fluctuations. This investment was directed to startups through 134 deals, according to the Vietnam Innovation and Technology…
The company said on Tuesday that the Spanish ride-hailing app Cabify has raised $110 million in financing to accelerate its growth in Latin America and Spain. Cabify closed the funding round with participation from investors like Orilla Asset Management and…
Indonesia’s biggest tech firm PT GoTo Gojek Tokopedia Tbk posted a narrower adjusted EBITDA loss for the fourth quarter of 2022 of 3.1 trillion rupiah ($201.89 million), the firm said on Monday. GoTo posted 6.5 trillion rupiah in adjusted EBITDA (earnings…
Uber Technologies Inc’s revenue growth is set to outpace that of rival Lyft Inc as the rideshare firm’s presence in major markets around the world gives it the heft to deal with inflationary pressures. Ridesharing companies are starting to recover from…
Foreign startups are eyeing Vietnam as one of their main markets thanks to the country’s large and young population, low costs and cheap and abundant labor force abundant. Vietnam has been among the top markets in terms of revenue for Singapore’s insurance…
Delivery startup Loship is confident it will make profits this year, something most of its competitors have yet to achieve. Nguyen Hoang Trung, CEO of one of only two delivery startups in Vietnam said that Loship suffers “very little” loss. Last year its…
Social media-based food-ordering platform Gobble has shut down in Singapore after more than 18 months of operations. The company’s founders announced the closure on their LinkedIn page. One of them, Ashwin Purushottam, cited the company’s inability to raise…
Indonesian ride-hailing and delivery service company Gojek has named Sumit Rathor as the new GM of its Vietnam operations. Rathor has succeeded Tuan Duc Phung, former GM of Gojek Vietnam since 2020. According to a Gojek statement, Phung has decided to pursue…
Hanoians are struggling to book ride-hailing and delivery services during the runup to Tet (Lunar New Year holidays). Hoang Viet of Nam Tu Liem District had an interminable wait before he could get a motorbike on a ride-hailing app on January 15 evening. He…
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