This week's show starts with the incredible US$350-million record-breaking round that Malaysian-launched and -owned GrabTaxi has announced, but also looks at other startups playing the regional game, as well as not-so-old-school player Telekom Malaysia.
Singapore-based online grocer and marketplace RedMart announced it has closed a US$26.7 bridge round, bringing its total funding since inception to US$54 million, and has hired a former Amazon.com vice president as chief operating officer (COO).
GrabTaxi Holdings Pte Ltd announced its largest ever funding – over US$350 million, from US technology investment firm Coatue Management LLC, China’s sovereign wealth fund China Investment Corporation (CIC), and Didi Kuaidi, a rival service also funded by CIC.
ST Telemedia said it was the lead investor in San Francisco, California-based big data analytics and visualisation company Datameer’s US$40-million financing round, with Top Tier Capital Partners joining in.
CloudDesk Pte Ltd said it has closed a S$589,000 (US$420,000) round of funding from the National Research Foundation (NRF), through its Technology Incubation Scheme (TIS), and investment firm and incubator IncuVest.
Investors live and breathe term sheets and waterfall tables, and so things that might be simple for them to understand can be downright byzantine for most others, including entrepreneurs. Justin Hall gives some tips here – because if you’re not careful, you may end up with nothing.
Singapore, known as an Asian launchpad for multinational companies in the 1990s, is quickly becoming one for startups in the 2010s – at least, according to the Singapore Startup Ecosystem and Entrepreneurial Toolbox prepared by 500 Startups' Arnaud Bonzom.
Regional fitness-sharing platform KFit, founded by entrepreneur and former Groupon international vice president for Asia Pacific Joel Neoh, said it has raised US$3.25 million in an investment round led by Sequoia Capital.
500 Startups’ Khailee Ng sees the beginnings of a feeding frenzy in South-East Asia, similar to what the Indian startup scene is experiencing today. His Distro Dojo accelerator is hoping to catch the wave, in partnership with Malaysia’s MaGIC, writes Karamjit Singh.
Singapore-headquartered fintech startup fastacash has raised US$15 million in Series B funding from international investors, to be used to fuel its expansion ambitions.