December 4, 2022

Sea has cut 7,000 jobs in the last 6 months
The downsizing affected around 10% of the company’s total workforce; Some of the recent job cuts have included Shopee, which has laid off around 100 employees; Shopee’s layoffs began around June of this year.

Third Quarter Grab revenue more than doubled year-on-year, shipments reach break-even EBITDA
The internet major posted revenue of $382 million for the quarter, up 143% compared to the same period in 2021; The company attributed the jump to the strong performance of its mobility and delivery segments.

iGlobe Partners plans new $200 million fund for deep tech investments
Since 1999, iGlobe has completed over 100 investment deals in Asia, Europe and the US; His portfolio companies include Hoolah (acquired by ShopBack), Docquity, Novelship and Tonik Bank.

KB Financial is leading ADDX’s $20 million pre-series B round
It will use the capital to grow its wealth management platform for private banks, brokers and family offices; ADDX enables retail investors to access private markets trades that have traditionally only been available to institutional investors.

Singaporeans feel “betrayed” by Temasek-backed FTX.
Retail investors who put money in the stock market to save or trade are bearing the brunt of the crisis; Many of them were lured to FTX by a seal of approval from Singapore’s state investment firm Temasek.

Temasek cuts total FTX investment to $0
The company said it has invested $210 million in FTX International, for a roughly 1% stake; It has also injected $65 million into the struggling exchange’s American business, FTX US, through two rounds of funding for a roughly 1.5% stake.

SoftBank marks FTX investment at $0
In its earnings call last week, the Japanese investment giant announced that it had invested $100 million in FTX; This equates to about 0.4% of the total equity of the cryptocurrency exchange.

Korea launches investigation into Terra co-founder’s fintech firm
Daniel Shin’s Chai Corporation was raided by Korean authorities; They are investigating the company’s launch of the Terra payment service, which may have used its customers’ personal information without consent.

The Philippine startup enabler Archipelago Labs is starting with a capital of 10 million US dollars
The company plans to deploy the fund in early-stage Web3 companies with sustainable business models and solid token economies; Next year, A-Labs will conduct the first cohort for its Archipelago Labs accelerator block.

To leverage Web3 technologies, Web2 companies can start building the right culture
Web3 is all about “a shift in the way we view our community and audience,” say panelists at an Echelon session; Before they can fully embrace and implement Web3, misconceptions need to be cleared.

Singapore gets an NFT-powered Web3 co-working space Metacamp
It has three floors and can accommodate 20 startups with up to five team members; The NFT gated system allows approved members to enter the Metacamp premises by holding an NFT in their crypto wallet.

Green and Sustainable Crypto: Is This the Way Forward?
Green cryptos are those whose mining activities are powered by renewable energy sources and Bitcoin’s greenhouse gas emissions are lower than before.

Blockchain promises to be as fundamental and essential as the internet
According to Amit Ghosh of R3, the wisdom, life lessons and values ​​you gain from risk-taking and travel shape you into who you are and we are the sum of our experiences.

Sumitomo Mitsui invests US$9.2 million in Vietnam’s SmartNet
SmartNet offers payment solutions in Vietnam and focuses on micro SMEs; It operates SmartPay, an e-wallet licensed by the State Bank of Vietnam.

AI-powered real estate portal MOGUL.sg hits $6.5 million Series A
Nech Capital led the round; MOGUL.sg 3D map supports search with an immersive experience to allow potential buyers to better visualize the properties and their surroundings.

Choco Up is investing up to $5 million in Dream Impact’s social startups
Choco Up aims to support high-impact startups in the areas of diversity, equity and inclusion, circular economy and human-centric education; Hong Kong-based Dream Impact connects social entrepreneurs with resources.

One-click checkout startup Beam raises $2.5 million in seed funding
The investors are Sequoia Surge and Partech Partners; The payments company plans to use the fresh funds to hire employees, acquire more merchants and expand into other countries in Southeast Asia.

SG logistics company Amilo exits stealth mode after a $2M round
The company has also made two acquisitions; It acquired a controlling stake in Indonesian last-mile aggregator Kahago, renamed Amilo Indonesia; Details of the other deal were not disclosed, but the acquired company is based in Vietnam.

Betafi receives $1.3 million in funding for its unified user research platform
The investors are Together Fund, Entrepreneur First and Titan Capital; Betafi helps product teams effortlessly conduct user interviews and usability testing to validate their ideas, designs, beta software and websites.

Student-focused Vietnamese fintech startup Rootopia raises $1 million
The investors are Genesia Ventures, ThinkZone Venture and BK Fund; Rootopia helps match angel investors with parents who need funds for their children’s school fees.

“Kampd connects professionals based on what they know, not who they know.”
Amit Gupta, CEO of Kampd, says the social networking platform empowers developers (thought leaders and industry insiders) to create and grow their content on Kampd.

Impact Investment Focuses on Women: Does it do more harm than good?
One panelist argued that putting women at the center of impact investing is counterproductive to the goal of promoting gender equality.

How Zuno Carbon plans to help companies reduce their environmental impact
Zuno provides end-to-end carbon management solutions for businesses of all sizes, providing unparalleled visibility into their supply chain emissions.

Digital transformation: It begins and ends with our employees
Launch any digital transformation initiative by engaging your employees and helping them understand their roles, workflows and needs.

Why offshore recruitment is increasing in APAC countries
While some things make offshore recruitment a bit of a challenge, there are many benefits to hiring outside of your typical pool of employees.

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