Hi everyone. Taro here.
Despite the persistent bear market sentiment and noticeable absence of funding news, investment rounds are still closing and products are still being launched. It is encouraging to see many startups making adjustments and getting on with the job. When things get tough, clearly the strong keep on trucking.
The team is off to Manila next week. Besides eating the best local sisig and lechon, we will be running a startup demo day in the heart of Makaki, at Draper Startup House Manila on July 27, from 2:00 p.m. to 4:30 p.m. If you are in town and keen to meet founders and VCs, register here. It will be great to see you.
The Post Up
Startups Currently Raising Funds
Target: USD 200,000 seed round
Fencore has developed an enterprise data management system to help organizations to improve workflows and integrate with other systems seamlessly. It has already deployed a number of large projects and has a pipeline of clients.
Nothing But Net
Recent Startup Wins
- Foodpanda officially launched their new headquarters in Singapore. With Senior Minister of State for the Ministry of Communications and Information, Tan Kiat How, in attendance, CEO Jakob Angele also announced the launch of the PowerUp! Tech Academy, which will focus on upskilling drivers and developing tech talent. The team gave a tour of the office space, with features such as the use of recycled materials, halal-friendly kitchen facilities, and parenting facilities adding to the nice atmosphere.
- Yindii is trying to help ease food wastage by giving consumers access to surplus meals. It recently won the Bangkok Startup Day: Shifting the World with Tech competition in Thailand organized by the National Innovation Agency.
- URECA launched a new platform that lets users buy and sell carbon credits via a blockchain-powered verification system. This was developed in collaboration with the Mongolian University of Science and Technology.
- Mosaic Solutions, an F&B cloud management platform based in Manila, raised a USD 5 million Series A round led by Kickstart Ventures.
- Singapore-based Botsync, which develops industrial autonomous mobile robot (AMR) solutions, announced a pre-Series A funding round, bringing its amount raised to date to USD 3.2 million.
Pick & Roll
Interesting Drops From the Week
- Quest Ventures is running the fifth iteration of the Vietnam Global Innovation program, which will take place from August 15 to 29. The accelerator positions startups for success in Vietnam.
- Media for equity is an investment model that involves media firms providing inventory and ad spend in exchange for startup equity. Campaign Asia looked at its presence in Asia. [via Campaign Asia]
- ProsperUs, a central bank digital currency developer, wants to digitize national currencies across Southeast Asia. CSO Amine Chabbi spoke with KrASIA to share how his team plans to achieve this.
- Seah Gek Choo, Deloitte audit and assurance partner, recently wrote a piece for KrASIA sharing her views on diversity, equity, and inclusion and how Deloitte supports these values within the organization.
If you are a startup that is raising funds, or have an interesting story or lead for us to feature in this newsletter, please fill out this form.