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Startup Wire | Powerful impact

Written by Startup Wire Published on   3 mins read

The latest startup briefs from across the Asia Pacific region.

Hi everyone. Taro here.

In the bustling world of startups and technology, adaptability is key. However, sometimes, the lines between adherence to rules and overenforcement can blur. A recent incident at Tekka Food Centre, as reported by Today Online, sheds light on this very aspect.

While a diner was told by officers to wipe down his table, the National Environment Agency clarified that such an action isn’t mandated. This incident raises pertinent questions about the balance between ensuring compliance and fostering a conducive environment for businesses and the public alike. As we navigate the dynamic tech landscape in Singapore, such instances remind us of the broader ecosystem we operate within and the importance of clear communication.

Nothing But Net

Recent Startup Wins

  • Eazy Digital, an insurtech software-as-a-service platform, secures USD 1 millionin a seed funding round led by M Venture Partners, with contributions from Wavemaker Partners and others.
  • Edge Tutor, a Singapore-based edtech startup, secures seed funding in a round led by MV Partners and Seaborne Capital, with participation from notable investors like Jojo Malolos and Paul Rivera.
  • Lotmaxx, a Shenzhen-based 3D printing firm, raises USD 13.6 million in a pre-Series A+ round led by Kylinhall Partners, with participation from Xiaomi; funds to enhance R&D and marketing.
  • Amoda, an Indonesian construction tech company, secures seed funding in a round co-led by East Ventures and Living Lab Ventures.

Clean Block

We cover interesting news items related to climate and sustainability in Southeast Asia.

  • Global carbon pricing is set to become a top priority starting 2024, as countries and corporations align their strategies to combat climate change and meet sustainability goals. [via Energy Monitor]
  • An investigative piece delves into the complexities and potential pitfalls of the burgeoning cash-for-carbon market. As businesses rush to offset their carbon footprints, concerns arise about the efficacy and transparency of these carbon credit schemes. [via The New Yorker]
  • The Tokyo Stock Exchange has initiated trading in carbon credits, marking a significant step for Japan in the global carbon market. This move is anticipated to boost the country’s efforts in achieving its carbon neutrality goals and foster a more sustainable economic environment. [via CNA]
  • Singapore’s push to establish itself as a hub for bilateral carbon markets encounters challenges from competing nations and imminent supply issues. Despite these hurdles, Singapore remains steadfast in its commitment to develop its carbon trading ecosystem, viewing it as essential for its broader sustainability objectives. [via Eco-Business]

Pick & Roll

Interesting Drops From the Week

  • Middle Eastern sovereign wealth funds, led by Saudi Arabia’s Public Investment Fund and the UAE’s Mubadala Investment Company, are actively investing in Chinese tech unicorns. These investments are part of a broader strategy to diversify their portfolios and tap into China’s booming tech sector. [via KrASIA]
  • A former engineer at FTX testified about a tense rooftop meeting with Sam Bankman-Fried, CEO of the cryptocurrency exchange. The details of the meeting and its implications for the ongoing trial remain undisclosed. [via CNBC]
  • Following disruptions caused by ChatGPT, Stack Overflow has laid off 28% of its staff. The platform, which serves as a vital resource for developers, faced challenges adapting to the rapid advancements in AI-driven solutions. [via Ars Technica]
  • Six months after NPR left X (formerly known as Twitter) due to being labeled as “US state-affiliated media” by Elon Musk, the effects have been minimal. Traffic to NPR’s site dropped by only a single percentage point, suggesting that X’s influence on traffic was already waning. The move has sparked discussions about the diminishing returns of social media for news outlets. [via Nieman Reports]

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.


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