Hi everyone. Taro here.
With the Xmas break over, the year started with a bang for hip-hop heads, thanks to the announcement that De La Soul’s back catalog will finally be available on music streaming services after years. Everyone can now enjoy classics like “Eye Know”, “Talkin’ Bout Hey Love” and “Ego Trippin’ (Part Two)”. Incredible.
Here in Asia many are now getting ready for the Chinese New Year holiday, which generally means late Jan and early Feb is not an overly productive period. However, 2023 is already shaping up to be an interesting year with market consolidation for many industries looking like a highly likely possibility, especially with the ongoing tech winter. Gong xi fa cai!
Nothing But Net
Recent Startup Wins
- Healthtech startup Amplify Health acquired AI solutions company AiDA Technologies for an undisclosed amount.
- Parenting platform startup Supermom closed a USD 6 million Series A round led by Qualgro, with participation from AC Ventures.
- Indonesian Employee Assistance Program platform Mindtera closed a USD 850K seed extension round led by East Ventures.
On the Road
Events to check out
- Quest Ventures is calling for startups focused on making a sustainable impact to apply for the second cohort of their Sustainable Impact Accelerator (SIA) in partnership with raiSE. James Tan, managing partner of Quest Ventures, said, “Socially impactful enterprises can also scale like high-growth startups, unlocking capital and resources to impact more people regionally and globally. Building upon the success of the first cohort, we look forward to partnering with raiSE again to propel high-potential impact businesses forward in their journey.” Successful applicants will receive:
- Up to SGD 75,000 in funding
- Access to 10 weeks of structured programs covering sustainable impact, fundraising, and go-to-market startegy
- Opportunity to raise additional funding from investors during a pitch event
- Access to Quest Family Benefits and raiSE membership benefits
- Access to Quest Ventures Founders Group and Sustainable Impact Accelerator Alumni Network
- Reactor Ventures has opened applications for its 6-month Reactor Scout Network programme. It is designed for students who are interested in a career in venture capital or student founders looking to get a deeper understanding of how VCs operate. For more information click here.
Pick & Roll
Interesting Drops From the Week
- Rising Giants is an entrepreneurship podcast in Cambodia, highlighting CEOs and founders who are making an impact. Listen to them on Spotify or Apple Podcasts.
- Brazilian company JBS is being accused of fraud after it issued USD 3.2 billion worth of “green bonds” based on their greenhouse targets, but have in fact increased emissions. [via Mighty Earth]
- Things keep getting worse for Netflix with revenue growth projected to be its slowest despite the new advertising model that was launched recently. [via Reuters]
- In a bizarre case of a media crackdown, journalists in South Sudan have been arrested for circulating footage of the President peeing his pants at road commissioning event. [via BBC]
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.