Thursday, December 19

Tag: singapore

Singapore-based Fintech Firm Instarem Raises $20 million
22Nov By Gauri SinghNo Comments
FUNDING

Singapore-based Fintech Firm Instarem Raises $20 million

Singapore based cross border fintech startup Instarem has reportedly raised an amount of over $20 million in Series C funding round. This round was led by the VC arm of Indonesian telecom operator Telkom, MDI Ventures and the fund belonging to Thai bank Kasikorn, Beacon. Along with this, existing investors such as Vertex Ventures, GSR Ventures Rocket Internet and the SBI-FMO Fund also participated in this round. The funds raised through the round will be used by the company majorly for global expansion. With this round, the total funding of the company has reached nearly $40 million to date. “We are a the stage where the color of the money is very important,” CEO Prajit Nanu said. “It is very key to us that we bring people into the round who can add value to our business.” The comp...
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Singapore-based AnyMind Raises $13.4 Million for Expansion
29Oct By Gauri SinghNo Comments
FUNDING

Singapore-based AnyMind Raises $13.4 Million for Expansion

A Singapore-based AI company AnyMind Group has secured funds amounting to $13.4 million in a funding round. This round was led by Line, the Japanese messaging app firm, and Mirai Creation Fund, which is backed by Toyota among others. The company that uses AI in online advertising, HR and marketing is planning to use these funds for its growth in Japan and other Asian markets. Other backers such as JAFCO and Dream Incubator also took part in this round. AnyMind uses AI to offer ad solutions to publishers and advertisers and also to its newer businesses TalentMind (HR) and CastingAsia, influencer marketing. Founded in April 2016 by Kosuke Sogo and Otohiko Kozutsumi the company claims to be profitable since early 2017. It said total revenue for 2017 was $26 million, up from $12.9 millio...
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Tech In Asia Lays Off Employees After Scrapping Planned ICO
28Sep By Gauri SinghNo Comments
News

Tech In Asia Lays Off Employees After Scrapping Planned ICO

Singapore-based media startup Tech In Asia lately announced an $18 per month paywall and the subscription went live this week. This was built to make the business self-sustaining after a tricky period of business in which the company observed an ICO and was forced to lay off its staff. The company made cutbacks of s many as one-third of its team after it went back on a plan to raise money from an ICO. It was in July that the company canceled its ICO plans and fired 18 of its 60 employees in Singapore. “Our goal is to give Tech In Asia back into the hands of the community and harness community forces to bring us closer to our mission of building and serving Asia’s tech communities,” the company stated. Most of the layoffs were in non-editorial business lines such as the company’s jobs ...
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Infosys Partners with Temasek, Acquires 60% Stake in Trusted Source
8Sep By Gauri SinghNo Comments
ACQUISITION

Infosys Partners with Temasek, Acquires 60% Stake in Trusted Source

Indian software service exporter Infosys Ltd has partnered with Singapore state investment firm Temasek Holdings for the purpose of accelerating up its Southeast Asia operations and strengthen its skills in the emerging technology space mainly in artificial intelligence. Both the companies will acquire a stake in Singapore-based Trusted Source Pte Ltd. Infosys will be acquiring a 60% stake in the company while Temasek Holdings will take over the remaining. Trusted Source is at present a wholly owned unit of Temasek. The company offers IT services to the investment firm and other clients. The amount of the deal is expected to be around 12 million Singapore dollars ($8.7 million). The amount will exclude adjustments for working capital, cash and net debt on closing. The deal is expecte...
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Facebook Vs Singapore Minister: A Fight You Need To Remember
28Mar By Sheldan RungasamyNo Comments
News

Facebook Vs Singapore Minister: A Fight You Need To Remember

Facebook’s Vice President of Public Policy for Asia-Pacific, Simon Milner had to appear before a Select Committee on Deliberate Online Falsehoods in Singapore where he was questioned by the Home Affairs and Law Minister K Shanmugam for almost three hours. Mr. Milner had to give explanations to Mr. Shanmugam about the allegations that Cambridge Analytica unfairly used Facebook’s data and why Facebook users were not informed about the data breach earlier. He also had to answer questions about how Facebook will reposition itself after the recent controversy surrounding them since the events happened in 2016 during the US Presidential Elections. The rest of the article is a script of the questioning between Mr. Shanmugam and Mr. Milner, which at times got rather heated up Fi...
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Singapore’s Electric Car-Sharing Programme Hits The Road
12Dec By reutersNo Comments
News

Singapore’s Electric Car-Sharing Programme Hits The Road

Singapore launched on Tuesday its first large-scale electric car-sharing programme through which the land-scarce city-state hopes to provide commuters with more transport options and steer them away from the need to buy their own cars. The service, which will be run for a decade by BlueSG, a unit of France’s Bollore Group, is a part of Singapore’s plans to reduce the number of vehicles on its roads and encourage the use of public transport.  The city-state, one of the world’s most expensive places to own a car, said in October it would not allow any net growth in its car population from February next year citing the scarcity of land and the push to develop its public transport system. Singapore, with well-maintained roads and relatively smooth traffic conditions, has also been enc...
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SoftBank Funding May Prompt Uber To Review Game Plan In Southeast Asia
21Nov By reutersNo Comments
BUSINESS

SoftBank Funding May Prompt Uber To Review Game Plan In Southeast Asia

SoftBank Group’s multi-billion dollar investment in Uber Technologies Inc opens up the possibility of combining it with other ride-hailing assets the Japanese group owns in a consolidation of a rapidly growing business across Asia, industry sources say. Uber Technologies Inc said on Nov. 12 that a planned deal with a consortium led by SoftBank and Dragoneer Investment Group was moving forward. The consortium plans to inject $1 billion to $1.25 billion into Uber, and buy up to 17 percent of existing shares in a secondary transaction. SoftBank has also been a big investor in Uber’s rivals across Asia, including Southeast Asia’s Grab, China’s DiDi Chuxing, and India’s Ola, as it works to achieve founder Masayoshi Son’s vision of a future driven by artificial intelligence and interconnec...
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Amazon Infuses $250 Mn In Indian Amazon Seller Services
16Oct By PriyankaNo Comments
FUNDING

Amazon Infuses $250 Mn In Indian Amazon Seller Services

Amazon.com has infused another amount of $250 million in its Indian based seller operations arm Amazon Seller Services Pvt. Ltd, as per the filings with Registrar of Companies. Singapore-based group entity Amazon Corporate Holdings and Mauritius-based group entity Amazon.com.incs Limited infused this amount in seller's arm. The investment was secured on September 15 this year by allocating 162 crore equity shares with face value of Rs 10 apiece, as per the source VCCircle. The funding comes in the midst of Amazon’s third leg of its festive season sales. RELATED Amazon Studios Chief Roy Price Suspended Following Harassment Allegation While announcing Amazon’s first-quarter results in April, Bezos deemed India as one of the company’s fastest-growing markets. In 2014, the ...
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From Singapore To India – A Journey of ZingoHub Crowdfunding Platform
15Oct By NitishNo Comments
Story

From Singapore To India – A Journey of ZingoHub Crowdfunding Platform

Crowdfunding is a fresh concept that has emerged as a sustenance for budding creators and innovators to turn their ideas into a corporeality. In the recent years, the crowdfunding industry has grown multifold and has helped crowdfunding projects grow into great business ventures. In the world of small biz, it has become one of the go-to choices for startups and provided them financial support to get off the ground. Simplifying the concept of crowdfunding and pushing aside the hand-wringing of startups, ZingoHub is a platform that comes to the rescue!   PRODUCT Company:                        ZingoHub Location:                         Singapore Est. In:                              2015 Team:                               Sayantan Das(Co-founder), Haider Aly-Reza(Co-...
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World’s First Autonomous Taxis Hit The Road in Singapore
25Aug By NitishNo Comments
Automobile

World’s First Autonomous Taxis Hit The Road in Singapore

AP- The world's first self-driving taxis began picking up passengers in Singapore starting Thursday. Select members of the public can hail a free ride through their smartphones in taxis operated by nuTonomy, an autonomous vehicle software startup. While multiple companies, including Google and Volvo, have been testing self-driving cars on public roads for several years, nuTonomy says is the first to offer rides to the public. Its launch in Singapore is beating ride-hailing service Uber, which plans to offer rides in autonomous cars in Pittsburgh, by a few weeks. NuTonomy is starting small - six cars now, growing to a dozen by the end of the year. The ultimate goal, company executives say, is to have a fully self-driving taxi fleet in Singapore by 2018, to help cut the number of cars o...
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Agarwal Movers Group Opens its First International Office in Singapore
1Apr By AnkitaNo Comments
News

Agarwal Movers Group Opens its First International Office in Singapore

Agarwal Packers and Movers Ltd (APML), India’s leading relocation company opened its first international office in Singapore this month. The Singapore office would facilitate relocation of homes from the country across the globe and support inbound relocations too. Agarwal Packers and Movers ltd. will also be doing local moves within Singapore as well. Their Singapore operations would be spearheaded by Abhishek Raj Singh who has been with the group for the last seven years presiding the International Division. “In India we have proven ourselves, the brand stands for quality, out of box thinking and providing customer delight. Singapore packing and moving industry market is about 1000 crore (150 million USD). We see our brand gaining immediate acceptance in being the chosen packer...
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