As the Indian market witnesses a surge in mutual fund investments primarily for long-term wealth creation, Multipl introduces a unique twist by integrating investing with lifestyle spending. This novel concept, Spendvesting, seamlessly blends investment with spending, setting a new benchmark in financial management. Multipl enables consumers to regularly invest small amounts in mutual funds for future expenditures, rewarding their loyalty through partnerships with top brands. This approach not only makes lifestyle spending more beneficial but also adds an element of fun.

Paddy Raghavan, Co-Founder of Multipl, expressed his enthusiasm: “The support from Blume and MIXI Japan will help us enhance the product experience and bring more awareness to the Spendvesting category that we are creating. This round of funding empowers us to drive forward our mission of helping Indians live an aspirational life in a financially prudent manner.”

Also Read: Brittany Crowley Joins UM Sydney as New Head of Investment

Ashish Fafadia, partner at Blume Ventures, shared his excitement: “We are excited about the opportunity to support Multipl’s innovative approach to personal finance. Spend-based investing represents a significant evolution in how individuals can manage and grow their savings. Our continued investment reflects our confidence in Multipl’s potential to create lasting value for its users.”

Tomoharu Urabe, Principal Partner at MIXI Global Investments, Inc., added, “Multipl does have a great value proposition rewarding wise consumers with dual benefits from investment and discounts. The app encourages you to go for your aspirational spending and at the same time helps you maintain a healthy habit of saving. We are excited to be a part in this journey of building a personal finance solution for the cycle of saving, investing and spending.”

Since its inception in 2020, Multipl has achieved remarkable milestones, including over 500,000 downloads, forging over 100 valuable brand partnerships, and facilitating goals worth over ₹1000 crores. The platform continues to innovate with features like ‘Open Goals,’ allowing users to invest in unforeseen future expenses through brand partnerships, and the ‘Window Shopper’ widget, which enhances savings by integrating financial planning options at the point of purchase across merchant websites and apps.

About Multipl

Founded in 2020 by Paddy Raghavan, Jags Raghavan, and Vikas Jain, Multipl stands as a pioneer in the Spendvesting space, combining the gratification of spending with investment benefits. The platform offers short-term recurring investments in mutual funds advised by SEBI-registered in-house experts, complemented by contributions from partner brands, resulting in a dual-benefit model that delivers unmatched value to its customers.

The post Multipl Secures $1.5M Funding to Revolutionize Personal Finance with ‘Spendvesting’ appeared first on Marketing In Asia.

This latest funding round brings Xurya’s total investment to over US$90 million. Remarkably, Xurya is the first renewable energy company in Indonesia to receive direct investment from both the Norwegian Climate Investment Fund and Swedfund. Moreover, this marks BII’s inaugural equity investment in Indonesia under its 2022-2026 strategy. Clime Capital and AC Ventures are returning investors, underscoring their continued confidence in Xurya’s vision and execution.

Xurya’s innovative approach of offering rooftop solar rental with no initial cost has significantly accelerated the adoption of solar energy in Indonesia’s commercial and industrial sectors. Since its inception in 2018, Xurya has introduced several industry firsts, such as utilizing IoT for remote solar operations and embedding machine learning in solar management.

Eka Himawan, Managing Director at Xurya, expressed enthusiasm about the new investment. “With support from these world-class investors, we are not only going to continue producing innovations that will support a sustainable national energy transition, but we also aim to transform into a world-class company in the next few years,” said Eka.

Indonesia, the world’s largest archipelago, is highly susceptible to the adverse impacts of climate change. The Indonesian government has committed to a roadmap aiming for net-zero emissions by 2060, emphasizing the integration of renewable energy like solar power into the national energy mix.

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Anders Blom, Senior Vice President of Renewable Energy at Norfund, stated, “Norfund is thrilled to lead this investment round in Xurya, mobilizing private and public capital into a company that is making vital contributions to the energy transition in Indonesia. The investment is a perfect fit with the mandate of the Climate Investment Fund of contributing to avoiding greenhouse gas emissions by investing in renewable energy in emerging markets.”

Gunilla Nilsson, Investment Director of Energy and Climate at Swedfund, added, “We are proud to partner with Xurya on our first direct investment in Indonesia’s renewable energy sector. With a shared mission to combat climate change in a high emitting country, and a focus on measurable impact metrics, we look forward to actively contributing to sustainable impact for people and the environment alike.”

Mason Wallick, CEO at Clime Capital, remarked, “We are proud to continue supporting Xurya following our initial investment in 2020 – our first investment after the launch of Clime Capital amid the COVID shutdown. This follow-on investment demonstrates the effectiveness of Clime Capital’s early-stage risk capital model in scaling promising clean energy companies to accelerate their growth.”

Srini Nagarajan, Managing Director and Head of Asia at BII, shared, “We are delighted to be supporting a company like Xurya, which is at the forefront of driving innovation in the commercial and industrial solar energy market in Indonesia. As the UK’s DFI, this investment reflects our commitment to sustainable development to support and strengthen our partnership with Indonesia to achieve a greener and more resilient future, especially as we celebrate the 75th anniversary of diplomatic relations between the UK and Indonesia this year.”

Helen Wong, Managing Partner at AC Ventures, commented, “The urgency to do something about climate change is clear, especially in Southeast Asia. Similarly, the investment opportunity has never been greater. We are proud to continue supporting Xurya as the largest player in Indonesia’s commercial and industrial solar energy market.”

Since its founding, Xurya has established over 170 solar projects across Indonesia, avoiding carbon emissions by 152,000 tons of CO2 annually and creating more than 1,600 green jobs. With the fresh capital, Xurya aims to avoid an additional 370,000 tons of CO2 per year.

About PT Xurya Daya Indonesia

Xurya is dedicated to transforming Indonesia’s energy landscape through innovative solar solutions. By offering no-upfront-cost rooftop solar rentals, Xurya makes it easier for businesses to adopt renewable energy. Their services encompass funding options, technical design, feasibility studies, installation, operation, and maintenance.

About the Investors

• Norfund: Norway’s investment fund for developing countries, focusing on sustainable job creation and poverty reduction.
• Swedfund: Sweden’s development finance institution, dedicated to sustainable investments in developing countries.
• Clime Capital: A Singapore-based fund management company specializing in clean energy investments in Southeast Asia.
• AC Ventures: A venture capital firm investing in tech-enabled businesses in Indonesia and Southeast Asia.
• British International Investment: The UK’s development finance institution and impact investor, committed to sustainable development.

The post Xurya Secures $55 Million Investment to Accelerate Indonesia’s Solar Energy Revolution appeared first on Marketing In Asia.

This enhanced partnership builds upon the initial RM10 million Portfolio Guarantee programme introduced in April last year. The new SME PG-i scheme not only offers a higher allocation but also expands its reach to provide working capital financing to a broader segment of underserved SMEs through Funding Societies’ leading Islamic digital financing solutions. Eligible SMEs will benefit from longer-term financing and preferential interest rates, which are the lowest within Funding Societies’ existing portfolio.

Kelvin Teo, Co-founder & Group Chief Executive Officer of Funding Societies | Modalku, emphasized the importance of collaboration in bridging the MSME financing gap, which has widened to RM290 billion in 2022, according to the Securities Commission’s 5-Year Roadmap. He stated, “It is imperative that stakeholders within the ecosystem collaborate to offer innovative solutions that can better complement traditional financing sources. On this front, we are delighted to further strengthen our partnership with CGC with this additional tranche.”

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Teo added, “The Islamic SME Portfolio Guarantee Scheme is a continuation of Funding Societies’ product roadmaps to scale our Shariah-compliant proposition to support creditworthy Malaysian SMEs of all sizes to thrive, contributing to Malaysia’s leadership in Islamic finance and ambition to be a global leader in Islamic Fintech.”

CGC’s President & Chief Executive Officer, Datuk Mohd Zamree Mohd Ishak, echoed this sentiment, highlighting the success of the initial RM10 million tranche launched in April 2023. He mentioned, “Given the success of the first tranche, I am pleased that CGC launched a second tranche of RM30 million Islamic PG with Funding Societies. This initiative is in line with CGC’s 5-Year Strategic Plan 2021-2025 and meets our objectives to partner MSMEs through life stages by providing E2E financial offerings and become a digitally savvy organisation to propel scale and speed of MSMEs’ impact.”

The SME PG agreement was signed by Wong Kah Meng, Group Chief Operating Officer, Funding Societies | Modalku and Co-Founder of Funding Societies Malaysia, together with Sean Tan, CGC’s Chief Business Officer. It was witnessed by Kelvin Teo and Datuk Mohd Zamree.

For more information on the SME Portfolio Guarantee or Funding Societies’ Business Term Financing facility, please visit Funding Societies Malaysia.

About Funding Societies

Funding Societies | Modalku is the largest unified SME digital finance platform in Southeast Asia. Registered with the Securities Commission Malaysia (SC) and licensed in Singapore, Indonesia, and Thailand, Funding Societies operates across Southeast Asia. Backed by prominent investors including Khazanah Nasional and SoftBank Vision Fund 2, the FinTech company provides business financing to MSMEs, supported by individual and institutional investors.

About CGC

Established in 1972, Credit Guarantee Corporation Malaysia Berhad (CGC) bridges the gap between financial institutions and MSMEs by guaranteeing financing for underserved entrepreneurs. With over 51 years of experience, CGC has transformed into a financially sustainable institution, supporting MSMEs with innovative financing solutions.

For more information, visit CGC Malaysia.

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Founded by cosmetic dermatologist Dr. Renita Rajan, CHOSEN^® focuses on developing innovative skincare products through patents and cutting-edge formulations while expanding into IoT-led skincare solutions. Now in its fourth year, CHOSEN^® plans to utilize the funds to grow its headcount and enhance its supply chain capabilities.

“This seed round provides us with the flexibility to strategically expand our operations and explore new areas for growth. Our next step is to explore partnerships with B2B sectors such as hospitality, health, travel, and leisure to expand our distribution channels.  Our goal is to secure pre-series funding of $10 to $20 million later this year,” said Dr. Renita Rajan, Founder of CHOSEN^®.

Earlier this year, CHOSEN^® was featured in Peak XV’s cohort of women-led startups, marking a significant milestone with the $100,000 grant. Over the past 4 years, CHOSEN^® has developed a multi-channel ecosystem of highly active cosmetic products tailored for Indian skin types. CHOSEN^® currently offers 34 SKUs, with 12 more in the pipeline and additional products slated for launch within the next 18 months.

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With an LED mask design patent and four additional patents in progress, CHOSEN® recently launched SAFESCREEN® TINTENSE Tinted Sunscreen Lotion, an outstanding tinted sunscreen featuring India’s first-ever combination of non-nano zinc, non-nano titanium, and non-nano iron oxide. This made-for-India, pregnancy, nursing, and reef-safe sunscreen offers high-level protection against HEVL, UV, and IR rays while providing flawless coverage, containing up to 93.04% natural, biodegradable content. Additionally, there are several ongoing innovative projects, including a melanin lab and IoT-driven personalized skincare technology.

“At CHOSEN^®, we are committed to creating long-term, safe, and effective wellness solutions. Our products are designed to provide lasting benefits, reflecting our dedication to quality and innovation,” Dr. Renita Rajan added.

With a headcount of 130 and plans for further recruitment, CHOSEN® is poised for significant growth, projecting a 2x increase in scale this fiscal year.

About CHOSEN^®

CHOSEN^® is a pioneering beauty and wellness brand in India, deeply rooted in dermatological expertise and a commitment to customer satisfaction. Their products, carefully formulated with high-quality ingredients and validated by scientific research, are designed to meet the diverse needs of individuals of all ages and skin types. Embracing inclusivity, CHOSEN^® offers safe formulations, including specialized lines tailored for pregnant and nursing mothers, ensuring that everyone can indulge in self-care without compromise. Sustainability is the core ethos, reflected in their eco-friendly packaging and emphasis on natural, biodegradable ingredients. Through vibrant social media engagement, educational events, and strategic partnerships with experts, CHOSEN^® fosters a sense of belonging and support within its community. By prioritizing customer relationships and community building, CHOSEN^® not only enhances its brand reputation but also ensures that every individual feels valued and empowered on their journey towards beauty and wellness.

The post CHOSEN® Raises $1.2 Million in Seed Funding to Expand Skincare Innovations appeared first on Marketing In Asia.

Range Protocol, a unified liquidity provisioning platform, today announced the launch of Skate, the universal application layer that empowers apps to run on thousands of chains with one state. 

Designed with an intent-centric approach, Skate aims to efficiently address the application fragmentations as a single hub for all code deployment across all chains. Backed by leading web3 players, including EigenLayer, Polygon, Manta, Axelar, Biconomy, Pendle, A41, Vertex, Navi, Galxe, Pontem and more, Skate will deliver its vision with faster finality and universal application scope, paving the way for its mainnet launch within the year. 

In today’s multi-chain landscape, applications face pressing needs to deploy, adapt and maintain across an increasing number of chains. Skate introduces the concept of a Universal Application Scope, where essential applications are developed collectively and maintained in a shared pool accessible to all chains — regardless of its underlying Virtual Machine environment. With Skate, users and developers are able to efficiently and instantly access thousands of chains by interacting with one application instance.

Siddharth Lalwani, Co-Founder and CEO of Range Protocol shared, “The rise of modularity powered innovations such as improved throughput and reduced transaction costs. However, it also came with its own set of challenges, most notably, application fragmentation. Skate introduces the concept of the Universal Application Layer, where essential applications are developed collectively, and maintained in a shared pool accessible to all chains. This ensures foundational needs of builders and users are met efficiently, allowing each chain to focus on creating value-added services and laying the building blocks for a modular future.”

Move from Duplication to Innovation: One Skate, One State

Skate is the only intent-centric application layer in the ecosystem, enabling applications to run across thousands of chains and different tech stacks at the same time through a single interface. Moving past duplication of deployments, Skate works as a hub for deploying, developing and maintaining a singular version of smart contracts while servicing users across diverse chains. 

One of the key innovations of Skate is the embedding of interoperability within the application logic, reversing the legacy approach of building apps first and integrating interoperability afterwards. Skate ensures that all applications are created with interoperability as a foundational component, streamlining the development process and removing the necessity to bridge assets, but also significantly enhances the user experience by providing a fluid, interconnected ecosystem where transactions and information flow effortlessly between chains.

Also read: Peg Stablecoins Like UST To Less Volatile Tokens: Huobi Research Institute

Aside from the underlying interoperability networks, Skate will be connected to all the blockchains through Fast Finality Network, secured by EigenLayer actively validated service (AVS), to send state attestations from Skate with sufficient trust minimized assumptions. This brings instantaneous cross-chain intent-driven settlements and reduces slippage when making trades while removing unnecessary complexities from an end-user perspective.

Securing the Modular Future, Backed by Web3 Pioneers

The launch of Skate is supported by buy-ins from leading web3 players, including EigenLayer, Polygon, Manta, Axelar, Biconomy, Pendle, A41, Vertex, Navi, Galxe, Pontem and more. Forged by the same team of financial engineers and web3 developers behind Range Protocol, a unified liquidity provisioning platform covering key DeFi asset classes, the Skate team brings deep cumulative experience from leading companies like Altonomy, Point72, Bybit, Certik and Citigroup. Skate’s launch also follows Range Protocol’s $3.75M seed round last year, led by HashKey Capital and Nomad Capital. In the coming months, Skate aims to introduce Testnet Campaigns to community members with unique incentives. To keep up to date on Skate and its upcoming testnet campaigns, follow their Twitter: https://twitter.com/skate_chain.

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About Range Protocol and Skate

Underpinned by robust on-chain trading infrastructure, Range Protocol is a unified liquidity provisioning platform. Harnessing advanced expertise and professional strategies, Range Protocol covers key DeFi asset classes through its vault offerings. Combining the best of automated market makers (AMMs) and request-for-quote (RFQ), Range Protocol empowers sound decision-making and optimized strategies for the next generation of investors — with no intermediaries needed. 

Forged by a team of financial engineers and web3 developers with extensive crypto trading proficiencies, Range Protocol brings deep experience from leading companies like Altonomy, Point72, Bybit, Certik and Citigroup. Its most recent $3.75M seed round was led by HashKey Capital and Nomad Capital.

Range now expands into Skate, the universal application layer that empowers apps to run on 1000s of chains with one state. Skate was born with the realization of the limitations of the legacy on-chain trading infrastructure, which deploys repetitive blocks on every new chain. Underpinned by innovation, Skate delivers fast finality across all chains, secured by EigenLayer actively validated service (AVS), and acts as a single hub for all code deployments. Separating assets from pricing, Skate introduces the concept of a Universal Application Scope, where essential applications are developed collectively and maintained in a shared pool accessible to all chains — regardless of its underlying Virtual Machine environment. Solving for dApp/chain-liquidity fragmentation in a modular web3 landscape, Skate ensures foundational needs are met efficiently, allowing each chain to focus on creating unique, value-added services.

For more information, please visit:

Website: http://skatechain.org/

Twitter/X: https://twitter.com/skate_chain  

The post Unified Liquidity Platform Range Protocol Unveils Skate: The First Universal Application Layer Powering Apps to Run on All Chains With One State appeared first on Marketing In Asia.

Key Highlights:

1. Dino Morea’s The Fresh Press raises a Pre-Series A round from Gruhas Collective Consumer Fund, positioning it for rapid growth in the cold-pressed juice market. The Fresh Press is also a part of the first Gruhas Gusto FoodTech Accelerator Programme.

2. The Fresh Press chain of cold-pressed juice bars/outlets with 36+ stores across the country. This infusion of capital will support the expansion of their QSR and shop-in-shop presence and build their team and marketing

3. The Fresh Press aims to capitalize on the rapidly growing juices market which is expected to reach USD 1.5 billion by 2030 with India experiencing a 25.43% growth rate. The brand aims to become a leading organized player in the cold-pressed juice industry.

2nd April 2024, Nationwide: The Fresh Press, a cold-pressed juice brand based out of Mumbai has successfully raised a Pre-Series A round from Gruhas Collective Consumer Fund (GCCF). The brand was co-founded by Mithil Lodha and Rahul Jain, where actor-entrepreneur Dino Morea came on board as both an investor and co-founder. Since its inception in 2018, The Fresh Press boasts over 36 stores nationwide. The brand has strategically partnered with PVR, INOX, and Reliance to strengthen its market presence and accessibility to a larger audience.

As of March, this year, The Fresh Press is also a part of the first cohort of Gruhas Gusto- a FoodTech accelerator program by Gruhas, Jubilant Family Office, DLF Family Office, and Anthill Ventures

In the coming months, the brand aims to expand its market presence in Southern cities such as Hyderabad, Bangalore, and Chennai, while also targeting key regions like Gujarat, Rajasthan, and Delhi for nationwide coverage. The goal is to establish 1000 Quick Service Restaurant (QSR) stores, solidifying The Fresh Press’s position as a leading juice brand in India, committed to offering 100% natural, sustainable products for a healthy lifestyle.

Globally, the cold-pressed juices market is expected to reach USD 1.5 billion by 2030, growing at a rate of 7.54% annually. In India, the market is booming with a staggering 25.43% growth rate from 2021 to 2028, fueled by increasing retail presence and consumer demand for nutritious fruit juices. With a growing focus on health and a decline in the popularity of colas and carbonated beverages, there is an evident trend toward healthier options. The Fresh Press aims to cater to the evolving Indian Consumers and emerge as a significant player in the healthy beverage industry.

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Regarding the investment, Dino Morea stated, “With the support of GCCF and Gusto Accelerators, we envision expanding our footprint nationwide, revolutionizing the way people perceive and consume nutritious beverages. We anticipate that the current funding will definitely help in building a little bigger team since expansion is a major part of this fundraise. We aim to utilize it as effectively as possible and maximize results for smoother operations.” Adding to this, Mithil Lodha, Co-founder The Fresh Press said, “We strive to be a leading brand promoting healthier lifestyles, making a significant impact on individuals’ health journeys. Our vision is exponential growth, becoming a prominent name in the healthy beverage industry.”

Nikhil Kamath, Co-founder Gruhas, “Our commitment to The Fresh Press reflects our support for the growing health consciousness among Indian consumers. As people become more mindful about what they eat, I want to support innovative homegrown entrepreneurs who are leading the charge in the health and consumer sectors. It’s time we take control of our own well-being and pay attention to our nutrition intake. The Fresh Press has done incredibly well over the years, and we are committed to helping them expand even further.”

Vijay Subramaniam, Founder and Group CEO of Collective Artists Network, emphasized the significance of the partnership, stating “We are enthusiastic about our involvement in The Fresh Press journey and its commitment to promoting health through quality cold-pressed juices and organic offerings. We believe that with its strategic expansion plans and focus on empowering healthier lifestyles, The Fresh Press is well-positioned for sustained growth and a substantial impact on the market.”

The fresh fruit juice market in India is significant with a size of USD 13 billion. The industry is rapidly growing towards health-conscious consumer choices and a preference for natural, non-carbonated beverages. With India’s tropical climate driving demand, the brand’s 5-year vision anticipates exponential growth.

About The Fresh Press

The Fresh Press, a unit of TFPF Private Limited, is a Cold-pressed Juice Company committed to promoting health and wellness through its offerings. Focusing on delivering the best and

healthiest juices, smoothies, shakes, fruit platters, and desserts, The Fresh Press celebrates the flavors and organic goodness of natural ingredients. Their mission is to empower individuals to lead healthier lives by providing nutritious and delicious options. Currently available in Mumbai, Delhi, Pune, and Bhopal, The Fresh Press continues to expand its reach and cultivate meaningful partnerships with leading retailers

Website | Instagram

About Gruhas Collective Consumer Fund (GCCF)

GCCF is a VC fund that brings a fresh approach to consumer ventures with unparalleled insight and targeted capital infusion. The fund is a partnership between Gruhas and Collective Artists Network. Gruhas’ expertise complements the creative amplitude of Collective Artists, offering a multifaceted platform for ventures to grow, connect, and make an indelible mark. They are focused on early-stage investments in the new-age consumer-focused brands, building for India.

Linkedin

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Under this new moniker, Fiuu will operate as an autonomous subsidiary of Razer Inc., championing the mission to cater to the evolving payment needs of both businesses and individuals. This strategic repositioning underscores the company’s dedication to delivering cutting-edge payment solutions globally.

A pivotal element of this rebranding initiative is the transition of leadership roles within the company. Lee Li Meng will transition from his position to take on the mantle of Executive Chairman of Fiuu, effective March 1, 2024. Eng Sheng Guan, a veteran in the payments industry with over 25 years of experience, steps in as the new Chief Executive Officer. Eng’s appointment is seen as a harbinger of growth and innovation for Fiuu, given his extensive background and proven leadership in the sector.

“Our rebrand goes beyond just a name change; it embodies our vision to Power Future Payments. We strive to create seamless and empowering payment experiences that propel commerce into a new era. With Southeast Asia’s digital economy booming and projected revenue set to hit US$295 billion by 2025, our commitment to innovative payment solutions gains even greater significance,” Lee Li Meng stated, emphasizing the strategic significance of this rebranding.

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From its inception, Razer Fintech has been at the forefront of the digital payments revolution in Southeast Asia, setting benchmarks and pioneering initiatives that catered to the accelerated need for digital payment solutions, especially highlighted during the Covid pandemic in 2020. As Fiuu, the company remains steadfast in its commitment to innovation, security, and a user-centric approach, aiming to redefine the digital payments experience.

The new brand identity of Fiuu is vibrant, reflecting a youthful and agile spirit, with brand colors that signify speed and dynamism. This cohesive identity, along with the strategic focus embodied in the name Fiuu, signals the brand’s evolution and its readiness to tackle the future challenges of the fintech landscape. The motto ‘Powering Future Payments’ encapsulates Fiuu’s commitment to delivering technologically advanced solutions, ensuring trust and reliability in every transaction.

As Fiuu embarks on this new chapter, stakeholders can anticipate enhancements in payment interfaces, logo updates, and a series of improvements designed to elevate the user experience. With a vision set on leading positive change within the fintech industry, Fiuu is poised to remain a beacon of innovation and reliability in the realm of digital payments.

ABOUT FIUU

Fiuu, formerly known as Razer Fintech, along with its division, Razer Merchant Services (RMS), is the financial technology arm of Razer Inc. Established in April 2018, Fiuu has grown to become one of the largest O2O (offline to online) digital payment networks in emerging markets and has processed over billions of dollars in total payment value. Fiuu recorded a Total Payment Volume (TPV) of over US$6.6 billion for FY2023, solidifying its position as one of the largest payment processors in Southeast Asia.

Fiuu, a leading B2B (business-to-business) solution encompasses

• Payment Services: Payment processing gateway supporting global scheme cards and over 110 payment methods, powering online and offline payments for global and regional blue-chip merchants in SEA.
• Reload Services: SEA’s largest offline payment network of over 1 million physical acceptance points across SEA. Reload services also extend point-of-sale services (such as bill payments and telco reloads), cash-over-counter services including fulfilment of e-commerce purchases, distribution of third-party point-of-sale activation (POSA) cards, and merchant acquiring services for third-party e-wallets.

For more information, please visit our website at fiuu.com.

Merchants interested in payment services, may email us at sales@fiuu.com.

Merchants interested in reload services, may email us at reloads@fiuu.com.

The post Fiuu Emerges: The Next Evolution in Digital Payments Announced by Razer Fintech and RMS appeared first on Marketing In Asia.

With this fresh capital, Bummer is set on a strategic path to widen its footprint across the Indian subcontinent, targeting Tier 2, 3, and 4 cities to solidify its market presence. The brand’s ambitious blueprint includes the creation of over 10,000 offline touchpoints within the next five years, spanning Exclusive Brand Outlets (EBOs), Multi-Brand Outlets (MBOs), and Large Format Stores (LFSs). This multi-channel offline presence aims to diversify revenue streams and enhance brand visibility across the nation.

Investments will also be channelled towards team development, focusing on expanding the team and honing skills to navigate market challenges adeptly. This strategic approach underscores Bummer’s commitment to building a $100 million company within five years, with aspirations to achieve EBITDA breakeven in just 12 months.

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Bummer’s immediate focus will remain on penetrating the Indian market over the next 24 months, while also casting an eye towards international horizons. The brand envisages South-East Asia and the Middle East as potential markets, planning to conduct smaller-scale pilots to explore these opportunities.

Sulay Lavsi, Founder and CEO of Bummer, expressed his enthusiasm about the funding, stating, ” We’re embarking on an elevating chapter for Bummer, and this Pre-Series A1 funding round marks a significant milestone in our journey. The support and leadership from Gruhas Collective Consumer Fund and Fluid Ventures fuel our vision of expanding with a skilled managerial team. In an industry marked by minimal growth and dominated by a few major players for decades, we see ourselves as a disruptor of this category. Together, we are committed to propelling the brand’s growth with skilled teams, a strong trustful brand image and we’re set to revolutionize this stagnant category, elevating its fashion appeal along with sustainability.”

Abhijeet Pai, Co-founder of Gruhas & General Partner- GCCF, shared his optimism about Bummer’s disruptive potential, commenting, “Team Bummer has crafted a brand that resonates with the young at heart and comfort first consumer in a rapidly evolving domain: the underwear and loungewear space. Bummer is disrupting the longstanding monopoly held by a handful of players in the men’s underwear Category. We believe that Bummer’s innovative approach, coupled with its quality products and edgy new-age design is perfectly positioned to capture the Gen-Z market. With our first investment from the GCCF fund, we look forward to supporting brands that actively shape the future of their respective industries.”

Vijay Subramaniam, Founder and Group CEO of Collective Artists Network, highlighted the cultural alignment between the organizations, stating, “At Collective Artists Network, we are committed to being the torchbearers of pop culture in India. Bummer’s approach resonates harmoniously with our ethos, and we firmly believe that the creator economy is poised for explosive growth. We are enthusiastic about contributing to their narrative in the consumer space and shaping the future landscape of creative expression.”

This infusion of funds propels Bummer into an exciting growth phase, underscoring its mission to offer sustainable, comfortable, and fashionable options to its audience, thereby reshaping the Indian innerwear landscape.

About Bummer

Bummer, founded in 2020 by Sulay Lavsi, is a game-changer in the Indian innerwear industry featured on Shark Tank India – Season 1, this D2C startup redefines innerwear with ultra-soft, eco-conscious comfort wear. Crafted from BeechWood Trees’ micro modal fiber, Bummer blends comfort, durability, and style. Breaking industry norms, it embraces bold prints and a vibrant online presence. Embrace Bummer – where comfort meets creativity, challenging norms and celebrating individuality.

Website | Instagram

About Gruhas Collective Consumer Fund (GCCF)

GCCF is a VC fund that brings a fresh approach to consumer ventures with unparalleled insight and targeted capital infusion. The fund is a partnership between Gruhas and Collective Artists Network. Gruhas’ expertise complements the creative amplitude of Collective Artists, offering a multifaceted platform for ventures to grow, connect, and make an indelible mark. They are focused on early-stage investments in the new-age consumer-focused brands, building for India.

Website

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Embarking on a New Chapter: The Introduction of Liquidity Hooks

In the dynamic world of decentralized finance (DeFi), INIT Capital is poised to address one of the sector’s most pressing dilemmas: liquidity. The forthcoming launch of “Phase 2: Liquidity Hooks” on 28th February marks a pivotal step towards fostering sustainable growth for DeFi startups. This initiative underscores INIT Capital’s commitment to spearheading innovation and enhancing the overall functionality and accessibility of the DeFi ecosystem.

Charting a New Course in DeFi Solutions

Tascha Punyaneramitdee, the visionary behind INIT Capital, shared insights into the venture’s strategic direction, stating, “With the introduction of Liquidity Hooks, we are innovating money markets by creating a holistic liquidity solution for DeFi startups and users, allowing for the overall growth of the ecosystem. Liquidity Hooks are designed to bring greater levels of composability, addressing the information asymmetry in the space and reducing the barriers to entry for DeFi startups. Our recent fundraising is a testament to our mission of improving the foundational building blocks of the DeFi ecosystem by making it more sustainable and beneficial for all. At INIT Capital, we want to pave the way for a future where we can foster a more accessible, efficient, and interconnected ecosystem. We are not just a money market, for lending and borrowing, but also a go-to platform for users to access DeFi yield and trading strategies.” This innovative approach aims not only to streamline the lending and borrowing landscape but also to significantly lower the entry barriers for emerging DeFi startups, enriching the ecosystem with innovative financial solutions.

Liquidity Hooks: Transforming the DeFi Startup Landscape

Liquidity Hooks, introduced by INIT Capital, are set to revolutionize the way DeFi startups approach liquidity. Offering composable plugins that can be seamlessly integrated into various DeFi strategies, Liquidity Hooks aim to alleviate the liquidity sourcing challenges that have long hampered the growth of DeFi protocols. This initiative is paving the way for a more robust and sustainable DeFi ecosystem, where startups can focus on innovation rather than liquidity constraints.

Expanding Horizons: INIT Capital’s Vision for a Multi-Chain Future

With ambitions to become a multi-chain Liquidity Hook money market, INIT Capital has commenced its journey by launching on the Mantle Network. This move not only signifies INIT Capital’s expansion ambitions but also its commitment to contributing to the growth and diversification of the DeFi ecosystem.

Igneus Terrenus, Public Liaison of Mantle, expressed his enthusiasm, stating, “We are delighted to see INIT emerge as one of the dApps with the highest TVL in the Mantle Ecosystem. The longer-term and higher-concentrated liquidity sources facilitated by INIT help afford DeFi protocols the optionality of smoother and less aggressive token emission strategies, prime borrowing activities and lending APY to flourish, engender a flywheel for sustainable growth in DeFi, and bolster Mantle’s position as a yield powerhouse.”

Also read: Ethereum’s Evolution: Introducing Fuel Labs’ “Rollup OS” for Next-Level Blockchain Functionality 

A Bright Future for DeFi Innovation

Backed by prominent investors and armed with a clear vision, INIT Capital is well-positioned to make a significant impact on the DeFi sector. By making liquidity more accessible and fostering a more interconnected ecosystem, INIT Capital is not just solving immediate challenges but also laying the groundwork for a more sustainable and innovative DeFi landscape.

Ken Deeter, General Partner at Electric Capital, captured the sentiment, saying, “We’re excited about the potential of INIT Capital to service the liquidity needs of a new generation of DeFi protocols. Tascha and team are leading the wave of new protocols that are designed to address the unique needs of the burgeoning ecosystem.”

For those intrigued by INIT Capital’s innovative solutions, the platform is set to unveil its first Liquidity Hook on 28th February, marking a new chapter in the evolution of DeFi.

The post INIT Capital’s $3M Seed Funding Fuels DeFi Sector Innovation with Groundbreaking Liquidity Hooks appeared first on Marketing In Asia.

Founded in January 2020 in Chennai by serial entrepreneurs Ramkumar Govindarajan and Ramkumar Ramachandran, Wiz helps exporters and importers in emerging markets book and manage their cross-border shipments on its tech platform with e-commerce-like convenience. Wiz’s AI-powered platform offers instant capacity discovery, dynamic pricing, optimised routing, door to door tracking, and automated customizable document workflows, saving countless hours for shippers.

WIZ Freight raised in March 2022 a Series A funding of INR 275 Crores (USD 36 million) in a mix of equity and debt led by Tiger Global with participation from Axilor Ventures, Foundamental, Arali Ventures, Alteria Capital and Stride Ventures.

WIZ had closed a $3.5m seed round led by Axilor Ventures in August 2021. Arali Ventures and Foundamental had also participated in the round along with angel investors Ramakant Sharma, Co-founder of LivSpace and Daniel Richner, Chairman of M+R Spedag Group, a Swiss based logistics conglomerate.

With the funding at this juncture, WIZ is well positioned for expansion of its overseas operations, continued development of the Indian operations and establishing its place as a prominent leader in the logistics sector. The organization is committed to providing effective, client-focused tech-first logistics solutions.

Speaking about the plans and strategy, Ramkumar Ramachandran, Co-founder, Chairman, WIZ, mentions, “WIZ is set to double its workforce at the Tech and R&D Center in Chennai, currently home to 200 employees. The primary focus is on scaling up the tech platform for enhanced efficiency. The tech team has demonstrated agility with the successful launch of Eylrx.AI, showcasing a commitment to cutting-edge tech products. More innovations are already in the pipeline.”

Also Read: Mazars’ Innovative Odyssey: Redefining the Audit and Accounting Landscape

Speaking about the expansion plans, “WIZ, with a current presence in five countries, WIZ is gearing up to expand into five more countries with 10 new locations, across Saudi Arabia, Vietnam, China, Malaysia, and parts of Europe. WIZ has acquired the India leg of M+R Spedag Logistics and ATZ Shipping and is looking to expand in the logistics and warehousing space via small and medium acquisitions. 

The Revenue in FY23 was ~Rs 1325 crore. This is a 300% increase from FY22 revenue, and WIZ is expecting to maintain a similar revenue run rate in FY24”. 

WIZ has recently signed a MoU with the Tamil Nadu government for a proposed investment of 300 Crores in the state over the next five years and is expected to create 2000 more jobs.”, said Ramkumar Govindarajan, Co-founder and CEO, WIZ.

WIZ Freight’s Series B investment not only strengthens its financial position but also propels the company into an exciting phase of expansion, innovation, and strategic partnerships.

Wiz currently has a team of ~850 employees across 30 locations in India and 5 countries outside of India. With a network of more than 200 carriers and vendors, the startup is now successfully serving more than 1500 businesses, including Adani, Mahindra, Tata, Acer, Reckitt, Kraft and Skechers, which use the WIZ platform to ship thousands of tons of cargo over land and sea each month.

The company has successfully inaugurated a one-of-a-kind tech and R&D center in Chennai, which houses about 200+ employees including both tech and operations, which acts as a central control tower for all its global shipments. The company’s cutting-edge, technologically advanced command centre in Chennai keeps track of thousands of shipments being executed live each month, guaranteeing on-time delivery and 24-hour customer support.

Comments from Nippon Express on the investment “By investing in Wiz, a company strong in digital forwarding services in India and other emerging markets, the NX Group will bolster its own global forwarding business and accelerate its DX initiatives.” Ambit was the financial advisor to Wiz Freight on the Series B fund raise.

About Wiz Freight

Wiz Freight (Radar ventures Private Limited) is the fastest growing digital cross-border supply chain startup in emerging markets. Started in 2020, we have rapidly grown to a team of 850+ with offices across 30+ locations.  We use technology to solve hard problems in the USD 2 Trillion global supply chain space, helping businesses in emerging markets win globally with competitive cross-border logistics. Demand/Supply forecasting, dynamic pricing, AI-driven rates/schedules parsing, IoT based visibility solutions, route/cargo optimization models, OCR based document processing are some of the areas where Wiz is applying deep technology solutions to create impact in an otherwise archaic low-tech industry.

For more information visit: https://wizfreight.com/

LinkedIn: https://www.linkedin.com/company/wizfreight/ 

The post WIZ Freight’s Series B Funding Surge: A Strategic Leap in Cross-Border Logistics appeared first on Marketing In Asia.

Malaysian firm Meals in Minutes has announced a major milestone, obtaining seed investment of USD 1.5 million. This is a tremendous achievement within the culinary sector.A private investor and the prestigious 500 Global venture capital and startup accelerator have joined together to provide this much needed capital, marking a turning point in the company’s growth strategy. The funding will be used to expand the startup’s reach in Malaysia and Singapore, and most importantly, to set up shop in the UK.

Focused on Strategic Growth and Culinary Innovation

Vin Vin Khu, the Chief Financial Officer of Meals in Minutes, sheds light on the company’s strategic direction: “The funding will be focused on achieving key milestones such as successfully launching in the UK market, product development, and building a robust foundation for future growth across all markets.” 

Established in 2020 by Brandon Lim and Khiara Mia, Meals in Minutes introduced an innovative concept in the meal kit sector. Their unique frozen vacuum-packed ready-to-cook meals are crafted for convenience, enabling consumers to prepare gourmet meals in a mere 15 minutes. These meals are distinguished by their commitment to quality, being flash-frozen, portion-controlled, non-GMO, devoid of artificial additives, and fully compliant with HALAL, HACCP, and ISO 22000 standards.

Envisioning Simplified Gourmet Cooking

Brandon Lim, the Malaysian-born founder and CEO, articulates the company’s vision: “Meals In Minutes was founded with the vision of simplifying cooking for individuals leading busy lives, offering them the opportunity to enjoy high-quality, clean, and nutritious meals without the associated hassle and requisite culinary skills. Additionally, recognising the considerable advantages of this concept, we anticipated its positive impact on business and cafe owners who aspire to provide food services but lack the necessary equipment and resources to operate a fully equipped kitchen.”

Addressing the F&B Industry’s Manpower Challenges

The F&B sector in Malaysia, projected to grow annually by 6.85% from 2024 to 2028, is currently grappling with a significant manpower dilemma. This challenge stems from a dearth of young talent entering the field, slow processing of foreign worker permits, and a high employee turnover rate, averaging around 75%. Meals in Minutes presents a solution to these issues by enabling businesses to optimize kitchen operations and consistently produce gourmet meals without the need for a fully equipped kitchen or a professional chef, thereby resolving the manpower shortage without compromising on quality.

Also read: Sportradar Revolutionizes Fan Engagement with Launch of Innovative FanID

Commitment to Sustainability and Environmental Responsibility

Khiara Mia, co-founder of Meals in Minutes, emphasizes the company’s dedication to sustainability: “Our advanced meal kits not only offer sustainable solutions to F&B businesses but also tackle environmental concerns like food wastage and excessive packaging. We’re also collaborating with CleanHub to prevent plastic pollution by collecting plastic waste for every product sold and are committed to delivering a genuine impact with every purchase. Sustainability remains a pivotal factor in shaping our future business strategies.”

Expanding Reach and Collaborative Ventures

Currently, Meals in Minutes products are available in Malaysia at premium grocery stores and are supplied to Loud Speaker, a Malaysian karaoke chain. The company has also engaged in collaborations with celebrities like Joe Flizzow to create unique offerings such as Joe’s Burger. With ongoing expansion and an openness to funding and partnership opportunities, Meals in Minutes is poised to redefine the convenience and quality in the culinary world.

With its innovative and adaptable approach, Meals in Minutes stands out in this ever-changing market. Recent financial success is evidence of both the company’s fiscal expansion and its ability to shake up the beverage and food business. With its upcoming launch in the UK and plans for future development, Meals in Minutes is poised to revolutionise the way gourmet meals are enjoyed and eaten, whether at home or in the office. This Malaysian firm is making waves in the international food sector with its unwavering commitment to sustainability, quality, and convenience. They envision a future where effortless elegance and exquisite cuisine live in perfect harmony.

The post Malaysian Culinary Innovator “Meals in Minutes” Raises $1.5M for Global Expansion appeared first on Marketing In Asia.

Deciphering the Deal

At the heart of BYJU’S success is a suite of innovative learning tools that have positioned it as a pioneer in the startup realm. Yet, the ambition to broaden its influence and tighten its grip on the market necessitates a considerable influx of capital. The proposed $300M is more than just an infusion of funds; it represents a shift in the company’s governance, offering investors a more substantial stake in the decision-making process.

Investor’s Gamble

For those holding the purse strings, this offer is as intriguing as it is complex. Injecting $300M into BYJU’S means more than just financial input; it signifies a deeper involvement in the company’s strategic direction. This could translate into a more pronounced voice in operations or even seats at the boardroom table. Investors now find themselves balancing the allure of potential returns with the intricacies of increased engagement.

Echoes in EdTech

The dialogue between BYJU’S and potential financiers isn’t happening in a vacuum. It mirrors a larger pattern within the edtech sector, where substantial investments are increasingly sought to drive growth and competitive edge, especially in the dynamic Asian markets. The results of these negotiations might very well set a new standard for investment and influence within the industry.

BYJU’S Growth Narrative

BYJU’S journey has been characterized by rapid growth and innovation, propelling it to the forefront of app-based education. Its evolution has been marked by notable expansions and forays into international arenas. Yet, to sustain and amplify this momentum, substantial capital is required, and the $300M in discussion is pivotal for this next phase.

Also read: A Twist in the Tale: Can Byju’s Survive its Own Success Story? 

Navigating the Future

As BYJU’S continues its quest to secure $300M, it stands at a significant crossroads. This potential financial boost, coupled with the increased influence for investors, could herald a period of transformative change. Observers and stakeholders alike are keenly watching, wondering how these developments will affect the company’s ethos, strategy, and market standing.

Facing the Challenges and Opportunities

This financial maneuver brings with it a spectrum of challenges and opportunities. On one side, BYJU’S could gain the leverage needed for aggressive expansion and innovation. On the other, it faces the delicate task of balancing increased external oversight with its entrepreneurial spirit.

A Defining Moment for BYJU’S

In these critical discussions to raise $300 million, BYJU’S is navigating what could be a defining moment. The outcomes will not only shape its future but also resonate across the edtech landscape and the Asian market. As the company charts its path through these negotiations, the industry waits with anticipation, ready to dissect the implications of this substantial financial play. Whether this will mark a milestone of growth for BYJU’S or a complex challenge to surmount remains to be seen. What’s evident is that the Asian market, along with the global edtech community, will be watching closely as BYJU’S unfolds the next chapter in its remarkable journey.

The post BYJU’S Seeks Major Funding: A $300M Bid for Control appeared first on Marketing In Asia.

Funding as a Catalyst for Growth and Omnichannel Presence

This infusion of capital stands as a powerful endorsement of RADC’s remarkable trajectory and future potential in the beauty domain. It is set to accelerate the brand’s growth in the Indonesian market, furthering the development of its omnichannel presence, a strategic move in today’s digital-first landscape.

Visionary Ambitions: Elevating Indonesian Cosmetics on a Global Scale

This funding represents more than just capital; it’s a clear alignment with RADC’s visionary ambitions. The brand is poised to leverage this investment to expand its distribution networks within Indonesia and across ASEAN countries, thereby enhancing its product offerings with a continued emphasis on innovation and technology.

SWC Global’s Perspective on the Investment

Wendi Xiang, Vice President of SWC Global, shared her insights, underscoring their confidence in Indonesia’s economic future and RADC’s role in it. ” We see it rapidly becoming a premier, home-grown beauty brand in Indonesia. Our investment and support go beyond capital; we aim to connect RADC with our Chinese consumer portfolios and help RADC build up supply chain support in China.”

RADC’s Ascending Trajectory Since Its Inception

RADC’s journey, starting in 2017, has been one of consistent growth and innovation. Beginning with a foundational investment from AC Ventures, the brand has carved a niche for itself in the beauty industry, offering high-quality, ethical beauty solutions. The Series A funding comes on the heels of substantial growth, fueled by expanding distribution channels, a growing e-commerce presence, and robust customer loyalty.

Tiffany Danielle’s Vision for RADC’s Expansion

Tiffany Danielle, RADC’s Co-founder and a Forbes 30 Under 30 entrepreneur, shared her enthusiasm for the future. “We are thrilled to announce our latest partnership with SWC Global and DSGCP. This collaboration represents a significant step in elevating RADC’s market presence and operational sophistication in Asia Pacific. Together, we are committed to unlocking new opportunities and delivering wonderful cosmetics products to meet the evolving needs of our customers in Indonesia and beyond.”

Also read: Reliance Jio Introduces Innovative Plans Including JioTV Premium Access

DSGCP’s Perspective on the Investment Decision

Sameer Mehta, the Head of Southeast Asia at DSGCP, elaborated on their commitment to partnering with innovative consumer brands. “Our core mission is to partner with visionary founders of consumer brands. With the RADC team, we recognized entrepreneurs who demonstrate an unwavering dedication to their customers, consistently delivering top-tier products. Their skill in cultivating a nationally loved brand, marked by outstanding capital efficiency and a strong presence across multiple sales channels, impressed us. It is this blend of dedication, efficiency, and market presence that solidified our decision to support RADC as a standout player in the dynamic beauty care industry.”

RADC’s Strategic Expansion and Talent Acquisition

In line with its ambitious growth plans, RADC is actively expanding its team across various departments. The company seeks to attract top talent for positions such as a senior HR executive, creative director, and a general trade lead, reinforcing its commitment to fostering a diverse and dynamic work environment.

AC Ventures’ Ongoing Support for RADC

Michael Soerijadji, Founder and Managing Partner at AC Ventures, commented on their continued partnership with RADC. “We are proud to continue supporting Rosé All Day Cosmetics. Their innovative and inclusive approach in the beauty and skincare industry aligns with our ethos of backing transformative companies from their early days. Their ability to adapt to a fast-moving market and respond well to unexpected challenges sets them apart as entrepreneurs in a time when great examples are needed more than ever.”

The post Rosé All Day Cosmetics Achieves Remarkable $5.41 Million Series A Funding appeared first on Marketing In Asia.

Originating from founder Swagatika Das’s deep-rooted commitment to holistic wellness, Nat Habit maintains its steadfast dedication to its ‘100% Natural Care’ ethos. Presently, the brand boasts an Annual Recurring Revenue (ARR) of 82Cr. The strategic allocation of these newfound resources is expected to significantly bolster Nat Habit’s growth, focusing on new product categories, retail expansion, R&D enhancement, and talent cultivation.

Aslo read: TikTok’s Astounding Leap: Surpassing a $10 Billion Threshold in Consumer Expenditure

Swagatika Das, the entrepreneurial spirit behind the brand, stated, “Natural or ayurvedic care is not merely a trend for us; it is a lifestyle or habit we would like consumers to adopt for a safer, longer and happier life. With the recent Series B funding, we aim to double down on our efforts in terms of building a stronger community and making larger strides towards making Nat Habit the go-to brand for every Indian’s daily personal care needs.’’

Pankaj Makkar, Partner at Bertelsmann, lauded Nat Habit’s innovative approach to personal care, stating, “Nat Habit has personal care to a new level by offering fresh products using proprietary techniques and natural ingredients. We are excited by their unique products that have led to immense customer love and strong retention. This investment is a sign of our confidence in Nat Habit’s potential and our relationship with its founders.”

Dipanjan Basu of Fireside Ventures also echoed strong support for Nat Habit’s mission and potential in the evolving Indian BPC market. “India’s beauty & personal care market is on a steep growth trajectory with multiple emerging needs and gaps of consumers. We are extremely impressed with what Nat Habit is trying to achieve in this market, with its disruptive products & strong commitment to goodness. This certainly is a brand that’s here to win. Fireside will continue to support such visionary purposes & entrepreneurship – it also strongly aligns with our fund’s purpose of building responsible brands that do good for the environment and people.”

The Evolving Industry and Nat Habit’s Business Model

The Indian beauty and personal care (BPC) industry has seen a notable shift towards clean and natural ingredients, driven by increased consumer awareness and demand. This trend is reflected in Statista’s projections, anticipating the Indian Natural Cosmetics market to reach US $0.90bn by 2023, growing at an annual rate of 3.52% (CAGR 2023-2028).

Since its inception in 2019, Nat Habit has been a pivotal player in this shift, committed to making genuine natural personal care accessible to every Indian home. With a robust R&D foundation, NatHabit crafts proprietary formulations from fresh ingredients, emphasizing authenticity in its product range. The brand’s growth trajectory includes a substantial customer base, a daily shipping volume of 15,000 units, and an extensive product line of 35 offerings.

Looking Ahead: Nat Habit’s Future Roadmap

With the Series B funds, Nat Habit is poised to expand its product portfolio, enhance its offline presence, and elevate brand awareness. Additionally, a portion of the investment will enable early-stage investors to exit, yielding notable returns.

As Nat Habit prepares for a significant phase of expansion and growth, Marketing In Asia has reached out for further insights into their future strategies and plans, underscoring our commitment to delivering the most comprehensive and current information in the fast-paced world of marketing and business innovation.

The post Nat Habit’s Series B Funding Triumph: Catalyzing Growth in India’s Natural Beauty Realm appeared first on Marketing In Asia.

In an encouraging development for the Gulf Cooperation Council’s (GCC) tech scene, Blink, a Saudi Arabia-based Software as a Service (SaaS) startup, has successfully garnered $2.1 million in seed funding. This investment marks a pivotal moment, signifying a leap towards digital integration in the restaurant industry across the region.

Transforming the Restaurant Landscape

The restaurant sector, long anchored in traditional, physical customer interactions, is now pivoting towards digital platforms. Blink Software as a Service (SaaS) startup raises $2.1 million in a seed funding, positioning itself at the forefront of this digital shift. Blink’s innovative online ordering platform is expected to revolutionize the way GCC restaurants operate, reducing their dependence on external delivery aggregators.

The Significance of the Funding Round

This financial milestone, led by 500 Global and Global Founders Capital, transcends mere monetary gain for Blink. It represents a broader shift in regional investor sentiment, showing a burgeoning belief in the region’s tech potential. The funding not only fuels Blink’s future endeavors but also validates its vision to empower restaurants with cutting-edge technology.

Aslo read: Embracing the Future: Range Rover’s Electric Revolution Begins with Exclusive Waiting List

Blink’s Goal: A New Era for Restaurants

Blink’s core objective is to innovate and provide customer-focused solutions. The startup seeks to diminish restaurants’ reliance on third-party delivery services, offering them autonomy over their online ordering systems. This strategy promises to enhance operational efficiency, boost profits, and offer a more tailored experience to diners.

Ripple Effects in the GCC Tech Ecosystem

Blink’s seed funding is a significant catalyst in the GCC’s tech ecosystem. It underscores the region’s growing stature as a center for tech innovation and entrepreneurship. As Blink Software as a Service (SaaS) startup raises $2.1 million in a seed funding, it sets a precedent for digital transformation in the region, particularly in the restaurant industry.

Navigating Challenges and Setting Benchmarks

Though the path ahead is promising, Blink faces several challenges. Adapting to the diverse market dynamics, regulatory environments, and customer preferences in the GCC requires a nuanced approach. However, Blink’s robust platform and customer-first philosophy equip it to meet these challenges and set new industry standards.

A Bright Future Ahead

With this funding, Blink is poised to expand across the GCC, tapping into a market eager for digital transformation. As Blink Software as a Service (SaaS) startup raises $2.1 million in a seed funding, it stands ready to lead a digital revolution in the restaurant industry, holding great promise for the future.

The seed funding of Blink is a landmark event in the GCC’s tech journey. It reflects the rising confidence in the tech sector and highlights the immense potential of digital solutions in sectors like the restaurant industry. As Blink embarks on this transformative journey, it carries with it the aspirations of a new wave of tech entrepreneurship in the GCC.

The post Blink’s SaaS Innovation Garners $2.1M in Seed Funding appeared first on Marketing In Asia.

The Investment Magnet

India’s fintech landscape has seen a meteoric rise, especially in the wake of the pandemic. The push towards digital financial services has not only been a necessity but a strategic move to capitalize on a market ripe for digital disruption. But as with any rapid growth, there are challenges and opportunities that lie ahead. The numbers speak for themselves. In just the first half of a year, India’s fintech startups attracted a staggering $2 billion in investment. But what’s driving this influx of capital? The answer lies in the innovative solutions these companies bring to the table.

Take Razorpay, for instance. What began as a mere payment gateway has now blossomed into a comprehensive financial product suite. Their journey to achieving unicorn status, with a valuation of $3 billion in 2021, is a testament to the potential of fintech in India.

Similarly, Cashfree and Paytm have expanded their horizons, offering a plethora of services that cater to the diverse needs of the Indian populace.

Beyond Transactions

But it’s not just about payments. The fintech sector in India is multifaceted. Mswipe is venturing into the Buy Now, Pay Later (BNPL) space, while Axio is capitalizing on the e-commerce boom with checkout finance. The projected growth in digital payments, from $133 billion in 2022 to an estimated $153 billion in 2023, further underscores the sector’s potential.

A Nation’s Financial Awakening

Yet, beneath these impressive figures lies a deeper narrative. A story of a nation striving for financial inclusion, of startups bridging the credit gap that has long plagued India’s micro, small, and medium enterprises (MSMEs). The heartening rise of UPI transactions, the democratization of financial products through the JAM trinity, and the projected growth of the wealthtech market to $237 billion by 2030 all paint a picture of a brighter financial future for India. India’s fintech industry’s market size is projected to reach approximately $150 billion by 2025. The total addressable market for the Indian fintech industry is estimated to be $13 trillion by 2025.

Navigating the Regulatory Maze

However, it’s not all sunshine and rainbows. With rapid growth comes the inevitable scrutiny. Regulators are becoming more vigilant, and fintechs will need to tread carefully, ensuring compliance while continuing to innovate.

Investor Sentiments Revealed

The distribution of funding in the fintech sector also offers a glimpse into investor sentiment. Payments, capturing a 44% share of the total funding in 2021, emerged as the dominant fintech segment. This is indicative of the country’s digital transformation and the growing demand for digital payment solutions.

More Than Just Numbers

India’s fintech journey is not just about numbers and growth percentages. It’s about the transformation of a nation’s financial habits. The rise of digital lending platforms, insurtech solutions, and wealth management apps signifies a shift in how Indians perceive and interact with financial services. The traditional banking model, characterized by long queues and cumbersome paperwork, is giving way to seamless, digital-first experiences.

Roadblocks on the Digital Highway

While the growth trajectory is promising, challenges abound. Data security concerns, regulatory hurdles, and the need for financial literacy are pressing issues. Fintechs will need to prioritize user education, ensuring that the masses not only adopt digital solutions but do so with an understanding of the risks and benefits.

India on the Global Fintech Map

India’s fintech evolution has not gone unnoticed on the global stage. International investors are pouring in, recognizing the country’s potential to be a global fintech hub. Collaborations with global fintech giants, knowledge exchange programs, and the influx of foreign capital are setting the stage for India to be a frontrunner in the global fintech race.

Also read: Qashier Secures $10 Million in Series A Funding: Pioneering the Future of Fintech in Southeast Asia

India stands at the cusp of a fintech revolution. The road ahead is filled with challenges and opportunities. But with innovation, adaptability, and a customer-centric approach, India’s fintech sector is poised to redefine the global financial landscape. The world watches with bated breath as India charts its course in the digital financial realm.

The post Fintech Pioneers Reshaping India’s Financial Future appeared first on Marketing In Asia.

Founded by the quartet of Nick Ramsay, George Oliver, Pantha Roy, and Yaniv Bernstein in 2021, Singapore’s tech sensation, Circular, is revolutionising the way consumers engage with high-end electronic devices. Their unique subscription model is catching the eye of investors and tech enthusiasts alike, exemplified by their latest seed funding accomplishment.

Star-studded Investment Round

Circular’s recent seed funding round, amassing a colossal US$7.6 million, has the industry buzzing. AirTree Ventures took the lead, with YC Continuity Fund, Global Founders Capital, Partech Ventures, and January Capital all jumping on board. Furthermore, a galaxy of angel investors, featuring the founders of known brands like PropertyGuru, Funding Societies, Stashaway, Carousell, and Nutmeg, backed this ambitious venture. As the dust settles on this round, Circular now boasts a valuation at a staggering US$30 million.

Pioneering a New Way to Tech

Circular’s allure lies in its offer of premium tech device subscriptions, complete with a generous damage protection plan covering up to 90% of repair costs. Subscribers enjoy cutting-edge gadgets sustainably without breaking the bank. And, keeping pace with consumer demands, Circular has introduced gaming products to its portfolio in Singapore.

Future Expansion in Sight

This funding injection is slated for aggressive expansion. Not only is Circular deepening its footprint in Singapore, but it’s also eyeing the Australian market. Their B2B offering, “Circular for Business”, is tailored for startups and SMEs, and it promises to bridge the gap in these segments. Reflecting on its 3X growth over the past year, Circular is optimistic about mirroring this growth in both Singapore and Australia in the upcoming months.

Disrupting the APAC Electronics Scene

50 million. That’s the staggering number of premium tech devices sold in APAC in 2022. But many of these devices end up underutilized, representing a goldmine opportunity for Circular. As pioneers in the tech subscription niche in APAC, Circular is poised to reshape the consumer electronics industry.

By focusing on maximum utility and minimal wastage, Circular ensures each device lives out its full lifecycle. This, combined with their offering of refurbished devices and industry partnerships, signifies a step towards sustainability. For consumers, the cost-benefit is palpable; for instance, subscribing to an iPhone 15 Pro Max 256GB through Circular can save subscribers up to SG$955 as opposed to direct purchases.

Also read: Mohammed Shami Teams Up with PUMA’s Elite

Voices from the Helm

Nick Ramsay, the driving force behind Circular, stated, “The problem of tech device underutilisation is huge, and Circular aims to help curtail it with our subscription model. By keeping products in use for longer – and keeping precious materials out of landfills – we hope to gradually shift patterns of consumption and reduce our collective burden on the environment. What’s most exciting for us is that we see many of our customers quickly come back for second and even third devices – indicating they’ve moved their device needs entirely to subscriptions and that they’re fully embracing the Circular Economy.”

Craig Blair, Founder and Partner at AirTree, voiced his enthusiasm, “Circular is at the heart of perennial and emerging consumer trends, such as the shift towards sustainability, changing ownership preferences and the desire to have the latest tech. On top of that, Circular’s founding team has an incredibly strong and complementary skill set across company building, product, engineering, marketing, and logistics that makes us excited to lead their Seed round and see where they take the future of the circular economy.”

The post Circular, Y Combinator-Backed Tech Subscription Powerhouse, Bags US$7.6M in Seed Funding appeared first on Marketing In Asia.

• Funding Breakdown: The latest $60 million infusion comes from notable investors such as Mitsubishi UFJ Financial Group (MUFG), BNP Paribas Cardif’s insurtech fund, and Beams Fintech Fund.
• Previous Investments: Earlier in 2023, InsuranceDekho attracted an impressive $150 million from heavyweight investors like Goldman Sachs Asset Management and TVS Capital Funds.
• Utilization of Funds: The company has earmarked these funds for various growth initiatives, including marketing campaigns, tech platform enhancement, and notably, expanding its distribution networks in India’s rural regions.
• Company’s Genesis: Founded in 2016 by dynamic duo Ankit Agrawal and Ish Babbar, InsuranceDekho offers a platform where consumers can effortlessly compare and choose insurance policies that best fit their needs.
• Business Model: Operating under the “agency vertical” model, the company collaborates with over 100,000 partner agents across India. These agents sell policies via InsuranceDekho, which in turn earns a commission from each sale.
• Performance Metrics: In 2022, InsuranceDekho reported nearly 19 billion rupees (approximately $228.2 million) in premiums. The firm has set an ambitious target of 36 billion rupees (around $432.5 million) for this year.
• Consumer Reach: To date, over 6 million consumers have availed services from InsuranceDekho.
• Future Endeavors: The company has its sights set on the reinsurance market and plans to augment its team by adding 500 to 700 members by the end of the year.

The Evolving Landscape of India’s Insurance Sector

India’s insurance sector stands as a cornerstone of the nation’s financial framework, offering an array of products and services designed to mitigate risks and ensure financial security for its vast population. Governed by the Insurance Regulatory and Development Authority of India (IRDAI), the sector operates under stringent regulations to guarantee fairness and stability in its dealings.

Also Read: Mukesh Ambani Reclaims Title as India’s Richest, According to Hurun India Rich List 2023

The trajectory of the Indian insurance industry is promising. Forecasts suggest a robust growth at a Compound Annual Growth Rate (CAGR) of 15% over the forthcoming five years. This optimistic outlook is fueled by a combination of factors:

• Rising Awareness: As the Indian populace becomes more informed, there’s a noticeable uptick in the understanding of the importance of insurance as a safety net.
• Economic Growth: With increasing disposable incomes, more individuals and businesses are now in a position to invest in insurance products.
• Supportive Government Initiatives: The Indian government has been rolling out policies that are conducive to the growth and expansion of the insurance sector.

However, it’s not all smooth sailing for the industry. The sector grapples with a set of challenges that could potentially hamper its growth:

• Low Penetration: Despite the vast population, a significant portion remains uninsured, indicating a low penetration rate of insurance products.
• Investment Shortfalls: There’s a noticeable lack of substantial investment in diverse insurance products.
• Public-Sector Dominance: The overwhelming presence and deteriorating financial health of public-sector insurance entities pose a challenge to the overall health of the sector.

The future of India’s insurance sector looks promising, it is imperative for stakeholders to address the existing challenges to harness its full potential and ensure long-term sustainability.

The post InsuranceDekho Secures $60M in Series B Funding, Eyes Expansion in Rural India appeared first on Marketing In Asia.

In a move that underscores the rising prominence of telehealth in the region, the Indonesia-based startup, Good Doctor, has clinched an impressive $10 million in its Series A funding. This development not only propels the startup to newer avenues but also highlights the growing confidence in digital healthcare solutions across Asia.

Key Insights:

• Good Doctor achieves a $10 million milestone in Series A funding.
• The funding round witnesses leadership from MDI Ventures.
• Post-investment, Grab, SoftBank, and MDI Ventures have become minority stakeholders.
• Following the funding, the startup sharpens its focus on the Indonesian demographic.

Delving Deeper into the Investment

The recent round of funding, spearheaded by MDI Ventures, positions Good Doctor to further its reach and solidify its footprint in the Indonesian market. This investment stands out as it amalgamates some of the tech and investment world’s heavyweights. With the inclusion of Grab and SoftBank as minority shareholders alongside MDI Ventures, Good Doctor is geared up to tap into the vast reservoir of resources and knowledge these titans bring.

What This Signifies for Indonesia

The realm of telehealth, once considered a peripheral sector, has seen a meteoric rise, more so in the aftermath of the global health crisis. For a nation like Indonesia, with its sprawling archipelago and myriad healthcare challenges, digital health solutions such as those provided by Good Doctor can be transformative. The firm’s renewed emphasis on Indonesia, post this funding, speaks volumes about the nation’s potential as a ripe market for telehealth offerings.

Good Doctor’s Path Forward

Armed with fresh capital and the endorsement of industry stalwarts, Good Doctor is poised for an exciting journey ahead. The firm’s immediate goals encompass enhancing its services, broadening its user base, and ensuring that quality healthcare reaches even the most remote corners of Indonesia.

Furthermore, the alliance with Grab, a renowned name in Southeast Asia, can usher in novel opportunities for Good Doctor, ranging from integrated services to potential collaborations.

Also read: PM Anwar Advocates for Enhanced AI Focus in Tertiary Education

The funding milestone achieved by Good Doctor is not merely a reflection of the startup’s promise but also an indicator of the overarching optimism surrounding telehealth in Asia. As the continent navigates its unique healthcare challenges, pioneering solutions like those of Good Doctor’s can chart the course for a more connected and healthier tomorrow.

With the support of industry frontrunners and a clear roadmap, Good Doctor is all set to redefine healthcare in Indonesia. For the broader Asian landscape, this might just be a preview of telehealth’s promising future.

The post Bright Future For Indonesia’s Telehealth Sector As Good Doctor Gains $10m Funding appeared first on Marketing In Asia.

Earlier today, Koltiva, the trailblazing startup rooted in Indonesia’s sustainable farming landscape, made headlines as it sealed a remarkable seven-figure Series A funding. The round was spearheaded by the renowned early-stage venture capital juggernaut, AC Ventures, and saw enthusiastic participation from industry heavyweights such as Silverstrand Capital, Planet Rise, Development Finance Asia, Blue 7, and the esteemed impact investor in Southeast Asia, The Meloy Fund.

A Vision for Comprehensive Traceability

With a fresh inflow of capital at its helm, Koltiva aims to enhance its software-as-a-service offering, crafted exclusively for multinational corporations. Their mission? To ensure impeccable supply chain traceability right from the inception – the seed, to its culmination – the table.

Koltiva’s offerings are twofold. In the realm of agri-tech, it introduces innovative solutions such as producer profiling, plot mapping, and a robust training infrastructure powered by its seasoned agronomist team. Parallelly, in the climate domain, Koltiva is steering the creation of products tailored for greenhouse gas evaluations, climate-conscious farm support, and risk-centric alerts.

In an era where the clamor for traceability in agri-products is gaining momentum, Koltiva is pioneering an evolution. Their state-of-the-art software illuminates the journey of food – from raw materials, farming operations, distribution processes, to its final consumers. This trailblazing feature is pivotal for multinationals, particularly when the origin of their food supply is predominantly smallholder producers scattered across Indonesia and other operational territories of Koltiva.

Addressing Global Regulatory Demands

The recent unveiling of the EU’s Deforestation-Free Products Regulation (EUDR) has thrust Koltiva’s offerings into the limelight. With over 50,000 EU businesses now bound by this stringent regulation, there’s an increased urgency for industries such as cocoa, coffee, and palm oil to ensure traceability. Koltiva’s solution rises as an indispensable asset for these sectors.

However, Koltiva isn’t merely a service; it’s an era of transformation. The company hosts a comprehensive web and mobile application suite, focusing on diverse activities ranging from producer registration and deforestation mapping to monitoring greenhouse gas emissions.

A Global Footprint from Indonesian Roots

With its foundational roots anchored in Indonesia, Koltiva’s influence spans the globe. Collaborating with producers across 52 nations, nearly half of these affiliations are within Indonesia, while others extend to nations including Brazil and the Ivory Coast.

Manfred Borer, the visionary Co-Founder & CEO of Koltiva, elucidated, “Koltiva goes beyond traceability. By providing comprehensive seed-to-table traceability, we empower corporations to wisely navigate the dynamic landscape of evolving regulations and sustainable practice compliance while enhancing smallholder producers’ livelihoods. We aim to foster an ecosystem benefiting global brands while also uplifting the grassroots level of the supply chain. We envision a world where transparent and sustainable trade is standard.”

Also read: Rentas Peninsular 2.0: We for She – A Rallying Drive by Practical Classic Drivers to Spotlight Male Allyship & Combat Gender-Based Violence

Koltiva’s platform has already garnered the trust of over 1 million producers and an impressive 6,800 businesses, underlining the massive demand for its avant-garde food supply chain tracing and climate tech innovations.

Adding to the chorus of endorsements, Helen Wong, Managing Partner at AC Ventures, remarked, “As multinational businesses lean more toward sustainability, Indonesia-based Koltiva is poised to become a major player in ensuring transparent supply chains. By bolstering the livelihoods of small-scale farmers in emerging markets and helping them to adapt to climate change, Koltiva is a great example of how modern tech can reshape conventional industries, deliver global impact, and build a more environmentally sustainable future for generations to come.”

The post Koltiva Secures Seven-Figure Funding: Redefining Supply Chain Transparency for Agribusinesses appeared first on Marketing In Asia.

Singapore’s own fintech prodigy, Qashier, announced a groundbreaking accomplishment today—securing a whopping $10 million in a Series A funding round. The capital infusion is set to propel Qashier’s already impressive growth in Southeast Asia’s key markets, while also facilitating its leap into untapped international terrains.

Co-led by Delivery Hero Ventures and IFP Securities, the investment round also saw participation from Antler Elevate and Cocoon Capital. This pivotal moment comes against a backdrop of explosive growth in the fintech landscape and emphasizes the crucial need for accessible, efficient tools for businesses, irrespective of size.

A Commitment to Merchant Success

Qashier CEO Christopher Choo expressed his elation, stating, “We’re thrilled to have secured this new round of funding, which will allow us to continue to innovate and expand our reach. Our mission is to empower small and medium-sized businesses with the tools they need to succeed, and we believe that our products are the perfect solution for restaurants and retailers looking to grow and thrive in today’s digital economy.”

A Panoramic Ecosystem

Already considered one of the most reliable POS (Point-of-Sale) and payment providers in the region, Qashier has a reputation for offering affordable and user-friendly tools to businesses across various industries. Since its launch in 2019, the startup has processed over $1 billion in transactions, assisting more than 6,000 businesses across Southeast Asia.

In a recent accomplishment, Qashier rolled out its Qashier app—a freemium POS and payment solution that quickly gained traction among SMEs, amassing more than 12,000 downloads within three days of its public beta launch.

Qashier President Franklin Zhao Liang elaborated on the company’s vision: “In a rapidly evolving business landscape, our goal is to provide our customers with a tech-forward solution that anticipates their needs. With this new round of investment, we will be able to continue advancing our products and offerings to enable our customers to be as productive and efficient as they need.” 

Next-Gen Hardware and Event-Driven Solutions

But the Qashier app isn’t the company’s only offering turning heads. The company also recently unveiled the Qashier X2 and the lightweight QashierXS—smart POS terminals that ingeniously consolidate POS and payment solutions into a single, sophisticated device. Moreover, Qashier’s event management solutions have transformed the industry, powering renowned events like SneakerCon and Gastrobeats in Singapore, the BLACKPINK concert in Malaysia, and the Wanderland Music and Arts Festival in the Philippines.

A Global Vision Supported by Investors

Alex Browne, Principal at Delivery Hero Ventures, said, “We are excited to support Qashier in their ambition to become the leading all-in-one platform to help SMEs bring their business online and accept payments. Many of our restaurant partners globally use siloed software tools in their operations, which are often expensive and don’t interact with each other. Qashier’s end-to-end solution enables restaurants to focus on serving their customers and growing their business. We believe that Qashier has a substantial opportunity to become a leading multi-product provider for SMEs in the APAC region.”

Also read: RCJ Group Expands Its APAC Operations by Acquiring Brand Asia: A Strategic Move to Bolster Integrated Marketing Services

A Future Unveiled

With headquarters in Singapore and operational offices in Malaysia, the Philippines, and Thailand, Qashier shows no signs of slowing down. With its newfound capital, the company aims to escalate its research and development efforts, crafting even more innovative solutions for businesses not just in Southeast Asia but globally.

For more in-depth information on how Qashier can revolutionize your business landscape, head over to Qashier’s website.

The post Qashier Secures $10 Million in Series A Funding: Pioneering the Future of Fintech in Southeast Asia appeared first on Marketing In Asia.

The primary aim of the partnership is to establish industry-wide standards and facilitate technological breakthroughs in the blockchain arena, further fostering the growth of the Web3 sector. This strategic move positions Hailstone Labs on the path to becoming one of the foremost Web3 companies in Asia, laying the foundation for an exemplary Web3 infrastructure. 

Hailstone Labs’ CEO, Raymond Wong, expressed his enthusiasm regarding the partnership, noting, “We are excited to invest in the OneDegree Group, the pioneer of digital asset insurance.” 

OneDegree Group’s co-founder and CEO, Alvin Kwock, addressed the unique nature of the company, which differentiates it from traditional insurers. He said, “Our diverse expertise in insurance, blockchain, cyber security, and Web3 operations allows us to understand the risks associated with digital assets effectively.” 

He added, “We look forward to partnering with Hailstone Labs, a genuine market innovator, to stimulate the blockchain industry’s growth and deliver a positive impact on this burgeoning field.” 

Over the past two years, Hailstone Labs and OneDegree Group have undertaken comprehensive Web3 risk taxonomy research in collaboration with the Society of Actuaries (SOA). Their primary goal was to transform the digital asset insurance industry. 

In light of recent policy developments in Hong Kong related to blockchain and Web3, obtaining insurance has become an operational necessity for centralised digital asset firms. Such firms need to maintain their status as regulated entities, thus signifying the growing importance of digital asset insurance. 

The post Hailstone Labs Backs OneDegree Group in a Move to Pioneer Digital Asset Legalisation  appeared first on Marketing In Asia.

Grover’s comments were made in response to a post by Nithin Kamath, co-founder of Zerodha. Kamath had expressed concerns over corporate governance issues becoming increasingly apparent in Indian startups, attributing shared responsibility to the venture capital ecosystem. He pointed out that both founders and VCs tend to overestimate the size of the Indian markets, which is at the core of the problem.

Also Read: Journey Down Memory Lane: Iconic Indian TV Shows of 90s & 2000s

Kamath elaborated, stating that India, though a rapidly growing economy with the potential to become an economic superpower in the future, isn’t there yet. He stressed the need for a substantial increase in the size of the target market (Total Addressable Market, TAM) by revenue to validate the current startup ecosystem valuations in the country.

Kamath added, “Most VCs have probably miscalculated this and possibly oversold the India opportunity to their investors (Limited Partners, LPs). In a market as small as ours, with limited opportunities for mergers and acquisitions (M&A), achieving large exits within seven years (the expected lifecycle of a fund within which founders are supposed to provide exits) is challenging.”

In light of these insights, Ashneer Grover emphasis on the urgent need for an evolution in the Indian startup ecosystem becomes even more pertinent. The focus needs to shift away from blaming founders and towards a more detailed examination of the role of VC investors. This will ensure a more balanced and sustainable growth trajectory for Indian startups, ultimately fostering a healthier ecosystem.

This news update is based on reports from Business Today.

The post Rapid Evolution Required in India’s Startup Ecosystem, Says Ashneer Grover appeared first on Marketing In Asia.

When Supercritical launched in August 2021, it exposed the hard-hitting truth that the carbon footprint of the technology sector was significantly larger than that of the entire aviation industry. This revelation underscored the urgency for tech firms to reduce their carbon emissions, a problem that Supercritical is specifically designed to solve. 

At its core, Supercritical serves as a marketplace for advanced carbon removal technologies. The company’s strategy is similar to that of Tesla, which initially targeted a niche market with its electric sports car before expanding its offering to include more mainstream models. Supercritical, in a similar vein, provides companies with access to innovative carbon removal solutions, helping catalyze their growth and increase their potential for large-scale implementation. 

Using Supercritical’s platform, companies can buy “fully-vetted and qualified” carbon removal credits, meeting the industry standard of the Science Based Targets initiative (SBTi). The recent funding will allow Supercritical to extend its services to a larger range of tech companies. 

Supercritical’s CEO, Michelle You, shared the company’s vision: “Every company in the world will have to get to net zero emissions if we’re going to stay below 1.5C of warming. There is no way of getting to net zero without buying permanent carbon removal to net out the remaining emissions.” This ethos has already garnered attention and support from companies such as Tide, XTX Markets, Veriff, Multiverse, and IMC. 

Also Read: Steering the Climate Debate: How India Is Shaping Its Environmental Future

The need for carbon dioxide removal (CDR) is paramount and recognized globally. Traditional carbon offsets have been widely criticized as ineffective, and in some cases, fraudulent. CDR offsets, however, contribute to net-zero goals by actively removing carbon dioxide from the atmosphere. 

Despite the necessity of CDR, its capacity is currently lagging. The Intergovernmental Panel on Climate Change (IPCC) found that only around 600,000 tonnes of CDR were purchased in 2022, a mere fraction of the 10 gigatonnes required annually by 2050. Supercritical is determined to address this shortfall by focusing on “high-quality, vetted, durable CDR projects,” such as biochar, direct air capture, and enhanced weathering, among others. 

In May, Supercritical inked a long-term agreement with Carbo Culture, a company that transforms carbon-containing biomass into biochar at a commercial scale. Such strategic alliances contribute to the company’s mission of sequestering CO2 in innovative ways. 

In the increasingly important domain of carbon removal, the launch and subsequent funding of Supercritical offer a beacon of hope for tech companies and other industries aiming for net-zero emissions. Backed by prominent venture partners and angel investors, the startup is shaping a future where businesses can thrive while also ensuring the health of our planet. 

The content of this article is sourced from TechCrunch. 

The post Supercritical, The Game-Changer in Carbon Removal, Secures $13M in Funding: The New Hope for Tech Companies appeared first on Marketing In Asia.

Slice Group, founded in 2022, is a pioneer in offering CRM solutions that foster robust, efficient, and long-term relationships between brands, agencies, and influencers. The company’s platform furnishes a comprehensive suite of tools allowing brands and agencies to work with a larger number of creators without escalating the need for additional manpower. 

Following this seed funding, Slice Group has outlined a strategic roadmap that includes product refinement, accelerated platform development, and an aggressive sales strategy complemented by enhanced recruitment efforts. Their blueprint also entails the incorporation of advanced financial features, including invoice financing and a digital wallet for facilitating payments amongst brands, agencies, and content creators. 

At the helm of Slice Group are Jesse Bouman, the CEO, formerly head of innovation and technology at Mindshare Worldwide, and Nesha Hanzdima, the COO, founder of Indonesian production house Violad Creative Studio. Drawing on their significant experience in managing brand campaigns, they have built a platform addressing the inefficiencies of the creator economy. Their aim is to empower creators to make data-driven decisions and establish sustainable relationships with brands. 

Also read: Pilon’s Successful Top-up Funding: Amplifying Supply Chain Financing Innovations in Southeast Asia

In a rapidly digitalizing world where influencer marketing is becoming a mainstream channel for brands to reach audiences globally, Eddy Chan of Intudo Ventures emphasizes the necessity for localized market knowledge. He believes that Slice Group’s understanding of Indonesia’s creator economy will deliver significant value to both brands and creators. 

The positive sentiment is echoed by Aldi Adrian Hartanto, partner at Arise, who observes that creators typically grapple with classic informal economy issues, like access to financing and operational inefficiencies. Hartanto is confident that Slice Group’s product and leadership expertise can empower Indonesian creators at every scale, from micro to mega influencers. 

This news comes in the wake of Indonesia’s proactive attempts to attract global talent and investors through its impending golden visa programme, as reported by The Jakarta Post. The programme is expected to bring more job opportunities to the local market by luring talent in the areas of digitalization, health, research, and technology. 

This news piece is based on an article by marketing-interactive.com. 

The post Slice Group Secures $645K Seed Funding to Boost Influencer Marketing in Indonesia  appeared first on Marketing In Asia.

This latest round of undisclosed funding follows a triumphant seed round, wherein Pilon garnered a whopping USD 5.2 million. The funds will fuel Pilon’s mission to revolutionize the local business landscape by enhancing operations in the Philippines and scaling its innovative supply chain financing solutions.

Also Read: Breaking Stereotypes: The Imperative for Diverse Representation in Advertising 

Kaya Founders, an investment firm esteemed for its support of visionary entrepreneurs in the Philippines and Southeast Asia, places a strategic bet on Pilon. With a focus on digital firms capable of disrupting industries and transforming lives, Kaya Founders offers strategic counsel, resources, and mentorship to turbocharge growth.

Pilon’s Co-founder and CEO, Eddie Lee, shared his excitement about the successful funding round and the continued backing of Kaya Founders. He stated that the investment not only solidifies Pilon’s financial footing but also reaffirms their disruptive vision. The funds will be deployed to enrich Pilon’s digital product suite, broaden its reach in the Philippines and Cambodia, and venture into fresh territories like Vietnam, Thailand, and Indonesia.

To support its expansion, Pilon has assembled a dedicated Manila-based team to provide comprehensive assistance to partner companies. Pilon’s user-friendly features, such as live chat and introductory walkthroughs, promise a seamless experience for business owners, irrespective of their tech proficiency.

Kaya Founders’ partner, Lisa Gokongwei-Cheng, expressed faith in Pilon’s pioneering solutions, noting their potential to redefine transaction dynamics for individuals and businesses. With the fresh capital, Pilon is geared to boost its growth, widen its influence, and offer heightened convenience and efficiency to consumers and businesses.

Additionally, Pilon is making strides in integrating buyers from key industries in the Philippines, including Retail/Super Marts, Construction & Development, and the F&B sector. This strategic move is anticipated to reinforce Pilon’s market standing and promote synergistic alliances between buyers and suppliers.

Also Read: ChatHub Extension Revolutionizes AI Interaction, Integrates Multiple Chatbots 

Since its 2020 inception, Pilon has consistently facilitated digital transformation for suppliers, corporate buyers, and financial institutions. It has pioneered in digitizing business processes and promoting financial inclusion through optimized invoice financing. Notably, Pilon’s system has found success with Robinsons Bank and Universal Robina, part of the Gokongwei family conglomerate, one of the Philippines’ largest.

Robinson Bank’s president, Elfren Antonio S. Sarte, lauded Pilon’s solution for its efficiency and effectiveness, heralding it as a significant step in their innovation journey. As Pilon gears up to collaborate with other business units within the group, the future seems bright for this game-changing FinTech firm.

This news is based on a report by IANS.

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Over the ensuing three years, the lab is set to engineer solutions addressing labor scarcity in sectors like manufacturing and intralogistics, that pose significant hurdles to industry growth. The lab is particularly focused on crafting cutting-edge systems tailored to support Industry 5.0, featuring technologies such as grip-adjusting robots capable of handling fragile or potentially dangerous materials and smart sensing systems that can energize autonomous mobile robots.

The inception of this advanced robotics lab reflects another milestone in the collaborative efforts of NTU and Delta Electronics. The duo, in 2016, spearheaded the Delta-NTU Corporate Laboratory for Cyber-Physical Systems, which nurtured innovations in smart manufacturing and learning. It was expanded in 2018 to include a broader range of research activities.

The Cyber-Physical Systems Lab has since made remarkable strides, filing 17 patents, of which eight have been issued, and publishing over 200 papers in prestigious journals and conferences. The fruits of their labor have been adopted at scale across industries, comprising an autonomous logistics robot-driven smart navigation system and analytics technology that enhances learning effectiveness.

The post NTU Singapore and Delta Electronics Initiate $17.8M Laboratory Venture appeared first on Marketing In Asia.

The Mastercard Index of Women Entrepreneurs reveals that only 7 in 100 Indian entrepreneurs are women. However, these trailblazers are not only matching strides with their male counterparts, but often outshining them in terms of innovative ideas and execution tactics. 

A report titled “Landscape Study on Women Entrepreneurship” forecasts that the number of businesses steered by female entrepreneurs in India will skyrocket by 90% in the next five years. A survey by Bain and Company and Google also predicts that by 2030, Indian women entrepreneurs could potentially create 150–170 million new jobs. Yet, a mere 1.5% of startup funding in India is directed towards enterprises with female founders, as per a senior Google executive. 

Also Read: India’s Top 5 Power Women Shaping the Beauty Industry

To address this funding gap and support the flourishing of women entrepreneurs, several venture capital firms with a focus on women have sprung up. This article highlights five such firms actively encouraging female entrepreneurship in India. 

1. Achieving Women Equity (AWE) Funds, spearheaded by Seema Chaturvedi, is a gender-smart fund that supports enterprises that foster gender equity and prioritize climate action. This investment platform concentrates on agritech, healthtech, and climatetech, with minor allocations for fintech and edtech. 

2. Kalaari Capital is making strides in providing a level playing field for female founders and CEOs through its CXXO initiative. This initiative rests on the three main tenets of capital, community, and coaching. 

3. Saha Fund endeavors to boost women in business and fosters services and products aimed at women. Their portfolio embraces companies with a majority female workforce or those creating products or services specifically for women. 

4. She Capital, a diversity-focused venture fund, is shaking up India’s startup ecosystem by offering financial support to women entrepreneurs and fostering a unified community of female founders through its “Together” initiative. 

5. StrongHer Ventures, established by Ankita Vashistha, invests in future market-leading women-led or women-focused companies. 

Alongside these VC funds, Qualcomm’s Women Entrepreneurship India Network (QWEIN), established in 2020, aims to mentor women in technology, enabling them to maximize their business potential. 

The post The Rising Tide: Transforming the Scene for Women Entrepreneurs in India appeared first on Marketing In Asia.

An upward revision, however, was made in April, swelling the fund size as confirmed by recent SEC documents. The filings also reveal that Matrix Partners has managed to accumulate $517.93 million so far. Moreover, the venture capitalist is in the process of setting up another fund—Matrix Partners India IV A, with a fundraising target of around $14.75 million. 

A 2021 report from Moneycontrol predicted Matrix’s plans to raise a record-breaking $400 million for its India-centric fund. As an active early-stage investor in the Indian startup ecosystem, Matrix Partners India has an impressive portfolio with approximately 150 companies to its credit, standing tall alongside industry titans like Sequoia Capital and YCombinator. The firm has fueled the growth of eight unicorn companies, including OneCard, Dealshare, OfBusiness, and VerSe Innovation, the parent entity of Dailyhunt. 

Also Read: PhonePe’s Unstoppable Ascent: Secures $100M Funding, Bolsters $12B Valuation

This bold expansion of the fund size comes at a time when Indian startups are grappling with funding challenges due to unstable macroeconomic factors. Despite its reputation as an aggressive investor, Matrix lowered its investment activities by half in 2022, engaging in only 22 funding rounds, as per data from Tracxn Technologies. It hasn’t made any investments this year so far. 

Interestingly, Matrix isn’t alone in scaling back its investments. Many venture capitalists, despite amassing or planning to raise substantial funds, have followed suit. Case in point, Sequoia Capital India secured $2.85 billion in June last year for investing in India and Southeast Asia but has only been a part of 11 deals in the first five months of 2023, a sharp fall from nearly 30 during the same period in 2022. Nexus Venture Partners, Accel, and Elevation Capital have also wrapped up their biggest-ever India-focused funds. 

This news is based on an article from moneycontrol. 

The post Matrix Partners India Boosts its Fourth Fund to $525M Amid Economic Uncertainty appeared first on Marketing In Asia.

This recent round of financing has taken PhonePe’s total funding tally for the current round to an impressive $850 million. General Atlantic, in conjunction with its co-investors, has played a crucial role in this round, injecting $550 million into the Bengaluru-based company. This funding comes hot on the heels of another $100 million investment by the US-based growth equity investor in PhonePe less than two months ago. 

Also Read: Bright Sparks: Ola Electric Hits $6B Valuation with $300M Funding Surge, Aims to Supercharge Production

In a statement released on Monday, General Atlantic asserted that this latest investment is a testament to their unwavering belief in PhonePe’s business model and its immense growth potential. The fintech unicorn’s current funding round, initiated in January, has seen participation from a slew of prominent investors including Tiger Global, TVS Capital Funds, and Ribbit Capital. 

In addition to this, PhonePe also managed to attract $100 million from venture capital investors Ribbit Capital, Tiger Global, and TVS Capital Funds in February, followed by a significant $200 million in primary capital from Walmart in March. 

This series of successful fundraising rounds mark a sharp upturn for PhonePe, which was valued at approximately $5.5 billion in December 2020 after raising $700 million in primary capital from existing Flipkart investors, including Tiger Global and Walmart. 

The post PhonePe’s Unstoppable Ascent: Secures $100M Funding, Bolsters $12B Valuation appeared first on Marketing In Asia.