Neurowyzr raises US$2.1M
Neurowyzr, a healthtech firm in India specialising in mind well being, raised US$2.1 million in an “oversubscribed” seed financing spherical.
Jungle Ventures and Peak XV’s (previously Sequoia India and Southeast Asia) Surge led the spherical. Angels, comparable to Khoo Boon Hui, Chairman of SDAX; Ab Gaur, Founder and CEO of Verticurl; and Rob F Jablonski, Industrial Funding Director of Aquivia; additionally joined.
Based in 2019 by Nav Vij and Pang Sze Yunn, Neurowyzr develops options to deal with present gaps in neurology and mind well being. Its first product is a web based gamified digital neuroscience evaluation known as the Digital Mind Operate Display (DBFS), which it claims considerably reduces the time and greenback burden of conventional cognitive testing.
Indonesian Muslims assured about utilizing AI for journey
Millennials Muslims in Indonesia are extra assured about utilizing AI instruments for journey suggestions than their counterparts in Singapore and Malaysia, in keeping with a brand new survey by Muslim-focused journey platform Have Halal Will Journey (HHWT).
Whereas 78 per cent of respondents in Indonesia present confidence in AI instruments for Muslim-specific journey suggestions, the figures are 36 per cent in Malaysia and 31 per cent in Singapore.
Indonesian Muslims (54.5 per cent) are additionally forward of their Singapore (31.8 per cent) and Malaysian (21.4 per cent) counterparts on the subject of utilizing generative AI for journey.
Because the launch of OpenAIʼs ChatGPT service final December, Millenial Muslims have began utilizing Generative AI of their day by day lives.
Antler backs Mole
Malaysia-based all-in-one skilled networking platform Mole secured US$110,000 in pre-seed funding from Antler.
With the brand new funding, Mole plans to enterprise into the US$1 billion conventional enterprise card market with its digital providing. A portion of the capital may also be used to develop a networking app and a sustainable digital enterprise card platform tailor-made for SMEs.
“Mole’s imaginative and prescient is to create a world the place professionals community for actual connections that transcend enterprise transactions,” stated Ling.
Based in June 2022 by Au Soung Rong and Melly Ling, Mole seeks to rework skilled networking by merging distinct occasion codecs, expertise, and community-driven efforts to streamline practices. It has devised NFC and QR code options for easy info sharing to deal with challenges comparable to misplaced playing cards and mismatched targets.
PrimaKu secures funding
PrimaKu, a pediatric well being platform in Indonesia, announced the completion of its pre-Collection A spherical of funding led by Northstar Group and AppWorks.
BRI Ventures and BIG Ventures additionally participated.
The scale of the deal stays undisclosed.
PrimaKu intends to make use of the capital to boost its digital ecosystem to help dad and mom, paediatricians, and healthcare amenities successfully. It would additionally broaden its product and repair choices for parenting whereas enhancing vaccination protection throughout Indonesian clinics and hospitals.
Based in July 2017, PrimaKu is a community-centric platform that addresses parenting challenges in Indonesia. The agency affords dad and mom three key providers to fight progress stunting:
- Baby progress monitoring
- Vitamin steering
- Vaccination and immunisation choices
Pi-xcels raises US$1.7M
Pi-xcels, a Singapore-based startup specialising in digital receipt issuance, secured US$1.7 million in a seed funding spherical led by Wavemaker Companions.
Hustle Fund, Amand Ventures, and Black Kite Capital, different strategic angel buyers additionally participated.
The startup will use the recent funds to gasoline its international enterprise growth efforts, with a particular concentrate on strengthening its presence in Europe and advancing tasks in Japan and Southeast Asia.
Moreover, Pi-xcels has acquired the Tokyo Metropolitan Authorities Inexperienced Finance Subsidy Grant and has been accepted into the Visa Accelerator program.
Based in 2019, Pi-xcels affords digital receipts as an eco-friendly different for numerous institutions utilizing Close to Discipline Communication (NFC) expertise. This method permits offline retailers to difficulty interactive e-receipts with a single faucet of a consumer’s smartphone.
Fintech funding in ID down 38% in H1 2023
The Indonesian fintech area noticed a 46 per cent decline within the variety of funding secured within the first half of 2023, in keeping with a report by international SaaS-based market intelligence platform Tracxn.
“Whereas 2021 marked the height of fintech funding, subsequent years have witnessed a decline. Funding within the fintech sector fell by 46 per cent in 2022 in comparison with the earlier 12 months, with the primary half of 2023 experiencing a 38 per cent drop in funding in comparison with the second half of 2022. This decline has led to the least funded half-year interval (H1 2023) since 2020,” the report elaborates.
Fintech startups in Indonesia raised a complete of US$322 million in H1 2023, marking a pointy decline of 71 per cent and 38 per cent in comparison with US$1.1 billion in H1 2022 and US$517 million in H2 2022, respectively.
The variety of funding rounds additionally noticed vital reductions, with a 26 per cent and 58 per cent decline in contrast with H2 2022 and H1 2022, respectively.
Hypefast lays off workers
Indonesian brand-aggregator Hypefast laid off 30 per cent of its workforce in a bid to keep up profitability, in keeping with a report by Tech In Asia.
The full variety of affected staff is undisclosed.
The corporate stated that it’ll proceed to offer affected staff with medical health insurance till the tip of 2023, outplacement assist, and extra versatile timing for worker inventory possession plan (ESOP) tax funds.
Established in January 2020, Hypefast helps native manufacturers with revenues exceeding IDR500 million (US$32,627) develop their companies, notably by on-line gross sales channels.
It additionally affords debt capital to these manufacturers.
CompAsia rakes in Collection A
Malaysia’s built-in re-commerce startup CompAsia secured an undisclosed sum in a Collection A funding spherical led by Gobi Companions.
This capital will assist the startup develop throughout numerous touchpoints, bolstering human sources, coaching, and operational capabilities.
Moreover, the funds shall be instrumental in optimising the agency’s digital property and advertising methods, particularly specializing in penetrating new markets just like the Philippines, Thailand, and Indonesia.
Based in 2016, CompAsia is a one-stop platform for patrons to commerce in or buy pre-owned digital gadgets. It additionally affords financing plans and different choices to deal with buyer issues about transparency when shopping for such items.
Photo voltaic AI baggage US$1.5M
Singapore-based solar-as-a-service startup Photo voltaic AI Applied sciences raised US$1.5 million in a seed funding spherical led by Earth Enterprise Capital with participation from Undivided Ventures, Investible, and climate-tech angel investor David Pardo.
The funds will primarily be used to upscale its rent-to-own (RTO) photo voltaic programme within the island nation earlier than embarking on regional enlargement within the subsequent 12 months.
Began in 2020 by Chew (CEO), Gérald Chablowski (CTO), and Luke Ong, Photo voltaic AI seeks to make rooftop photo voltaic accessible and hassle-free for smaller, underserved property house owners by offering them with zero upfront price.
Its major product is its RTO photo voltaic programme, which permits clients to personal a photo voltaic panel system with zero upfront price, paying a flat month-to-month charge for set up, upkeep, servicing, and power era assure.
In comparison with the normal photo voltaic provide that calls for an upfront price of US$15,000 to US$50,000, the startup’s RTO mannequin helps de-risk photo voltaic as a renewable power answer, notably in Southeast Asia, with a penetration charge of lower than 1 per cent.
VC funding in Indonesia constant in H1 2023
The Affiliation of Indonesian Enterprise Capital and Startups (AMVESINDO) launched a report that exposed the efficiency of enterprise capital (VC) investments within the nation within the first half of 2023. In accordance with the report, the Indonesian VC business noticed constant progress, with investments reaching IDR27.35 trillion (US$1.7 billion) in June 2023.
A mixture of typical and Sharia-based VC investments, the quantity was a rise from December 2022’s place of IDR25.94 trillion.
As seen within the following graphic (in IDR trillion), with the blue graphic representing typical VC and the pink graphic representing Sharia-based VC, the regular enhance signifies buyers’ belief within the potential of the Indonesian tech startup ecosystem regardless of back-to-back international crises.
AntsBees units apart US$860K for startups
AntsBees, a synthetic intelligence (AI) and robotics automation options supplier in Malaysia earmarked as much as RM4 million (US$860,000) to spend money on tech startups wanting operational progress.
The agency tends to favour startups which can be targeted on the industries of schooling, healthtech or any discipline that would contribute to the AI expertise ecosystem.
“We’re eager to increase our experience and platforms to startup firms and lengthen monetary help to develop collectively. Having been available in the market and enabling digital transformation for organisations, we want to spend money on or purchase new companies associated to Trade 4.0 and doing so, additional strengthen our place in direction of changing into a stronger tech-conglomerate,” stated Dr Priscilla Prasena, Group CEO of AntsBees.
PropertyGuru shutters Rumah.com
Property tech firm PropertyGuru announced that it’s ceasing the operations of Rumah.com, its property marketplaces enterprise in Indonesia, and FastKey, its SaaS product, in an inside word by PropertyGuru Group CEO and Managing Director Hari V. Krishnan.
The assertion additional detailed that Rumah.com will stop to function on November 30.
“Our purpose is to minimise this impression and supply assist to the 61 Gurus from our Indonesia Market enterprise, providing them enhanced packages, healthcare assist and aiding them of their transition to new alternatives,” Krishnan stated within the assertion.
“Till November 30, we’ll proceed to serve our Rumah.com agent and developer companions to make sure minimal disruption to their enterprise operations. Thereafter, we’ll refund the charges paid by them as per the respective contracts. For our vendor companions, we can pay the dues as per the person contractual commitments.”
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The pic on this article is AI-generated.
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