Ecosystem Roundup: HelloGold shuts shop; Sea mulls selling Phoenix Labs; iSeller, Locad raise financing

Malaysian fintech startup HelloGold is shutting down its consumer business
The app made use of blockchain innovation to enable customers to save money by using gold for as low as RM 1; Users have until February 2, 2023 to withdraw their money.

Sea Group is considering selling game maker Phoenix Labs
The plan is part of Sea’s efforts to reduce costs and focus on its core business; The sales process has not yet started. Sea is reportedly in discussions with an adviser about the plan.

ComfortDelGro pumps 4.3 million USD into a mobility-focused impact fund
The transport company said it will look at the startups targeted by Shift4Good and make investments either on its own or through the fund.

Indonesian POS startup iSeller bags US$12M Series B
The investors are Intudo Ventures, KVision, Mandiri Capital Indonesia and Openspace Ventures; With the deal, iSeller also completed its acquisition of the local payment gateway Yukk.

Locad raises US$11M to build supply chain network across APAC
The investors include Reefknot Investments, Access Ventures, JG Summit, Sequoia Surge and Febe Ventures; Locad organizes end-to-end e-commerce through its network of warehouses and freight companies across SEA.

Farquhar VC to help Korean university-affiliated startups go global
Hanyang University and Farquhar VC will also explore joint funding initiatives to invest and scale HYUH startups globally; To date, Hanyang University Holdings has invested in more than 50 startups.

The Sinar Mas unit leads the pre-series A of Indonesia’s DCT Agency
DCT Agency connects companies and brands with influencers for marketing campaigns and live trading sessions on TikTok; The startup currently has more than 500 online personalities on its network.

YC-backed Philippine fintech startup PayMongo names Jojo Malolos as new CEO
Malolos is the co-founder of GoTyme Bank, one of the digital banks licensed by the country’s central bank; PayMongo has been under public scrutiny for the past several months following a news report of many scandals.

WhyQ adds 1.1 million USD to Series A1 to enable traders to go and sell online
The lead investor is the Kairos FoodTech Fund of Kairos Capital; WhyQ plans to use the money to expand its digitization platform and support the growth of small businesses in Singapore and Malaysia.

Imajin Announces Seed Funding from East Ventures, 500, Init 6
The company will use the money to hire, expand and develop products; Imajin connects local manufacturers with potential customers; it has so far partnered with over 500 SME manufacturers.

‘The era of easy money is over’: Southeast Asian VCs speak out
As the funding winter continues into H1 2024, SEA remains a bright spot due to its favorable demographics and supply chains shifting to the region.

Being a first-class listener will serve you best: PR expert Jon Howard
The director of strategy at Bud Communications says to be curious about the other person’s perspective and not worry about whether you’re the smartest person in the room.

How Perfect Day aims to win over Singapore’s alternative dairy market
Founded in 2014, Perfect Day works at the intersection of biological engineering, food innovation and consumer products.

Malaysia can be a global SaaS leader, says Indelible Ventures
“Because of the low cost base, we can actually leverage the growth we get here and then turn to create globally competitive products that can then penetrate other markets around the globe,” says Managing Partner Kevin Brockland.

Mark Cuban-backed blockchain firm Injective launches US$150M Web3 initiative
Injective aims to support developments in interoperability, DeFi and PoS infrastructure sectors, among others; Investors in the initiative will provide token and equity investments as well as mentorship.

Demand for Web3 talent remains amid downturn, says BNB Chain
Amid mass layoffs in tech, the firm currently lists 173 roles on its own platform; BNB Chain also pointed to the nearly 30,000 opportunities in the global Web3 space listed online.

How Rebase leverages Web3 to improve real-world interactions
NFTs are often associated with digital art and profile pictures; however, their use case is more than that; They have the potential to be a valuable addition to people’s daily activities and hobbies.

8 Billion People Milestone: Reaching New Heights for Humanity
The world’s population is currently increasing at 0.83 percent per year, with some countries experiencing dramatically higher population growth than others.

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The post Ecosystem Roundup: HelloGold Closes Shop; Havmuller sells Phoenix Labs; iSeller, Locad travel financing appeared first on e27.


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