Grab's Q3 revenue near pre-Covid level; hiring for senior digibank roles

RIDE-hailing and food delivery firm Grab has logged in a Q3 group revenue that is over 95% of that of pre-Covid-19 levels, the Singapore-headquartered firm’s president Ming Maa said in an emailed newsletter.

E-motorbike startup ION Mobility raises US$3.3m in seed funds

ION Mobility, a Singapore-based smart electric motorbike startup has clinched US$3.3 million in seed funding to launch its first motorbike in Indonesia in 2021, as well as to expand regionally.

New fund by Thai multi-family office to invest US$120m in South-east Asia

BLUEPRINT Forest (BPF), a Bangkok-based multi-family office, is injecting US$120 million into a new fund, 9 Basil, that will invest in South-east Asian enterprises and distressed assets.

Carro confirms new funding; claims to be on track for S$1b run rate by 2022

USED car marketplace Carro had raised close to US$150 million in debt financing facilities, as well as fresh equity from new investors Mitsubishi Corp and MS&AD Ventures this year, the startup announced on Wednesday.

GARAGE

Asian edtech startups seize Covid-19 growth window

EDUCATION technology, or edtech, is having its moment in the spotlight. As the pandemic has made the value of remote-learning tools clearer than ever, edtech startups are seizing the moment to expand regionally and refine their products.

US edtech fund Owl Ventures takes a shine to S-E Asia

US-BASED Owl Ventures is seeing growing appetite from South-east Asian investors for education technology (edtech), both for attractive returns and as a form of impact investing, the firm's managing director Ian Chiu and operating adviser Ilaria Chan told The Business Times.

GARAGE: NEWS ANALYSIS

Rules clarity a plus for Grab, Gojek in S-E Asian minefield

SINGAPORE'S regulatory framework for the point-to-point (P2P) transport sector, which is set to be rolled out later this month, marks the maturing of the ride-hailing industry here.

Grab launches second cloud kitchen in Singapore

GRAB has launched its second cloud kitchen in Singapore, marking its 56th GrabKitchen facility regionally, the ride-hailing and food delivery firm announced on Monday.

Neuron Mobility raises US$12m in extended Series A round

E-SCOOTER rental operator Neuron Mobility has secured US$12 million in an extended Series A investment led by existing investors Square Peg Capital and GSR Ventures.

NEWS ANALYSIS: GARAGE

Carousell aims for exit within 4 years, possibly at value of US$1.1b or more

HOMEGROWN classifieds startup Carousell aims to provide its investors an exit by 2024, its regulatory filings indicate.

GARAGE

Koh Boon Hwee, investment veterans launch South-east Asian VC

A NEW venture capital firm by five private capital veterans, including businessman Koh Boon Hwee, is raising an inaugural fund of over US$100 million to capture early-stage opportunities in South-east Asia.

Openspace unveils mid-stage fund OSV+; adds ex-Disney executive as director

SINGAPORE-BASED venture firm Openspace Ventures on Monday announced its fourth fund, OSV+, focused on mid-stage tech investments.

BT EXCLUSIVE

Covid-19 turmoil creates fresh openings for new startups

THE economic downturn can in fact be an opportunity for entrepreneurs to launch new ventures, startup veterans and investors tell The Business Times. While funding may be tougher to secure, new startups can capitalise on permanent disruptions created by Covid-19.

Zopim co-founder eyes post-Covid travel surge with startup GoTrippin

EVEN as the travel sector has turned moribund, entrepreneur Royston Tay sees opportunity. The co-founder of Zopim, one of Singapore's earliest startup successes, is now working on a new traveltech startup with two other partners.

Lightspeed swoops in on bright spots in S-E Asian startups

DESPITE the gloomy skies, US-headquartered Lightspeed Venture Partners is bullish on South-east Asian startups that can fill key "infrastructure gaps" amid the Covid-19 outbreak, the venture firm's partner Akshay Bhushan told The Business Times.

GARAGE

MedTech Innovator seeks to spotlight Asia-Pacific startups to investors

MEDTECH Innovator, a US nonprofit accelerator, is bullish on Asia-Pacific's young ecosystem of medtech startups. And it wants to highlight their vast potential, even as investors have turned cautious amid Covid-19, the firm's chief executive Paul Grand told The Business Times.

Carousell to surpass US$900m valuation with Naver deal

A CONSORTIUM led by South Korean internet giant Naver has struck an investment deal with classifieds platform Carousell worth US$80 million, the Singapore-headquartered startup announced on Tuesday.

Alibaba's entry might affect Grab-Gojek merger talks

ALIBABA is said to be in talks to invest an eye-watering US$3 billion in South-east Asian ride-hailing firm Grab. Observers say that the deal, if it bears fruit, could complicate efforts for a reported merger between Grab and rival Gojek.

GARAGE

Quest Ventures to nurture Malaysian startups in partnership with accelerator

SINGAPORE venture capital firm Quest Ventures has entered into an exclusive partnership with accelerator ScaleUp Malaysia to invest in and help with the regional growth of top Malaysian startups.

Quest Ventures to nurture Malaysian startups in partnership with accelerator

SINGAPORE venture capital firm Quest Ventures has entered an exclusive partnership with accelerator ScaleUp Malaysia to invest in and help with the regional growth of top Malaysian startups.

JOB OPENINGS

Espressif seeks talent for Singapore R&D office

ESPRESSIF Systems, the China-based fabless semiconductor firm founded by Singaporean Teo Swee Ann, plans to hire 80 engineers over the next two years for a research and development centre in Singapore.

TOPLINE

CSE Global on the lookout for M&As

RECENT acquisitions have shored up CSE Global's financial performance, making the tech-solutions provider a bright spot in the Covid-19 pandemic-hit oil and gas sector. With a continued appetite for mergers and acquisitions (M&As), it is now eyeing a "consolidator" role in the downturn.

Chip-fuelled creativity

THE tiny ESP8266 microchip, made close to a decade ago, has amassed a cult following far beyond what its lead developer, Singaporean Teo Swee Ann, had envisioned. Measuring just a few millimetres, the Wi-Fi chip has captured the imagination of do-it-yourself tech hobbyists - or "makers" - all...

HOCK LOCK SIEW

Bellagraph, Hin Leong sagas show weak spot in exempt private companies

THE recent debacle over Bellagraph Nova (BN) Group - and the rollover impact on Catalist-listed Axington - revives long standing calls for improved disclosure standards when it comes to Exempt Private Companies (EPCs).

JOBS DEBATE

Singapore businesses alarmed by growing protectionist calls

BUSINESSES are growing wary of what may seem like protectionist suggestions to keep the Singaporean core in professionals, managers and executives (PMEs) jobs, which some say could backfire in the broader scheme of things.