AsiaTechDaily

AsiaTechDaily is thrilled to announce Victor Chua, Founding & Managing Partner of Vynn Capital, as our Investor of the Month for August 2024. Victor’s impact on the Southeast Asian venture capital space is profound, and we are honored to feature him in this special edition.

Terumo Medical Corporation, a Japanese medical equipment manufacturer, has launched a new corporate venture capital (CVC) fund under the name “Terumo Ventures.” This initiative managed as a department within Terumo Americas Holding, Inc., will focus on driving the group’s venture investments.

The Board of Investment of Thailand (BOI) has introduced a new initiative to boost startups in targeted industries by providing financial support. This support will be offered through a newly launched “Matching Fund,” which will match subsidies provided by venture capital funds, offering up to 50 million baht per company. 

Yuno, a global provider in the payment space, has recently secured a $25 million Series A round to expand aggressively in key Asian markets, including Singapore, Hong Kong, and Thailand. The investment round was led by prominent investors such as DST Global Partners, Andreessen Horowitz, Tiger Global, Kaszek Ventures, and Monashees. AsiaTechDaily conducted an exclusive interview with Jonathan Hall, Head of Asia at Yuno, who shared the company’s strategic goals for the region and the challenges and opportunities presented by Asia’s diverse payment ecosystems. 

Beep, a Singapore-based IoT transaction platform startup, has successfully secured $3.3 million in its Pre-Series A funding round. The round, which was oversubscribed, saw participation from existing investors Granite Asia (formerly GGV Capital), Farquhar VC, SUTD Venture Holdings, and Wing Vasiksiri, along with new investment from M7 Ace Neo, a company under M7.

Malaysian sovereign wealth fund Khazanah Nasional has announced the successful completion of its acquisitions of government-backed venture capital agencies Malaysia Venture Capital Management (MAVCAP) and Penjana Kapital (PK). As per an official statement released on Tuesday, both entities will become wholly owned subsidiaries of Khazanah.

🚀 Why This Event is Crucial for Startups! 🚀 Join us for an exclusive session with Kishore Ravichandran, AsiaTechDaily's 'Investor of the Month' for July! 📅 Date: 30th July 🕑 Time: 2:00 PM SGT 📍 Entry: FREE (Early registrations expected) Topic: Best Practices for Startups to Engage and Collaborate Effectively with Corporations for Mutual Benefit Forming strategic partnerships with corporations can be a game-changer for startups. Learn from Kishore Ravichandran, a strategic investor at Plug and Play Tech Center, as he shares invaluable insights on: -Building successful startup-corporate collaborations -Leveraging corporate connections for growth -Real-world case studies of startups that have thrived through strategic partnerships Don’t miss this opportunity to gain expert advice and practical tips that can propel your startup to new heights. 📌 Limited seats available! Register now to secure your spot: https://lnkd.in/dExBzzub #StartupEvent #Innovation #Collaboration #Entrepreneurship #VentureCapital #PlugAndPlay #AsiaTechDaily #InvestorOfTheMonth #FreeEvent

 Exciting Announcement! 🚀 We are thrilled to name Plug and Play Tech Center's Kishore Ravichandran as our 'Investor of the Month' for July 2024! 🎉 Join us for a live session with Kishore, where he will share his insights on "Best Practices for Startups to Engage and Collaborate Effectively with Corporations for Mutual Benefit." 🗓 Date: 30th July 🕑 Time: 2.0 pm SGT 💸 Entry: Free Don’t miss this opportunity to learn from a seasoned investor and gain valuable knowledge to propel your startup to the next level! 🌟 👉 Register Now: https://lnkd.in/dSNkMiTd #InvestorOfTheMonth #StartupSuccess #VCInsights #Innovation #Entrep

BluMaiden Biosciences, a Singapore-based biotech company, has secured an investment to advance its small molecule drug discovery approach. Leveraging AI-guided computational genetics and chemistry, BluMaiden aims to explore the vast chemical space within the human body to develop new medicines. This funding round was led by Elev8.vc, a deep tech venture capital firm, with participation from SEEDS Capital, the investment arm of Enterprise Singapore.

Fintech funding in Southeast Asia declined 20% year-on-year to US$851 million in the first half of 2024, according to a report by Tracxn, a global SaaS-based market intelligence platform. This is a major drop from the US$1.2 billion raised in the same period last year and a 31% decrease from the US$1.3 billion secured in the second half of 2023.