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All posts by Tech In Asia

Tech In Asia
Tech in Asia is an online technology news startup based in Asia, with team members all across the region. As a crew of journalists and bloggers with a passion for new ways of delivering the news, we’ve bonded together under one goal – to create a great Asia-focused tech news site to tell the world about the wonderful things that are happening here. Subscribe to our daily newsletter.
  • Airbnb for home dining raises seed funding to build up its global community

    Singapore-based BonAppetour, an ‘Airbnb for home dining’, has raised a seed round worth US$500 000, it announced today. The investment comes from entrepreneur and investor Wong Toon King and telecommunications infrastructure contractor firm Prasetia Dwidharma. BonAppetour helps travellers find local hosts who invite them to enjoy home-cooked meals. It adds an online social layer to having people over for dinner and gives visitors a chance to connect with a local culture through food and hospitality. The startup was founded in 2013 and started building a community in tourist havens across Europe, such as Paris, Rome, and Barcelona. The team curates its...

  • 5 crucial things investors should know about timing the investment cycle

    Understanding where we may be in an investment cycle is difficult but worth the effort. Trying to time an investment cycle, however, is nearly impossible. For early stage investing, in particular, there are some important points to consider when thinking about the investment cycle. Timing a moving target While markets move up and down, each cycle is different. In particular, people are usually responding to what happened in the previous cycle. This includes both market participants, who tend to overweight recent events, and the regulators, who make rules to deal with the problems of the previous cycle. As a whole, markets are...

  • Alibaba’s Hong Kong fund throws cash at ‘Uber for vans’ startup GoGoVan

    On-demand logistics startup GogoVan raised a series C funding round, it announced today. The funding amount is undisclosed, but is described as “a decent amount for future business expansion.” The round was led by private equity firm New Horizon Capital and was joined by Singapore Press Holdings, Hotung Investment Holdings, and existing investors. Alibaba’s new US$130 million Hong Kong Entrepreneurs Fund also participated. “This round of funding is fully committed and our new shareholders are very supportive in our strategy and growth plan,” GoGoVan head of operations Eugene Lee tells Tech in Asia. The startup says these investors will also be providing...

  • It’s hot in Asia: VC funding doubled year-on-year in Q1 2016

    Talks of a cooldown appears to be just that – talk. For now at least. According to Tech in Asia’s data, venture capital funding in Asia has doubled in Q1 2016 compared to the same period in 2015. Things get even more interesting when we break down the numbers by region. China has grown at a blistering pace, with its venture capital funding doubling to US$14.5 billion in Q1 2016 against Q1 2015. The country’s cooling stock market appears to have not affected investor confidence yet. Southeast Asia exhibited the most growth in terms of percentage: it grew 2.5 times to...

  • Stores use music to boost sales, this startup applies the concept to online retailers

    There’s a clear, demonstrated effect of music on sales performance, with the right kind of tune helping stores significantly increase footfall and influence purchase decisions. Research from Gensler (PDF Link) also shows that the use of music can help businesses create emotional engagement around their product and strengthen their brand. And, as almost every marketer will tell you, consumers buy experiences and products from brands they personally identify with. With so much of the world’s commerce shifting to online channels, why not apply the same principles to internet companies? That’s the niche Israel-based righTune aims to tap into. The startup works...

  • Nuren, an ecommerce firm for brides and mothers, scores $2m series A from Gobi Partners

    Anyone who’s gotten married will tell you – weddings are stressful. It’s a ton of work and drowning in the details, which can take away all the excitement for what’s supposed to be the best day of your life. That’s why Malaysia-based Nuren wants to simplify the whole planning process for brides-to-be. The startup operates ecommerce sites (Wedding.com.my in Malaysia and Nuren.sg in Singapore) that offer tips and advice on each step, and link you with vendors who can help you with whatever you need. Co-founded by Petrina Goh, Kelvin Leow, Stacey Lee, and Alice Ong, the company also offers consulting...

  • Fintech startup Momo raises $28m from Standard Chartered’s VC arm, Goldman Sachs

    Vietnam-based fintech startup Momo today announced it obtained US$28 million in series B funding from Standard Chartered Private Equity and global investment bank Goldman Sachs, which is an existing backer. Launched in 2014, Momo is an ewallet and payments app that allows users to pay online and transfer money to each other digitally. At selected stores, the app can be used for cashless payments. The company also has a physical network of over 4,000 over-the-counter agents where people can remit money and avail of other financial services through Momo. Momo claims to process millions of transactions daily for its over 2.5 million...

  • 500 Startups launches $10m fund for Vietnam

    When 500 Startups founding partner Dave McClure excitably tweeted this week that he was on a flight to Vietnam, we knew something was up. Today, the Silicon Valley-based venture capital firm announced it set up a US$10 million microfund for Vietnam, a country it’s very bullish about. The move wasn’t a surprise though; talks about it surfaced last year. The microfund will aim to make 100 to 150 investments in Vietnamese startups, 500 Startups says on its site. “We believe there are many interesting near-term investment opportunities in B2B and enterprise SaaS, fintech, and ecommerce, but ultimately we are ‘vertical agnostic, returns religious,’” the...

  • Japan, you have a unicorn. Mercari’s valuation rises over $1b

    Time to update our list of Japanese unicorns. Mercari, an app for selling second-hand goods, has just raised US$74 million in its series D at a valuation of over US$1 billion. (Hat-tip toTechCrunch.) Since starting in 2013, the company has raised US$110 million. The current round features a whos who of Japan’s investment community with Mitsui & Co., Development Bank of Japan, Japan Co-Invest, Globis Capital Partners, World Innovation Lab, and Global Brain all on board. In just three short years, the app has seen meteoric success. The company’s latest press release notes that it fulfills US$88 million worth of orders...

  • Singapore-based ecommerce marketing startup raises $1m to enter Indonesia

    Email and digital marketing startup Ematic Solutions has raised a pre-series A round of close to US$1 million, it announced today. The funding comes from MDI Ventures, a venture capital fund backed by Telkom Indonesia, the country’s major telco. The pre-series A round comes just two months after Ematic raised its seed round, worth US$1.07 million, led by Wavemaker Partners and joined by 500 Startups and Convergence Ventures. The funding will be used to intensify the Singapore-based startup’s quest for regional expansion. Indonesia was already a priority destination for the company, and it expects MDI’s support to help it further along....