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Asia's tech and startup scene is buzzing with significant funding rounds, including US$140 million for India's Darwinbox and US$69 million for UAE's Flow48. Notable acquisitions include India's Digiledge by Mintoak and I Freedom by Boss Wallah, highlighting a dynamic investment landscape. Additionally, the evolution of crowdfunding platforms like Kickstarter is reshaping funding opportunities for both indie creators and established brands.
The Indonesian Industry Ministry has granted local content certification for 20 Apple products, including the iPhone 16, after negotiations on compliance with local regulations. Apple must still obtain permits from the communications and trade ministries before selling these products domestically. Despite the certification, Apple is not among the top five smartphone brands in Indonesia, according to Canalyst data from Q3 last year.
TVS Motor has acquired Singapore-based e-scooter startup Ion Mobility, as confirmed by CEO James Chan. The deal includes all assets and intellectual property, with Chan set to join TVS as senior vice president overseeing the ASEAN market starting April 1, 2025. TVS plans to relaunch Ion's flagship electric scooter, the M1-S, under its brand, aiming to enhance electric mobility solutions in the region.
Digital Classifieds Group (DCG), the parent company of Lamudi, has appointed liquidator Daniel Peter Juratowitch amid financial difficulties, as indicated by the Australian Securities and Investments Commission. DCG is currently in external administration following its acquisition of Lamudi's businesses in Indonesia and the Philippines from Dubizzle Group in October 2023. Earlier in July, Lamudi had also laid off an unspecified number of employees in Indonesia.
At MWC 2025, Huawei Cloud unveiled over 20 innovative solutions aimed at accelerating digital transformation across various industries, emphasizing a shift from cloud-native to AI-native technologies. Key offerings include enhanced cloud services, AI-driven data management, and robust security solutions, which have already demonstrated significant performance improvements for clients like TravelgateX and Hepsiburada. The company's commitment to AI as a core strategy positions it as a leader in intelligent transformation, catering to sectors such as finance, government, and automotive.
eFishery is significantly lagging in technology integration, with only 6,300 eFeeders deployed against a target of 400,000. An internal audit revealed that just 2.7% of the US$314 million raised has been allocated for tech development, while essential tools like water quality sensors are lacking. The company operates primarily through manual processes, and its business model, which connects fish farmers with suppliers and financial services, is facing tight margins and substantial losses.
Deutsche Bank has upgraded Freeport-McMoRan to "buy" from "hold," citing lower policy risks and the company's significant gold exposure as a hedge against macroeconomic developments. The brokerage notes potential cash flow upside from U.S. copper tariffs and an attractive valuation, despite the miner's recent underperformance due to operational issues in Indonesia. As of the last close, Freeport shares are up 0.21% year-to-date.
The recent eFishery scandal raises concerns about the ability of VCs, including Temasek, to prevent future frauds. To mitigate risks, investors should involve local experts in due diligence, verify revenue through investigative audits, and establish whistleblower frameworks within portfolio firms.In other news, Israeli AI firm Alta has secured $7 million in seed funding to enhance its virtual agents, while Tencent's AI chatbot Yuanbao tops the charts in China's iOS App Store. Sea Group reports a 36.9% revenue increase for Q4 2024, reaching $4.95 billion.
Oyo has projected a profit of ₹1,100 crore (US$126.5 million) for FY26, bolstered by its acquisition of G6 Hospitality, which is expected to contribute ₹630 crore (US$72.46 million) to its EBITDA. The company reported a profit of ₹229 crore (US$26.34 million) for FY24 and anticipates earnings of ₹700 crore (US$80.51 million) for the current fiscal year. Despite recent growth, Oyo faces pressure from creditors to expedite its IPO or address loan repayments of US$383 million, with a deadline set for October 2025.
Darwinbox, a leading HR technology platform, has secured $140 million in funding co-led by Partners Group and KKR, with participation from Gravity Holdings. Founded in 2015, the company has rapidly expanded internationally, achieving significant revenue growth, particularly in North America, and was recently recognized as a Challenger in the Gartner Magic Quadrant for Cloud HCM Suites. With over 3 million employees from major brands using its platform, Darwinbox aims to enhance its technology leadership and accelerate global expansion.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
fundraising insights and startup success stories from asia's tech landscape
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10:30 08.03.2025
Apple secures local content certification for 20 products in Indonesia
03:30 08.03.2025
TVS Motor acquires Ion Mobility to enhance electric mobility in ASEAN
14:15 07.03.2025
digital classifieds group appoints liquidator amid financial difficulties
10:33 07.03.2025
huawei cloud unveils innovative ai-native solutions at mwc 2025
09:02 07.03.2025
efishery faces technology integration challenges amid significant funding shortfalls
05:09 07.03.2025
Deutsche Bank upgrades Freeport to buy amid lower policy risks
14:46 06.03.2025
investors seek strategies to prevent future fraud scandals in startups
10:30 06.03.2025
Oyo projects significant profit growth following G6 Hospitality acquisition
05:45 06.03.2025
darwinbox secures 140 million funding to enhance global expansion and innovation
02:12 06.03.2025
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