Ecosystem Roundup: Venteny gets the nod to go public; Flash Coffee, Sirclo axe jobs; Sequoia is sorry for FTX investments

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Growth capital firm Venteny Fortuna seeks to raise US$27M via IPO on IDX
Venteny plans to use the funds to increase the group’s working capital and support its business development and growth; With this, Venteny is set to become the first Japanese founder-led startup to be listed in SEA.

SEA food and grocery delivery spending up 30%: Grab report
The report said that in Southeast Asia, consumers in Singapore spent the most on deliveries, while those in Vietnam ordered most frequently during the period.

Malaysian startups, MNCs have started recognising the importance of Web3: Jasmine Ng
There is a growing demand for Web3 developers, but less than 1 per cent of programmers have the necessary skills to do the job, says Ng, Co-Founder of myBID and founding member of Women In Blockchain Asia.

‘In Web3, talent is hard to find and expensive’
According to experts, the best Web3 talents can be found in India, Vietnam, the US, France and the UK. Regulations are currently quite fuzzy, and clarity about this will go a long way in helping people become more. comfortable.

Singapore-based Flash Coffee lays off employees
According to LinkedIn, the startup employs over 600 people; The Rocket Internet-backed firm raised US$32.8M in July; It has a presence in Indonesia, Singapore, HK, Korea, Japan, Thailand, and Taiwan.

Indonesian e-commerce enabler Sirclo lays off 8% of employees
The layoffs are part of the efficiency measures policy amidst the “current macroeconomic conditions”, it said in a statement; Sirclo stated that all aspects of the group’s business are in the optimisation stage to achieve long-term growth.

East Ventures launches startup programme amid layoff wave
The fourth edition of PASTI BISA, called Terus Pantang Mundur (Keep Moving Foward, Never Give UP), was launched in response to the massive layoffs in Indonesia recently.

Vietnam’s EV firm Dat Bike raises US$8M
The investors are Jungle Ventures, GSR Ventures, and Delivery Hero Ventures; It plans to expand beyond Ho Chi Minh City, Hanoi and Da Nang to other Tier 1 cities; Dat Bike claims its revenue rose by 10x in the last 12 months.

NOVI Health bags US$5M Series A to tackle diabetes, obesity using tech
The lead investor is Monk’s Hill Ventures; NOVI provides hyper-personalised holistic health solutions integrating precision medicine and behavioural and lifestyle interventions.

Fintech firm BayaniPay nets US$4.5M seed funding
The investors are East West Bank, Wavemaker Partners, and Talino Venture Labs; BayaniPay provides access to a digital checking account, a debit card, and zero-fee remittance forex rates for Filipino Americans sending money home

Accelerating Asia invests in 10 startups as part of cohort 7 programme
The new startups have an average monthly GMV of over US$46K and revenue of over US$13K, and they collectively address at least one sustainable development goal.

Fonos raises US$1.8M in funding to expand into podcasting
The investors include North Base Media, AngelCentral, Vietcetera’s fund; Since its launch in 2020, Fonos has established itself as the audio content leader in Vietnam with over 2,100 exclusive pieces of content.

SOSV backs 5 startups as part of latest Orbit cohort
The startups are NewCampus, Kreate, Nandi Labs, PriyoShop, and Fullfily; Each participant of the Orbit Startups programme received US$150K in initial funding; Orbit encompasses SOSV’s Chinaccelerator and MOX programmes.

Saison Capital, Mixpanel launch product manager peer-support community
The first cohort of the analytics programme will connect Saison’s 2-3 product manager community directly with Mixpanel leaders across product management and engineering.

Sequoia apologises for investing in FTX
Sequoia has funnelled US$214M into and FTX US; It clarified that it had reviewed FTX’s unaudited statements before investing and conducted rigorous due diligence.

FTX owns Indonesian crypto exchange Bitocto, court document shows
Separately, data from the Indonesian Ministry of Law and Human Rights showed that 99% of Bitocto shares are owned by FTX, while the remaining 1% is owned by Genesis Block, an HK-based crypto platform.

Rakuten Capital to invest in SG Web3 entertainment company DEA
DEA also signed an MoU with Rakuten Group for a collaborative partnership in the Web3 domain; DEA operates the PlayMining GameFi platform, which features a catalogue of P2E NFT games, including Job Tribes and Cookin’ Burger.

Filipina actor Yassi Pressman nets US$2M for her new Web3 startups
Yassi Pressman’s startups PEG is a gaming guild, while BrandNation is an influencer marketing platform for digital and Web3 brands; The funding was led by cryptocurrency exchange and digital asset custodial provider Sonla.

URECA, a Blockchain-based marketplace for carbon offsets, raises US$1.5M
Originally from Mongolia and HQed in Singapore, URECA aims to empower and mobilise grassroots communities against climate change by providing a universally accessible platform for carbon offsets.

Singapore police begin probe into Hodlnaut
The police said they have received multiple complaints between August and November outlining how Hodlnaut and its directors allegedly falsified the extent to which the firm was exposed to a digital token – presumably UST.

Hex Trust wins license for virtual asset services in Dubai
The company, which offers services including staking, brokerage deals, and virtual asset custody, secured a minimum viable product license a few months after getting a provisional license in June.

The future of recruitment in Web3 era
Web3 can provide an ecosystem where a credential holder can share a zero-knowledge proof presentation without sharing the original credential.

How I bootstrapped my company and what I learned through the process
Geraldine Pang, Founder of Creative For More, talks about some lessons she has learned along the way in bootstrapping her company from the ground up.

How to scale up your DTC game with payments
Those looking to grow their business must move fast and embrace new ways of operating, and payments is an integral part of the plan.

A walk through the growth of e-commerce in Singapore
The future of e-commerce in Singapore looks bright with the continued growth of online stores and high demand for quality products.

9 tips for creating a remote work cybersecurity policy
From ensuring systems are up-to-date to installing VPNs, cybersecurity is essential and requires the collaborative work of the entire team.

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