Finance
Indonesian e-procurement platform Mbiz raises US$20M in Series B funding
Indonesia-based B2B-targeted e-procurement platform Mbiz has raised US$20 million in Series B funding.
This follows a Series A investment from Tokyo Century Corporation in 2017.
According to a DailySocial report, the funding will be used to focus on in-country expansion for the next two years to increase e-procurement awareness in Indonesia, as well as for platform improvement and team hiring.
The Series B funding, according to Mbiz CEO Rizal Paramarta, is still ongoing and is open for more investors. Specifically, Paramarta said that the company hopes to collaborate with fellow e-commerce ecosystem providers or with brands with a high awareness level.
Mbiz provides a B2B Commerce service with an e-procurement digitalisation system, automating a time-consuming process like tax cut reports, bookkeeping, and others.
In Indonesia, Mbiz’s head-to-head competitions are Bhinneka Bisnis and Bizzy, along with Bukalapak that has begun to address B2B segments by providing e-procurement BukaPengadaan.
Vietnam’s HR platform Sieu Viet to get US$34M funding from Singapore’s private equity firm Affirma Capital
Affirma Capital, a Singapore-headquartered private equity firm targeting the emerging markets, plans to invest US$34 million in Vietnamese online recruitment firm Transcendental Human Resources JSC, or locally known as Sieu Viet.
Also Read: Meet 9 CEOs steering through Vietnam startup ecosystem
According to a report by DealStreetAsia, the investment is still subject to regulatory approval. It will be used to help Sieu Viet strengthen its value proposition in its core segment and launch more value-added services across its platform.
In the past, Sieu Viet acquired local HR website MyWork.com.vn with the intention to bring its network to a total of four job portals that caters to both small and medium businesses as well as large corporates.
Affirma Capital is owned and operated by the former senior leadership of Standard Chartered Private Equity. Sieu Viet becomes Affirma Capital’s fifth investment in Vietnam since 2014.
Video editing platform InVideo secures US$2.5M funding led by Sequoia’s Surge
San Francisco- and Mumbai-based video production and editing platform InVideo
raises US$2.5 million in funding led by Surge, an accelerator programme run by global venture capital firm Sequoia Capital.
According to a VCCircle report, Surge joins investors in the company such as angel investors Anand Chandrasekaran and Gokul Rajaram in total funding of a little over US$3.2 million raised.
The startup plans to use the funding to grow its global audience, invest in its community, and expand its product pipeline.
InVideo aims to democratise access to professional video software using AI to automate the entire video-making process. Operated by Abstrakt Video, InVideo suggests real-time improvements with the help of an autocorrect assistant that include font and animation choices, and colour palettes.
InVideo was part of Surge’s second cohort of 20 startups from across Southeast Asia and India.
Business
honestbee continues to suspend habitat’s operation, stating concerns over Covid-19 virus outbreak
Online grocery shopping platform honestbee has suspended its tech-enabled offline operation of habitat supermarket until February 29, stating concerns over the Covid-19 virus outbreak in Singapore. Besides the outbreak, the slowdown in the retail and food and beverage sector also influenced the decision.
Also Read: [Updated] Honestbee describes CEO Joel Sng departure as resignation, names replacement
According to a report by The Business Times, habitat has halted operation since February 10 with the initial plan to resume operation on February 23. The company said the decision to remain closed will be an opportunity to improve its technology infrastructure to enhance the customer experience.
Singapore’s government raised the Disease Outbreak Response System Condition to Orange — the second-highest level — for the virus early this month.
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Photo by Afif Kusuma on Unsplash
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