Satellite operator Kacific raises US$160M – Tech In Asia
Kacific Broadband Satellites Group, a Singapore-based satellite operator providing internet for rural markets, announced that it has secured US$160 million in long-term credit facilities from a group of financial institutions including Asian Development Bank (ADB) and GuarantCo.
Tech In Asia reported that the company plans to use the deal to repay short-term loans used to fund the construction of its Kacific1 satellite and associated infrastructure and launch costs.
Established in 2013, Kacific said that the company already has customers in 25 nations that have signed up to its service ahead of Kacific1’s operations early next year.
Its first satellite focusses on rural areas in the Pacific and Southeast Asia.
Fintech startup Nivesh raises US$600K – Press Release
Indian fintech startup Nivesh today announced a US$600,000 funding round led by Windrose Capital, through its The Next Billion Fund.
Nivesh is a platform built to serve marginal investors from Tier 2 and 3 cities with limited or no access to formal public financial markets. It employs a large network of independent agents in those cities.
Agents and small institutions use the platform to facilitate and simplify mutual fund investments.
The new funding will be used to expand to a new market and grow the customer base in existing ones.
Also Read: Gilmour Space secures US$14M to develop low-cost hybrid rockets for small satellite market
Evermos raises US$8.25M Series A to bring halal products to Indonesia – e27
Indonesia-based Evermos, a halal/sharia-compliant social commerce company, has raised US$8.25 million in an “oversubscribed” Series A funding led by Jungle Ventures.
The funding round also included the participation of Shunwei Capital and existing investor Alpha JWC Ventures.
The startup plans to use the funds to expand its presence in the digital Islamic economy ecosystem, accelerate growth by focusing on further collaborations with local brands and organisations, and build and support a vast online reseller network.
Swiss fintech incubator F10 enters Singapore – e27
Switzerland-originated fintech accelerator and incubator F10 is set to launch in Singapore.
The company will bring its P2 <
Before its official launch in Singapore, F10 has completed two F10 Hackathons in Asia.
This time, the six-month programme will start in May 2020 and is open for teams with a validated prototype of their product or service that solves a relevant problem within the financial industry.
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Image Credit: Sharon McCutcheon on Unsplash
The post Today’s top tech news: Singapore’s Kacific raises US$160M, India’s Nivesh raises US$600K appeared first on e27.