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Line Man Wongnai evaluates the acquisition of Foodpanda in Thailand

According to individuals briefed on the matter, Bloomberg claimed that Thailandbased Line Man Wongnai, which only recently achieved unicorn status in

According to individuals briefed on the matter, Bloomberg claimed that Thailandbased Line Man Wongnai, which only recently achieved unicorn status in the food delivery industry, is in talks to purchase Foodpanda in Thailand in order to position itself for an IPO in the coming years. Both parties have yet to make a final decision, so the agreement could yet fall through, the sources said. In all 77 of Thailands provinces, Line Man Wongnai provides services like meal delivery, grocery delivery, and ridehailing. It is supported by the Japanese tech company Line and the Singapore sovereign wealth fund GIC. The business recently reported that between January 2020 and August 2022, meal orders increased by nearly 15 times. Read More..

B2B Tech News | 2 years ago        

Speedinvest brings another 500 million euros to the preseed and seed round table

With almost €1 billion in assets under management, Speedinvest began as a €10 million micro fund with macro ideas in 2011. Since then, it has rais

With almost €1 billion in assets under management, Speedinvest began as a €10 million micro fund with macro ideas in 2011. Since then, it has raised an additional €500 million. 11 years after it was founded in Vienna as a €10 million micro fund with macro aspirations, Speedinvest has announced a fundraising of €500 million, bringing the firms assets under management to almost €1 billion. Speedinvest will continue to provide preseed and seedstage capital to European entrepreneurs, according to the same concept that enabled its first three funds to generate gross returns of more than 5 times. Read More..

B2B Tech News | 2 years ago        

HB11 Energy targets a petawattclass highintensity laser facility on Australian soil

A recent nuclear fusion breakthrough at the National Ignition Facility NIF in California has been compared by the cofounder of the Australian deeptech

A recent nuclear fusion breakthrough at the National Ignition Facility NIF in California has been compared by the cofounder of the Australian deeptech startup HB11 Energy to the equivalent of a first moon landing for the global energy sector. This has led the Sydneybased company to bring international lasertech heavyweights to Australian soil in an effort to build sovereign capacity in the stilluncommercial field. In response, HB11 Energy formed a group of major players in the laser technology industry to launch a new Australian laser industry, which includes building a facility capable of producing ultrahigh intensity lasers of the petawatt class on Australian territory. Read More..

B2B Tech News | 2 years ago        

JD Indonesia is cutting 200 employees amid exit rumors

200 employees, or 30% of the workforce at JD.id, a joint venture between JD.com and Provident Capital, a key player in Chinese ecommerce. The company

200 employees, or 30% of the workforce at JD.id, a joint venture between JD.com and Provident Capital, a key player in Chinese ecommerce. The companys spokesman told Tech in Asia that the decision was made in response to the challenges of the quickly changing business environment.  The company promises that severance pay would be provided to affected employees in accordance with Indonesian laws and regulations. JD.com apparently wanted to leave Thailand and Indonesia in the past.  JD.id has been pitted against ecommerce behemoths like Shopee, Tokopedia, and Lazada in Indonesia. Read More..

B2B Tech News | 2 years ago        

DS Smith closes factory in Kent as it expands into Europe

The biggest packaging manufacturer in the UK has announced that it will shut down its Kent facility and increase production elsewhere in Europe, sayin

The biggest packaging manufacturer in the UK has announced that it will shut down its Kent facility and increase production elsewhere in Europe, saying that the anticipated repeal of EU regulations could worsen the countrys economic woes. Miles Roberts, CEO of DS Smith, stated that the companys international operations could no longer be subsidised by those in its home country. He also stated that it would be extremely helpful for manufacturers if the government aligned regulations with EU regulations wherever possible to promote trade. In light of the governments plans to examine or cancel up to 4,000 pieces of legislation that are drawn from the EU, his comments add to the cautions issued by UK businesses regarding a deeper break from the bloc after Brexit. Read More..

B2B Tech News | 2 years ago        

Lendingasaservice fintech AltScore closes $3.5 million initial round

In a seed fundraising round led by Far Out VC and including Caffeinated Capital, Techstars, Unpopular Ventures, Kamay Ventures, BuenTrip Ventures, Lor

In a seed fundraising round led by Far Out VC and including Caffeinated Capital, Techstars, Unpopular Ventures, Kamay Ventures, BuenTrip Ventures, Lorimer Ventures, and CompuSoluciones Ventures, the Ecuadorian fintech AltScore raised $3.5 million.  A B2B embedded credit infrastructure platform called AltScore enables any Latin American corporation to incorporate and implement credit solutions. Innovative underwriting, alternative data and scores, and additional lendingasaservice modules are all available. Businesses can improve customer retention and LTV by using AltScore. AltScore relocated its headquarters to Mexico, where it would focus its business. Customers of the business are located throughout South, Central, and North America. Nearly the past year, AltScore saw a 34% CMGR and over 10x rise in revenue YoY. Read More..

B2B Tech News | 2 years ago        

Korean companies are planning a more than $4 billion battery factory in Georgia

In order to develop a new plant northwest of Atlanta that would provide electric batteries for Hyundai and Kia electric vehicles built in the United S

In order to develop a new plant northwest of Atlanta that would provide electric batteries for Hyundai and Kia electric vehicles built in the United States, Hyundai Motor Group and a South Korean battery manufacturer have announced a joint investment of $4 billion to $5 billion in Georgia. The news was announced on Thursday by Hyundai and SK On, a branch of the SK Group in Korea. The plant, which would be situated just west of Cartersville, would start producing in 2025 and have a 3,500person workforce. As the auto industry transitions to electric vehicles, another electric battery plant is being built. Read More..

B2B Tech News | 2 years ago        

Sen, Londonbased creators of UHD planetary imagery streams of Earth, raises £2m

The first satellite to offer a highdefinition video feed of our beloved planet departed Cape Canaverals SpaceX commercial launch facility in January.Â

The first satellite to offer a highdefinition video feed of our beloved planet departed Cape Canaverals SpaceX commercial launch facility in January. Sen, a Londonbased business, celebrated the achievement using the cameras on the ETVAI spacecraft, the first satellite in its constellation project, which was launched on a SpaceX rideshare about 11 months ago. The technology is anticipated to empower humanitarian relief workers and enable them to lead responses to natural disasters on a truly global scale. A total of 100 satellites are envisaged. There would be four cameras on each satellite, calibrated with different spatial resolutions to cover continents, oceans, regions, and cities. Read More..

B2B Tech News | 2 years ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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