online food ordering

Southeast Asia’s Fave raises $20M and adds mystery strategic investor from China

So you thought group-buying was dead?! Not in Southeast Asia where Fave, a company that aims to connect local merchants with customers using discount sales, has closed a $20 million Series B round as it explores expansion opportunities. The startup began as fitness subscription service KFit, but it pivoted group-buying and coupons after it acquired Groupon’s businesses in Singapore, Malaysia and Indonesia. KFit continues to run, but the Groupon deal saw Fave CEO Joel Neoh return to the e-commerce space — Neoh previously started Malaysia-based GroupsMore which Groupon acquired within months of launch. He then went on to lead Groupon’s operations in Asia before leaving to start KFit in 2015. Fellow KFit/Fave co-founder Yeoh Chen Chow also spent time with Groupon as its regional operations di...

Go-Jek kicks off Southeast Asia expansion with Vietnam launch

Go-Jek, the Indonesia-based ride-sharing company valued at $5 billion, has begun its ambitious plan to increase its rivalry with Grab by expanding into three new markets after it opened shop in Vietnam. The service — which is known as Go-Viet — covers an initial 12 districts in Ho Chi Minh City with a motorbike on-demand service. Rival Grab is in five cities in Vietnam and its services include motorbikes, taxis, private cars and food delivery. The August 1 Vietnam launch as TechCrunch reported in June. The plan is to then expand into Thailand in September, and the Philippines before the end of this year. Singapore remains a market that Go-Jek would like to enter — it has held partnership talks with taxi operator ComfortDelGro — but it remains unclear whether, and when, that might happen. G...

A new $124 million for Brazil’s Movile proves that investors still see promise in Latin American tech

Brazil’s macroeconomic picture may be gloomy, but technology investors still see hope in the nation’s burgeoning technology sector — and a recent $124 million financing for the mobile conglomerate Movile is the latest proof that that the pace of investment isn’t slowing down. Brazil was already the hottest spot for technology investment throughout Latin America — with Sao Paulo drawing in the majority of the record-breaking $1 billion in financing that the region’s startups attracted in 2017. And with this latest funding for Movile, led by Naspers, that trend looks likely to continue. Indeed, Naspers investments in Movile (supplemented by co-investors like Innova, which participated in the most recent round) have been one of the driving forces sustaining the Brazilian startup community. In...

Deliveroo fattens its market presence by opening to restaurants that do deliveries

Restaurant food delivery startup Deliveroo is taking the next logical step to expand its business by opening up to restaurants that have their own delivery fleets — thereby also expanding the food choices it can offer its couch-loving users. Next month the company will launch the new service, called Marketplace+, in seven of its markets — onboarding restaurants that do their own food deliveries to its platform, and offering them the ability to tap into Deliveroo’s network of riders to extend their delivery services and support faster delivery times if they choose (it says restaurants will be able to “choose for themselves how best to offer delivery” but the impact on, for example, existing delivery fleet staff employed by larger food chains remains to be seen). Commenting on the launch in ...

Ride-hailing firm Grab launches new venture to back startups in Southeast Asia

Grab, the ride-hailing firm that acquired Uber’s Southeast Asia business, is aiming to catalyze the early-stage startup scene in Southeast Asia after it launched an accelerator and investment unit called Grab Ventures. The six-year-old company has already made investments and acquisitions — backing startups like Drive.ai and buying Indonesia’s Kudo and India-based iKaaz — and Grab Ventures will build on that by making 8-10 investments over the coming 24 month period, but it is also offering different kind of support. The firm will offer an accelerator program for “growth-stage” companies and play a hand incubating new services inside Grab, according to Chris Yeo, Head of Grab Ventures. That accelerator effort — called ‘Velocity’ — will launch its first intake before the end of the year wit...

Latin America’s Movile is quietly building a mobile empire

By 2020, Brazilian mobile giant, Movile, wants to improve the lives of more than one billion people through its apps. The company began its mission in 1998 selling gaming, news and SMS messaging services to mobile operators in Brazil. After receiving its first investment from South African-based global investor Naspers 10 years ago, Movile grew into one of the largest and most successful mobile companies in Latin America, with more than 150 million monthly active users of its apps and estimated revenues over $240 million. Movile’s app, PlayKids, propelled the company to the global stage. A platform that offers educational products and content for children, PlayKids in 2014 reached more than 6 million downloads within a year of launching, and 5 million active users per month. From there, Mo...

Naspers and Meituan invest $100 million in Indian delivery business, Swiggy

The Indian food delivery startup Swiggy has raised $100 million in its latest round of funding. Led by the global investment and media conglomerate, Naspers, with participation from the Chinese e-commerce company Meituan-Dianping, the investment is an indicator that the Indian technology market is hitting its stride. The company said that it will use the funding to introduce new products and services and further expand its supply chain business, New Supply, which launched late last year. The first product from New Supply, was Swiggy Access, which offered kitchen space as a service to select restaurants so they could expand their geographic reach in cities across India. And Swiggy has also gotten into restaurant financing through a partnership with an Indian fintech company. “We want to con...

With just one day left in open enrollment, companies turn to Stride Health for help

The compressed timelines of this year’s open enrollment period for government-mandated healthcare have left some companies in the lurch, and as the final hours to enroll tick by, they’ve turned to the startup company Stride Health for help. Stride manages a number of different tax and healthcare-related information for customers, including Uber, Etsy, Postmates, TaskRabbit, Instacart, DoorDash, Care.com and Homebase. Now a clutch of other gig economy companies, like Fiverr, Dribbble, Bonsai, HoneyBook, Samaschool and Wonolo have signed up for the service — and the motivating factor is healthcare, according to chief executive Noah Lang. “The government is spending less this year to promote the importance of having health insurance, so these companies have taken it upon themselves to make su...