Indonesia-based legal tech startup, Hukumku, has successfully completed a funding round led by Southeast Asian venture capital firm East Ventures. The funds raised will be utilized to accelerate the development of Hukumku’s platform and support its marketing efforts as it plans to launch in November of this year. The ultimate goal of Hukumku is to provide a wide range of legal services and become a comprehensive solution for legal needs in Indonesia.
Fritz Hutapea, co-founder and CEO of Hukumku, expressed gratitude for the support received from East Ventures. Hutapea emphasized the mission of democratizing legal access in Indonesia and the company’s commitment to utilizing technology to make legal services accessible to all.
In a similar vein, Parallax, a Philippine cross-border payments company, has secured USD 4.5 million in seed funding. The funding round was led by Dragonfly Capital and included participation from Circle Ventures, General Catalyst, and angel investors. Parallax plans to use the funds to expand its team and scale its operations, with a particular focus on the cross-border payment market valued at USD 21 trillion.
South Korean food tech startup, HN Novatech, has also secured funding. The company raised USD 4 million in a Series A bridge round led by Logan Ventures. HN Novatech recently launched ACOMS, a proprietary heme-based seaweed ingredient for plant-based meat applications. The funding will further support the company’s growth and development.
NTU, NUS, and Temasek, prominent institutions in Singapore, have jointly launched a SGD 75 million (USD 55 million) deeptech pilot program. The program aims to expedite the development of successful deeptech startups originating from research pipelines at NTU and NUS. It includes the development of a common IP licensing framework to streamline the licensing and translation of university-developed technology for spin-off companies. Temasek will contribute SGD 65 million (USD 47.7 million) to the initiative, while NTU and NUS will each invest SGD 5 million (USD 3.67 million).
HSBC Malaysia has unveiled a MYR 500 million (USD 106.9 million) fund to support tech-led startups in Malaysia. The fund will primarily assist high-growth, new economy businesses, focusing on Malaysia’s digital economy.
Additionally, Aelf, a Singapore-based blockchain solutions company, has launched a USD 50 million investment fund called Aelf Ventures. The fund aims to provide financial support to Web3 blockchain projects, particularly high-performance Layer-1 blockchain initiatives.
In other news, Protégé Ventures has launched the Marina & David Su Protégé Ventures Fund II with SGD 500,000 (USD 367,000) in funding. This student-run venture fund program, affiliated with the Singapore Management University Institute of Innovation & Entrepreneurship, aims to support early-stage technology startups founded by students or recent graduates from Singaporean tertiary institutions.
Vertex Ventures Southeast Asia and India, an early-stage venture capital firm, has successfully concluded fundraising for its fifth fund. The firm secured USD 541 million in commitments, 80% more than its predecessor fund. Vertex Ventures focuses on investing in high-growth startups in Southeast Asia and India across various sectors.
Lastly, Hong Kong-based blockchain gaming group, Animoca Brands, has raised USD 20 million to advance its Mocaverse project. The project aims to create Web3-native tools for the gaming, culture, and entertainment sectors. Funding for the project was led by CMCC Global, with participation from other notable investors.
Sources:
– Hukumku: East Ventures
– Parallax: Dragonfly Capital, Circle Ventures, General Catalyst
– HN Novatech: Logan Ventures
– NTU, NUS, Temasek: NTU, NUS, Temasek
– HSBC Malaysia: TechNode Global
– Aelf: Tech in Asia
– Protégé Ventures: Tech in Asia
– Vertex Ventures Southeast Asia and India: Tech in Asia
– Animoca Brands: Animoca Brands