Singapore’s tech news in July 2023 covered items as diverse as: Alibaba’s increasing stake in Lazada e-commerce giant; semiconductor manufacturing for chiplets in Singapore; ‘purpose-bound’ digital currency developments; and more.
Hit the Singapore tech news headlines below to read each article, in full, online and free of charge.
pwc: Fintech Innovation in Singapore – sustaining growth in uncertain times
- Singapore’s UnaBiz looks to raise $100M Series C with retail tracking units capturing demand from retailers and manufacturers during freight delivery, without use of expensive telecom networks
- Singapore central bank, Amazon and Int’l Monetary Fund unveil ‘purpose-bound’ money concept, proposing digital currencies for specific uses via blockchain and non-blockchain ledgers
“Currently, e-commerce often requires upfront payment, securing the interest of merchants while leaving customers vulnerable. Conversely, cash-on-delivery options prioritize customer security but leave merchants, especially those dealing with perishable goods such as food, exposed to risk.”
“The MAS claims that its new concept of purpose-bound digital money could bridge this gap. By ensuring funds are transferred once service obligations have been fulfilled, it promises to provide an equitable solution, benefiting both consumers and merchants.”
- Singapore: Sunrate digital payment platform gains funding in round led by Prosperity7 Ventures, fund under Saudi oil group’s Aramco Ventures, and also featuring SoftBank Ventures Asia
- Singapore: An intro to Zero-Error Systems, making ‘hardened’, more reliable semiconductors for satellites and space use, EVs, autonomous vehicles and more
Tech in Asia Conference 2023 – October 18-19, Jakarta
- Singapore: Hydroleap green wastewater tech firm raised $4.4M Series A funding with chemical-free treatment solutions for a variety of industries
- Singapore-based Lazada e-commerce giant gains $845M from Alibaba, further deepening Alibaba’s controlling stake in the company
“Lazada’s affiliation with Alibaba’s Global Digital Business Group, alongside AliExpress, Trendyol, and Daraz, helps the startup to grow a network of prominent e-commerce platforms under Alibaba’s umbrella.”
“The recent reorganization of Alibaba into six business units, including Lazada’s placement under the International Digital Business Group, is a strategic move aimed at increasing agility and autonomy, potentially paving the way for Lazada’s future Initial Public Offering (IPO).”
“Industry analysts have highlighted the potential benefits of this decentralization, indicating that it could grant Lazada the flexibility to make faster and more localized decisions, catering to the diverse and rapidly evolving markets in Southeast Asia.”
- Singapore: Silicon Box opes $2BN, 73,000-square metre advanced semiconductor manufacturing facility to focus on ‘chiplets’ tech
- Singapore: Zuno Carbon climate-tech firm gains $2.5M with Veridis ESG management platform, providing auditable tracking of greenhouse gas emissions and AI-driven analysis
- Australia’s VentureCrowd equity crowdfunding platform inks JV with Singapore’s Lightworks Ventures for SE Asia expansion
United States, Taiwan & Semiconductors: Critical Supply Chain Partnership
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