Ecosystem Roundup: VinFast, Ohmyhome File for US IPO; Sayurbox, Glints, Amber Group cut jobs; ShopBack raises $30 million

Ohmyhome files up to $16.5 million IPO in US
The company intends to offer 3.3 million shares at a price of between US$4 and US$5 per share; In the filing, Ohmyhome said it posted revenue of $2.4 million for the six months ended June 30 of this year, up from $1.7 million in 2021.

Indonesian agritech company Sayurbox is cutting 5% of its workforce
The agritech company said the decision is one of its efforts to solidify “financial independence” and “sustainable long-term growth”; Sayurbox is a farm-to-table fresh produce distribution platform.

Vietnamese electric vehicle maker VinFast files for U.S. IPO to fuel global expansion
It hopes to compete with legacy automakers and startups in the US with its two all-electric SUVs, the VF8 and VF9, including battery leasing to reduce the purchase price.

Singapore-based Glints is laying off 198 (18%) employees
The decision is based on “market conditions and business priorities”; The development comes after the startup raised $50 million in a Series D funding round in August.

Animoca Brands acquires US-based music metaverse company Pixelynx
Pixelynx creates a physical and digital ecosystem for artists and fans by building products that blur the lines between music, gaming and web3; Animoca invested in Pixelynx’s seed round in December 2021.

ShopBack Raises $30M to Close Series F Round at $200M
The investor is the Australian Westpac Banking Corporation; ShopBack plans to launch new products for users, develop growth and payment solutions for merchant partners, and expand into new markets.

Osome collects $25M Series B to expand its accounting solutions beyond SG
Investors include Illuminate Financial, AFG Partners and Winter Capital; Osome helps SMEs get set up via a simple platform with user-friendly software and an experienced accountant to take care of the financial management.

Temasek-backed Haulio acquires Indonesian logistics startup Logol
Haulio makes moving containers ashore more efficient, while Logol streamlines data entry for logistics stakeholders, allowing shippers and carriers to connect with others within the supply chain.

SG crypto firm Amber Group is laying off hundreds of employees
This news comes after the company reportedly applied for funding in May that was valued at $10 billion; In February of this year, 200 million US dollars were last collected; The group previously cut 30-40% of its staff in September.

BAce Capital advises founders to chase value, not valuation
Managing Partner Benny Chen suggests all founders review their cost structure and improve operational efficiencies; Founders should also consider how an economic crisis will affect their competitors.

UnaBiz continues to raise funds to close $50 million Series B round
Investor is the Japanese, Toyota-backed SPARX Group; The IoT company will invest the capital in R&D to improve the low-power 0G core functions and enable cost-effective long-distance connectivity for very low-value assets.

Malaysia’s Paywatch rakes in $9 million for Philippines, Hong Kong expansion
Investors include Third Prime, Hana Ventures and Parkwood Corp; The earned wage access service company claims its solution has achieved a 50 percent engagement rate among its Malaysian users this year.

IMDA Launches $3.7M Fund for SG Media Industry
The Virtual Production Innovation Fund aims to help the media industry leverage virtual production technologies that use LED screens powered by a video game engine to create realistic backdrops for television or film production.

FinAccel expands board of directors with former Slack CFO
During his time at the professional messaging platform company, Allen Shim helped build Slack’s finance and operations function and oversaw Salesforce’s acquisition of Slack.

Why blockchain is critical to the future of trade finance
Conducting transactions over blockchain requires the digitization of the documentation created, exchanged and processed by the various participants in a supply chain.

Binance in talks to acquire ID crypto exchange Tokocrypto
Sources said that Tokocrypto will likely see layoffs after the acquisition; In September, the Indonesian company laid off 45 employees, or about 20% of its workforce.

Ex-Binance executives’ investment firm OFR supports HK Web3 platform Sprout
Sprout combines on-chain and off-chain ownership information for equity, token wallets, cap tables and team rewards in one centralized platform; In March, Sprout raised $3 million in seed capital.

A strategic sale or IPO likely within the next 3-5 years: Igloo CEO Raunak Mehta
CEO Raunak Mehta says Igloo is evaluating several M&A opportunities in SEA and is considering closing several deals over the next year.

‘Bring your most authentic self to the table, whether at home or at work’
CEO and Head of School at NewCampus Will Fan Discusses His Journey to Building the Next Centennial Brand; Finding authenticity can take five, ten or twenty years; Don’t rush it.

How I dealt with the biggest betrayal of my entrepreneurial life
I’m not a high-growth startup founder, but I’m sure many can relate to my journey and struggles as well: Yuhwen Foong, Founder of SushiVid.

How to get more constructive (negative) customer feedback and why
Negative feedback is necessary to help you understand how your customers actually feel and where your business can improve.

Fundraising or preparing your startup for fundraising? Build your investor network, search among 400+ SEA investors on e27 and connect or get fundraising insights. Try e27 Pro for free today.

The post Ecosystem Roundup: VinFast, Ohmyhome file for US IPO; Sayurbox, Glints, Amber Group cut jobs; ShopBack Raises $30 Million appeared first on e27.