Lapasar Secures RM31 Million Investment, Targets RM1 Billion Revenue by 2026
Lapasar secures RM31 million investment from prominent investors, signaling aggressive growth plans in the FMCG sector with the aim to reach RM1 billion revenue by 2026. The tech-enabled distributor plans to enhance its product range and operational capabilities to solidify its position in Malaysia’s FMCG industry. 24 February 2024 – Lapasar Sdn Bhd, a local startup, has successfully raised RM31 million in investments from...
MDEC’s eUsahawan and Gig Fest Showcase Path to Inclusivity
Malaysia Digital Economy Corporation (MDEC) organized the eUsahawan and Gig Fest to showcase achievements in fostering inclusivity in the digital economy. With training programs benefiting entrepreneurs and students, MDEC aims to propel Malaysia’s digital landscape forward. 21 February 2024 – Malaysia Digital Economy Corporation (MDEC) orchestrated a landmark event today with the inaugural eUsahawan and Gig Fest at the...
Malaysian Economy Expands by 3% in Q4 2023
The Malaysian economy grew by 3% in the fourth quarter of 2023, driven by strong household spending and investment activity, despite subdued exports. Despite challenges from weak external demand and inflation moderation, the outlook for 2024 remains positive, with resilient domestic expenditure and an expected recovery in external demand supporting continued growth. 19 February 2024 – The Malaysian economy expanded by 3% in the...
Shopee Live Presents Budget-Friendly Chinese New Year Finds for Malaysians to Celebrate with Joy and Style!
Shopee, the leading e-commerce platform, has launched an exclusive Chinese New Year collection to enhance the festive spirit for shoppers. Featuring a wide array of products from traditional attire to home decor, Shopee’s curated selection offers convenience and affordability for a joyous Lunar New Year celebration. 6 February 2024 – As Chinese New Year approaches, the anticipation for renewal and festivity grows among...
Merkle’s Research Unveils Strategies for Nurturing Loyalty in Today’s Digital Age
Merkle’s pioneering research illuminates evolving consumer expectations and urges brands to prioritize responsiveness to stated preferences for enduring customer loyalty, offering transformative insights into navigating today’s digital landscape. 6 February 2024 – Merkle, the premier technology-driven customer experience management (CXM) entity within dentsu, has launched the inaugural chapter of its groundbreaking...
Malaysian Innovators Develop Revolutionary Wireless Charging Tech for Satellites, Set for Lunar Testing
A trio of 29-year-old Malaysians has developed a wireless power bank for satellites, demonstrating Malaysia’s technological prowess. The technology, using radio signals for wireless charging, is set to be tested on the moon in collaboration with lunar rover developer Astrolab. The team aims to dispel the notion that Malaysians are only technology users, encouraging more innovation within the country. 1 Feb 2024 – A group...
Zurich Insurance Group Launches Fifth Innovation Championship, Paving the Way for Global Collaboration with Startups in Insurance and Digital Transformation
Zurich Insurance Group launches the fifth edition of the Zurich Innovation Championship, inviting startups worldwide to collaborate locally and globally. With a unique matchmaking approach and global reach, the championship aims to pioneer groundbreaking partnerships in the insurance industry. The program, spanning from May to September 2024, will see ten winning startups working closely with Zurich teams, showcasing joint solutions,...
Matrade Launches eBizLink to Propel Malaysian MSMEs into Global Markets Through Digital Innovation
Matrade launches the eBizLink program to encourage Malaysian MSMEs to explore international opportunities through innovative technologies and digitalization. The program, running until 2025, aligns with the government’s goal of achieving a 15% contribution to exports from Malaysia’s MSMEs. Matrade aims to lead global campaigns, leveraging digital channels and collaborating with international partners, while also...
TikTok Secures Majority Stake in Tokopedia in US$840 Million Deal, Signals Reentry into Indonesian E-commerce
TikTok completes an $840 million deal to acquire a 75.01% stake in Indonesia’s leading e-commerce platform, Tokopedia, allowing the Chinese social media giant to re-enter the country’s online shopping sector. The partnership with Indonesian tech conglomerate GoTo positions TikTok to integrate its TikTok Shop’s Indonesia operations into Tokopedia, marking a strategic move to navigate the challenges posed by the...
Shopee Malaysia’s Affiliates Optimistic About 2024 E-commerce Opportunities: Embracing Human-Centric Content and Local Business Support
Shopee Malaysia’s “Championing Inclusive Commerce 2024” study reveals a 90% positive outlook among affiliates, emphasizing a shift toward human-centric content, authentic engagements, and strong support for local businesses. 31 January 2024 – Shopee Malaysia has recently unveiled the results of its “Championing Inclusive Commerce 2024” study, conducted among over 3,000 Shopee Affiliates. The...
Antler Announces Record Pre-Seed Investment of US$5.1M, Backing Southeast Asia’s Tech Innovators
Antler, a global venture capital firm, announces its largest pre-seed investment round of US$5.1M, supporting 37 startups in Southeast Asia, including Malaysia. The diverse portfolio spans 19 sectors, reflecting Antler’s commitment to nurturing the next generation of tech entrepreneurs and addressing regional challenges. 31 January 2024 – Antler, the renowned global early-stage venture capital firm, has announced a...
Chinese E-Commerce App Temu Surprises with Popularity Among Boomers and Gen X Shoppers in the US
Chinese e-commerce app Temu has gained unexpected popularity among Baby Boomers and Generation X shoppers in the US during its first full year of operation, according to research by Attain. The app’s diverse product mix, discounts, and gamified shopping experience make it appealing to a wider demographic, challenging its initial reputation as a platform primarily for younger consumers. 25 January 2024 – Contrary to its...
Global E-Commerce Platforms Market Set to Reach USD 21.0 Billion by 2032
The E-Commerce Platforms market is poised for substantial growth, projected to reach USD 21.0 billion by 2032 with a CAGR of 13.7% from its 2023 valuation of USD 6.8 billion. E-Commerce Platforms, empowering businesses for online retail operations, play a pivotal role in the global shift towards online shopping. The market is marked by continuous evolution, diverse solutions, and technological advancements, enhancing capabilities for...
AI Startup ElevenLabs Achieves Unicorn Status with $80 Million Series B Funding
ElevenLabs, the AI startup based in London, has achieved unicorn status with a $1.1 billion valuation following an $80 million Series B funding round led by Andreessen Horowitz. The two-year-old company specializes in AI-generated voices and plans to expand its workforce from 40 to 100 employees by the end of the year. With a growing customer base, including partnerships with Storytel and The Washington Post, ElevenLabs aims to...
Malaysian SMEs Set for Growth in 2024 Despite Challenges, Says Employment Hero Report
Despite concerns over rising costs and inflation, a significant 79% of Malaysian SMEs are confident about their growth prospects in 2024, according to the SME Sentiments Report by Employment Hero. The report also highlights challenges such as rising costs, staff upskilling issues for medium-sized businesses, and outlines opportunities in digital transformation, global expansion, and employee education. 19 January 2024 –...
Digital Momentum: Indonesia’s E-Commerce Sector Surpasses $29 Billion in Transactions Despite Value Dip
Indonesia’s e-commerce sector reports transactions worth $29 billion in 2023, with a slight decrease in value but a significant rise in transaction volume. Digital banking services and transactions through digital payment platforms show robust growth, reflecting the country’s dynamic digital landscape and the government’s push for digitalization. 18 January 2024 – Indonesia’s thriving e-commerce sector...
Malaysian Food Startup, Meals in Minutes, Secures $1.5 Million in Seed Funding to Fuel Expansion
Meals in Minutes, a Malaysian food startup, secures $1.5 million in seed funding led by 500 Global, aiming to expand its innovative frozen meal kit concept across Malaysia, Singapore, and the United Kingdom. The funding will also support research and development and enhance marketing efforts for broader market reach. 18 January 2024 – Malaysian-based food startup, Meals in Minutes, has recently closed a successful seed funding...
Treasure Global’s ZCITY Revolutionizes Live Commerce on Meta, Redefining E-commerce Innovation Globally
Treasure Global announces its pioneering move into live commerce on Meta Platforms through ZCITY, following its success on TikTok. With a focus on AI-human interaction and a diverse product showcase, the company aims to tap into Meta’s vast user base and global market potential. 11 January 2024 – Treasure Global Inc, a forward-thinking technology solutions provider, proudly announces its latest milestone in live commerce...
Depa Launches Million-Baht Boost for Thai Digital Startups
The Digital Economy Promotion Agency (DEPA) is offering financial support to Thai digital startups across key sectors, allocating up to 1 million baht per project. The “D-startup” initiative, functioning as an “angel fund,” targets early-stage startups, with an application window open until June 30, aiming to boost Thailand’s digital industry and enhance competitiveness. 9 January 2024 – In a...
TikTok Sets Sights on $17.5 Billion US E-commerce Surge in 2024, Posing a Formidable Challenge to Amazon
TikTok, owned by ByteDance, eyes a tenfold surge in its US e-commerce business, targeting $17.5 billion in 2024. This ambitious goal intensifies competition with Amazon, as TikTok leverages its unique blend of entertainment and e-commerce through TikTok Shop. The platform’s global expansion, increased merchant fees, and growing user base position TikTok as a formidable player in the evolving e-commerce landscape. 6 January 2024...
