Asia Digest: 500 Startups invests in LottieFiles; Accelerating Asia launches third cohort

The 500 Startups logo is displayed at the company's Capital Towers office in Singapore. Photo: Ipsita Ray/DEALSTREETASIA

Malaysia-based design and animation startup LottieFiles announced that it has raised an undisclosed amount in funding from 500 Startups and Adobe Fund for Design. Meanwhile, Accelerating Asia is set to invest up to $141,000 each in its 3rd startup programme.

500 Startups invests in Malaysian startup LottieFiles

Malaysia-based design and animation startup LottieFiles announced that it has raised an undisclosed amount in funding from 500 Startups and Adobe Fund for Design.

LottieFiles said that it will use the funding to spruce up its R&D efforts.

Founded by two entrepreneurs Kshitij Minglani and Nattu Adnan, LottieFiles aims to pave the future of animation with a new file format, Lottie (which on an average is 600 per cent smaller than a GIF) and its animation workflow platform.

It has offices across San Francisco and Kuala Lumpur, and its user base is spread across 60 countries.

Accelerating Asia launches third cohort

Singapore-based startup accelerator and early-stage venture capital fund Accelerating Asia has announced that it will invest S$200,000 ($141,000) in startups entering its 3rd accelerator programme.

According to an announcement, this investment will be made through a simple agreement for future equity for around of 7-10 per cent.

In January, Accelerating Asia officially unveiled its second cohort with ten startups.

Since its launch in 2018, Accelerating Asia has grown into a community of more than 39 founders from 19 startups, spread across nine countries with 40 per cent female-led or co- founded ventures.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.