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.