Asia Digest: HYPERLAB receives commercialisation grant; Tuya raises Series B funding

More Asia startups in frontier tech have bagged funding. HYPERLAB, a Malaysian company, announced it secured a commercialisation grant from PlaTCOM Ventures. Meanwhile, Chinese IoT firm Tuya has raised a Series B round.

HYPERLAB receives commercialisation grant from PlaTCOM Ventures

HYPERLAB, an artificial intelligence (AI) startup, has secured an undisclosed grant from PlaTCOM Ventures Sdn Bhd, the Malaysian national technology commercialisation platform.

The financing was made under High Impact Programme 2 (HIP2), one of the six such programmes of the SME Masterplan 2012-2020 of SME Corp.

HYPERLAB uses natural language processing and AI to enhance the way businesses communicate with their customers. It is working with major firms in Malaysia and Singapore such as Maxis, U Mobile, Hong Leong Bank and Cerebos to develop cognitive virtual agents that can understand English, Bahasa Malaysia and Chinese.

The startup said the grant by PlaTCOM will allow it to improve its natural language understanding capabilities to support more Southeast Asian languages.

Prior to this financing, HYPERLAB had raised a $500,000 seed funding round when it was still in stealth mode.

PlaTCOM offers grants of up to RM1.2 million ($283,000) to each company.

The platform was approved for implementation in December 2013 by the National SME Development Council of Malaysia and the Governance Council of Agensi Inovasi Malaysia.

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Malaysia’s HYPERLAB gets $500K seed fund to launch communication platform

Tuya raises hundred millions of RMB in funding

Chinese IoT solutions provider Tuya Inc has reportedly secured hundreds of millions of Chinese yuan in its Series B fundraising round.

Investors include China International Capital Co Ltd, Oriental Fortune Capital, New Enterprise Associates, and Quadrille Capital, according to China Money Network.

Founded by Jerry Wang, a founding executive of AliYun, Alibaba’s cloud division, and a group of veterans from Chinese tech giants Alibaba, Baidu and Haier Electronics, Tuya offers smart home appliance like light bulb and air conditioner which can be controlled via its cloud platform.

The company is based in Hangzhou and has offices in Shenzhen, Hong Kong and Silicon Valley.

The IoT industry in China exceeded RMB930 billion ($142 million) in output value in 2016, compared to RMB170 billion in 2009. The sector is growing rapidly with a CAGR of over 25 per cent, local authorities said recently.

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.