<article>While gaming manufacturer Razer is said to have downsized nearly 2 per cent of its workforce, Singapore-based mobile ad platform Novosol has raised a funding round.</article>

While gaming manufacturer Razer is said to have downsized nearly 2 per cent of its workforce, Singapore-based mobile ad platform Novosol has raised a funding round.
<h3>Staff layoffs at Razer, launches new SEA HQ in Singapore</h3>
Hong Kong-listed gaming manufacturer Razer has laid off 30 people, or 2 per cent of its workforce, according to a DroidLife report. This comes days after the company announced it was shutting its Razer Game Store as part of its realignment plans.
In a statement to DroidLife, Razer said it will centralise its resources to focus on key projects to improve its profitability. The company added that some staff members were laid off, while others were reassigned to other projects within Razer.
Razer did not elaborate on the future of its phone division, or confirm reports about the cancellation of Razer Phone 3.
On Friday, Razer announced the groundbreaking of its new Southeast Asian headquarters in Singapore.
This will be one of two global headquarters, the other currently situated in San Francisco. According to a statement, the upcoming Singapore headquarters will occupy 19,300 square metres of office space, R&amp;D labs and design studios across seven storeys.
Razer adds that the company employs around 400 staff in its Singapore office spanning roles from product development, sales and marketing, legal, finance, and more. It expects to boost this number by 2.5 times to 1,000 people by the end of 2020. The extra headcount will support the expansion of its business units, and emerging business areas.
<h3>SG adtech platform Novosol raises $7m Series A funding </h3>
Singapore-based mobile advertising platform Novosol has raised $7 million in a Series A funding round, according to an official statement.
No details on the investors were disclosed.
Novosol is the company behind moLotus, a platform that allows brands to interact with their customers via media video messages. These messages can be personalised, automated and digitalised to drive marketing and revenue for companies.
Its clients include AIA, Samsung, HDFC, Panasonic, Standard Chartered, HSBC, LOreal, CIMB Bank, Prudential BSN, Tata, AIG, Proton in Singapore, Malaysia and India.
Minhaz Lokhandwala, Founder &amp; CEO of Novosol said: &#8220;Today, mobile phones are already the primary advertising medium and with moLotus, brands will take the next step into consensual personalised interactions with their customers, leading to greater customer acquisition, revenue generation, customer support, convenience and cost savings.&#8221;
Novosol added that it will partner with mobile operators to scale revenue and markets rapidly. It said it has already collaborated with the top telecom operators in several countries to generate revenue streams for them.

While gaming manufacturer Razer has downsized nearly 2 per cent of its workforce, Singapore-based mobile ad platform Novosol has raised a funding round.

Asia Digest: Staff layoffs at Razer; Novosol raises $7m Series A

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Asia Digest: Staff layoffs at Razer; Novosol raises $7m Series A

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief