SEA Digest: CloudEats bags seed funding; LinkAja launches sharia service

Photo by Ke Vin on Unsplash

Philippines-based cloud kitchen startup CloudEats has secured $1.4 million in a seed funding round, while Indonesia’s state-owned e-wallet Fintek Karya Nusantara, otherwise known as LinkAja, has launched a new sharia e-money service.

Philippines-based CloudEats bags seed funding

Philippines-based cloud kitchen startup CloudEats has secured $1.4 million in a seed funding round led by an undisclosed local family office, Tech in Asia reported on Wednesday.

Several angel investors also participated in the round.

Launched in June last year, the startup has partnered with 70 in-house restaurants and currently operates five cloud kitchens in the Philippines. Its meals are available through GrabFood, Foodpanda, and Lalafood.

CloudEats plans to use the proceeds to expand across the country and to add at least 20 cloud kitchens in the archipelago, the report said. It plans to add around 100 cloud kitchens across Southeast Asia, while also launching its in-house brands in four countries within two years.

LinkAja launches sharia-compliant e-money service

Indonesia’s state-owned e-wallet Fintek Karya Nusantara, better known as LinkAja, has launched a new sharia-compliant e-money service, the company announced on Thursday.

The startup has secured the Indonesia Ulema Council (MUI) certificate for its sharia e-money service as well as approval from Bank Indonesia. It has partnered with a number of Islamic banks for the service which will enable e-money transactions in accordance with sharia, or Islamic law, principles.

The service will prioritise transactions such as non-cash payments for online donations, zakat (alms giving) and waqf (charitable endowment under Islamic law).

The service will not allow transactions that are not in accordance with sharia such as gambling, gharar (obscurity), usury, and non-halal goods.

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.