Asia Digest: MealPal launches in Singapore; Blockchain startup Gamedex gets $800k

Photo from MealPal's Facebook page

Thailand-based digital collectible card firm Gamedex has raised $800,000 in its seed round led by crypto currency investor Invictus Capital, while US meal subscription startup MealPal has launched in Singapore, its 17th market.

US meal subscription startup MealPal launches in Singapore

US-based meal subscription service MealPal has officially entered the Asian market by launching in Singapore, seeking to compete with homegrown food delivery and subscription services like GrabFood.

Launched in 2016, MealPal allows customers in the US, Canada, UK, Australia, and France to receive 12 restaurant meals per month for a monthly fee of $95.88 or $7.99 per meal.

In Singapore, MealPal will work with both restaurants and hawker stalls to meet the demand of customers. It will work with hawkers at CBD centres such as Lau Pa Sat, Amoy Street Food Centre, and Timbre+ at One North.

A number of restaurants are also participating, including The Soup Spoon, Teppei Syokudo, and Tuk Tuk Cha.

“Singapore has without doubt been our most exciting launch of any other market. The nuances and unique qualities of the food culture here, how work colleagues cherish their lunchtime as an important social part of the day, and the incredible variety of food options from grain bowls to hawker Lor Mee means our launch couldn’t have come at a better time,” co-founder Mary Biggins said in a release.

Gamedex raises $800k in Invictus Capital-led seed round

Gamedex, a Thai digital collectible card games startup powered by blockchain, has announced that it has raised $800,000 in a seed round led by Invictus Capital, which specialises in cryptocurrency investments.

The company, founded in January, said it will use the proceeds of the seed round to build a Steam-like platform for blockchain-powered digital collectible cards and digital collectible card games.

Steam is a digital distribution platform developed by Valve Corporation.

In the seed round, investors purchased Gamedex tokens (GDX tokens) instead of equity, making it one of the first token seed rounds ever completed. Gamedex is not selling any more GDX tokens until at least August.

Invictus Capital CEO Daniel Schwartzkopff said digital assets were a $35-billion market last year while the cryptocurrency market neared $1 trillion. He expects the nascent non-currency crypto-collectibles market to reach $100 billion by 2022.

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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.