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.

Also Read:

Singapore’s Frasers Property to acquire 75% stake in Vietnamese realty firm PAD

Singapore’s Jungle Ventures said to seek over $150m for third fund