Rakuten Accelerator, powered by Techstars in Singapore, has onboarded 10 startups to join its three month program while, in Myanmar, Phandeeyar completed its Startup Challenge 2018, which saw 37 startups pitching their ideas and six teams winning awards. Also, Philippine startup Social Light has raised funding.
Rakuten Accelerator gets 10 startups on board
The program, which kicked off July 16, is the first for Techstars in Southeast Asia. The startups were selected on their social messaging technologies based on the Viber application. Areas considered for the program included AI using chat bot, ad tech, VR and AR solutions, voice recognition, image recognition, translation and chat-based IoT.
The purpose of the program is to have a revolutionary way of communication between businesses and consumers through messaging.
The 10 startups who have joined the programme include: Additor from South Korea; And Global and Shoffr from Singapore; Elumium from United Kingdom; Groovy Antoid from Lebanon; Immersive Systems from the U.S; Jazzy Pay from the Philippines; Retarget Links from Canada; Rooit from Taiwan; and Talk-a-Bot from Hungary.
Phandeeyar Startup Challenge 2018 sees six tech teams win awards
Yangon-based innovation hub, Phandeeyar completed its Startup Challenge 2018 which saw 37 startups pitching their ideas and six winning cash awards totalling $15,000.
Brocode, Dhobi.com, Lan Kyone, Fasion Geeks, Hydro Plant and Myanmar Young Agripreneurs were among the winners of the Startup Challenge.
In March 2018, Phandeeyar completed its second cohort of its six-month accelerator program, bringing up seven tech startups to have a revenue stream in the local market.
Phandeeyar makes a $25,000 investments in each startup graduating from its accelerator in exchange for an equity stake. Chate Sat and White Merak, born out of Phandeeyar’s accelerator, have raised investments from foreign and local investors.
Social Light raises $470k led by Cerebro Labs
Philippines-based WiFi advertising company Social Light Inc has raised PHP25 million ($470,628) led by Cerebro Labs, a tech business incubator and accelerator from the Philippines, the company announced.
“With the help of our investor, Cerebro Labs, we know that we can succeed in our goals to give and spread free wifi to the Filipinos,” said Francis Simisim, President and CEO of Social Light Inc.
The proceeds of the latest financing raised will be used for Social Light’s Asia expansion plans and scale the team, said Simisim to this portal.
Vayafi, Social Light’s core product, has currently rolled out in the Philippines, Singapore, Australia, and New Zealand.
“I have seen how free WiFi in the country has been unreliable and costly to maintain. By incentivizing our stakeholders such as public places, telecommunications and other internet service providers, we can ensure that free WiFi expands further and makes good business sense by using Vayafi,” said Atencio.
Two years ago, Australian listed technology company Tomizone Inc planned to purchase Social Light but a year later both parties decided to withdraw the plan.