A Recap on What Happened This Week: Asian Startup News Overview (June 10th -June 16th)

While there is plenty of funding available for Asian startups, we know that the founders in the region require much more than just investment. Maintaining compliance with regulations that differ at the national, state, and provincial levels, gaining access to infrastructure or technologies, and increasing the current low rate of female entrepreneurship are all frequent challenges that startups face today. As a result, in order to meet the changing needs, Asian startups are exploring what is possible with the next wave of technological advancement to meet the changing needs of the region's online population. Many startups are coming forward to help solve long-standing social, financial, and environmental problems while some are frequently concentrated in areas where technology has not made as much progress as it has in more established sectors of the digital economy.

So we are in the 2nd week of june an we have seen startups raising fortune in seed funding rounds as well as expanding their territories across Asia. An Indian base gaming startup has acquired amount of a $2.2 million in a seed funding whereas a Hong Kong-based crypto firm Finblox has launched a new solution that aims to bridge the gap between the crypto and traditional financial realms.

Here is a list of the Five Startups that were fortunate this Week.

HighXP

HighXP, a casual gaming firm based in India that creates social games, has acquired $2.2 million in seed funding.

HighXP stated in a statement this week that the fundraising was spearheaded by 3one4 Capital, with participation from Prime Venture Partners and Gemba Capital.

Several notable angel investors, including Rahul Bhardwaj (Co-Founder and Chief Operating Officer of Junglee Games, Owl Capital), Anuj Tandon (Gaming Investor and Chief Executive Officer of Jetsynthesys), and Giri Patil (Vice President of Propertyfinder), participated in HighXP, according to the statement.

HighXP stated that the investment will be crucial in speeding the growth of the company's debut game, Doodle Me, which is available for free on the Google Play and Apple App Stores, as well as assisting the studio in developing further games.

OpenInfra Foundation

The Open Infrastructure Foundation, the open-source foundation that hosts projects such as the OpenStack cloud computing platform and the Starling X edge computing stack, announced today the establishment of two regional hubs, OpenInfra Asia in Singapore and OpenInfra Europe in Belgium, to promote and protect open source in those regions.

The foundation specifically states that, while OpenInfra Asia and Europe are separate legal entities, the foundation is not being split up. Instead, it refers to them as hubs, and their purpose is to provide the foundation with a better mechanism for supporting its local membership organisations and their needs.

GetLinks

GetLinks, a Thailand-based firm focused on supporting tech talent, has acquired Indonesian jobs platform Ekrut, according to VentureCap Insights, which tracks regulatory filings in Singapore.

Sources have reached out to Ekrut to find out more.

With the acquisition, GetLinks is slated to go up against heavyweights like JobStreet and Indeed in Indonesia. Job postings in the country have dropped since the beginning of this year, with active listings experiencing a 16.1% dip from January to April 2023.

Finblox

In a bid to cater to the increasing appetite among crypto investors for yield-generating traditional assets, Hong Kong-based crypto firm Finblox has launched a new solution that aims to bridge the gap between the crypto and traditional financial realms.

The company’s latest offering takes the form of tokenized rights to US Treasury Bills (T-Bills), providing crypto investors with access to an AAA-rated financial asset. Partnering with smart-contract vault OpenEden, Finblox aims to unlock a trillion-dollar market for Web3 users.

Fininfra

Access to credit would allow businesses to boost customer adoption, among other things, and Indonesia-based fintech firm Finfra is looking to fill this niche. The startup has raised US$1 million to help make this happen.

Finfra enables financial and non-financial businesses to embed credit lending services into their own channels.

The firm will use the fresh funding to grow its data, engineering, and finance teams, as well as to focus on accelerating product development.