In today’s briefing:
- Rebellions: Challenging Nvidia in the AI-Powered Semiconductor Chips
- Indian Home Decor Unicorn Livspace Slashes 100 Jobs
- Japanese Bank Mizuho Leads ~US$270M Series D Equity Round of Kredivo
- QR Payment Solution for Restaurant Consumers Qlub Secures US$25M Funding
- Vietnam’s Vingroup Invests in Grab Competitor Be
Rebellions: Challenging Nvidia in the AI-Powered Semiconductor Chips
- Established in 2020, Rebellions is a leading AI based fabless startup in Korea. In February 2023, Rebellions launched a new artificial intelligence chip, challenging the global leader NVIDIA.
- According to the company, its ATOM chip targets specific tasks, allowing the chip to consume only about 20% of the power of an Nvidia A100 chip on those tasks.
- Since the company’s inception, Rebellions raised 122 billion won in funding including 30 billion won from KT. The company was last valued at 350 billion won in June 2022.
Indian Home Decor Unicorn Livspace Slashes 100 Jobs
- KKR-backed home decor unicorn Livspace said it has let go of 2% of its over 5,000-member workforce as it aims to hit profitability as early as this year.
- Founded in 2014, Livspace offers tech-enabled interior design and renovation services, positioning itself as the Amazon of home decor.
- One of its notable offerings is Canvas, a SaaS platform that lets designers engage with their customers.
Japanese Bank Mizuho Leads ~US$270M Series D Equity Round of Kredivo
- Kredivo Holdings (formerly FinAccel), the parent company of Kredivo and Krom Bank Indonesia, has closed its Series D equity round of funding at ~US$270 million.
- Founded in 2016, Kredivo is a leading player in the digital financial services industry. It provides customers with instant credit financing for e-commerce and offline purchases and personal loans based on proprietary, AI-enabled real-time decisions.
- The products include online and offline Buy Now, Pay Later, personal loans, credit cards (physical and virtual) and neobank Krom.
QR Payment Solution for Restaurant Consumers Qlub Secures US$25M Funding
- qlub, a payment solution that splits restaurant bills between customers, has raised US$25 million in a new funding round, bringing its total fundraising to US$42 million.
The startup plans to use the new capital to accelerate growth, expand to new markets, and build new value-added services for restaurants and customers on the qlub platform.
qlub enables customers to pay their restaurant bills in various options — as a group, splitting, or tipping — without needing an app or registration.
Vietnam’s Vingroup Invests in Grab Competitor Be
- Green and Smart Mobility (GSM) said it will back ride-hailer Be Group‘s efforts to use electric vehicles in Vietnam.
GSM was just launched earlier this month by Vingroup chairman Pham Nhat Vuong.
In the first phase of their collaboration, Be Group and GSM will partner with Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) to offer exclusive policy deals for Be drivers to rent or purchase VinFast electric cars and motorbikes.
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