Ecosystem Roundup: AI companies secure US$50B in 2023 | Hyperloop One shutting down | Should Gen AI be regulated? | e27

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Expensive reader,

The worldwide AI sector has witnessed a rare surge, with firms amassing a staggering US$50 billion in funding this yr, marking the second-highest determine in market historical past. This upswing signifies the business’s exceptional development, doubling in simply three years to a valuation of US$240 billion, boasting 1 / 4 of a billion customers worldwide.

Regardless of a 42% drop in fundraising exercise from the record-breaking 2021, the AI sector managed to safe a considerable US$45.2 billion in 2022. Impressively, 2023 outperformed its predecessor, with a complete of US$49.8 billion raised, indicating a strong rebound within the latter half of the yr.

Notably, firms achieved this feat with fewer funding rounds, highlighting the power to draw extra substantial capital per funding. The cumulative funding within the AI house now stands at a formidable US$333 billion, with the US main at US$189 billion, adopted by Asia at over US$96 billion and Europe at US$35.3 billion.

Sainul,
Editor.
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AI firms raised report US$50B in 2023 globally: information reveals
Nonetheless, the variety of AI funding offers got here right down to 842 VC in 2023 from 1,101 in 2022; The worldwide AI business has greater than doubled in simply three years, reaching a US$240 billion worth and 1 / 4 of a billion customers worldwide.

Residence Credit score Indonesia secures US$100M from MUFG
Residence Credit score Indonesia was initially a subsidiary of the Netherlands-headquartered shopper finance agency Residence Credit score; Final yr, MUFG acquired its Indonesian and Philippine models for about US$621M.

Indonesia’s Evermos sues ex-employee for founding competing startup
Reynaldi Gandawidjaja, founder and CEO of Orderfaz, beforehand served as Evermos’s enterprise technique supervisor; Evermos mentioned that Orderfaz’s founding violates a two-year non-compete clause that was a part of Gandawidjaja’s employment contract.

ByteDance reportedly earns US$110B in 2023
The determine doubtless surpasses that of Tencent, which generated US$63.5B within the first three quarters of 2023; ByteDance’s development charge this yr is roughly the identical because the 30% it achieved in 2022, in accordance with the report.

Hyperloop One is reportedly shutting down
It’s the most recent stumble within the tech business’s try to liven up an thought Elon Musk first put forth in a white paper in 2013; It comes after Hyperloop One raised and spent tons of of hundreds of thousands of {dollars} since its founding in 2014.

Xiaomi sacks workers over leaks associated to first EV
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SoftBank-backed Riiid acquires Korean edtech firm Qualson
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Dubai’s carbon administration platform Zeroe nets US$2.2M for SEA enlargement
The investor is Indonesia-based Owen Rahadiyan; Zeroe provides an AI-powered platform that enables enterprises to measure emissions and report on decarbonisation efficiency to stakeholders.

Neutura luggage angel funding to remodel agri waste into helpful sources
Neutura transforms biomass into biochar through pyrolysis, successfully sequestering carbon and stopping its launch into the ambiance; Past soil enrichment, it enhances water retention, soil construction, and crop well being.

Sehat Kahani secures US$2.7M to widen e-health attain in Pakistan
The lead investor is Singapore-based Amaanah Circle; Sehat Kahani’s B2C platform permits particular person customers to entry docs, labs, and e-pharmacy companies on-line; It additionally runs 62 e-health clinics nationwide.

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AC Ventures goals to drive optimistic societal change, financial affect in SEA
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Hydrexia permits customers to retailer, transport hydrogen extra economically
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These 3 startups reveal their product growth methods
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Muuse needs to get rid of single-use containers in SG’s thriving F&B scene
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Unlocking inexperienced fintech prosperity in Asia: Navigating the highest 4 challenges
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Evercomm needs to pave the best way for company decarbonisation success
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Consultants advocate considerate regulation for the speedy rise of Generative AI
Southeast Asia’s AI leaders talk about Generative AI’s rise, emphasising accountable innovation, moral governance, and the pressing want for considerate regulation.

High 10 ladies contributors spearheading resilience within the startup panorama
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High 10 contributors investing in innovation and rising tech
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Izwan Zakaria: Navigating authorized frontiers within the startup panorama
Izwan offers important insights on overcoming authorized challenges within the dynamic startup panorama for entrepreneurs and tech fanatics.

AI-powered omnichannel touchpoints to unlock enterprise development
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Unlocking development: How AI can supercharge Southeast Asia’s economic system
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Hacking buyer engagement in Indonesia’s agri provide chain
Indonesian provide chain platform Sayurbox empowers its clients via a seamless buyer engagement system through CleverTap.

How millennial buyers are taking management of their wealth creation
Tech is making investing extra accessible for younger buyers in Southeast Asia however disinformation can threaten monetary wellbeing.

Navigating VC ghosting: Methods for resilient entrepreneurs
Let’s delve into the fact of VC ghosting and equip entrepreneurs with efficient methods to navigate via this difficult section.

Pioneering success: The trail for early-stage startups
Singapore’s rise as a high world startup and enterprise capital hub underscores its resilience within the face of regional funding challenges.

2024 cloud tendencies: AI-powered machine studying, distributed databases, and extra
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