📺☪️ Can This Malaysian Startup be The Islamic Version of Disney?

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Here’s what we got for you:

• 🌊 The SEA - Durioo+ - The Islamic video-streaming platform for children

• ⛵ SEAppets - Ninja Van is offering PR as a service to its shippers, free of charge

• 💰 SEA Deals

• 🖼️ AI Image of the day

• 🐣 Tweet of the day

Markets 📈

The SEA 🌊

This Malaysian startup wants to be the Disney and Netflix for Muslim children.

I’m talking about Durioo+.

🤷‍♂️ Who is Durioo+

• Founded in 2022 by Sinan Ismail, Durioo+ is an Islamic video-streaming platform for children that aims to provide an edutainment alternative to Muslim children around the world

• Before creating Durioo+, Sinan was the co-founder of Digital Durians, the animation studio behind Didi & friends and Omar & Hana

• But unlike Digital durians which produced animations to be placed on YouTube or sold to broadcasters, Durioo is a tech startup producing animated Islamic content

📺 How it works?

• They have their own subscription-based streaming service, just like Netflix, accessible through phones, tablets, Smart TVs and so on

• Currently, the platform has over 22,000 subscribers paying USD $7.99/month or USD $79.99/year

• Durioo+ has produced 20 original programs and licensed over 1,500 episodes from series such as Baby Shark and Upin & Ipin

• The startup will also be publishing its own educational mobile games that teach Islamic values

💰 Funding

• The startup recently closed a seed funding round of USD $2.85 million from investors such as Y Combinator, Uncommon Capital, Gobi Partners, Lynett Capital, New Venture Order (NVO), Innate Capital and angel investors from Google, Meta, and IQIYI

• The startup plans to amass a global viewership base and has signed 27 strategic partnerships, including Unifi TV and MDEC

• Durioo+ aims to reach 100,000 subscribers by 2023 and 1 million subscribers by 2026

Durioo+ is also one of five Malaysian companies to be accepted into YC. Past Malaysian YC alumni include Dahmakan (now Pop Meals), Dropee, BrioHR and Pandai.

SEAppets ⛵

1. Jaya Grocer, a Malaysian premium supermarket chain has launched its first membership program. Leveraging the Grab platform, the supermarket chain allows customers to earn and redeem GrabRewards points at all Jaya Grocer outlets and provide a more rewarding shopping experience. Grab is a Southeast Asia-based super app with a range of services, including deliveries, mobility and digital financial services.

2. Gobi Partners, an interconnected Pan-Asian venture capital firm has invested in Paywatch, an earned wage access service provider, through its Superseed II Fund. The investment is backed by MAVCAP, Allianz Malaysia Berhad and Sunway Group. Paywatch helps employees gain access to low-cost solutions from partner banks and has raised USD $9.5 million in an oversubscribed pre-Series A funding round. The firm aims to provide fair financial access to all employees and operates in South Korea, Malaysia, and Hong Kong.

3. VinFast has delivered 45 VF 8 City Edition electric vehicles to customers in California. The shipment was delayed due to software updates and Vingroup, VinFast's parent company has cut its US headcount and is not planning to put more money into the company. VinFast has 10 stores in the US and recently received a USD $1.2 billion incentive package from North Carolina to build a manufacturing facility.

4. Ninja Van, a Singapore-based express delivery firm is offering PRaaS (public relations-as-a-service) to its shippers, free of charge. The service includes media release development, influencer management and event support and is available to those with a silver status or higher. A survey conducted by Ninja Van found 44% of their shippers in Southeast Asia expressed interest in exploring the impact of public relations. Ninja Van has also launched several other services across the region.

SEA Deals 💰

1. F88, a Vietnamese financial services company raised USD $50 million in a Series C funding round led by VOI and MEF IV. F88 plans to use the new capital to invest in tech, data analytics, brand building and human resources. VOI is backed by the Oman Investment Authority and State Capital Investment Corporation of Vietnam. F88 raised a USD $60 million loan from Lending Ark Asia Secured Private Debt Funds and Lendable in November and is aiming for an IPO next year with a market cap of $1 billion. It was founded in 2013 as a pawnshop chain and now provides financial services to the unbanked and under-banked population and micro businesses in Vietnam.

2. Orbit Startups, a programme from the US venture capital firm SOSV, has invested in Indonesian proptech startup Flokq, second-hand marketplace Jagofon, Pakistani agritech firm EasyFresh, Nigeria-based fintech firm InfiniteUp, Bangladesh edutech platform Ostad and Colombian neobank Ubanku, providing each with around USD $150,000 in initial funding and an intensive programme for growth and fundraising. SOSV has USD $1.5 billion of assets under management and invests in startups from emerging and frontier markets around the world.

3. Frasers Property Vietnam has partnered with Gelex Group to develop industrial spaces across North Vietnam, investing a total of USD $250 million. This includes the development of over 500,000 square meters of ready-built factories, warehouses and build-to-suit facilities. The partnership builds upon FPV's first industrial park in the south, BDIP and will bring higher-value investments to the northern region.

AI Image of The Day 🖼️

Sega Genesis classic “Bob Ross: The Art of Adventure”

Tweet of The Day 🐣

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That’s a wrap for today. See you all tomorrow! 👋

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