🧬 Can This Startup be The 23andme of SEA?

GM, this is micro digest, the daily newsletter that keeps all you single folks out there company on Valentine's day 😏

Here's what we got for you:

• 🌊 The SEA - Asa Ren - The 23andme of Indonesia and maybe SEA?

• ⛵ SEAppets - Strike is expanding to the Philippines #Bitcoin

• 💰 SEA Deals  

• 🖼️ AI Image of the day

• 🐣 Tweet of the day

Markets 📈

Did you know that over 70% of deaths in Indonesia are caused by preventable diseases that can be detected through DNA testing? This includes diabetes, CAD, stroke, and cancer. Unfortunately, only 17% of healthcare spending in Indonesia is allocated to prevention.

That's what this startup is trying to solve. Today we're talking about Asa Ren.

🤷‍♂️ What is Asa Ren?

• Founded by CEO Aloysius Liang, Asa Ren is Indonesia's first DNA data company

• The company provides a direct-to-consumer DNA test that offers more than 360 reports, including predisposed health risks, ancestry, and other reports for adults, young parents and children.

• It's on a mission to accelerate drug discovery and personalised treatments for Southeast Asia’s healthcare industry by developing clinical-genomic databases from healthy and confirmed diagnostic populations.

🧬 How it works

• You order the collection kit from the website, swab your check cell, mail it back to the lab and wait 3-4 weeks to get the results

• They currently provide two types of products: ancestry and 360 DNA

💰 Funding

• Asa Ren has raised USD $8.15 million in an early-stage funding round co-led by Top Harvest Capital (US), Kejora Capital, and Marcy Venture Partners (US)to develop clinical bioinformatics, an e-health passport, and a clinical-genomic database.

• The capital injection will allow customers to understand and manage their healthcare data through their genetic profile, 360 phenotypes, and medical records

• The company has also signed service agreements with more than 47 prominent hospital and clinic partners and is expecting to grow its distribution footprint to more than 60 hospital and clinic partners by the end of 2023

The million-dollar question is can Asa Ren be the 23andme of Southeast Asia?

If they play their cards right, maybe.

Ok, honestly I hate calling startups in SEA the "XXX of Southeast Asia" but hey, that's exactly how it is - what's working in the States will probably work here. 

SEAppets ⛵

1. Strike, a global digital payments platform built on Bitcoin's Lightning Network announced that it has expanded its Send Globally product to the Philippines, allowing money transfers between the US and the Philippines.

2. Xiaomi was a leader in the Indian smartphone market, but after 9 years, its position has eroded. This is due to declining shipments, rising economic tensions between China and India, and the departure of key executives. Market analysis shows that the decline is mostly due to low demand for entry-level smartphones and broad macroeconomic challenges, and Hugo Barra's departure in 2017 has been a key factor.

3. Tin Pei Ling, a Singaporean MP, was appointed director of public affairs and policy for Grab, but due to public scrutiny, her role has been changed to director of corporate development. She will not engage with government ministries on Grab's behalf and the People's Action Party of Singapore initially approved of her role.

Ok seems like Singaporean MPs are doing their jobs right (unlike our MPs 🙄), so much love and support from the people. Just look at her FB post.

SEA Deals 💰

1. Moonfare, a digital private equity investment platform based in Berlin, which has its APAC offices in Hong Kong and Singapore, has raised over USD $130 million in its Series C funding, including from 7 Global Capital, a venture capital firm that invested in India's Jio Platforms. Their platform allows individual investors to invest in private equity funds starting at USD $60,000. With a growing number of investors and funds on their platform, Moonfare is expecting the Asian market to grow rapidly. The Future is Private report reveals that the region's share of global private wealth investments is anticipated to increase from 27% to 37% by 2025.

2. Nam A Bank, a mid-tier Vietnamese lender, has secured USD $20 million in debt funding from Swiss impact investment manager BlueOrchard Finance. The investment will be used to expand its small and medium enterprises loan portfolio. BlueOrchard has invested over USD $10 billion in more than 700 institutions across 105 different emerging and frontier countries, including Vietnam-based SeABank, insurtech company Igloo, and India's fintech lender Aye Finance.

3. The Asian Development Bank has given CARD Inc., a non-government microfinance organisation, a USD $4 million loan to help them expand lending to low-income borrowers, particularly women in the Philippines.

AI images of the day 🖼️

If Coca-Cola was invented in other countries

Tweet of the day 🐣

Boy, I'm sitting in the wrong coffee shop.

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

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