🩺📟 This Singaporean Startup Wants to Revolutionize Chronic Respiratory Disease

GM. This is micro digest, your SEA tech newsletter that gives you the same feeling as finding money in your old pair of jeans.

Here’s what we got for you:

• 🌊 The SEA - Aevice Health - The Singaporean startup that wants to address Chronic Respiratory Disease with its hardware

• ⛵ SEAppets - Indonesia is creating incentives to attract electric vehicle manufacturers to invest in the country and is in talks with Tesla and BYD

• 💰 SEA Deals

• 🖼️ AI Image of the day

• 🐣 Tweet of the day

Markets 📈

The SEA 🌊

It's not every day that we get the pleasure of showcasing startups that create some truly awesome hardware.

I’m talking about Aevice Health.

🤷‍♂️ Who is Aevice Health?

• Founded in 2018 by Adrian Ang, Dr. Rex Tan, and Dr. Ser Wee, Aevice Health is a Singaporean hardware tech company that creates products to help manage chronic respiratory diseases

• Around 48.5 million people in Southeast Asia suffer from chronic respiratory disease, with 11.2 million in Indonesia suffering from asthma and 4.8 million suffering from COPD

• The company wants to introduce a revolutionary solution to address this issue in the region

🩺 How it works?

• The company develops solutions like the:

  • AeviceMD, a wearable stethoscope where you can:

    • Monitor and manage your symptoms

    • Track your symptoms over time to visualize your response to treatment

    • Connect you with your doctor so he/she can assess your health anytime, anywhere

  • AireSone Junior, a smart wearable for kids where parents can monitor their child's breathing and heart rate while sleeping to give parents an overview of their health

💰 Funding

• The company has recently received undisclosed funding from East Ventures to expand access to its flagship product AeviceMD Monitoring System in Southeast Asia

• This system has recently been granted approval as a Class II medical device by the US FDA and Singapore HSA

• The aim is to provide an affordable and accessible solution for patients of all ages to manage their respiratory conditions from home

SEAppets ⛵

1. Indonesia is creating incentives to attract electric vehicle manufacturers to invest in the country and is in talks with Tesla and BYD. The incentives will be similar to those offered by regional competitors and the government is awaiting approval from the President. Luhut is meeting with BYD executives on Thursday and with Tesla's CEO Elon Musk on August 3rd. Indonesia has been trying to convince Tesla to make an Asian production hub in the country but Tesla has been considering India as well.

2. Isabel Ridad, the former acting CEO of PayMongo, has launched a new fintech venture called Monetiz3. This platform allows small and medium enterprises (SMEs) to monetize their contractual revenue streams and raise capital without giving up equity or taking on restrictive debt. Ridad left PayMongo in March 2021 to found Monetiz3, and previously held senior roles at Standard Chartered Bank, MUFG and Maybank.

3. In the first quarter of 2023, Chinese automakers sold 75% of all-electric vehicles in Southeast Asia, with Thailand accounting for the majority of these sales. Chinese automakers have committed to investing $1.44 billion into local production facilities. BYD's Atto 3 was the best-selling EV car in the region, followed by Neta V and Tesla's Model Y. Counterpoint Research predicts that 6% of total vehicle sales in Southeast Asia could be EVs by 2023.

4. Malaysia has granted a licence to Elon Musk's Starlink to provide satellite Internet services to rural areas, marking the 60th country in the world that Starlink is available. The plan includes an antenna, WiFi router and cables and offers download speeds up to 100Mbps. Additionally, Tesla has unveiled its Model Y electric vehicle in Kuala Lumpur and will be establishing a head office and service centre in Cyberjaya, Selangor.

5. Peeba, an online wholesale marketplace based in Hong Kong, is expanding into Southeast Asia with an office in Indonesia. They are empowering small retailers with access to thousands of brands and offering features such as a wide range of products, net-60 payment terms, and free and easy returns so that retailers do not incur hefty upfront payments.

SEA Deals 💰

1. Vietnam-based EWA startup GIMO has raised $17.1 million in a Series A funding round, with a mix of equity and debt financing. The funding was led by TNB Aura and included a number of existing and new investors, and will be used to create partnerships and launch social impact initiatives. GIMO currently serves 500,000 workers and aims to reach 2.5 million users by 2025. It is one of several startups in the region tapping into the EWA trend.

2. LINE MAN Wongnai, a Thai tech startup and unicorn has acquired the restaurant management platform FoodStory. This acquisition will expand FoodStory's systems, including point-of-sale (POS) and mobile merchant apps, to all restaurant segments in Thailand. The co-founders of FoodStory will join LINE MAN Wongnai as senior executives and more than 150 FoodStory employees will report to LINE MAN Wongnai's lifestyle unit. LINE MAN Wongnai is valued at over $1 billion and operates in all 77 provinces in Thailand.

3. Zuno Carbon, a Singapore-based climate tech startup, has secured $2.5 million in seed funding to ramp up its sales and marketing efforts, launch new features, and catalyze decarbonization. Their ESG management platform, Veridis, provides detailed tracking of greenhouse gas emissions and reporting. The platform has been deployed in oil and gas, logistics, and real estate industries, and has enabled companies to reduce emissions through data-driven decisions. The funding was led by Wavemaker Partners and also included SEEDS Capital and Blue InCube Ventures.

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AI Images of The Day 🖼️

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Tweet of The Day 🐣

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

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