Malaysia’s first sharia-compliant neobank, Grab’s AI ambitions, and Japan’s $663M Web3 fund
From Malaysia’s sharia-compliant neobank to Grab’s AI-driven sustainability and Japan’s massive Web3 fund.
This week, the tech world across Asia is buzzing with innovation and major funding announcements. From Malaysia’s pioneering neobank to Japan’s commitment to Web3 and AI, here’s how the region is shaping its digital future.
🌐 Malaysia leads sharia-compliant neobank expansion
Malaysia’s first sharia-compliant neobank, MyMy, is scaling rapidly to address the financial needs of its Muslim-majority population. This innovative bank offers financial products aligned with Islamic principles, such as interest-free lending and profit-sharing models, targeting an underserved market in both Malaysia and the broader Southeast Asian region. The initiative also aligns with the Malaysian government’s vision of strengthening its Islamic finance sector, already a global leader in the industry.
Why it matters: With the global Islamic finance market poised to grow significantly, Malaysia’s innovative fintech solutions could position the nation as a leader in sharia-compliant financial services.
🚖 Grab expands AI use for transportation optimisation
Superapp Grab is harnessing artificial intelligence to enhance ride-matching and reduce fuel consumption, optimising operations across its key Southeast Asian markets. AI-powered algorithms are improving wait times and driver efficiency, while contributing to Grab’s sustainability goals by lowering carbon emissions. These advancements exemplify how AI can create operational efficiencies while enhancing customer experiences in the gig economy.
Why it matters: Grab’s focus on AI demonstrates how technology can address operational challenges while supporting environmental goals.
🔗 SerMorpheus raises $2.5M to expand Web3 in Indonesia
Indonesia-based SerMorpheus secured $2.5 million in funding to onboard brands into NFTs and provide seamless online-to-offline experiences for customers. The platform is helping companies digitise loyalty programs, creating unique customer engagement through blockchain-based assets. As one of Indonesia’s first Web3 enablers, SerMorpheus is positioning itself to accelerate adoption of blockchain technology in Indonesia’s fast-growing digital economy.
Why it matters: With NFTs and blockchain increasingly entering mainstream markets, SerMorpheus is pioneering Web3 adoption in one of Southeast Asia’s largest economies.
💡Antler backs 37 Southeast Asian startups with $5.1M
Global venture capital firm Antler has invested $5.1 million in pre-seed funding across 37 Southeast Asian startups, spanning industries such as AI, fintech, and SaaS. This funding highlights Antler’s commitment to building and nurturing early-stage innovation in the region. Notable startups in this cohort are leveraging AI to optimise supply chains, improve customer service, and build financial inclusion tools tailored to Southeast Asian markets.Why it matters: Early-stage support from firms like Antler is crucial for driving innovation in SEA’s startup ecosystem, which has been expanding rapidly across diverse industries.
💼 SBI Holdings launches $663M fund for Web3, AI, and metaverse startups
Japan’s SBI Holdings has unveiled a $663M fund to back up to 200 startups in AI, Web3, and metaverse sectors. This move aligns with Japan’s national goals to boost its tech ecosystem and position itself as a global innovation hub.
Why it matters: This fund highlights Japan’s commitment to next-generation technologies, with significant implications for startups in Asia and beyond.
🎯 SeedIn scales MSME loans in the Philippines: The Philippines-based platform is growing its reach, offering short-term loans to MSMEs funded by retail investors.
🤖 Advance Intelligence Group secures $80M: Singapore-based Advance Intelligence Group is expanding its AI-driven platforms like Atome and Kredit Pintar to promote financial inclusion in Asia.
💳 Trusting Social raises $65M for AI fintech: Vietnam’s Trusting Social is scaling its AI-powered credit scoring to offer personalised financial services across Southeast Asia.
🎥 Stacked raises $12.9M for Web3 video platform: Singapore-based Stacked empowers creators with decentralised ownership and more equitable earnings through its Web3 streaming service.
🏙️ GBA Capital commits $10B to Web3 startups: GBA Capital’s fund focuses on fostering growth in virtual reality, NFTs, and the metaverse within the Greater Bay Area.
🧑💻 Outdefine builds decentralised talent platform: Outdefine leverages Solana blockchain to create a crypto-backed hiring community for Web3 professionals.
💡 Heymax.ai secures $2.6M for personal finance: Heymax.ai, led by ex-Meta engineers, is expanding its AI-driven platform to optimise rewards and savings for users.