Grab warns of possible increase in fares with new regulations in Malaysia [The Star]
With the possibility of fewer drivers on the road because of new regulations by the government, users may experience an increase in “dynamic” fares, says ride-hailing company Grab.
“As commuters ourselves, we understand the pain passengers feel when fares are higher,” the company said in a statement on their website.
They also said passenger should anticipate longer waiting time for a ride.
Their advice was for passengers to book their rides earlier, especially when catching a flight or going to an important meeting.
Passengers were also advised that getting a ride would be much easier outside the peak hours of 7am-9am and 5pm-8pm.
They said the new e-hailing regulations would only affect private car ride-hailing services, such as GrabCar, JustGrab, GrabCar Plus, GrabCar (Premium).
Rivigo raises US$65M from Warburg Pincus, SAIF Partners [press release]
The company plans to utilise the funding to further strengthen its technology and network coverage, a key game changer for the larger logistics market in India. Rivigo has a network coverage with more than 29,000 PIN codes in India
Started in 2014 by Deepak Garg and Gazal Kalra, rivigo is a technology-enabled surface logistics provider headquartered in Gurgaon. The startup claims to provide hassle-free services for companies in the e-commerce, pharmaceuticals, automotive, cold chain, FMCG and white goods sectors.
Rivigo claims it has improved its financial metrics across all businesses and aims to be profitable by the end of this financial year. Continuing the positive momentum, Rivigo recently launched National Freight Index (NFI) to bring transparency to the largely unorganised logistics sector.
India’s B2B commerce startup Moglix raises US$60M Series D [press release]
Moglix, a B2B commerce company in India, toady announced it has closed US$60 million in Series D round of funding, led by Tiger Global. The round also saw participation by Sequoia India and Composite Capital.
The funds will be deployed to create industrial distribution centers across India to cover all 25+ major hubs for manufacturing by May 2020.
TRB Ventures nears its crowdfunding target on ECF [press release]
Malaysian proptech company TRB Ventures has said its equity crowdfunding deal on pitchIN has seen significant uptakes since its launch, with RM2.5 million invested in eight days by 156 investors.
TRB Ventures will use the funds on marketing, team growth and working capital.
Since going live on pitchIN at the start of July, TRB Ventures ECF campaign has seen 156 investors investing RM2.5 million into the campaign, with the largest investor to date committing RM500,000. This leaves just RM500,000 available for investors.
TRB Ventures is a proptech company focused on the digitalisation of the real estate ecosystem to speed and simplify up end to end transactions. The company developed MHub, a suite of apps to achieve this goal. Since its launch two years ago, MHub has transacted close to RM8 billion worth of properties and currently has RM 50 billion worth of properties in platform.
Capital Match announce management change post its merger with SESAMi [press release]
Ong Teck Soon will continue to drive group leadership in his role as Executive Chairman. Konrad Tomaszewski will take a leadership role on the Capital Match Platform with the support of Enoch Tan who recently joined as Chief Investment Officer and head of CM Advisers.
Pawel Kuznicki is stepping down as the CEO of Capital Match. Kuznicki has developed Capital Match from its inception in 2014 to become a leading platform in Singapore and to the successful merger in 2018.
Capital Match joined hands with SESAMi in November 2018 to create an integrated supply chain financing (SCF) platform to offer B2B businesses financing in Singapore and Southeast Asia.