Daily Briefing: Securing grocery deliveries get difficult amidst COVID-19; Fintech startup MatchMove buys stake in e-commerce solutions provider
And agrifood tech firm DiMuto raises undisclosed funds from venture capital studio Latin Leap.
From Channel News Asia:
As consumers turn to online shopping following the COVID-19 outbreak, many are finding difficulty in securing the delivery of groceries and other daily essentials through online platforms.
When Singapore raised its Disease Outbreak Response System Condition (DORSCON) level to orange in early February, it took about one-and-a-half weeks before some consumers were able to secure delivery slots.
Some expressed frustration at the situation, as the government advised against "non-essential" trips to malls, and to opt to buy food and groceries online as part of safe distancing measures.
Online platforms have said they are trying to increase their capabilities to meet increasing demand during this time.
Singapore-headquartered fintech firm MatchMove acquired a strategic stake in e-commerce solutions provider Shopmatic, according to an announcement.
With the investment, MatchMove will be able to extend its “banking-as-a-service” wallet capability to Shopmatic’s ecosystem spanning over 435,000 e-commerce SMEs and individual entrepreneurs across the region.
Financial details of the acquisition were not disclosed.
Shopmatic currently has presence in India, Hong Kong, China, Malaysia, Philippines, and UAE. The company is planning to expand to the rest of SEA this year.
Singapore-based agrifood trade tech solutions platform DiMuto raised an undisclosed sum from venture capital studio Latin Leap, according to an announcement. This funding is said to help drive the company’s expansion to Latin America.
The new funding from Latin Leap will enable DiMuto to capitalise on its global growth momentum and help drive expansion in new markets over the next few months.
Using blockchain, IoT, and AI, it digitalises the agrifood supply chain aiming to solve industry challenges. Currently, DiMuto has presence in seven countries, including US, China, Indonesia, Australia, and Mexico.
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