Daily Briefing: Gaming company Razer commits $10m to boost esports; Foodtech company Hoow Foods closes $1.7m in seed round

And AI Singapore partners with Expedia to develop AI solution for travellers.

From Channel News Asia:

Gaming company Razer will be ploughing $10m over the next 12 months to grow Singapore's esports and gaming industry, its CEO Tan Min-Liang promised.

In a Facebook post, Tan said that he read about Trade and Industry Minister Chan Chun Sing's comments on the government’s efforts to support gaming and esports in Singapore in Parliament and said that he would like to "give back and do more for gaming in Singapore.”

He committed $10m in funding over the next 12 months for gaming and e-sports activities in Singapore. This includes supporting local teams and investing in such companies here or founded by Singaporeans.

The funding will also go toward supporting the Singapore team heading to this year's SEA Games, where e-sports will be a medalled sport for the first time, Tan said.

Read more here.

From e27:

Singapore-based food technology company Hoow Foods, a food technology startup that specialises in reformulation technology, announces that it has closed a $1.7m (US$1.2m) seed round led by the food and beverage heritage brand Killiney Group.

Other investors include Singapore’s first government-backed food incubator Innovate360, TRIVE Ventures, and other angel investors to accelerate its operations and R&D capabilities in the region.

Hoow Foods said that it plans to develop and focus on its Research and Development and human resources.

The company aims to transform indulgent foods into healthier versions whilst still retaining taste and texture. It was founded by four alumni of the National University of Singapore. It said that it will soon launch a healthier option of ice cream, coffee, snacks, and staple foods.

Read more here.

From TTG Asia:

Singapore-based research institute AI Singapore has collaborated with US global travel tech company Expedia to under its flagship 100 Experiments (100E) programme to develop an AI solution to transform the online search experience for Asian travellers.

The first online travel platform to collaborate with AISG for 100E, Expedia Group will provide a team of experienced engineers, data scientists and marketers to work with the AISG’s project lead, project managers and AI apprentices to enhance travel search query understanding and improve the accuracy of search query resolution in Asian languages.

The Expedia and AI Singapore project team will leverage natural language processing and machine learning to develop an AI-based model to enhance search query understanding and resolution in the Japanese language, before extending the model to other Asian languages to enhance online search efficiency.

When completed, the AI solution will enable Expedia Group to deepen its understanding of travel search query patterns and nuances in Asian languages, and equip the travel platform with the ability to serve the needs of Asian travellers better by improving the accuracy and efficiency of search query resolution.

Read more here.

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