500 Global Raises US$143 Mln For Early-stage, Growth Vehicles In Southeast Asia

KUALA LUMPUR, Sept 6 (Bernama) -- Venture capital firm 500 Global announced the successful close of US$143 million across its largest Southeast Asian early-stage fund to date, 500 Southeast Asia III L.P. (500 SEA III), and its growth investment vehicle for Southeast Asia. (US$1=RM4.67)

According to a statement, the new early-stage and growth vehicles demonstrate the team’s commitment to supporting founders in Southeast Asia from pre-seed to pre-initial public offering (IPO). 

Limited partners (LPs) across its early-stage and growth investment vehicles include a sovereign wealth fund, public and private pension funds such as Khazanah Nasional Berhad, Kumpulan Wang Persaraan (Diperbadankan) [KWAP], and Employees Provident Fund (EPF).

A university endowment, family offices of prominent global investors, and portfolio companies valued at over US$1 billion from 500 Global’s first Southeast Asia early-stage fund have invested as LPs as well.

“We continue to believe in the strong potential and opportunities in Southeast Asia. With a global portfolio of over 2,800 companies across more than 80 countries, we believe that the founders in Southeast Asia will benefit from one of the few truly global venture platforms with deep local roots and in-market expertise.

“We are confident that with access to insights, connections and capital, this can help the next generation of Southeast Asian founders build global tech giants,” said 500 Global Chief Executive Officer & Founding Partner, Christine Tsai.

500 SEA III is 500 Global’s third Southeast Asia-focused early-stage fund, with each successive fund having nearly doubled in size since 2014. Originally targeted for US$75 million, 500 SEA III closed at US$100 million with over half of the fund coming from returning LPs.

The early-stage fund will focus on investing in businesses and artificial intelligence (AI)-enabled technologies that advance rural digitalisation, sustainable cities, human and machine productivity, healthcare, food security and financial inclusivity.

500 SEA III aims to invest in 100 pre-seed to Series A startups, providing first checks between US$250,000 to US$500,000 across Malaysia, the Philippines, Vietnam, Thailand, Singapore and Indonesia.

Over the past decade, 500 Global backed over 340 companies across Southeast Asia and has a rich history of supporting early-stage founders in Southeast Asia, bolstered by its deep in-market expertise that forms the foundation of the firm’s multi-stage platform.

-- BERNAMA

XEV Presents Latest Mini Electric Car At IAA Mobility

 

KUALA LUMPUR, Sept 6 (Bernama) -- Global new energy vehicle technology company, XEV, has recently unveiled its upgraded urban mobility product YOYO at IAA Mobility.

According to XEV in a statement, the new YOYO model will be simultaneously launched in countries such as Italy, Germany, France and Spain, with deliveries scheduled to begin in the fourth quarter this year, with starting price set at 16,990 euro (excluding subsidies). (1 euro = RM5.00)

Currently, XEV has established over 120 sales outlets in Italy, Germany, France and Spain, with expectation that the total number of outlets in Europe will exceed 300 by year-end.

As a fashionable mini electric car designed to meet the demands of urban travel, YOYO combines technology, aesthetics and practicality, in which its futuristic design includes features such as anti-pinch frameless windows, three-dimensional LED light clusters and panoramic glass roof.

With a full electrical power range of 150 kilometres (km) and a top speed of 80 km/h, YOYO offers precise and agile handling, making it a perfect choice to explore in the city.

In addition, with XEV’s unique lightweight battery swapping system, YOYO can complete a battery swap in just three minutes, ensuring users to continue their journey without interruption.

XEV has partnered with European energy giant, ENI to deploy and operate battery swapping networks across Europe, allowing users to charge at the ENI gas stations.

With the launch of YOYO in Italy, Germany, France, Spain and other countries, XEV's battery swapping network will also be expanding concurrently, providing users with a more convenient urban travel experience.

At this year’s IAA Mobility, XEV officially introduced the Xpression personalised service, offering 42 different YOYO blade designs for customisation.

The company has also partnered with the New York based online art platform, UAAD to continually provide innovative and engaging design options for users, making urban travel more creative and enjoyable.

-- BERNAMA

BERKSHIRE HATHAWAY SPECIALTY INSURANCE PROMOTES EDWIN SIM TO LEAD EXECUTIVE & PROFESSIONAL LINES IN SINGAPORE

BOSTON & SINGAPORE, Sept 5 (Bernama-BUSINESS WIRE) -- Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has named Edwin Sim as Vice President and Head of Executive & Professional Lines in Singapore. 

“Our Executive & Professional Lines capabilities continue to expand in Singapore and throughout Asia. Edwin has been integral to this expansion, while also delivering BHSI holistically, with multi-line solutions and multinational programs, to our customers and brokers throughout the region,” said Scotland Walsh-Riddle, Regional Head of Executive & Professional Lines, Asia, BHSI. “I look forward to working with Edwin and our stellar Singapore team to bring our expansive, simply worded policies and customized Executive & Professional Lines capacity to the marketplace.” 

http://mrem.bernama.com/viewsm.php?idm=46903

CERTIK WRAPS UP AUDIT, FORMS PARTNERSHIP WITH FINSCHIA FOUNDATION

KUALA LUMPUR, Sept 5 (Bernama) -- CertiK, the industry leader in blockchain cybersecurity, has completed a rigorous audit of the Finschia Foundation's third-generation public blockchain and Ostracon consensus mechanism.

CertiK is also joining the network as a governance member and validator node operator, in which this multi-faceted collaboration ensures the realisation of shared core principles including security, transparency and performance.

“CertiK’s collaboration with the Finschia Foundation demonstrates our commitment to delivering world-class security solutions and actively participating in the governance and validation of blockchain networks.

“We are thrilled to continue our work together and build toward the Web3 vision,” said CertiK Chief Business Officer, Jason Jiang in a statement.

The audits focused on testing smart contracts against potential attack vectors, ensuring the logic met client specifications, and cross-referencing the contract structure with similar leading smart contracts in the industry.

Through a meticulous Web3 security analysis by expert auditors, CertiK evaluated the consistency, performance and scalability of the technology.

CertiK's participation as a governance member further strengthens the Finschia Foundation's mission to democratise blockchain governance and ensure transparent decision-making.

Meanwhile as a node validator, CertiK will play a crucial role in maintaining the network's integrity and performance, building on the company's unwavering commitment to delivering state-of-the-art security solutions to the blockchain industry.

This partnership between CertiK and the Finschia Foundation signifies a unified mission to establish trust and security in the blockchain industry, reinforcing the belief that collaborations of this nature propel blockchain forward.

-- BERNAMA

BTS V SEOUL EDITION 23 TOURISM PROMOTIONAL CAMPAIGN VIDEO RELEASED GLOBALLY

Seoul Tourism Organization has released Seoul Edition 23: New Tradition, a Seoul tourism promotional campaign video featuring BTS member V on VisitSeoul TV, the official YouTube channel for Seoul tourism. (Graphic: Business Wire)

KUALA LUMPUR, Sept 5 (Bernama) -- The Seoul Metropolitan Government and Seoul Tourism Organization announced the worldwide release of Seoul Edition 23: New Tradition, a Seoul tourism promotional campaign video featuring V of BTS, on Sept 1.

According to Seoul Tourism Organization in a statement, the teaser video boasted a significant response, raking in 400,000 views in just one week.

The 2023 promotional video featuring V, BTS member and Honorary Tourism Ambassador of Seoul, was released on VisitSeoul TV, the official YouTube channel for Seoul tourism operated by the Seoul Tourism Organization.

The first feature video, New Tradition, introduces Seoul and its capacity to encompass elements of the past in the modern day which starts with the Seoul Edition 23 title, juxtaposing V against the Seoul backdrop.

Meanwhile, the second feature video, Nature in the City, slated to be unveiled on Sept 8, puts the lifestyle of Seoulites on display embracing nature in the bustling downtown area.

The Seoul Edition Hashtag Event will also be held for one month in September on Visit Seoul social media channels, with the opportunity to win a roundtrip air ticket to and from Seoul, as well as two nights voucher at a five-star hotel.

The promotional campaign holds great significance as it showcases the Seoul Metropolitan Government's new brand slogan, Seoul, My Soul, across the world.

Labelled with the new brand slogan, campaign content will be released to people worldwide using influential outdoor media channels in six major cities, including Times Square of New York City, Tokyo, Shanghai, Bangkok and Taipei.

The campaign will also be featured across the globe in the United States, Europe, and other regions of Asia through major television networks, such as CNN and NBC, as well as the press media, New York Times.

Going beyond just promoting Seoul as a tourist destination, the Seoul Tourism Organization will send a strong message to attract tourists by describing a fast-changing Seoul as a "limited-edition item".

-- BERNAMA

LED EXPO THAILAND TO BRING ENERGY EFFICIENCY, DIGITALISATION FOR SMART LIGHTING

KUALA LUMPUR, Sept 4 (Bernama) -- LED Expo Thailand, ASEAN’s biggest exhibition showcasing LED & Smart Lighting Solutions, is set to return at IMPACT Exhibition and Convention Centre, Bangkok from Sept 20-22.

“This year we aim to showcase how LED technology is evolving to meet the challenges of the modern world, with a strong emphasis on sustainability, energy efficiency and smart applications,” said MEX Exhibitions Director, Himani Gulati.

According to a statement, organised by MEX Exhibitions Pvt Ltd and IMPACT Exhibition Management, this event promises an immersive experience where attendees can explore the latest advancements in LED & Smart Lighting technology, connect with industry leaders and gain valuable insights into the future of lighting.

It showcases a comprehensive show floor, with EGAT Pavillion to promote LED lighting as a key solution to cope with the ever-growing power demands, showcasing the latest innovations in smart lighting applications and technology presented by over 400 exhibitors in a variety lighting areas.

Global buyers can explore a diverse array of top LED brands including those that will be participating in the exhibition such as Exelux (Malaysia), Ledil Oy (Finland), Toyo LED Electronics Limited (Hong Kong), and Raylight Technology Co Ltd (Thailand).

Show highlights include Innovative LED Lighting Project Pitching Contest where buyers can witness a showcase of sustainable lighting projects by students/groups from Thailand's leading universities; and Thailand Smart Lighting Industry Seminar, an update from the government and private sector on major projects, market opportunities, and smart city roadmap in Thailand.

The event also provides a unique platform for facilitating business deals and partnerships among exhibitors and attendees with the Hosted Buyer Programme, providing focused on one-on-one business meetings.

-- BERNAMA

AS TEAMLAB PLANETS IN TOKYO WELCOMES AROUND 1 MILLION VISITORS FROM ABROAD IN A 6-MONTH PERIOD, THE IMMERSIVE MUSEUM UNVEILS THE RENEWAL OF ARTWORK SPACES

 

^{As visitors touch the countless crystals of light floating in the air, the work transforms interactively. On view at teamLab Planets, a body immersive museum in Toyosu, Tokyo. (teamLab, Ephemeral Solidified Light / Photo: teamLab)} 

With reports that approximately 1 in 10 international visitors to Japan are visiting teamLab Planets, the museum will now be open through 2027 

TOKYO, Sept 1 (Bernama-BUSINESS WIRE) -- teamLab Planets TOKYO DMM ("teamLab Planets"), the body-immersive museum by art collective teamLab in Toyosu, Tokyo, celebrated its fifth anniversary with the renewal of artwork spaces, making it an even more immersive experience.
 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230830716639/en/ 

In the six months from March to August 2023, the museum has received approximately one million visitors from 182 countries and regions outside of Japan. This makes up 70% of the museum’s total number of visitors (*1). It has also been reported that approximately 1 in 10 visitors to Japan from overseas are visiting teamLab Planets (*2).
 

NEWLY UNVEILED INSTALLATION: EPHEMERAL SOLIDIFIED LIGHT


Inside an immersive artwork that visitors experience by entering the water, countless masses of light float in the air, each one composed of multiple colors. The boundaries of each color are clearly separated as though they are solid. The seemingly solid color separation of the masses of light is not seen in the natural world, and is caused by extreme synchronization. Through self-organization over time, this synchronization phenomenon creates a large ordered structure.

RENEWAL OF ARTWORK SPACES

In The Infinite Crystal Universe, an artwork that creates a three-dimensional sculpture from a collection of light points, visitors can participate in the work using the teamLab app and create the artwork together with other people in the space. By throwing in a star of your choice from the app, a light sculpture is created in front of you, and the space of this work is created by a group of these light sculptures. With the renewal, five new light sculptures have been added to the installation.

An installation filled with spheres of light that change to ambiguous colors through people’s interactions, Expanding Three-dimensional Existence in Transforming Space, and several other artwork spaces have also been renewed, furthering the experience of physically immersing the entire body.

In addition, teamLab Planets, which was originally scheduled to close at the end of 2023, has been extended to the end of 2027 due to the popularity of the museum.

CONCEPT BEHIND TEAMLAB PLANETS

Together with Others, Immerse your Entire Body, Perceive with your Body, and Become One with the World

teamLab Planets is a museum where you walk through water, and a garden where you become one with the flowers. It comprises 4 large-scale artwork spaces and 2 gardens created by art collective teamLab.

People go barefoot and immerse their entire bodies in the vast artworks together with others. The artworks change under the presence of people, blurring the perception of boundaries between the self and the works. Other people also create change in the artworks, blurring the boundaries between themselves and the works, and creating a continuity between the self, the art, and others. 

http://mrem.bernama.com/viewsm.php?idm=46887