Light at the end of the tunnel? The Southern Hemisphere has formed a travel bubble. Let’s hope it doesn’t burst given the anaemic pace of vaccination Down Under.

Meanwhile, the Tech scene marches on.

Enjoy this month’s edition, from all of us at North Ridge Partners.

Original Thinking from North Ridge Partners

In 2020 we wrote: “New Zealand warrants a bold technology strategy.” How are things turning out for the local tech scene? Read our partner John Moore’s update here.

Stuff you need to know about Big Tech

Is Big Tech walking back on its WFH promise? The leaders at Amazon and Google seem to be changing tack.

Life after Bezos: As Jeff Bezos steps down, Amazon fans can expect a plethora of changes.

Microsoft equips the armed forces of the future: The tech giant wins a bumper US army contract worth $21.9 billion over 10 years.

Apple Watch: 'Autonomous is the future, and Apple wants a bite': Tim Cook’s stance confirms Big Tech’s influence on the automotive sector. Meanwhile, Snap looks at ways of circumventing Apple’s new privacy rule: Snap is the biggest US tech company so far to do so, and isn’t afraid of facing Apple’s wrath.

Markets

Coinbase is about to go public. The company expects first-quarter profit this year to be more than double of what it earned in all of 2020.

SPAC Attack: WeWork to go public at $9 billion or 20c on the dollar.

The journey from SPACs to Space. Fresh ramblings from HumbleDollar.

Deliveroo disappoints in dodgy debut. However, setbacks aren’t new to this founder, who is ready to bounce back.

Asia Tech News

The land grab is on! The Southeast Asia Decacorn’s SPAC deal values it at $35 billion, as the SEA investor community waits with bated breath for a successful transaction.

As ever, there’s a lot going on in China, with its Tech Wreck presenting a buying opportunity and no end in sight for Alibaba’s political troubles with a $2.8 billion levied by the Powers that Be in the PRC.

Facebook paves the way to Indonesia…underwater. Facebook to build submarine cables linking the US and Indonesia.

Home-grown kale and arugula from the Red Dot: Singapore is moving to the forefront of urban farming, growing impossible foods in impossible places.

What’s going on Down Under

Design thinking to the fore! Australia’s Canva is valued at $15 billion after its latest investment round.

Game developer Ninja Kiwi is snapped up for $203 million, begging the question - could video games be a billion-dollar industry in the Land of the Long White Cloud?

Banking-as-a-Service hits Australia: The big banks want to have their cake and eat it too.

Time to visit your friendly neighbours. Finally, some good news for the travel sector as an ANZ travel bubble launches. Meanwhile, Webjet raises another A$250 million, taking its pandemic tally to nearly A$750 million raised.

Fresh Quarter, Fresh Funds

Southeast Asian tech startups breezed through 2020, raising US$8.2 billion. It’s like COVID never happened - or is it because of COVID?

Ajaib, the Indonesian investment app raises a record $90 million Series A, led by Robinhood backer Ribbit Capital. Grab announces a $275 million fund to support regional communities. Sequoia’s second India seed fund closes at $195 million. B Capital Group enters China with its $415 million fund. KKR Asian Fund IV closes its latest APAC fund at $15 billion.

Singapore-based Flash Coffee raises a total of US$20 million. Watch out Kopi Kenangan, a new coffee kid is in town.

Made in India

In the first quarter of 2021, Indian startups raised $2.7 billion, with $1.5 billion in just the past week. Fintech led the pack as the most preferred startup sector.

Have a look at some of the larger funding rounds: FoodTech unicorn Swiggy in its final stages of closing an $800 million Series J, leading it up to around $5 billion in valuation. Byju’s raised over a billion dollars last year, and here comes another half a billion. Add to the list Indian social commerce Meesho valued at $2.1 billion in new $300 million fundraise.

At two years old, India's youngest startup to become a billionaire: CRED valued at $2.2 billion in a new $215 million fundraise.

With the latest round of funding, ShareChat's valuation has risen to US$2.1 billion, making it the latest Indian startup to enter into the unicorn club.

Stuff we found interesting

Is Jamie Dimon going to run for President? It’s meant to be an annual letter to shareholders, but it sure looks like a political manifesto to us.

Just what is a tech company, anyway? Serious, or silly semantics?

Who knew Britain was in the Space business? Billionaires battle it out for low Earth orbit and the future of communications.

The rise and rise of Naspers. Africa’s tech giant is starting to reap the fruits of its labour.

Those hyperactive European lawmakers are at it again: The EU’s Powers that Be just love to regulate Big Tech, making it the world’s most active tech regulator.

______

Build, fund, and exit your technology company with North Ridge Partners

North Ridge Partners works with technology companies across the Asia Pacific to achieve transformational outcomes through advice on strategic positioning, raising third party funding, M&A, and direct investment. We’re experienced deal-makers who have built, run, and sold numerous technology companies.

Contact us here.

Subscribe to our monthly newsletter here.