SaaS Daily – Nov 9

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At a Glance

Alpha JWC, the Indonesian venture capital firm closes $433 million third fund and Decodata, an Amsterdam-based B2B SaaS company secures €700K to accelerate innovation in the interior design market


Hi,
The results are out – Tesla stock price slides after Musk promises on Twitter to sell $21 billion stake. Which side were you leaning on?
Singapore is rolling back some tough virus restrictions. U.S. stocks are on a winning streak. Obama takes centerstage at COP26. This week looks like a winning streak.
– Joseph, Karishma, and Angel
☕ What’s brewing in the tech and SaaS world?
💸 Alpha JWC, the Indonesian venture capital firm closes $433 million third fund. The third fund’s investors include the World Bank’s International Finance Corporation (IFC). The majority of LPs from Alpha JWC’s first two funds have also contributed to it.
👩 Decodata, an Amsterdam-based B2B SaaS company secures €700K to accelerate innovation in the interior design market. This is its first round of funding from a group of angel investors.
😀 Advantage Club, the AI driven employee engagement and benefits platform has raised $3.3 million in funding from Jetty Ventures, Earlsfield Capital, SMC Advisors and other investors.
🎮 Mod.io, an Australia based game development firm, has raised US$26 million in its latest round of funding. Tencent leads $26m round along with Lego Ventures, OIF Ventures, Makers Fund, Play Ventures, Sequoia Capital India’s Surge, and GameTech Ventures
🛒 Tiki, the Vietnam based e-commerce major has confirmed its US$258 million in series E funding led by insurance major AIA. Other notable investors in this round include Taiwan Mobile, Mirae Asset-Naver Asia Growth Fund, STIC Investments, and Yuanta Fund.
🏦 SoftBank suffers $54 billion bruise from China’s tech crackdown. The Japanese investor loses big on Alibaba stake, has announced share buyback, and says risks are under control.
Digital Acceleration Trends of 2022 (Here’s what we are predicting)
✍ Hybrid is the new normal
Remote and hybrid work would continue well beyond the pandemic, and it’s now a reality. A recent McKinsey survey suggests 90% of teams and companies will adopt some combination of remote and on-site work. We’ve seen announcements of major companies in nearly every industry creating policies that help make flexi-work possible. But these policies aren’t without their own set of obstacles.
The world is going hybrid – some employees are working from the office, and others resort to working from home; organizations will need technologies that enable cohesion and collaboration regardless of the place of work.
We discovered in our recent study that only 13% of small businesses globally are equipped to handle full fledged video conferencing. Collaboration companies are taking note. September 2021 was a big month of news for Zoom, Poly, Cisco, Microsoft, Google, and Salesforce.
Gather, which is centered around fully customizable spaces, raised $50 million Series B led by Sequoia and Index to fulfill the long term vision for the Metaverse. We predict that the software and hardware tools will substantially improve meeting quality and enable a level of in-depth collaboration. Metaverse is set to be a game changer.
Smart cameras and communication systems equipped with AI and ML will make it easier to identify the speaker and elevate the experience to next-to-work from the office.
Hybrid work innovations are already in full throttle mode, improving VDI experiences and more apps that will make it easier to flourish in the work from anywhere economy. This shift is also leading to a change in the usage of several apps. Only time will tell whether this will be overwhelming or helpful!
What are we reading?
🇨🇳 China attempts to clean up its sleaziest regional banks – The Economist
🗄️ Robinhood Hack Exposes Millions of Customer Names, Email Addresses – Wall Street Journal
🤼‍♀️ What to Do About Employees Who Consciously Exclude Women – Harvard Business Review
🛃 With Tears, Hugs and Balloons, U.S. Allows Vaccinated Foreign Travelers to Enter – NY Times
🔮 ‘AR Is Where the Real Metaverse Is Going to Happen’ – Wired
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