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ReliefAgad – an app to facilitate the distribution of cash assistance to poor households. The app eliminates fraud in the disbursement as households can apply for aid directly, rather than going through village officials. From the agreement signing—where compliance standards were set—to the rollout of the software, the whole process took about four weeks, with … Read more
The Philippines, in contrast, is still in the early stages of such relationships. While tie-ups have been forged with the government in the past, startups have rarely participated in paid public projects. Appointment of startup founders to government cabinet posts is also unheard of. “Compared to Indonesia, the Philippines government is still some ways off … Read more
Aggregators, too, will not be the same. The very discounts that propelled the growth of food delivery companies Swiggy and Zomato will be the first casualty, said Beer Café’s Singh. This has already come true. Zomato and Swiggy have stopped footing discounts to customers. Like the shift to a revenue-sharing model, aggregators now have to … Read more
Restaurants will also have to actively practice social distancing. That means fewer tables in the same restaurant, which makes balancing revenue and costs tricky. The Delhi outlet of SodaBottleOpenerWala, a popular Parsi food chain, has a 48-seater licence. If social distancing cuts seating in half, there is no point in reopening, said Manu Chandra, chef-partner … Read more
The MCO has dealt a huge blow for specialty coffee shop VCR cafe in Malaysia. Its founder Andrew Lee said there was an average of 80% sales drop since 18 March. Things were worse for its headquarters in downtown Kuala Lumpur, as the majority of its footfall came from tourists drawn to the two-storey pre-war … Read more
On the first day of the MCO, StoreHub saw an 85% revenue drop across its F&B clients, with over 90% of businesses doing zero sales. StoreHub’s Beep Delivery now has over 500 restaurants across Malaysia on its platform. The reason that StoreHub is able to charge only 2% of the processing fee is simple. It … Read more
The number of Series C and D deals—typical growth-fund investments—rose by three deals year-on-year to hit 19 in the first half of 2019. However, the overall amount raised dropped by $100 million to $600 million. Total funding for Series B deals, meanwhile, increased by 40% over the same period. “For aspiring unicorns (startups worth $1 … Read more
While the market for medium-term stays in India isn’t as big as the long-term or short-term rental market, it is growing fast. Rakesh Kamble, founder of Rentmystay, a property management firm that offers all three types of rentals, says that the medium-term market is much more stable. A 10-20% demand is always there. “We have … Read more
Jijesh Ramachandran, founder of Iksha, the property management firm that manages Captains Quarters, says that with zero revenues, managing these properties has become a pain. Ramachandran, after all, pays for the maintenance of these luxury properties—which can be as high as Rs 50,000-Rs 60,000 ($650.07-$780.08) per month—in addition to a fixed monthly rent to the … Read more
However, in all fairness, valuation is a company’s prerogative and it’s up to potential investors to accept or reject the investment, says pitchIN’s Shafie, who recalls that sales conversion startup SalesCandy raised RM1.5 million (US$350,000) through his platform in October 2017 across 54 investors at a pre-money valuation of RM2 million (US$460,000). At that time, … Read more