Huawei to invest US$100 million in Asia Pacific startup ecosystem over 3 years

Huawei announced its plan to invest US$100 million in startup support at the inaugural HUAWEI CLOUD Spark Founders Summit, which took place simultaneously in Singapore and Hong Kong. Huawei said the investment would go towards its Spark Program in Asia Pacific region including the Philippines, which aims to build a sustainable startup ecosystem over the next three years. 

Huawei has been helping Singapore, Hong Kong, Malaysia, and Thailand build their startup hubs. At the summit, Huawei also announced the Philippines, Indonesia, Sri Lanka, and Vietnam, as four additional startup hubs – in with the overarching aim of recruiting a total of 1,000 startups into the Spark accelerator program and shaping 100 of them into scaleups.

Mediatech startup Kumu raises US$5m Series A funding round from Openspace Ventures & PH Conglomerates

Investors include Kickstart Ventures, ABS-CBN, Gobi-Core Philippine Fund, Summit Media, and Foxmont Capital Partners.

Kumu Holdings Pte. Ltd., the firm that owns the technology behind Philippine live streaming app Kumu, has announced that it has raised approximately US$5m in a Series A funding round to roll out new features and scale up its operations.