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Tech In Asia
Muuve, a food delivery service provider in Cambodia, has secured a strategic investment from local venture capital firm Ooctane.
Meal Temple Group, a tech startup out of Cambodia, has launched a ride-hailing product for taxis and tuk-tuks (auto rickshaws) in Laos.
Cambodia’s Meal Temple Group said it is expanding its food and last-mile delivery business to the Kingdom of Bhutan by partnering with and investing in local startup DrukRide.
In Cambodia, the average loan size is now among the highest in the world, with around 2 million borrowers owing a record US$2.8 billion. It’s not a healthy situation, with experts warning of a bubble in the Southeast Asian nation of 16 million.
The startup scene in Cambodia has begun to flourish. Internet and mobile penetration are high and the country is becoming an increasingly attractive destination for startup entrepreneurs, remote workers, and digital nomads.
Meal Temple Group, one of the first tech startups out of Cambodia, just raised an undisclosed, six-digit amount in US dollars from private Australian and European investors. The startup operates food-delivery platform MealTemple and online supermarket GroceryDelivery.asia.