Daily Briefing: IMDA investigates M1 fibre broadband disruption; CXA raises funding round from Humanica, HSBC Life

And Flow Technologies raised $6m in series A round.

From ChannelNewsAsia:

Investigations have been launched after disruptions to M1’s fibre broadband services, according to the Infocomm Media Development Authority (IMDA).

The authority said in a post that it will take “strong enforcement action” if there are any lapses on the part of the telecommunications company.

The authority added it directed M1 to restore the affected services quickly and to keep its subscribers updated of the progress.

The disruption started early on 12 May, according to online service tracker Downdetector.

People reported experiencing a service outage in areas across Singapore, including Ang Mo Kio, Bishan, Bukit Panjang, Eunos, Jurong, Marine Parade, Punggol, Sengkang, Serangoon, Tampines, Toa Payoh, Queenstown and Yishun.

Read more here. 

From e27:

Human resource and healthcare platform CXA Group has raised a bridge round of funding from Thai HR solutions provider Humanica and HSBC Life, according to an announcement.

Humanica is said to have doubled its investment in CXA as a continuation of last year’s convertible note bridge financing. The company will use the funding to further develop its platform.

In addition, CXA also signed a Memorandum of Understanding (MOU) with Humanica to integrate its human capital management platform with CXA’s platform in Thailand.

CXA had previously raised US$58 million in total funding from Series A, Series B, and a convertible note round in 2015, 2017 and 2019, respectively. 

Read more here. 

From Deal Street Asia:

Flow Technologies has raised $8.5m (US$6m) in a series A round, led by development finance institution and KfW Group subsidiary DEG, Dymon Asia Ventures, SIG Asia, and Siam Commercial Bank’s venture arm, SCB10X, according to an announcement.

The funding is earmarked for growth, including geographical expansion, as well as developing AI models. These include predictive analysis of borrowers’ behaviour and speech recognition improvement.

Flow, formerly known as AsiaCollect, has worked with banks, fintech firms, and non-bank financial companies to collect unsecured debt portfolios.

The company has previously raised $6.38m (US$4.5m) from SIG Asia Investments in 2018.

Read more here.