In brief: Iflix to source original stories from Wattpad and turn them into movies

Iflix CEO Mark Britt / Photo credit: Iflix

Iflix teams up with Wattpad to find material for Indonesian movies (Malaysia/Canada). The on-demand video streaming portal has partnered with Canada-based Wattpad, an online community for sharing user-generated stories. As a result of the deal, Iflix will gain access to over six million stories uploaded from Indonesian contributors.

Using machine-learning tech, Wattpad will identify Indonesian stories to transform them into original films and web series under Iflix Originals, the platform’s new in-house studio brand. The two companies said they will co-produce “dozens of movies” over the next year. (Iflix)

Other news

Y Combinator-backed Observe.ai nets US$8 million (India). Nexus Venture Partners led the series A round, with participation from Emergent Ventures, Hack VC, Liquid 2 Ventures, MGV, and Y Combinator. The startup uses AI-driven voice analysis tech to provide call center workers with real-time feedback on customer sentiment. (Inc42)

Alpha7 reveals US$5.2 million total funding (Singapore). The cloud services company, which has offices in Singapore and Australia, didn’t disclose its investors. Alpha7 also said it has partnered with a Singaporean accelerator that’s a joint venture of “a top Asian bank” and a government-backed VC fund under the city-state’s National Research Foundation. (Business Insider)

Flower Chimp raises US$1.5 million (Malaysia). The online florist said it will use the money to add features such as live order-tracking and to strengthen its presence in Indonesia and the Philippines. The funds will also bankroll its expansion to new markets, with a Singapore launch slated for this month and Hong Kong, Thailand, and Vietnam on the list for next year. Asia Venture Group was among the investors to take part in the round. (e27)

Funding Societies hits S$200 million (US$145 million) disbursed loans milestone (Singapore). The crowdfunding platform for small and medium businesses – also known as Modalku – raised US$25 million in its series B round in April. (Funding Societies)

See: Previous Asia tech news