Category

Private Markets

Aug 03
0

Daily Brief Private Markets: Halodoc Raises $100m Series D in Astra-Led Round and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Halodoc Raises $100m Series D in Astra-Led Round
  • Ex-Gojek VP’s Modern Financial Analytics Platform Bunker Secures US$5M
  • Immuno Cure Bags US$12M Series A Funding, Gears up for Hong Kong IPO
  • Vietnam Edtech Firm Vuihoc Bags $6m in TNB Aura-Led Round

Halodoc Raises $100m Series D in Astra-Led Round

By Tech in Asia

  • Halodoc, the Indonesia-based healthtech firm, raked in US$100 million in series D funding in a round led by returning investor Astra Digital International, according to a statement.
  • This boosts Astra’s total investments in the company to US$135 million. In 2021, the local conglomerate also led the US$80 million series C round of Halodoc.
  • With the new capital, Halodoc has raised at least US$258 million, according to Tech in Asia data.

Ex-Gojek VP’s Modern Financial Analytics Platform Bunker Secures US$5M

By e27

  • Singapore-based startup Bunker, which provides a modern financial analytics platform for SMEs, has secured over US$5 million over two funding rounds.
  • The investors include January Capital, Alpha JWC, GFC, Northstar Group, Money Forward, Alpine Ventures, and Patamar Capital.
  • Angel investors, namely Chris Lin, Rosemary DeAaragon, Tiger Fang, Gaurav Gupta, Christian Sutardi, Warren Tseng, Jonathan Wong, Nakul Malhotra, and Shaun Hon, also participated.

Immuno Cure Bags US$12M Series A Funding, Gears up for Hong Kong IPO

By e27

  • Hong Kong-based Immuno Cure BioTech has closed the US$12 million tranche of its US$27 million Series A fundraising round, led by Gobi Partners-managed AEF Greater Bay Area Fund.
  • The biotech company will use the capital to accelerate the development of DNA vaccines and antibodies besides preparing for an IPO in Hong Kong.
  • Immuno Cure focuses on R&D of immunotherapies for cancers, inflammatory and infectious diseases based on its patented “PD-1-enhanced DNA Vaccine Platform” and “Anti-Δ42PD1 Antibody Platform” with two DNA vaccine candidates, ICVAX and ICCOV, currently in clinical trials.

Vietnam Edtech Firm Vuihoc Bags $6m in TNB Aura-Led Round

By Tech in Asia

  • Vietnam’s e-learning market is expected to hit US$3 billion in value by the end of the year. Increased internet accessibility, coupled with ICT advancements and the rise in smartphone users, is driving the growth of online learning in the country.
  • In a bid to capitalize on this demand, local edtech firm Vuihoc has raised US$6 million in its series A funding round led by TNB Aura.
  • The fresh funds will be used to improve the company’s product offerings and invest in AI to offer personalized learning experiences for students.

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Aug 02
0

Daily Brief Private Markets: Surge Leads $3.3m Seed Round of SG Cloud Security Firm and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Surge Leads $3.3m Seed Round of SG Cloud Security Firm

Surge Leads $3.3m Seed Round of SG Cloud Security Firm

By Tech in Asia

  • PingSafe, a Singapore-based cybersecurity firm, has raised US$3.3 million in a seed funding round led by Surge, the scale-up program of Peak XV Partners (formerly Sequoia Capital India & SEA). The round also saw participation from Tanglin Ventures and several angel investors.
  • The company will use the fresh funds to expand its business across Southeast Asia and North America.
  • Founded in 2022 by CEO Anand Prakash and CTO Nishant Mittal, PingSafe provides a cloud security platform that protects companies’ data and apps from cyber attacks.

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Jul 21
0

Daily Brief Private Markets: Stag Raises US$600K to Provide Young Investors a Trusted Financial Education Platform and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Stag Raises US$600K to Provide Young Investors a Trusted Financial Education Platform

Stag Raises US$600K to Provide Young Investors a Trusted Financial Education Platform

By e27

  • Vietnam-based financial education startup Stag announced that it had been selected to participate in the inaugural Entrepreneur-in-Residence (EIR) programme managed by Viet Capital Ventures (VCV) which also includes an investment in the startup.
  • Alongside VCV, NH Securities Vietnam Co. Ltd. (NHSV) and Singapore-based Resolution Ventures also invest in a seed funding round for the company.
  • This year, with the funding, Stag plans to continue enhancing financial education features while also launching new value-added products for retail and corporate users. It also plans to enhance KYC and security features and complete technology integrations with key strategic partners.

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Jul 20
0

Daily Brief Private Markets: NEU Battery Materials Scores US$3.7M for Sustainable Recycling of Li-Ion Batteries and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • NEU Battery Materials Scores US$3.7M for Sustainable Recycling of Li-Ion Batteries

NEU Battery Materials Scores US$3.7M for Sustainable Recycling of Li-Ion Batteries

By e27

  • NEU Battery Materials, a Singapore-based lithium-ion battery recycling startup, has secured US$3.7 million in an oversubscribed seed funding round led by SGInnovate.
  • ComfortDelGro Ventures, Shift4Good, Paragon Ventures I, and other angel investors also joined.
  • These funds will accelerate the deployment of NEU Battery Materials’s automated recycling line, which will lower operational manpower requirements.

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Jul 19
0

Daily Brief Private Markets: Initial Thoughts on the SK Ecoplant IPO – Impact on SK Inc and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Initial Thoughts on the SK Ecoplant IPO – Impact on SK Inc
  • Freakins Raises $4m Seed Round to Grow Denim Brand
  • NodeFlair Gets US$2M in Series A Funding to Further Expand, Accelerate Product Development

Initial Thoughts on the SK Ecoplant IPO – Impact on SK Inc

By Douglas Kim

  • SK Ecoplant is getting ready to complete its IPO sometime in late 2023/1H 2024.
  • Local media have mentioned that SK Ecoplant’s market cap could range from 5 trillion won to 10 trillion won.
  • At the end of 2022, SK Inc’s 44.5% stake in SK Ecoplant had a book value of 545 billion won, which is much less the market value of SK Ecoplant.

Freakins Raises $4m Seed Round to Grow Denim Brand

By Tech in Asia

  • India-based fashion brand Freakins has bagged US$4 million in its seed round led by Matrix Partners India and Blume Ventures.
  • Founded in 2021 by Shaan Shah and Puneet Sehgal, Freakins is a direct-to-consumer clothing brand that specializes in denim.
  • The Gen Z-focused firm has built up a catalog of over 1,500 styles, which it says caters to different body types.

NodeFlair Gets US$2M in Series A Funding to Further Expand, Accelerate Product Development

By e27

  • NodeFlair, a Singapore-based career advancement platform for tech talents, announced today that it has raised US$2 million Series A funding.
  • The funding round was led by Iterative with participation from 500 Global and PERSOL VENTURE PARTNERS, the corporate venture capital arm of HR management group PERSOL.
  • Prominent angel investors Quek Siu Rui (CEO & Co-founder of Carousell), JJ Chai (CEO & Co-founder of Rainforest), and Siew Kum Hong (Former COO of AirBnB China) also participated in the funding round.

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Jul 18
0

Daily Brief Private Markets: Indonesian Agritech Startup Eratani Bags US$2M Seed Funding and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Indonesian Agritech Startup Eratani Bags US$2M Seed Funding
  • Dubai-Based Kaso Raises $10.5m to Optimize Food Supply Chain
  • eFishery Banks US$200M, Targets to Engage 1M+ Aquaculture Ponds by 2025
  • Needle Raises $1.2m to Help Optimize Ecommerce Marketing with AI

Indonesian Agritech Startup Eratani Bags US$2M Seed Funding

By e27

  • Indonesia-based agritech firm Eratani has secured US$2 million in a seed extension round from SBI Ven Capital, Genting Ventures, Orvel Ventures, and Ascend Angels.
  • This deal brings the total seed funding to US$5.8 million.
  • The new investment comes about half a year after Eratani raised US$3.8 million from TNB Aura, Trihill Capital, BIG Ventures, and AgFunder.

Dubai-Based Kaso Raises $10.5m to Optimize Food Supply Chain

By Tech in Asia

  • Kaso, which bills itself as the largest B2B ordering platform for restaurants and suppliers in the Middle East, has raised US$10.5 million in a seed round to fuel its mission of disrupting the food supply chain.
  • Founded in 2021, the Dubai-based firm currently has 5,000 partners in Saudi Arabia and the United Arab Emirates. Its platform streamlines the fulfillment process for restaurants and suppliers, enhancing efficiency and transparency as well as combating food waste.
  • The company estimates that food waste in the Middle East and North Africa (MENA) region amounts to around 250 kilograms per capita per year.

eFishery Banks US$200M, Targets to Engage 1M+ Aquaculture Ponds by 2025

By e27

  • Indonesia’s aquaculture company eFishery has raised US$200 million in its Series D funding round led by Abu Dhabi-based global fund manager 42XFund.
  • Malaysian public sector pension fund, Kumpulan Wang Persaraan (KWAP), Switzerland-based asset manager responsAbility, 500 Global, Northstar, Temasek, and SoftBank also joined.
  • The funds will be used to expand the eFishery farming community, targeting to engage over 1 million aquaculture ponds in Indonesia by 2025 and increasing the transactions of fish feed and fresh fish on the platform.

Needle Raises $1.2m to Help Optimize Ecommerce Marketing with AI

By Tech in Asia

  • Needle, an AI-powered marketing platform from Singapore, has raised US$1.2 million in its pre-seed round led by Iterative, with participation from Ethos Fund and Goldbell Financial Services. Angel investors, including Rainforest founder JJ Chai, also joined the round.
  • The fresh capital will be used to expand Needle’s team, consisting of data scientists, AI trainers, and engineers.
  • Needle helps ecommerce brands optimize their marketing activities. By analyzing data from various platforms, Needle provides personalized recommendations and automates campaign creation, helping firms reduce costs and improve return on investment.

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Jul 03
0

Daily Brief Private Markets: Japanese Startup Flux Bags $32m for No-Code AI Platform and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Japanese Startup Flux Bags $32m for No-Code AI Platform
  • Indonesian Fleet-Tracking Startup TransTRACK Bags US$2.1M Funding
  • Cocoon Capital invests in AI-powered construction planning simulation platform Frontline
  • Finfra Tops up with $1m to Enable Embedded Lending for Indonesian Firms
  • Kazakh Proptech Startup ApartX Raises Seed Funding for SEA Expansion

Japanese Startup Flux Bags $32m for No-Code AI Platform

By Tech in Asia

  • Businesses across the world are rushing to adopt AI. Japan-based startup Flux is targeting companies in the country who want to do so at lower cost and higher efficiency.
  • The firm developed a no-code AI platform called Flux AI. According to Flux, the platform enables businesses to leverage AI technologies such as predictive analytics, natural language processing, and large language models without needing prior coding skills or knowledge.
  • The startup has just raised US$32 million in a series B round led by DNX Ventures.

Indonesian Fleet-Tracking Startup TransTRACK Bags US$2.1M Funding

By e27

  • Indonesia-based fleet-tracking startup TransTRACK has secured US$2.1 million in a pre-Series A funding round.
  • Ortus Star, Cocoon Capital, and YCAB Ventures led the funding round. Goldbell Investment, NP Consulting, Damson Capital, and unnamed angel investors participated.
  • TransTRACK plans to use the fresh funds to expand operations to 100 cities in Indonesia and other Southeast Asian countries, including Malaysia, Singapore, Thailand, Cambodia, and Vietnam, providing an end-to-end supply chain solution for the business players in the region.

Cocoon Capital invests in AI-powered construction planning simulation platform Frontline

By e27

  • Singapore-based construction planning simulation and optimisation startup Frontline Industrial Software has raised US$700,000 in a seed funding round led by Cocoon Capital.
  • Frontline, founded by Luis Martinez and Ruiqi Ding, enables construction companies, operators and contractors to quickly identify best-in-class construction plans with optimal activity sequencing and resource allocation.
  • The software uses Artificial Intelligence to identify the most efficient and cost-effective construction plans for complex infrastructure, civil, energy, industrial and residential projects.

Finfra Tops up with $1m to Enable Embedded Lending for Indonesian Firms

By Tech in Asia

  • Since 2015, Indonesia’s digital economy has grown 10x, reaching US$77 billion in gross merchandise value. However, credit penetration remains low for individuals and businesses alike, with only 3% of Indonesians having a credit card.
  • Access to credit would allow businesses to boost customer adoption, among other things, and Indonesia-based fintech firm Finfra is looking to fill this niche.
  • The startup has raised US$1 million to help make this happen.

Kazakh Proptech Startup ApartX Raises Seed Funding for SEA Expansion

By e27

  • ApartX, a startup focused on rental property management in Kazakhstan, has secured US$250,000 in a seed funding round from local VC firm Big Sky Capital and Activat VC.
  • The funds will be used for talent acquisition, improving the platform functionality, and expanding into new regions, such as Southeast Asia. It will also bolster its R&D efforts.
  • The company aims to broaden its market presence, forge strategic partnerships, and solidify its position in the industry.

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Jun 28
0

Daily Brief Private Markets: Sirclo Banks US$10.5M to Expand in Indonesia and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Sirclo Banks US$10.5M to Expand in Indonesia
  • Hmlet Co-Founder’s New Startup Bags $3.2m to Expand Globally
  • ONEVIEW Raises US$2.9M in Seed Funding Round to Improve Bill Payment Experience
  • Sequoia India Leads $5.7m Round for Climate Tech Startup Newtrace

Sirclo Banks US$10.5M to Expand in Indonesia

By e27

  • Indonesian e-commerce enabler Sirclo Group has secured US$10.5 million in a Series C funding round from Vertex Ventures Southeast Asia and India.
  • This takes the company’s total capital raised to approximately US$100 million, according to VentureCap Insights.
  • Founded in 2013 by Brian Marshal, Sirclo provides omnichannel commerce solutions. It offers two main categories of solutions: entrepreneur solutions and enterprise solutions.

Hmlet Co-Founder’s New Startup Bags $3.2m to Expand Globally

By Tech in Asia

  • Hybr1d, a workforce management platform co-founded by Hmlet co-founder Yoan Kamalski, has raised US$3.2 million in pre-seed funding from Global Founders Capital, MS&AD, 468 Capital, and 1982 Ventures.
  • Kamalski, who stepped down from his role as CEO of Hmlet in March 2021, established Hybr1d with Aditya Anand and Pauline Wetzer last year.
  • His latest venture helps businesses automate and streamline their IT and HR processes, such as onboarding, procurement, and leave and attendance management.

ONEVIEW Raises US$2.9M in Seed Funding Round to Improve Bill Payment Experience

By e27

  • Singapore-based startup ONEVIEW today announced that it had raised S$4 million (US$2.9 million) in a seed funding round from ADERA Global; Beyon Connect, part of the Beyon Group; and Cumulo9 to transform the digital payments and communication landscape across Southeast Asia.
  • In a press statement, the company said that it aims to set the benchmark for a digital post-box service that will greatly improve people’s lives.
  • It aims to revolutionise bill payments by simplifying everyday digital communications with what it promised to be a more convenient, sustainable, and spam-free experience.

Sequoia India Leads $5.7m Round for Climate Tech Startup Newtrace

By Tech in Asia

  • Demand for green hydrogen – or hydrogen that is generated by renewable energy – is expected to climb in the coming years as governments push for a cleaner future.
  • Newtrace, a climate tech firm based in India, is developing a new type of electrolyzer, which is used to create green hydrogen from renewable electricity.
  • The company says its electrolyzers have lower costs and higher efficiency than what is commonly used in the market.

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Jun 27
0

Daily Brief Private Markets: Samsung Ventures Invests in Sleeptech Firm Earable Neuroscience and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Samsung Ventures Invests in Sleeptech Firm Earable Neuroscience
  • Filipino B2B E-Commerce Startup Shoppable Business Attracts US$1.15M Funding
  • Kilde bags $1.1m to bankroll securities tokenization project
  • PolicyStreet Bags $15.3m from Malaysian Gov’t to Bolster Insurance Products

Samsung Ventures Invests in Sleeptech Firm Earable Neuroscience

By e27

  • Earable Neuroscience, a US-headquartered deep-tech company that has developed a sleep tech wearable device, has secured undisclosed bridge funding from Samsung Ventures.
  • Through this investment, Samsung Ventures plans to forge alliances within its local and global network to support Earable Neuroscience’s global expansion, including the Korean market.
  • Established in 2018 by Vietnamese founder Tam Vu, the startup’s sleep tech wearable, FRENZ Brainband, incorporates cutting-edge neuroscience technology into a consumer wearable to enhance sleep quality, improve focus, and promote relaxation.

Filipino B2B E-Commerce Startup Shoppable Business Attracts US$1.15M Funding

By e27

  • Filipino B2B e-commerce marketplace Shoppable Business has secured US$1.15 million in an oversubscribed pre-seed funding round, co-led by Foxmont Capital Partners and Seedstars International Ventures.
  • An unnamed global network of angel investors also participated.
  • The startup will use the funds to grow its business development team, develop more products and features, and expand into new regional markets.

Kilde bags $1.1m to bankroll securities tokenization project

By Tech in Asia

  • Private debt platform Kilde has raised US$1.1 million in seed funding from investors including Big Sky Capital, Borderless Capital, AXL Ventures, and Algorand Foundation.
  • The fresh funds will help the Singapore-based firm expand its private credit offerings and develop SafeBay, its securities tokenization project.
  • Founded in 2019, Kilde caters to accredited and institutional investors by giving them access to private credit deals, which can yield annual returns of up to 13.5%. The company said that its investors have seen annual returns of 11.9%.

PolicyStreet Bags $15.3m from Malaysian Gov’t to Bolster Insurance Products

By Tech in Asia

  • Malaysian insurtech company PolicyStreet has raised US$15.3 million in its series B funding round led by local sovereign fund Khazanah Nasional Berhad.
  • This investment was made under the fund’s 6 billion ringgit (US$1.3 billion) Dana Impak mandate.
  • PolicyStreet offers digital insurance options to both consumers and businesses, aiming to make such products more accessible and affordable with the firm’s in-house underwriting capabilities.

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Jun 02
0

Daily Brief Private Markets: Qatar Sovereign Fund Joins the US$250M Series D Round of Builder.ai and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Qatar Sovereign Fund Joins the US$250M Series D Round of Builder.ai
  • Evermos Raises US$39M to Fuel the Expansion of Its Connected Commerce Network
  • ZUZU Hospitality Raises US$9M in a Series B Funding Round Led by SoftBank Ventures Asia
  • Ringkas Raises US$3.5M to Digitalise Mortgage Process in Indonesia

Qatar Sovereign Fund Joins the US$250M Series D Round of Builder.ai

By e27

  • Builder.ai, an AI-powered composable software platform, has raised US$250 million in a Series D funding round led by Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar.
  • Existing and new investors, including Iconiq Capital, Jungle Ventures, and Insight Partners, joined.
  • This round takes Builder.AI’s total fund raised so far to US$450 million.

Evermos Raises US$39M to Fuel the Expansion of Its Connected Commerce Network

By e27

  • Indonesia-based social commerce platform Evermos today announced that it had raised US$39 million in its Series C funding round.
  • It was led by the International Finance Corporation (IFC) — a member of the World Bank group — and IFC Emerging Asia Fund, LP, managed by IFC Asset Management Company, with the participation of returning partners such as Jungle Ventures, Shunwei Capital, UOB Venture Management, and Telkomsel Mitra Inovasi.
  • This funding round also saw investment from new partners SWC Global, Endeavor Catalyst, and Uni-President Asset Holdings.

ZUZU Hospitality Raises US$9M in a Series B Funding Round Led by SoftBank Ventures Asia

By e27

  • ZUZU Hospitality, a revenue platform provider for independent hotels, today announced an oversubscribed US$9 million (SG$12 million) Series B funding round led by SoftBank Ventures Asia, with participation from Atinum Partners and existing investors Wooshin Venture Investment, Visor Ventures and JG Digital Equity Ventures.
  • The startup plans to double its hotel partner count across the region with a keen focus on India and reach an impressive milestone of 5,000 partners by the end of 2024.
  • Furthermore, it also plans to make strategic investments in AI tools to improve pricing, automate guest management, and improve partner experience.

Ringkas Raises US$3.5M to Digitalise Mortgage Process in Indonesia

By e27

  • Indonesia-based digital mortgage startup Ringkas has secured US$3.5 million in a seed funding round led by East Ventures and Crestone Venture Capital.
  • 500 Global, Teja Ventures, Orvel Ventures, and Hustle Fund also participated.
  • Ringkas will use the fresh funds to advance and scale its platform across multiple cities in Indonesia and the secondary market.

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