Category

Private Markets

Apr 25
0

Daily Brief Private Markets: Kujiale: 3D Design Platform for Home Décor and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Kujiale: 3D Design Platform for Home Décor
  • PICO: Leader in Chinese XR Market

Kujiale: 3D Design Platform for Home Décor

By Shifara Samsudeen, ACMA, CGMA

  • Founded in 2011, Kujiale (1716974D CH)  is a Chinese technology company that provides a 3D design and visualization platform for home decoration and furniture.
  • The company’s AR/VR tech platform allows users to generate design sketches to decorate and furnish their homes, as well as providing information and networking services on home design.
  • The company’s parent Manycore is the largest residential interior DDC cloud-based software provider (Kujiale is the flagship product offered by Manycore) with a market share of 56.5% in 2020.

PICO: Leader in Chinese XR Market

By Shifara Samsudeen, ACMA, CGMA

  • Pico Technology (1870309D CH)  is a Virtual Reality (VR) / Extended reality (XR) technology company that develops and sells VR glasses and comprehensive XR solutions.
  • The company is the market leader in the XR market in China and has a global presence. It was acquired by ByteDance in 2021.
  • PICO is a company to watch for in the VR/XR segment given it operates in a growing market and has already established itself as a prominent player in this space.

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Apr 21
0

Daily Brief Private Markets: 2022 Financial Results of Major Unlisted Companies in Korea and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • 2022 Financial Results of Major Unlisted Companies in Korea
  • VA Corporation: One-Stop Metaverse Platform

2022 Financial Results of Major Unlisted Companies in Korea

By Douglas Kim

  • In this insight, we provide 2022 key income statement items of 12 major unlisted companies in Korea that are likely to complete their IPOs in the next 6-12 months. 
  • Among these 12 private companies, the top five with the highest sales growth in 2022 include Shift Up, Foosung Global, Ecopro Materials, Nexteel, and Smilegate RPG.
  • The top five companies with the highest operating profit growth in 2022 include Nexteel, Ecopro Materials, CJ Olive Young, Foosung Global, and Smilegate RPG. 

VA Corporation: One-Stop Metaverse Platform

By Shifara Samsudeen, ACMA, CGMA

  • Founded in 2021 and headquartered in Seoul, VA Corporation (VA KS) has developed a virtual media platform for the metaverse industry.
  • Through the use of VR, the company’s metaverse platform provides services from planning and production to branding and distribution of content.
  • The company achieved the unicorn status within 13-months of its founding due to its proven track record, making it an attractive investment in the metaverse space.

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Apr 20
0

Daily Brief Private Markets: Seedly Co-Founders’ AI-Powered Healthtech Startup Raises $1.3m and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Seedly Co-Founders’ AI-Powered Healthtech Startup Raises $1.3m
  • BetterPlace Acquires Malaysian On-Demand Frontline Workers Firm Troopers
  • Indonesian E-Medical Records Startup Zi.Care Attracts US$2M Funding
  • Vietnamese Online Coding School MindX Nets US$15M Series B Financing
  • Fit Hub Banks $6.5m to Make Exercise More Affordable
  • SBK Tech Ventures Leads Bangladeshi Transport Startup’s Series A

Seedly Co-Founders’ AI-Powered Healthtech Startup Raises $1.3m

By Tech in Asia

  • Singapore’s Mito Health is one of the growing number of healthtech startups jumping on the AI bandwagon.
  • It’s the new venture of Kenneth Lou and Tee-Ming Chew, who co-founded and exited personal finance firm Seedly in 2022.
  • Using diagnostic results and wearable data, Mito Health plans to create personalized health plans for customers by augmenting medical expertise with AI.

BetterPlace Acquires Malaysian On-Demand Frontline Workers Firm Troopers

By e27

  • BetterPlace, SaaS-based frontline workforce management platform in India, has announced the acquisition of Malaysia-based Troopers, a provider of on-demand, pre-screened, part-time frontline workers to enterprises.
  • The transaction details remain undisclosed.
  • The deal will allow BetterPlace to accelerate its presence and establish a stronger foothold in Southeast Asia. It will integrate Troopers’s automated gig matching and rostering features into BetterPlace’s SaaS platform.

Indonesian E-Medical Records Startup Zi.Care Attracts US$2M Funding

By e27

  • Singapore-based early-stage VC firm Oriza Greenwillow Technology Fund has committed to investing US$2 million in Indonesian startup Zi.Care, which digitises medical records for hospitals.
  • The Jakarta-headquartered electronic medical records (EMR) startup is eyeing a total of US$3 million in this Series A round. Several other regional VCs will also be invited to participate.
  • The startup will use funds to strengthen its focus on increasing digitalisation in the health sector.

Vietnamese Online Coding School MindX Nets US$15M Series B Financing

By e27

  • MindX, an online coding school in Vietnam, has secured US$15M a Series B financing round, led by Kaizenvest.
  • Aksorn, Mynavi Corporation, and Wavemaker Partners also joined the round.
  • The edutech startup will use the money to grow its platform, expand its reach into smaller cities and rural areas, as well as to create more educational content.

Fit Hub Banks $6.5m to Make Exercise More Affordable

By Tech in Asia

  • Living a healthy lifestyle can be burdensome and expensive. Indonesian startup Fit Hub is on a mission to democratize health for middle- and low-income households in Indonesia by offering affordable gym memberships.
  • In Indonesia, the average membership costs US$50 per month, while the startup charges US$17.
  • Since being founded in 2020, Fit Hub has opened up 60 offline clubs across 14 cities in Indonesia. It plans to open 100 clubs by the end of the year.

SBK Tech Ventures Leads Bangladeshi Transport Startup’s Series A

By Tech in Asia

  • Bangladesh’s mass transit system relies heavily on buses, but commuters often face challenges such as overcrowded vehicles, inconsistent fares, and premium charges. 
  • Jatri seeks to address these issues by digitalizing and modernizing the country’s public transportation industry.
  • With the help of technology, the company provides bus operators and owners with a single dashboard that syncs with all vehicles in the network. It also digitalizes information, streamlines processes, and improves resource allocation.

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Apr 19
0

Daily Brief Private Markets: Nreal: AR/MR Technology Player Recognised for Affordable Glasses and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Nreal: AR/MR Technology Player Recognised for Affordable Glasses

Nreal: AR/MR Technology Player Recognised for Affordable Glasses

By Shifara Samsudeen, ACMA, CGMA

  • Founded in 2017 in Beijing, Nreal.ai (1690070D CH) is an Augmented Reality (AR)/ mixed reality (MR) technology company that develops and sells AR glasses.
  • The company’s glasses have received wide recognition as they are designed to be lightweight, comfortable and affordable, making them more accessible to consumers.
  • The company has raised more than USD240m in funding and as per the company, we could expect an IPO over the next 18-24 months.  

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Apr 15
0

Daily Brief Private Markets: Shanghai Longcheer: Leading ODM Vendor Leveraging Its Expertise for AR/VR and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Shanghai Longcheer: Leading ODM Vendor Leveraging Its Expertise for AR/VR

Shanghai Longcheer: Leading ODM Vendor Leveraging Its Expertise for AR/VR

By Shifara Samsudeen, ACMA, CGMA

  • Shanghai Longcheer Technology is a Chinese company that specializes in providing smart products and services including smart phone ODMs, tablets, VR/AR headbands, smart wearables and smart home products.
  • Founded in 2022, the company is one of top three global integrated service providers of smartphone ODMs.
  • Longcheer’s previous attempt to go public in 2018 was rejected, however, it has revived its IPO plans and in 2023, expressed its interest in seeking a public listing.  

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Apr 13
0

Daily Brief Private Markets: Rokid Corporation: AR Player Catering to the Industrials Sector and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Rokid Corporation: AR Player Catering to the Industrials Sector

Rokid Corporation: AR Player Catering to the Industrials Sector

By Shifara Samsudeen, ACMA, CGMA

  • Founded in 2014, Hangzho Rokid Technology (2004144D CH)  is a Chinese developer of AR glasses and AI robotics software products, and the company operates across 10 countries.
  • Rokid’s glasses are mainly used for industrial purposes including in oil & gas, electric power, aviation, rail transport and others thereby creating its own niche in the AR/VR glasses sector.
  • The company has just expanded into North America with further global expansion on the cards and may likely to seek an overseas listing.

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Apr 11
0

Daily Brief Private Markets: NAVER Z: Owner of The Fastest Growing Avatar Platform Zepeto and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • NAVER Z: Owner of The Fastest Growing Avatar Platform Zepeto
  • Japan’s SmartRyde Raises $3.4m to Grow Airport Transfer Services
  • SG Biotech Firm Secures $8.1m at $210m Valuation
  • Malaysian Fintech-As-A-Service Firm Soft Space Closes US$31.5M Series B1 Round
  • Tencent, SGInnovate Join US$18.1M Series A Round of Horizon Quantum Computing
  • ChopValue Scores US$7.7M Funding to Recycle Chopsticks into Furniture, Home Elements

NAVER Z: Owner of The Fastest Growing Avatar Platform Zepeto

By Shifara Samsudeen, ACMA, CGMA

  • Naver Z Corporation, a subsidiary of NAVER Corporation, focuses on developing VR and AR technologies. The company can be regarded as one of the promising players in the Metaverse market.
  • The company’s flagship product, ZEPETO, has become particularly popular among younger users and has been downloaded over 300 million times worldwide.
  • Naver Z (1838597D KS) ‘s VR and AR technologies have a variety of use cases, and the company has worked with businesses and brands in a variety of industries.

Japan’s SmartRyde Raises $3.4m to Grow Airport Transfer Services

By Tech in Asia

  • SmartRyde, a Japan-based marketplace for pre-booked airport transfers, has raised around 450 million yen (US$3.4 million) through a third-party allocation of shares and a subordinated loan from Japan Finance Corporation.
  • NVenture Capital led this series A+ funding round, which also saw participation from investors such as SMBC Venture Capital, Yamaguchi Capital, and Hiroshima Venture Capital.
  • SmartRyde provides its transfer services to over 700 airports worldwide.

SG Biotech Firm Secures $8.1m at $210m Valuation

By Tech in Asia

  • Singapore-based SCG Cell Therapy, a biotech firm, has recently raised US$8.1 million at a valuation over US$210 million, according to VentureCap Insights, which tracks regulatory filings in Singapore.
  • The lead backer of the fundraise – which was marked as a series C1 round – was Hong Kong-based Smartech Investment Holdings, pouring about US$3.4 million into SCG Cell Therapy.
  • The investment firm has also backed other Singaporean biotech firms such as Biocheetah and Lion TCR.

Malaysian Fintech-As-A-Service Firm Soft Space Closes US$31.5M Series B1 Round

By e27

  • Soft Space, a fintech-as-a-service company in Malaysia, has completed its Series B extension round at US$31.5 million led by Southern Capital Group.
  • Returning investor transcosmos, strategic investor JCB, and Hibiscus Fund (jointly managed by RHL Ventures and South Korea’s KB Investment) also participated.
  • “Building on our strong momentum, the new funds will help expand our global footprint and widen our customer base by accelerating the innovation of our full-stack payments platform while expanding into next-generation technological solutions,” said Soft Space CEO Joel Tay.

Tencent, SGInnovate Join US$18.1M Series A Round of Horizon Quantum Computing

By e27

  • Singapore-based Horizon Quantum Computing has secured US$18.1 million in a Series A investment from Sequoia Capital India, Tencent, SGInnovate, Pappas Capital and Expeditions Fund.
  • The investment will allow the startup to strengthen its science and engineering teams to accelerate product development, establish its new engineering centre in Europe, and bring its technology to the market.
  • This round takes Horizon Quantum’s total funding to approximately US$21.3 million.

ChopValue Scores US$7.7M Funding to Recycle Chopsticks into Furniture, Home Elements

By e27

  • ChopValue, a Canadian startup designing and manufacturing products using an innovative, high-performance material engineered from recycled chopsticks, has closed a US$7.7 million funding round.
  • Two unnamed high-profile technology entrepreneurs with expansion interests in Asia Pacific and Europe led the round.
  • Several corporate VC funds and existing investors (VC funds in the climate-tech space and institutional investors such as EDC and BDC) also participated.

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Mar 31
0

Daily Brief Private Markets: Marshall Wace Bets $30m in Singapore’s Thunes and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Marshall Wace Bets $30m in Singapore’s Thunes
  • Thai Insurtech Firm Roojai Bags US$42M in Fresh Funding
  • Right-Hand Cybersecurity Raises US$5M Series A for Asia, US Expansion
  • B2B Life Sciences Marketplace Labviva Secures US$20M Series A
  • Qoala Raises Another $7.5m, Targets Profitability in 3 Years

Marshall Wace Bets $30m in Singapore’s Thunes

By Tech in Asia

  • Thunes, a global cross-border payments firm headquartered in Singapore, has raised US$30 million from London-based hedge fund Marshall Wace, according to VentureCap Insights, which tracks regulatory filings in the city-state.
  • Peter de Caluwe, CEO of Thunes, has confirmed to Tech in Asia that Marshall Wace is the new investor.
  • The funding brings the company closer to becoming a billion-dollar company, with an estimated post-money valuation now pegging at US$776 million after raising about US$166 million in equity funding.

Thai Insurtech Firm Roojai Bags US$42M in Fresh Funding

By e27

  • Thai insurtech company Roojai has secured US$42 million in new financing round, as per multiple news reports.
  • HDI International, a subsidiary of Germany’s Talanx Group, led the round that also saw participation from existing investor IFC.
  • About US$32 million will be invested via direct injection and the remaining amount through a secondary share transaction.

Right-Hand Cybersecurity Raises US$5M Series A for Asia, US Expansion

By e27

  • Singapore-based startup Right-Hand Cybersecurity has received US$5 million Series A funding from former PayPal executive Jack Selby and his venture capital firm AZ-VC.
  • The startup will use the money to expand its operations across Asia and the US while investing heavily in its human risk management (HRM) platform.
  • Right-Hand aims to expand its platform integrations with commonly adopted technologies to improve employee behaviours and lower risk tendencies.

B2B Life Sciences Marketplace Labviva Secures US$20M Series A

By e27

  • Labviva, a Singapore- and US-based AI-driven life sciences digital marketplace, has secured US$20 million in Series A financing led by Biospring Partners.
  • Existing investors Senator Investment Group, B Capital, and Glasswing Ventures co-invested.
  • The Series A funding brings the total amount raised since inception to US$30 million.

Qoala Raises Another $7.5m, Targets Profitability in 3 Years

By Tech in Asia

  • Indonesian insurtech startup Qoala announced that it has raised US$7.5 million in a series B extension round led by Europe’s responsAbility Investments.
  • Existing investors Eurazeo and Indogen as well as new investor AppWorks also participated in the round.
  • The startup declined to comment on its valuation, but VentureCap Insights currently pegs it at US$310 million following the fundraise.

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Mar 24
0

Daily Brief Private Markets: Rebellions: Challenging Nvidia in the AI-Powered Semiconductor Chips and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Rebellions: Challenging Nvidia in the AI-Powered Semiconductor Chips
  • Indian Home Decor Unicorn Livspace Slashes 100 Jobs
  • Japanese Bank Mizuho Leads ~US$270M Series D Equity Round of Kredivo
  • QR Payment Solution for Restaurant Consumers Qlub Secures US$25M Funding
  • Vietnam’s Vingroup Invests in Grab Competitor Be

Rebellions: Challenging Nvidia in the AI-Powered Semiconductor Chips

By Douglas Kim

  • Established in 2020, Rebellions is a leading AI based fabless startup in Korea. In February 2023, Rebellions launched a new artificial intelligence chip, challenging the global leader NVIDIA. 
  • According to the company, its ATOM chip targets specific tasks, allowing the chip to consume only about 20% of the power of an Nvidia A100 chip on those tasks. 
  • Since the company’s inception, Rebellions raised 122 billion won in funding including 30 billion won from KT. The company was last valued at 350 billion won in June 2022.

Indian Home Decor Unicorn Livspace Slashes 100 Jobs

By Tech in Asia

  • KKR-backed home decor unicorn Livspace said it has let go of 2% of its over 5,000-member workforce as it aims to hit profitability as early as this year.
  • Founded in 2014, Livspace offers tech-enabled interior design and renovation services, positioning itself as the Amazon of home decor.
  • One of its notable offerings is Canvas, a SaaS platform that lets designers engage with their customers.

Japanese Bank Mizuho Leads ~US$270M Series D Equity Round of Kredivo

By e27

  • Kredivo Holdings (formerly FinAccel), the parent company of Kredivo and Krom Bank Indonesia, has closed its Series D equity round of funding at ~US$270 million.
  • Founded in 2016, Kredivo is a leading player in the digital financial services industry. It provides customers with instant credit financing for e-commerce and offline purchases and personal loans based on proprietary, AI-enabled real-time decisions.
  • The products include online and offline Buy Now, Pay Later, personal loans, credit cards (physical and virtual) and neobank Krom.

QR Payment Solution for Restaurant Consumers Qlub Secures US$25M Funding

By e27

  • qlub, a payment solution that splits restaurant bills between customers, has raised US$25 million in a new funding round, bringing its total fundraising to US$42 million.

  • The startup plans to use the new capital to accelerate growth, expand to new markets, and build new value-added services for restaurants and customers on the qlub platform.

  • qlub enables customers to pay their restaurant bills in various options — as a group, splitting, or tipping — without needing an app or registration.

Vietnam’s Vingroup Invests in Grab Competitor Be

By Tech in Asia

  • Green and Smart Mobility (GSM) said it will back ride-hailer Be Group‘s efforts to use electric vehicles in Vietnam.

  • GSM was just launched earlier this month by Vingroup chairman Pham Nhat Vuong. 

  • In the first phase of their collaboration, Be Group and GSM will partner with Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) to offer exclusive policy deals for Be drivers to rent or purchase VinFast electric cars and motorbikes.

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Mar 23
0

Daily Brief Private Markets: LG CNS: Aggressive Expansion of AI Capabilities in B2B IT Consulting Services and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • LG CNS: Aggressive Expansion of AI Capabilities in B2B IT Consulting Services

LG CNS: Aggressive Expansion of AI Capabilities in B2B IT Consulting Services

By Douglas Kim

  • LG CNS provides various IT consulting services in the key digital growth areas including cloud, artificial intelligence (AI), big data, smart factory, and smart logistics.
  • LG CNS’s core strength in the AI sector is to capitalize on all the major AI based technologies and providing consulting services to business customers to improve their operations. 
  • LG Corp (003550 KS) owns 49.95% stake in LG CNS, which is expected to complete its IPO sometime in 2023/2024.

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