Category

Private Markets

Dec 20
0

Daily Brief Private Markets: Hyperlounge Raises US$8M in Series A to Grow Beyond Being a Business Analytics Platform and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Hyperlounge Raises US$8M in Series A to Grow Beyond Being a Business Analytics Platform
  • Venteny Raises $21m Via Indonesia IPO

Hyperlounge Raises US$8M in Series A to Grow Beyond Being a Business Analytics Platform

By e27

  • Hyperlounge, a real-time data analysis and management insights SaaS platform for small and medium-sized (SME) business executives, announced that it had raised US$8 million in Series A investment.
  • The funding round is led by Altara Ventures, together with FuturePlay, StoneBridge, BA Partners, RyuKyung PSG, and Nextrans.
  • South Korean software reseller UClick joined the funding round as a strategic investor.

Venteny Raises $21m Via Indonesia IPO

By Tech in Asia

  • The firm, which provides growth funding and human resource services, went public under the ticker symbol VTNY.
  • Venteny offered around 930 million shares – representing 15% of its enlarged share pool – at a price of 360 rupiah (US$0.023) apiece.
  • The company raised US$21 million, pegging its valuation at around US$158 million.

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Dec 16
0

Daily Brief Private Markets: DEA Raises US$10M from LDA Capital to Accelerate NFT Gaming Platform PlayMining and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • DEA Raises US$10M from LDA Capital to Accelerate NFT Gaming Platform PlayMining

DEA Raises US$10M from LDA Capital to Accelerate NFT Gaming Platform PlayMining

By e27

  • Digital Entertainment Asset (DEA), operator of the PlayMining NFT gaming platform, announced that it had raised a US$10 million investment from Los Angeles-based LDA Capital
  • DEA manages intellectual property (IP) monetisation for content creators and operates the PlayMining platform
  • The funding was meant to further accelerate its business and market expansion and to help optimise the development of PlayMining.

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Dec 14
0

Daily Brief Private Markets: Line Parent’s VC Firm Leads $2.3m Funding for Korean ETF Startup and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Line Parent’s VC Firm Leads $2.3m Funding for Korean ETF Startup

Line Parent’s VC Firm Leads $2.3m Funding for Korean ETF Startup

By Tech in Asia

  • Akros Technologies, a South Korea-based fintech firm, has raised US$2.3 million in a strategic funding round.
  • The fundraise was led by ZVC – the investment arm of Line Corporation parent Z Holdings.
  • Founded last year, Akros Technologies manages its own exchange-traded funds (ETFs) powered by machine learning models. 

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Dec 09
0

Daily Brief Private Markets: Singapore-Based Glints Lays off 18% of Employees and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Singapore-Based Glints Lays off 18% of Employees
  • What Is ChatGPT and What Does It Bring to the Table?
  • Osome Rakes in US$25M Series B to Grow Its Accounting Solutions Beyond SG
  • Malaysian Earned Wage Access Startup Paywatch Bags US$9M for Philippines, HK Expansion

Singapore-Based Glints Lays off 18% of Employees

By Tech in Asia

  • Glints, a Singapore-based careers platform, is laying off employees “based on market conditions and business priorities,” the firm’s co-founder Oswald Yeo said in his address to staff.

  • The development comes after the startup raised US$50 million in a series D funding round in August.
  • In the same month, the firm claimed that its annual revenue and gross profits grew 2.5x over the past 12 months.

What Is ChatGPT and What Does It Bring to the Table?

By Tech in Asia

  • OpenAI, a US-based AI firm set up by Elon Musk and Sam Altman, released the preview version of a chatbot model called ChatGPT (Chat Generative Pre-Training).

  • Immediately, the model took the internet world by storm, as the chatbot produced accurate, human-like answers (most of the time) to questions and commands.

  • In a nutshell, the model was trained using a form of supervised fine-tuning called reinforcement learning from human feedback (RLHF).

Osome Rakes in US$25M Series B to Grow Its Accounting Solutions Beyond SG

By e27

  • Osome helps SMEs set up through a simple platform with easy-to-use software and an expert accountant to take care of financial admin

  • Singapore-based Osome, which has developed an accounting and corporate compliance app for small and medium enterprises (SMEs), has raked in US$25 million in a Series B round
  • The firm plans to expand its Asia operations, primarily in Singapore and Hong Kong

Malaysian Earned Wage Access Startup Paywatch Bags US$9M for Philippines, HK Expansion

By e27

  • Paywatch claims its solution has reached a 50 per cent engagement rate among its Malaysian users this year.

  • Paywatch, an earned wage access (EWA) service provider operating in South Korea and Malaysia, announced a US$9 million pre-Series A financing
  • Paywatch will utilise the money to grow its product offerings, strengthen its presence in existing markets, and accelerate expansion into new markets

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Dec 02
0

Daily Brief Private Markets: HuffPost Investor and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • HuffPost Investor, Binance Join US$15.5M Series A+ Round of Fraud Detection Startup FrankieOne
  • Igloo Scores US$27M More to Extend Series B Financing Round to US$46M

HuffPost Investor, Binance Join US$15.5M Series A+ Round of Fraud Detection Startup FrankieOne

By e27

  • FrankieOne, a global platform connecting customers to multiple identity verification and fraud detection vendors via one API, has added US$15.5 million to its Series A+ round.

  • The new tranche will allow FrankieOne to expand its business across Asia Pacific and North America.

  • Founded in 2019 by Simon Costello and Aaron Chipper, FrankieOne is an identity and fraud detection engine helping companies onboard and protect their customers.

Igloo Scores US$27M More to Extend Series B Financing Round to US$46M

By e27

  • Igloo provides “competitively-priced” insurance for delivery riders in Thailand, Singapore, and the Philippines, and Vietnam
  • Singapore-headquartered insurtech startup Igloo announced an additional US$27 million to close its Series B round at US$46 million
  • The additional funds will provide Igloo with a comfortable multi-year runway

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Nov 25
0

Daily Brief Private Markets: Wealth Management Startup Kristal.AI Nets US$10M Funding and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Wealth Management Startup Kristal.AI Nets US$10M Funding, Expanding into UAE
  • Ayurveda Tech Startup NirogStreet Raises US$12M to Strengthen Supply Chain
  • Indonesia’s Hangry Posts 2.5x Revenue Jump in 2022
  • Vietnamese Electric Bike Firm Secures $8m from Jungle Ventures, Others

Wealth Management Startup Kristal.AI Nets US$10M Funding, Expanding into UAE

By e27

  • Kristal.AI, a private wealth management platform, has secured over US$10 million in its pre-series B round of investment.
  • Kristal.AI will use the new capital for expansion into new markets and driving product and platform innovation.
  • Established in 2016, Kristal is a digital-first private wealth advisory and fund management group serving mass-affluent clients globally.

Ayurveda Tech Startup NirogStreet Raises US$12M to Strengthen Supply Chain

By e27

  • NirogStreet, an Ayurveda tech startup based in Delhi, India, has received US$12 million in a Series B round of funding led by Jungle Ventures.

  • With technology-based interventions, NirogStreet enables doctors by giving technology to run their clinic, access to quality medicines inventory in real-time, and avenues to learn and earn while also closely working with the government, regulators, and research organisations.

  • It has over 50,000 Ayurvedic doctors in the community and encourages them to create and publish case studies and research reports to bring evidence-based treatment similar to modern medicine.

Indonesia’s Hangry Posts 2.5x Revenue Jump in 2022

By Tech in Asia

  • Hangry, an Indonesia-based culinary startup, said it posted a 2.5x revenue growth between January to October 2022 compared to its revenue last year.
  • At its third birthday event earlier this week, the firm’s president, Andreas Resha, said that he felt fortunate that Hangry was in a business that caters to a primary need: food.
  • That’s why demand for its product is “still strong,” he said, despite current macroeconomic disruptions pushing many tech startups to lay off employees.

Vietnamese Electric Bike Firm Secures $8m from Jungle Ventures, Others

By Tech in Asia

  • Dat Bike, a Vietnam-based electric motorbike startup, has raised US$8 million in a funding round.

  • The deal pushes the total funding Dat Bike has raised to date to US$16.5 million.

  • Founded in 2019, Dat Bike said that its electric motorcycles have 4x the range (200 kilometers versus 50 kilometers) and faster charging time (3 hours versus 6 hours) compared to most alternatives.

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Nov 18
0

Daily Brief Private Markets: AI-Driven Property Portal MOGUL.sg Nets US$6.5M Series A and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • AI-Driven Property Portal MOGUL.sg Nets US$6.5M Series A
  • KKR Leads US$48M Series C Round of Indonesian EKYC Company Privy
  • SG’s ADDX Raises $20m in Round Led by Korea’s KB Securities

AI-Driven Property Portal MOGUL.sg Nets US$6.5M Series A

By e27

  • MOGUL.sg’s 3D map supports searches with an immersive experience to help prospective buyers visualise the properties and their surrounding areas better.

  • MOGUL.sg, an AI-driven property search portal in Singapore, has raised S$9 (US$6.5) million in its first-ever funding round.
  • Launched in 2018, MOGUL.sg aims to make property searches easy with smart keywords, property tagging, and a specially curated agent concierge team to assist homeowners.

KKR Leads US$48M Series C Round of Indonesian EKYC Company Privy

By e27

  • Privy has 30M+ verified users and 1,800 enterprise consumers and processes 40M+ digital signatures per year.

  • Jakarta-based digital signature and identity company Privy has secured US$48 million in a Series C funding round.
  • Privy will use the capital to support the development of its new consumer and enterprise products. The company also intends to expand into overseas markets to accelerate growth further.

SG’s ADDX Raises $20m in Round Led by Korea’s KB Securities

By Tech in Asia

  • Singapore private market exchange ADDX has secured US$20 million in a pre-series B extension round.

  • The new capital injection comes on top of the US$58 million that ADDX initially raised in May, the company said in a release.

  • Regulated by the Monetary Authority of Singapore, ADDX uses blockchain and smart contract tech to automate the manual processes in private market investing.

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Nov 11
0

Daily Brief Private Markets: Speedoc Snags US$28M to Bring Advanced Medical Care to Homes in SG and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Speedoc Snags US$28M to Bring Advanced Medical Care to Homes in SG, MY
  • Bangladesh-Based B2B Ecommerce Firm Eyes $5m Raise
  • Better Bite Ventures, Shiok Meats CEO Invest in Animal-Free Dairy Startup Phyx44

Speedoc Snags US$28M to Bring Advanced Medical Care to Homes in SG, MY

By e27

  • Speedoc, a virtual clinic and healthcare solutions platform that brings advanced medical care to homes in Singapore and Malaysia, has announced closing its US$28 million pre-series B funding round.
  • Founded in 2017, Speedoc is a virtual clinic and healthcare solutions platform enabling users access to home-based medical care and services. 
  • It aims to drive medical care needs out of hospitals and clinics by delivering a full suite of healthcare services to homes.

Bangladesh-Based B2B Ecommerce Firm Eyes $5m Raise

By Tech in Asia

  • Bangladesh-based ecommerce startup PriyoShop is looking to add US$5 million in a bridge funding round to its cart.
  • Founded in 2020, PriyoShop handles commerce through its app and manages logistics in locations like Dhaka and Chattogram through its own fleet.
  • The company said that third-party logistics companies then take on shipping across the rest of Bangladesh.

Better Bite Ventures, Shiok Meats CEO Invest in Animal-Free Dairy Startup Phyx44

By e27

  • Phyx44, a biotech-enabled food science startup based in Bengaluru, India, has secured US$1.2 million in seed capital.

  • The startup will use the money to accelerate R&D, expand the team and work on the co-development of product formulation with key partners.

  • Founded in early 2021, Phyx44 develops animal-free milk proteins and fats for use in dairy products. It bets on microbial fermentation as the best way to replicate dairy.

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Nov 04
0

Daily Brief Private Markets: Alternative Assets Marketplace Fundnel Buys Hg Exchange and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Alternative Assets Marketplace Fundnel Buys Hg Exchange, Rebrands as Alta
  • FishLog Raises US$3.5M to Empower Cold Storage Warehouses in Indonesia to Improve Utility
  • TV Tokyo Leads Vietnamese Digital Entertainment Firm’s Series D Round
  • Lazada Group Publishes First ESG Report

Alternative Assets Marketplace Fundnel Buys Hg Exchange, Rebrands as Alta

By e27

  • Singapore-based Fundnel, a leading digital marketplace for alternative investments, has acquired the blockchain-powered private digital securities exchange Hg Exchange (HGX).
  • According to a press release, the acquisition will enable Alta to support the tokenisation and digital custody of alternative assets.
  • This will create an end-to-end solution that makes it cheaper and faster to trade private securities, funds, and asset-backed securities like real estate and luxury assets.

FishLog Raises US$3.5M to Empower Cold Storage Warehouses in Indonesia to Improve Utility

By e27

  • FishLog, an ecosystem enabler for the fisheries cold chain industry in Indonesia, has closed its US$3.5 million pre-Series A round

  • FishLog was established in 2020 by Bayu Anggara, Reza Fahlepi, and Abdul Halim to solve the fragmentation in cold chain fisheries in Indonesia

  • The agritech startup improves cold storage, processor, and distribution in Indonesia’s fisheries to enable the industry to meet global supply and demand better

TV Tokyo Leads Vietnamese Digital Entertainment Firm’s Series D Round

By Tech in Asia

  • Vietnam-based Pops Worldwide, a digital entertainment firm, has raised an undisclosed amount in its series D round.
  • While it did not disclose the size of the deal, the firm previously told Tech in Asia that it had planned to raise US$50 million for its series D round.
  • Founded in 2008 by Esther Nguyen, Pops has 690 million viewers across its OTT, YouTube, TikTok, and Facebook platforms.

Lazada Group Publishes First ESG Report

By Tech in Asia

  • Singapore-based ecommerce giant Lazada has released its first environmental, social, and governance (ESG) report.
  • As a largely unexplored concept in Southeast Asia, the firm enlisted the help of an independent consultant to map out its ESG priorities.
  • The core tenets of the firm’s ESG framework are “empowering communities, developing a future-ready workforce, ensuring responsible stewardship, and effective governance.”

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Nov 01
0

Daily Brief Private Markets: SoftBank Robotics: Robotics Arm of Japanese Conglomerate SoftBank and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • SoftBank Robotics: Robotics Arm of Japanese Conglomerate SoftBank
  • Geek+: Global Leader in Smart Logistics Robotic Technology
  • HAI Robotics: The Pioneer and Leader in ACR Robot Market
  • XPeng Robotics: Early-Stage VC Investment in Developer of Smart Robot Pony
  • Gaussian Robotics: Leading Provider of AI-Powered Cleaning Robots
  • MegaRobo: China-Based Disruptor in Life Science Automation
  • UBTech Robotics: China’s Global AI and High-Tech Robotics Unicorn
  • Keenon Robotics: Innovative Chinese Maker of Indoor Robots
  • Dobot: Make Smart Manufacturing Accessible
  • ROKAE Robotics: Founder-Led Supplier of Flexible Cobots and Lightweight Industrial Robots

SoftBank Robotics: Robotics Arm of Japanese Conglomerate SoftBank

By Andrei Zakharov

  • SoftBank Robotics is a pioneer in the industry of service robots and human-robot interactions. The company unveiled the world’s first social humanoid robot Pepper in 2014.
  • Alibaba Group and Foxconn Technology have invested $118M each in SoftBank Robotics: 5%+ investor shareholders include Alibaba (20%), Foxconn (20%), and SoftBank holds a 60% stake.  
  • The company is struggling to grow revenues, and the business is structurally unprofitable. However, SoftBank Robotics announced RI strategy with plans to introduce a new series of smart robots.  

Geek+: Global Leader in Smart Logistics Robotic Technology

By Andrei Zakharov

  • Geek+ is the fastest-growing robotics startup and producer of warehouse robots powered by AI and deep learning algorithms. The company successfully integrates logistics with robots. 
  • Beijing-Based Geek+ has raised a total of ~$532M in funding over 7 rounds. The last round was a $100M Series E in August 2022 that was led by Intel Capital. 
  • Warehouse robots have a huge market potential driven by rising labor costs in China, lack of human labor in the warehouse segment, and huge fluctuations in production capacity. 

HAI Robotics: The Pioneer and Leader in ACR Robot Market

By Andrei Zakharov

  • Founded in 2016 by Richie Chen and Shengdong Xu, HAI Robotics is a pioneer in ACR systems and warehouse automation robotics unicorn.  
  • HAI Robotics offers flexible automation solutions to improve efficiency while reducing costs. The company’s vision is to utilize robotics to create and deliver value to each factory and warehouse. 
  • China is the hub for the production of AMRs and ACRs, easing the workforce shortage, improving operational efficiency, saving additional storage, and handling a wide range of SKUs. 

XPeng Robotics: Early-Stage VC Investment in Developer of Smart Robot Pony

By Andrei Zakharov

  • XPeng Robotics is a bionic smart robot maker backed by Chinese EV giant XPeng and high-profile investor IDG Capital. The company focuses on AI, robot autonomy, and interaction.
  • Founded in 2016 and headquartered in Shenzhen, XPeng Robotics is an affiliate of XPeng, with R&D centers in Beijing, Guangzhou, and Silicon Valley. 
  • Bloomberg reported that $100M+ Series A financing was the largest single-tranche fundraising for the bionic robot sector in China in the past two years. 

Gaussian Robotics: Leading Provider of AI-Powered Cleaning Robots

By Andrei Zakharov

  • Gaussian Robotics sells a new generation of autonomous cleaning robots that can be applied in office buildings, shopping malls, indoor galleries, hotels, schools, healthcare facilities, and warehouses.  
  • Shanghai-Based unicorn wants to disrupt the cleaning industry with automation, promoting the use of low-cost autonomous cleaning robots worldwide. 
  • The company owns the world’s most advanced commercial cleaning robot portfolio offering cost-effective smart robotic solutions to 2,000+ customers in 40+ countries across 6 regions.

MegaRobo: China-Based Disruptor in Life Science Automation

By Andrei Zakharov

  • MegaRobo is a leader in life science automation, founded in 2016 by CEO Daniel Huang and CMO Zhixin Qiao. The company reached a unicorn valuation of $1B+ in 2022. 
  • MegaRobo wants to improve the efficiency of life sciences research by using robotics and AI technology. In June 2022, AI and robotics unicorn closed the $300M Series C round.    
  • Using AI in R&D drug discovery is gaining traction. The global lab automation market is a ~$5B opportunity and is expected to reach ~$9.4B by 2030. 

UBTech Robotics: China’s Global AI and High-Tech Robotics Unicorn

By Andrei Zakharov

  • UBTech Robotics is a pioneer in AI and leader in intelligent humanoid robots. The company commercialized robots for consumers with a mission to deliver the affordable robot to each family. 
  • UBTech Robotics has raised ~$940M in equity financing and closed an $820M Series C round in May 2018, the single largest funding ever for AI private company.
  • We were impressed by healthy growth at scale, diversified business lines, core AI and robotics technologies, and strong partnerships with Tencent, Apple, and Walt Disney. 

Keenon Robotics: Innovative Chinese Maker of Indoor Robots

By Andrei Zakharov

  • Keenon Robotics is a China-based manufacturer of commercial service robots and one of the largest players in serving F&B in China’s robotics market.   
  • Keenon Robotics has raised a total of ~$244M from SoftBank Vision Fund, Prosperity7 Ventures (Aramco Ventures), CICC Alpha, and VC investors. 
  • VC-Backed robotics startups raised $17.1B in 2021, up from $6.3B in 2020, according to Crunchbase. As of May-22, robotics venture financing totaled ~$4.3B year-to-date, down ~27% y/y.  

Dobot: Make Smart Manufacturing Accessible

By Andrei Zakharov

  • Dobot is a Chinese manufacturer and leading provider of all-perceptive intelligent robotic arms backed by top-tier investment bank CICC and high-profile investors.   
  • Dobot has raised a total of ~CN¥490M in funding over 3 rounds. Investors include Qianhai Fund of Funds, Shenzhen Capital Group, CICC, Potential Capital and Green Pine Capital Partners.
  • The global industrial robotics market is an $80B+ opportunity. The number of robots installed in the automotive industry in China has doubled in 2021.

ROKAE Robotics: Founder-Led Supplier of Flexible Cobots and Lightweight Industrial Robots

By Andrei Zakharov

  • ROKAE Robotics is a Beijing-based supplier of next-generation flexible cobots and lightweight industrial robots backed by Chinese conglomerate New Hope Group and VC investors. 
  • ROKAE Robotics has raised a total of ~CN¥900M in funding over 5 rounds. The last round was a CN¥400M private equity in May-21 that was led by New Hope Group. 
  • The company operates a manufacturing industrial park in Shandong province with an annual output of 50,000+ robots. 

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