Category

Private Markets

Sep 04
0

Daily Brief Private Markets: Livspace: A Tech-Enabled Home Interior and Renovation Marketplace in Asia and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Livspace: A Tech-Enabled Home Interior and Renovation Marketplace in Asia

Livspace: A Tech-Enabled Home Interior and Renovation Marketplace in Asia

By Alec Tseung

  • Livspace brings together designers, brands, manufacturers, and contractors onto its marketplace. 
  • It automates the entire process from interior design to managing last mile fulfilment for all rooms in users’ homes.
  • The company was valued at $1.2bn based on its last capital raise in Feb 2022; it operates in India, Singapore, and Malaysia and plans to expand to other makers aggressively.

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Sep 02
0

Daily Brief Private Markets: Carro Sees Profitability and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Carro Sees Profitability, Doubles Revenue to $464m
  • Glints Bags $50m Series D Funding After Doubling Revenue and Gross Profits
  • Jet Commerce Raises US$60M for Brazil and Singapore Expansion, to Further Scale up in China
  • Jungle Ventures Leads Vietnamese Insurtech Startup Medici’s Series A Round

Carro Sees Profitability, Doubles Revenue to $464m

By Tech in Asia

  • Singapore-based Carro more than doubled its revenue in its latest financial year, raking in more than S$650 million (US$464.2 million) in revenue.

  • The used-car platform, which also achieved profitability in FY 2021, said it is tracking at over US$930 million in run-rate revenue. It expects to see another 2x growth in revenue for FY 2023.
  • Aaron Tan, co-founder and CEO of Carro, attributed the firm’s profitability to its focus on online retailing and machine learning.

Glints Bags $50m Series D Funding After Doubling Revenue and Gross Profits

By Tech in Asia

  • Glints, a Singapore-based careers platform, has raised US$50 million in a series D funding round co-led by DCM Ventures, Lavender Hill Capital, and Persol Holdings.
  • The deal pushed the firm’s total funding to date to more than US$80 million, making it the most funded startup in Southeast Asia’s talent recruitment space.
  • Glints connects companies to talent pools in Indonesia, Malaysia, Singapore, Vietnam, the Philippines, and Taiwan

Jet Commerce Raises US$60M for Brazil and Singapore Expansion, to Further Scale up in China

By e27

  • Jet Commerce launched a Live Commerce service through its newest business unit, Lumbalumba, last July and inaugurated its live streaming centre
  • Indonesia-based e-commerce enabler, Jet Commerce, has announced the completion of its Series B funding round of more than US$60 million (IDR 900 billion).
  • Jet Commerce will use the funds to upgrade infrastructure, recruit more professional local talent, improve research and technology development, and strengthen its ability in brand incubation.

Jungle Ventures Leads Vietnamese Insurtech Startup Medici’s Series A Round

By e27

  • Iinsurance startup Medici claims it has hit double-digit m-o-m growth and has 35+ branches across almost 40 provinces.

  • Vietnamese healthtech and insurance startup Medici has received an undisclosed sum in a Series A round led by existing backer Jungle Ventures.
  • The company will use the money to improve its technology infrastructure to capture the tremendous growth opportunity of Vietnam’s insurance and healthcare market.

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Sep 01
0

Daily Brief Private Markets: Avanseus: A Singapore-Based Startup and Provider of AI-Based Predictive Maintenance Software and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Avanseus: A Singapore-Based Startup and Provider of AI-Based Predictive Maintenance Software

Avanseus: A Singapore-Based Startup and Provider of AI-Based Predictive Maintenance Software

By Andrei Zakharov

  • Avanseus Holdings plans to go public in partnership with Fat Projects Acquisition Corp (FATP US) The combined company is expected to trade on the Nasdaq under a new ticker symbol.
  • Fat Projects Acquisition Corp. values the combined companies at a pro forma EV of $135.7M. SPAC is focused on tech-led businesses in Southeast Asia and closed its IPO in 2021.   
  • Avanseus Holdings needs to access the capital markets to raise money and expand into new countries and industries, invest in R&D and launch new products.

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Aug 26
0

Daily Brief Private Markets: Softbank (9984 JP) – This Time and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Softbank (9984 JP) – This Time, It’s Chime

Softbank (9984 JP) – This Time, It’s Chime

By Victor Galliano

  • US fintech Chime, another high-profile fintech in Softbank’s Vision Fund 2 portfolio, sees its secondary market valuation in the private market fall by nearly 50% on a year-to-date basis
  • Chime had been planning to IPO in 1H 2022, with its IPO valuation estimated at close to USD40bn; poor market conditions have led to the IPO being shelved
  • Chime’s reduced valuation is another hit to Softbank’s portfolio, which has yet to feature a recent “down round”, and which we believe negatively impacts its Vision Fund 2 in particular

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Aug 23
0

Daily Brief Private Markets: The Pinkfong Company: Baby Shark Unicorn in Korea and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • The Pinkfong Company: Baby Shark Unicorn in Korea
  • Shift Up Corp – A Rising Unicorn in the Korean Game Industry
  • IGA Works – Data Tech Marketing SaaS Unicorn in Korea

The Pinkfong Company: Baby Shark Unicorn in Korea

By Douglas Kim

  • The Pinkfong Company was valued at about 1 trillion won, according to local reports in early 2022. Samsung Publishing (068290 KS) owns a 16.8% stake in The Pink Fong company.
  • For now, The Pinkfong Company does not have any near term plans for an IPO. However, it may try to complete its IPO sometime in 2023/2024.
  • The Pinkfong Company’s sales increased by nearly 500% in the US to reach 24.9 billion in 2021, accounting for 30% of the company’s total sales in 2021.

Shift Up Corp – A Rising Unicorn in the Korean Game Industry

By Douglas Kim

  • Shift Up is a game developer in Korea that recently reached the unicorn status. 
  • The company is expected to launch Goddess of Victory: Nikke mobile game and Eve console game on PS5 sometime in late 2022/early 2023. 
  • The CEO of Shift Up Kim Hyung-tae previously worked as an art director at NCsoft. Shift Up is expected to complete an IPO in 2023. 

IGA Works – Data Tech Marketing SaaS Unicorn in Korea

By Douglas Kim

  • IGA Works is an data tech, digital marketing SaaS unicorn in Korea. It is getting ready for an IPO by the end of 2022.
  • IGA Works is a data technology company that provides a complete set of platforms and services for digital transformation and data-driven marketing. 
  • Recent local media accounts have mentioned that the the corporate value of IGA Works could exceed 2 trillion won.

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Aug 05
0

Daily Brief Private Markets: PhonePe Tearsheet – India’s SuperApp Ambition and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • PhonePe Tearsheet – India’s SuperApp Ambition

PhonePe Tearsheet – India’s SuperApp Ambition

By Pranav Bhavsar

  • Phonepe Pvt Ltd (1732974D IN) runs a digital payment and technology App in India and is currently the leader in terms of UPI transactions processed. 
  • Our channel feedback suggests the possible disruption from initiatives like ONDC to be positive for payment apps like PhonePe, with the possible acceleration towards the SuperApp Journey. 
  • Revenues are always growing, and so are losses. With ONDC, there is a possibility this may change faster than anticipated and hence warrants close attention. 

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Aug 03
0

Daily Brief Private Markets: Apna Tearsheet – LinkedIn for the Masses and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Apna Tearsheet – LinkedIn for the Masses

Apna Tearsheet – LinkedIn for the Masses

By Pranav Bhavsar

  • Apna (1826169D IN) ‘s is India leading networking and jobs platform primarily targeted towards the +250 million grey and blue collared workers, who usually are not on Linkedin. 
  • Channel feedback is mixed, Apna is not the only platform of choice. Community initiatives and vernacular interface are key differentiators along with simplicity. 
  • Profitability could remain a challenge, Monetisation is work in progress. The model is interesting, but making money off the bottom of the pyramid has never been easy. 

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Aug 02
0

Daily Brief Private Markets: Groww Tearsheet – Simplifying Investments and Savings and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Groww Tearsheet – Simplifying Investments and Savings

Groww Tearsheet – Simplifying Investments and Savings

By Pranav Bhavsar

  • Groww (1573648D IN) is a wealth management and investment platform designed to simplify investing especially for first-time investors. 
  • Channel feedback indicates Groww’s simple UI, and lower cost/fees as the primary reasons for them investing via the platform. 
  • Revenues have seen a COVID-led sharp jump, and growth with low marketing expenses and operational profitability offer a compelling narrative. 

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Jul 31
0

Daily Brief Private Markets: Dealshare Tearsheet – Social Commerce For the Masses and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Dealshare Tearsheet – Social Commerce For the Masses

Dealshare Tearsheet – Social Commerce For the Masses

By Pranav Bhavsar

  • Serving the masses, Dealshare (1907039D IN) is India’s social commerce company efficiently taking on e-commerce grocery giants in India. 
  • Channel feedback is positive, the company is well positioned & focused on a specific part of the market and seems to be doing well. 
  • The efforts are translating into growing revenues, but the profitability is yet to follow.  The model is interesting and warrants close attention. 

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Jul 30
0

Daily Brief Private Markets: Dailyhunt Tearsheet – News For “Bharat” and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Dailyhunt Tearsheet – News For “Bharat”

Dailyhunt Tearsheet – News For “Bharat”

By Pranav Bhavsar

  • DailyHunt (1449267D IN) is one of India’s leading vernacular content curation and engagement platforms and also one of the most funded content startups. 
  • Channel interactions indicate a challenging competitive position that requires constant cash burn. 
  • In terms of financials, there is no sight of profitability in the near term. Unless that changes, it is best to remain cautious. 

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