In today’s briefing:
- EBITA-profitable Allies of Skin raises $20m for US expansion
- SeaTown leads US$40M funding of asset servicing firm Linnovate Partners | e27
- Wavemaker leads $4m round of Staple
- Elevarm Raises US$2.6M to Empower Indonesia’s Small-Holder Farmers | E27
- Jejakin raises US$2.7M to help organisations achieve net zero targets | e27
EBITA-profitable Allies of Skin raises $20m for US expansion
- Singapore-based beauty brand Allies of Skin is set to expand into the US after raising a US$20 million funding round from Meaningful Partners.
- This follows the company hitting positive EBITA in 2023, its founder Nicolas Travis told Tech in Asia.
- Allies of Skin, founded in 2016, said the round is its first institutional raise, but it has received private investments in the past – including capital from Crazy Rich Asians star Henry Golding.
SeaTown leads US$40M funding of asset servicing firm Linnovate Partners | e27
- Singapore-based Linnovate Partners, an asset servicing and fintech company for the alternative investment industry, has received a US$40 million funding commitment led by Temasek-owned SeaTown Private Capital Master Fund.
- This capital infusion will enable Linnovate to scale operations and drive innovation.
- Henry Lin, founder and CEO of Linnovate Partners, said: “This investment will be instrumental in accelerating our growth trajectory, providing us with the necessary resources to enhance our service offering, and continue delivering cutting-edge solutions to our clients and the industry itself.”
Wavemaker leads $4m round of Staple
- Companies handle anywhere from 1,000 to 100,000 documents in various formats on a monthly basis, and they usually rely on manual processes due to the unstructured nature of the data, says Paul Santos, managing partner at Wavemaker Partners.
- To speed this up, Wavemaker Partners has invested in Staple, a Singapore-based startup that applies AI to provide document processing solutions.
- The VC firm has led a US$4 million pre-series A funding round in the startup, which can process various document types across over 200 languages.
Elevarm Raises US$2.6M to Empower Indonesia’s Small-Holder Farmers | E27
- Indonesia’s integrated farming productivity platform Elevarm has secured US$2.6 million in a seed funding round led by Singapore’s Insignia Ventures Partners.
- 500 Global and eFishery founder and CEO Gibran Huzaifa also participated.
- The strategic raise, completed in two phases, will be used to scale Elevarm’s seedlings and organic fertiliser production capacity threefold to meet growing demand.
Jejakin raises US$2.7M to help organisations achieve net zero targets | e27
- Jejakin, an Indonesian-based carbon management platform, has secured US$2.7 million in a funding round from Bhinneka Power, Indogen Capital, SMDV, and East Ventures.
- The capital will be mainly invested in R&D, technological improvement, and market growth.
- Jejakin was founded in 2018 by Arfan Arlanda, Sudono Salim (CGO), Andreas Djingga (COO), and Haris Iskandar (Chief of Sustainability and Climate Change) with a mission to make a positive impact on the environment.
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