In today’s briefing:
- Singapore-based web3 startup nets $3.5m funding
- NTU-incubated startup Amperesand charges ahead with funding
- Monk’s Hill, Iterative back Vietnamese wealth management startup 1Long | e27
- India pet care startup scores $15m to help first-time owners
- Prefer scores US$2M funding to take its bean-free coffee brand to Philippines | e27
- MediConCen bags US$6.85M to take its AI, blockchain-powered insurtech platform to SEA | e27
- UNOAsia secures US$32.1M to provide digital banking services in Philippines | e27
Singapore-based web3 startup nets $3.5m funding
Startale Labs, a Singapore-based Web3 startup, has raised US$3.5 million in a series A follow-up round, according to Alternatives.pe.
UVM Signum Blockchain Fund, Sony Network, and Samsung Next Ventures were some of the investors in the round, which was raised at a post-money valuation of US$63.5 million.
Founded in January 2023, Startale Labs specializes in Web3 infrastructure development. Helmed by Sota Watanabe, the company creates core infrastructure and applications for Web3 that is integrated onto the Astar Network blockchain.
NTU-incubated startup Amperesand charges ahead with funding
- Amperesand, a Singapore-based electrical infrastructure company, has raised over US$12.4 million in seed funding.
- Xora Innovation, Temasek’s deeptech early-stage investment platform, co-led the round with venture capital firm Material Impact.
- TDK Ventures, the venture arm of Japanese electronics firm TDK, also participated, along with Foothill Ventures.
Monk’s Hill, Iterative back Vietnamese wealth management startup 1Long | e27
- The 1Long founding team 1Long, a wealth management platform in Vietnam, has received US$500,000 in a pre-seed investment round from Iterative, Monk’s Hill Ventures, R2VP, and Orionis Capital.
- The new capital will be channelled into technology development, partnerships with asset managers and financial institutions, and strategic team expansion.
- Also Read: ‘Resistance to digital wealth management has almost disappeared in SEA’: Bambu CEO Ned Phillips Founded by a team of former investment banking and Y Combinator-backed veterans, 1Long enables individuals to start with as little as 10,000 VND (approximately less than US$1).
India pet care startup scores $15m to help first-time owners
- In India, demand for pets is on the rise – so much so that the country’s pet care market is estimated to reach US$1.9 billion by 2030. However, that also means an influx of first-time pet owners who don’t always know how to take care of their charges.
- That’s where companies like Supertails come in.
- An India-based pet care startup, Supertails addresses the needs of inexperienced owners by offering a holistic platform for pet care in India.
Prefer scores US$2M funding to take its bean-free coffee brand to Philippines | e27
- Prefer, a bean-free coffee startup in Singapore, has raised US$2 million in seed funding led by Forge Ventures.
- 500 Global, A*ccelerate, Better Bite Ventures, Sopoong Ventures, SEEDS Capital, Entrepreneur First, and Pickup Coffee also participated in the round.
- The capital allows Prefer to make significant investments in growing the capacity of its production facility, expanding its ground coffee and ready-to-drink bottled beverages across Asia Pacific, starting with Singapore and the Philippines.
MediConCen bags US$6.85M to take its AI, blockchain-powered insurtech platform to SEA | e27
- Hong Kong-based MediConCen, a startup automating insurance claims using AI and blockchain, has raised US$6.85 million in its latest Series A round.
- HSBC Asset Management led this round, with support from existing investors G&M Capital and ParticleX and new investor Wings Capital Ventures.
- Also Read: Wealthtech, insurtech, SaaS fintech are the new hot verticals in Indonesia: AC Ventures report This brings MediConCen’s total raise to US$12.7 million.
UNOAsia secures US$32.1M to provide digital banking services in Philippines | e27
- UNOAsia, the company behind UNO Digital Bank in the Philippines, has raised US$32.1 million in a pre-Series B investment round comprising equity and debt.
- The investors include Gateway Partners, Creador Private Equity, and Nextinfinity Management.
- This round brings UNOAsia’s total raise to approximately US$75 million.
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