In today’s briefing:
- Singaporean Biotech Startup Automera Secures US$16M Series A Financing
- East Ventures Leads $3m Round of Indonesian Raw Materials Platform
- Ex-Tesla Exec’s EV Startup Charges Ahead with $3m Funding
- MADCash Bags US$1.1M to Provide Zero-Interest Micro Funds to Female Entrepreneurs in Malaysia
Singaporean Biotech Startup Automera Secures US$16M Series A Financing
- Singapore-based biotechnology startup Automera has secured US$16 million in a Series A round of investment co-led by early-stage life science accelerator and investment firm Accelerator Life Science Partners (ALSP) and Temasek-backed venture builder ClavystBio.
- EDBI, Xora Innovation, and other undisclosed investors also participated.
- Automera was established by Associate Professor Michael Lazarou, Loong Wang, and Taiyang Zhang at Talo Labs in collaboration with ALSP.
East Ventures Leads $3m Round of Indonesian Raw Materials Platform
- MSMEs play a big role in Indonesia’s economy. In 2019, the Indonesian government reported that there were 65.4 million MSMEs in Indonesia, constituting 60.5% of its GDP.
- But for many of these small companies across the region, digitalization is still a new concept, and this provides opportunities for big tech companies as well as startups to fill the gap.
- One such player is Indonesia-based Bababos, which targets SMEs in the manufacturing space. The startup operates a platform that matches these SMEs with suppliers of raw materials like steel, polymers, and chemicals.
Ex-Tesla Exec’s EV Startup Charges Ahead with $3m Funding
- In just five years, India’s electric-vehicle sector has surged, positioning the country to become the world’s largest EV market by 2030.
- In addition to their cost and environmental advantages, EVs also enjoy tax benefits in India. However, despite having 3 million EVs on the road, the country hasn’t established standardized charging protocols for these vehicles.
- With that in mind, Raptee said it is the first Indian EV startup to opt for the Combined Charging System Type 2 connectors, or CCS2. By integrating both AC and high-power DC charging, the system expedites the charging process, particularly at Level 3 charging stations.
MADCash Bags US$1.1M to Provide Zero-Interest Micro Funds to Female Entrepreneurs in Malaysia
- MADCash, a fintech startup focused on providing zero-interest micro funds to women entrepreneurs in Malaysia, has completed its MYR 5 million (US$1.1 million) pre-series A funding round led by Artem Ventures.
- MSW Ventures and ScaleUp Founders Fund also co-invested.
- The startup will use the funds to enhance its online platform using AI technology, cover operational and marketing expenses, and explore expansion opportunities within Southeast Asia.
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