Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- Singapore-based Oatside Raises S$47.9 Million in Series B Funding Round
– Asian secondary PE firm TR Capital and VC investor Granite Asia back Oatside.
– Potential for more capital infusion in Series B with support from existing shareholders like Temasek. - GXS Bank Receives $169.4 Million Investment
– Grab and Singtel contribute to the funding round.
– GXS Bank focuses on digital banking for everyday consumers and small businesses. - Shein Reports Over Fourfold Growth in Revenue in 2022
– Fast-fashion group heading towards a public listing in London.
– Recorded revenue of $21.6 billion with net profit tripling to $633.6 million. - ONE Championship’s Annual Losses Narrow by 40%
– Higher revenue leads to a 40% decrease in annual losses for - – Revenue growth from various sources like event ticketing and merchandise climbs to $84.5 million.
- Love, Bonito Sees Doubled Losses in 2022
– Direct-to-consumer fashion platform’s loss doubles to S$23 million.
– Revenue increases by 45.3% to S$64.5 million. - Silicon Box Reports Surge in Losses
– Semiconductor startup experiences a 3.2x increase in losses for the financial year ending December 31, - – Declares revenue for the first time since inception in 2021.
- Jungle Ventures Aims to Raise $600 Million for Fifth Fund
– SE Asian VC firm targeting fund to support startups across Southeast Asia and India. - Maven Asia Capital Set to Close Debut Fund
– Early-stage VC firm anchored by Japan’s SBI Holdings to finalize debut fund by July. - OSK-SBI Venture Partners Announces First Close of Second Fund
– Malaysia-based venture fund reaches first close at $20 million with a target of $40 million by December. - Starshine Semiconductor Raises 1 Billion Yuan in Series B Funding Round
– Chinese tech startup attracting investor attention in efforts for self-sufficiency in chips.
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