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Edukasyon extends Series A round to deepen Gen Z student engagement in Philippines

Philippine-based Edukasyon.ph has announced the closing of the second tranche of its Series A round from investors such as Alternate Ventures, French Partners, Lorinet Foundation, KSR Ventures, Mustard Seed.

The deal size has not been disclosed.

The edutech startup will use the capital to build new features, deepen its student engagement, and offer more educational counselling.

Founder and CEO Henry Motte-Muñoz said: “In the past five years, we’ve grown Edukasyon.ph from a search-and-apply website to a holistic platform that guides students through day-to-day choices on education, career and lifestyle.”

Launched in 2015, Edukasyon.ph is a marketplace for students to search, compare and apply to higher education institutions and online courses. It positions itself as a platform to engage with corporations, foundations and non-profit organisations.

The edutech firm’s first tranche of Series A came in Q4 2019. Since then, it fully rebranded the platform and brought 700 listed school partners in the Philippines and abroad and achieved 500,000 registered student users.

Also Read: Philippines edtech startup Edukasyon acquires online directory

Grace David, Chief Marketing & Partnerships Officer of Edukasyon, said: “In addition to our startup’s growth, COVID-19 has enabled us to help accelerate the digital transformation of our education ecosystem. Since the start of community quarantine, we’ve fielded 100,000 student inquiries — 20x more than our average pre-pandemic, ensuring access to information, tools, and other learning opportunities that help secure the future of our Gen Z youth.”

In 2018, Edukasyon.ph acquired FindUniversty, an online directory platform.

Photo by Wes Hicks on Unsplash

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B2B cross-border payments firm Thunes nets US$60M to accelerate growth in Africa, Asia, LatAm

Thunes CEO Peter De Caluwe

Singapore-based Thunes, which operates a global B2B cross-border payments network, has secured US$60 million in Series B round of financing, led by Africa-focused VC firm Helios Investment Partners.

Global payments processing major Checkout.com, as well as existing investors GGV Capital and Future Shape (European deep-tech investor) also joined the round.

The proceeds from the round will fuel the continued development of Thunes’s global network and accelerate its expansion and growth in Africa, Asia and Latin America.

Also Read: Thunes obtains MAS license

A portion of the money will also be deployed to expand its team and product offering.

“This marks a significant milestone in our next phase of growth as we strive towards helping financial institutions and businesses around the world move money between each other in a faster, more economical and reliable way. Our goal is to make financial services affordable and accessible to everyone,” said Peter De Caluwe, CEO of Thunes.

Launched in 2016, Thunes’s global network connects mobile wallet providers, banks, technology companies and money transfer operators, enabling cross-border payments to and from emerging economies “in a fast and secure manner”.

Today, the fintech firm connects different payment players in more than 100 countries.

The startup has regional offices in London, Shanghai, New York, Dubai, and Nairobi.

Also Read: Building bridges to close gaps in cross-border payment

According to a press statement, Africa, Asia and Latin America represent Thunes’s largest growth opportunity, where fragmented and complex payment ecosystems often leave consumers and businesses struggling with slow, costly and unreliable ways of moving money.

“The projected size of emerging markets cross-border payments is around US$45 trillion. We will continue to invest and deliver additional value to the global payments ecosystem and capitalise on this explosive growth. We expect transaction volumes on our platform to double annually, through the expansion of our network,” added De Caluwe.

Tope Lawani, Co-founder and Managing Partner of Helios, said: “The African fintech space, and payments in particular, remains a key focus area for Helios and we continue to look for opportunities to back high-growth companies building key infrastructure for the financial ecosystem in Africa. Thunes is a great example of a firm leading this. The unique network built by the company enables its partners to process cheaper and faster cross-border payments of all types.”

In May last year, Thunes closed a US$10 million Series A financing round led by GGV Capital. Six months later, it secured regulatory approval from the Monetary Authority of Singapore to carry out payments services directly from the country.

Image Credit: Thunes

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Meet the VC: Genesis Ventures’s Martin Tang is positive their portfolio will double by the end of 2020

Martin Tang Genesis Ventures

Genesis Ventures, a private venture debt fund in Singapore, has seen entrepreneur- and banker-turned-investors come together to back it. With a strong philosophy of investing in high growth companies in emerging markets, its main focus is to help Series B and above companies grow.

In our recent webinar, co-founder Martin Tang shed some light on their portfolio companies, funding through COVID-19, and what to expect in 2021.

Key takeaways

  • Started as a venture debt in 2015, Genesis Ventures trailblazed this model in Southeast Asia (SEA)
  • Venture debt as an asset class is very unique. Genesis Ventures provides debt capital to fast-growing startup companies. They invest in companies when they still have a lot of cash
  • Venture debt is a mature asset class in the US, EU, and even India. They see it growing in SEA in the next five years
  • Cash runway, sustainable business model, support of VCs themselves, and good founders are what they look for at a high level
  • While they count on the VC support, they still do their in-depth due diligence
  • Generally, they are sector-agnostic but they have a preference for B2B and enterprise solution companies
  • They usually invest in Series B and onwards but open to Series A too
  • Their first cheque is in the range of US$2.5-3 million
  • They have invested in five startups so far and expect to double portfolio by end of the year
  • Some of their experienced partners feel that if they don’t invest during a crisis, they are missing out
  • They are using this time and resource to do better portfolio management, be it via funding, check-in calls, etcetera.

Also Read: Genesis Alternative Ventures on debunking venture debt myths and finding winners in SEA

Sound words for founders

  • Take the situations seriously but do not get paralysed by it
  • When talking to investors, it makes sense to tell them what they are doing before and during COVID-19
  • Give the investor confidence that these are the issues and you have thought through it
  • Founder integrity is very important
  • It’s wartime; every founder must prepare for winter

Looking forward to 2021

  • Genesis Ventures will continue portfolio management and fundraising despite the pandemic
  • They will be looking for good companies to fund as life gets back to normal

Watch the full video recording here:

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In brief: Silver Lake invests in Byju’s; Launcho Ventures launches startup studio in S’pore

Byju's Founder and CEO Byju Raveendran

Byju’s Founder and CEO Byju Raveendran

Indian edutech unicorn gets fresh investment

The story: India’s edutech unicorn Byju’s has raised a new round of funding.

Investors: Silver Lake, Tiger Global, General Atlantic and Owl Ventures.

More details: Since the lockdown, the app has seen over 20 million new students start learning from its platform for free. Today, the app has over 64 million registered students and 4.2 million annual paid subscriptions.

As per Crunchbase, Byju’s has raised US$1.6 billion from over 20 investors to date, including Chan Zuckerberg Initiative (CZI), a fund launched by Facebook Founder Mark Zuckerberg and Dr. Priscilla Chan.

Also Read: Why edutech is becoming an investor favourite this season

Last month, Byju’s acquired WhiteHat Jr., a Mumbai-based coding platform. With coding fast emerging as a key skill for the future, this integration will also accelerate Byju’s international expansion plans.

Launcho Ventures launches startup studio in Singapore

The story: Launcho Ventures has announced the launch of a new venture studio in Southeast Asia.

The objective: Based in Singapore, it seeks to fund, build and scale successful companies across the region by identifying and transforming ideas with viable business cases into independent companies through collaboration with entrepreneurs and skilled professionals.

Companies are created in-house through internal ideation as well as co-created with other world class founders in the region.

How it is different: Unlike an accelerator or incubator, entrepreneurs bring an idea to Launcho very early on and they are given the resources they need to build enduring businesses. With an experienced team, they will work closely together to evolve the idea into a robust strategy, validate the concept with research, build an MVP and go on to launch and then successfully scale the venture.

Launcho will provide funding and hands-on support from an experienced team of successful entrepreneurs.

Also Read: How startup studio T9L plans to help startups use their runway more effectively

Who is behind Launcho: Its founding partner Martin Berry is a successful founder, having built and sold companies with values in excess of US$600 million and has gone on to make over 50 venture investments in early-stage technology companies to date.

He founded Gong Cha Korea in 2012, acquired its parent company Royal Tea Taiwan in 2016, and went on to scale the Gong Cha brand globally to 18 countries and 2,000 outlets worldwide.

Key features of Launcho studio:

  • Founder salary of S$3,500 per month throughout the duration of the programme
  • Free office space at Launcho Ventures
  • Unlimited access to the Launcho Ventures team and network to work side-by-side in building and launching the venture.
  • Funding of up to S$300,000, with the potential for further follow-on funding based on KPIs.
  • A milestone-driven programme rather than a time-driven one — allowing sufficient time for founders to prove their concept and potential opportunity to pivot.

OctiFi launches buy-now-pay-later app in Singapore

The story: Fintech startup OctiFi launched a buy-now, pay-later financing platform to the Singapore market today.

The objective: The company aims to streamline financing by bringing its solutions to all sales channels: be it offline, online, traditional, small, large or even live-commerce.

Also Read: 500 Startups invests in buy-now-pay-later services startup Split

What is the app about?: OctiFi offers consumers the option to pay an interest-free instalment over a given period, after which they can earn further cashback rewards for paying before the due date. The service benefits both online and offline merchants, such as traditional retailers and service providers.

With more than 30 companies already using the service, OctiFi has successfully market-tested the service and plans to offer its service to the wider Singapore market.

Image Credit: Byju’s

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Ageing gracefully: Why GERO is optimistic about its chance in the race for anti-ageing drug

Left to right: Olga Burmistrova, Peter Fedichev, Konstantin Avchaciov

Humans are animals with one of the longest lifespans in the world, yet we are also one that is continuously developing new ways to live longer. While scientists are researching drugs and vaccines, others are experimenting with yoga, fitness, and keto diets. All just to look better, live longer and avoid illnesses.

But is it really possible to hack a natural process such as ageing?

Singapore- and Russia-based GERO, a biotech company developing drugs for complex diseases with a focus on anti-ageing, says that it has recently demonstrated successful results on mice.

In an interview with e27, GERO Founder and Chief Science Officer Peter Fedichev highlights why he thinks it is possible to develop drugs for anti-ageing, its experiment with mice, the race for a successful drug, and the social problems that it can solve.

“Boosting human age span is a very ancient idea,” Fedichev says. “Over the last 100 years, human life on average has increased almost two times. So, in the 1900s, the average lifespan for an individual living in the US was about 40-45 years old but now it is almost 80. So cheating age is not a new idea.”

Fedichev adds that ageing increases the risk of illness in humans and the goal is to find drugs that extend one’s disease-free survival.

The rat race for a cure

GERO is not the only company attempting to find the cure to ageing. Its biggest competitors are two publicly listed companies: Unity Biotechnology and resTORbio —a Novartis spinout.

Also Read: In brief: Singapore’s biotech startup Gero raises US$2.2M Series A

The two have already managed to conduct clinical trials on humans, suggesting that certain drugs can rejuvenate the immune system and age in humans. However, their most recent attempts have been unsuccessful.

Outside of the two, there are also other companies continuing the research on anti-ageing drugs on animals. The most promising one is a study published in the journal Cell Reports where researchers have found a way to make worms live five times longer than their average life span.

What makes GERO’s approach different from the rest is the fact that they use human data to form hypothesis whereas other companies are using data from mice then applying it on humans.

But for the time being, studies need to be conducted on animals first as results need to be proven until they move towards the next phase.

“It’s pretty hard to learn from mice. And that’s why I think we should study from humans. Our human-centric approach is a distinct point,” Fedichev opines.

Despite the challenges, the research that GERO conducted has shown promising results. Held in one of the laboratories at the National University of Singapore (NUS), an experiment was conducted on 12 mice in three interventions. Within some time, the mice in the treated group began to show significant results in terms of mobility, immune system, and neuroplasticity.

“We did our experiments on old mice in the labs that were so old that they almost dying of natural diseases, mostly cancer. We treated them with our experimental drugs using injection and were able to extend their life to two months. But more importantly, we noticed many multiple partial improvements like stronger immune function and improved neuroplasticity,” Fedichev further details.

As for the possible side effects of the treatment, the founder says that due to the experiment being conducted on small animals, it is hard to tell what the side effects just yet.

The study that details the result of this experiment will be published in late 2020 or 2021, according to the company.

Also Read: Morning News Roundup: HR tech startup EngageRocket secures US$3M in Series A funding led by Qualgro

The social potential

As a biotech company, there are reasons why GERO chose to set up one of its headquarters in Singapore. First of all, it is due to its ongoing collaboration with the NUS ageing centre led by Professor Brian Kennedy.

The second reason is due to the country’s ageing population problem, and the company’s attempt to solve it.

“The world is now in a demographic transition, which means that there will be more people over 65 than people over 60. Singapore is also not a country which can import many migrants. The problem is that since there are too many old people, it is difficult for this population to sustain themselves,” Fedichev explains.

Despite the challenge, Fedichev stresses that Singapore is the most advanced country in terms of recognising the problem of ageing; he also says that it is perhaps the first government in the world to allow clinical trials for anti-ageing drugs.

This indicates that there is a potential market for the innovation that GERO is building.

Further strengthening its promies, recently, GERO managed to raise US$2.2 million in a Series A funding round from Bulba Ventures (Belarus) and a few undisclosed serial entrepreneurs.

But will there ever be a successfully developed anti-ageing drug in the market? Especially one that is made by a startup in Southeast Asia?

Only time can tell.

Image Credit: GERO

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