The month of February was an exciting one in terms of later stage funding rounds in the Southeast Asian startup ecosystem.
In addition to seeing the rise of the latest Indonesian unicorn, as JD.id announced its latest funding round from gojek, we also got to see a greater variety of startups raising a later stage funding round.
Check out the list of the startups that had announced their later stage funding round last month, based on our news coverage and database:
GTRIIP
Funding: Undisclosed Series B
Investor(s): GlobalBrain, Kepventure, Accord Ventures
GTRIIP wants to use the capital for expansion in both hospitality and other commercial properties in the Asia Pacific markets with ageing populations, waning workforces, and high labour costs.
Aerodyne
Funding: Series B
Investor(s): North Summit Capital, Arc Ventures, and Leave a Nest as its key strategic partners and investors in the second round of Series B funding, supporting its plan to enter new APAC markets such as China, India, and Japan.
The company said that it will use the funding to focus on data technology advancement, hiring talent globally. It also aims to continue expansion to key global markets such as Japan, the US, Latin America, Europe, and the Middle East.
TIX ID
Funding: Undisclosed investment
Investor(s): PouchNATION
With this investment, TIX ID aims to extend its on-ground handling capabilities in anticipation of launching its events ticket sales business.
Grab
Funding: US$850M+
Investor(s): Mitsubishi UFJ Financial Group (MUFG), TIS
The investments were meant to support Grab’s effort to further expand into the financial sector.
UangTeman
Funding: US$10M in Series B extension
Inevstor(s): ACA Investments, Pegasus Tech Ventures, Spiral Ventures
The first part of the company’s Series B funding round was led by Draper Associates and Japan’s KDDI Open Innovation Fund.
JD.id
Funding: Undisclosed
Investor(s): gojek
This round takes the company’s total valuation to over US$1 billion, making it the sixth unicorn in the country after gojek, Tokopedia, Traveloka, Bukalapak, and OVO.
CoolBitX
Funding: US$16.75M in Series B
Investor(s): SBI Holdings, National Development Fund of Taiwan, BitSonic, Monex
CoolBitX plans to expand the Sygna product line’s presence beyond the APAC region as the first-to-market FATF-compliant solution for virtual asset service providers (VASPs) around the world. It also plans to continue to innovate its bluetooth-enabled hardware wallet CoolWallet S, its flagship product with a focus on security, functionality, and usability.
Dahmakan
Funding: US$18M in Series B
Inevstor(s): Rakuten Capital, White Star Capital, JAFCO Asia, the GEC-KIP Fund, Woowa Brothers, the former CEO of Nestlé Germany, Partech Partners, Y Combinator
Dahmakan will use the funding to continue building their end-to-end operating system which powers the entire value chain from product development to last-mile delivery from a network of “satellite” distribution kitchens.
Eureka AI
Funding: US$20M in Series B
Investor(s): Apis Partners, Gobi Partners, the Riyad Taqnia Fund, MEC Ventures, SG Innovate, GDP Ventures, Pacific Bridge, and Cianna Capital
The company said that the funding will be used to support its expansion plans in Europe and the US, as well as develop its product portfolio.
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Image Credit: Andrew Neel on Unsplash
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