Ecosystem Roundup: OpenSea forms US$110M Web3 fund, GoTo begins US$1.1B IPO process, Pace buys Rely

OpenSea raises US$110M for second Web3-focused fund
gumi Cryptos Capital will invest in early-stage companies that build solutions in blockchain infrastructure, developer tools, gaming, DeFi, metaverse, DAOs, and Web3 apps; It aims to back 50 companies, with a ticket size between US$500K to US$5M.

Indonesia’s Quick commerce startup Astro finalises US$60M Series B round
Accel Partners and Tiger Global are said to be leading the round; The firm raised US$27M in Series A ed by Accel and Sequoia India in February; Astro offers 1,000 products and promises 15-minute delivery.

Insitor completes US$42M first close of Fund II, strengthens gender lens focus
It has a target to reach US$70M by the end of 2022; It plans to make 12-15 investments in high-growth and scalable ventures better health, sustainable living, and economic growth; It has already backed three companies in India and Pakistan.

GoTo begins US$1.1B IPO process
The amount is lower than the company’s initial plan to raise a maximum of US$1.4B; The final process, which has been approved by Indonesia’s Financial Services Authority, will catapult the company’s valuation to US$27.9B.

Axie Infinity side chain loses US$620M in possible largest-ever crypto heist
Ronin Network suffered a security breach, resulting in the theft of 173,600 ether and about US$25.5M in USDC stable coins; The attacker used hacked private keys in order to forge fake withdrawals.

Animoca backs US$10M round of metaverse-bound healthtech firm GOQii
GOQii has also partnered with Animoca to develop a health-focused metaverse ecosystem with a new virtual token program called Token; GOQii’s metaverse foray builds on GOQii Cash, a virtual rewards program that launched in 2018.

Ampverse nets US$12M Series A to grow its e-sports platform in Indonesia, Philippines
Investors include Falcon Capital, Vulpes, Gandel Invest, and gaming, media, sports and e-sports industries veterans
Ampverse will also look to acquire play-to-earn guilds it moves into the P2E space to complement its existing e-sports IP pillar.

Mighty Jaxx closes Series A+ round to take its phygital collectibles to China
Investors are iDreamSky Technology and an undisclosed tech firm; This deal comes days after Mighty Jaxx announced the first close of a US$20M Series A extension led by East Ventures (Growth Fund).

Pace acquires Polaris-backed buy-now-pay-later pioneer Rely
The acquisition will enable consumers to use Pace’s alternative payment solutions across a wider network of brands in Singapore and Malaysia; Pace operates has built 5,000+ POSes across Singapore, Malaysia, HK, Thailand, and Japan.

Japanese HR firm Mynavi buys East Ventures-backed design marketplace Sribu
Sribu connects companies who are looking for branding and marketing solutions to freelancers that can answer these needs; It has helped 15K+ small businesses and corporations, including Telkomsel, Pertamina, and Baidu.

TipTip raises US$10M in seed funding
Investors are Vertex Ventures, EMTEK, SMDV, and family offices; TipTip enables content creators to monetise through personalised video sessions, the sale of premium digital contents, and direct interaction opportunities with their followers.

Akulaku raises US$10M in debt funding from Lend East
The firm plans to use the funds to build and enhance its lending portfolio in its key operating markets in Indonesia, the Philippines, and Thailand; The startup offers services including digital banking, consumer credit, digital investment, and insurance brokerage

The Assembly Place (TAP) to buy co-living peer Libeto
The acquisition would involve Libeto Commontown’s head leases and sub-leases totaling around 120 rooms; TAP said the move will increase its presence in Singapore to over 600 operational co-living rooms, with another 200 in the pipeline set to launch by May.

YC doubles the number of SEA startups in latest cohort
It has unveiled the 33 SEA startups that have been included in its latest winter 2022 cohort; The number is almost doubled from the last batch and amounted to around 8% of the 414 startups that were funded by the accelerator in this cohort.

Singapore startup EcoWorth Tech converts highly contaminated waste into reusable products
EcoWorth commercialises Carbon Fibre Aerogel, a highly absorbent material that is non-toxic, natural, and recyclable; It’s now developing solutions to efficiently remove oil from maritime applications and various spills on land and in lakes and ports.

Vietnamese healthtech startup Med247 raises US$4.5M funding
Investors include Altara Ventures, Pavilion Capital, MiRXES, East Ventures, and KK Fund; Med247 employs remote photoplethysmography technology coupled with AI predictive analytics to screen patients’ vital signs through their smartphone cameras.

JiPay raises US$1.3M seed funding to build a fintech platform for migrant domestic workers
Investors are East Ventures, SHL Capital, and Manila Angel Network; JiPay aims to build trust between families and their domestic helpers and offers an app for employers to track household expenses.

Why Quest Ventures believes that the human-centricity of ESG investing will be more apparent
As the newly appointed Head of ESG for Quest Ventures, Michelle Ng, explains how the firm aims to double down its effort in this matter.

—

The post Ecosystem Roundup: OpenSea forms US$110M Web3 fund, GoTo begins US$1.1B IPO process, Pace buys Rely appeared first on e27.