99 Group CEO Darius Cheung
Indian startup fundraising falls for third quarter to US$7.6B in Q2
The funding dropped almost 38% sequentially in Q2, from US$12B in Q1 2022; At 383, the deal volume was also the lowest since Q3 2021; The April-June period also saw massive layoffs at Byju’s, Ola, Unacademy, Vedantu, and Cars24.
Singapore’s 99 Group raises US$37M in first close of Series C
The lead investor is Gaw Capital Partners; The online property platform will raise an additional US$15M for the round in the coming months; Once completed, the deal will push 99 Group’s total funding to date to US$80M+.
How KKday saved for a rainy day when many travel startups called it a day during COVID-19
‘KKday reduced the marketing spend while acquiring new customers by developing new products, significantly lowering acquisition costs and more efficient customer engagement’.
IFC, French firm Proparco back impact investor Circulate Capital’s ocean fund
This brings Circulate Capital Ocean Fund I-B’s total commitments to US$53M and comes 7+ months after its US$25M second close; CCOF I-B invests in companies across the plastic recycling and waste-management value chains.
Carousell buys Indonesian recommerce firm Laku6 for US$25M
The deal was supported by the Singapore-based firm’s investor Heliconia Capital; The acquisition aims to serve the rapidly growing market for preowned phones and support sustainability in electronics.
Thai financial marketplace Rabbit Care raises Series C
Investors include Winter Capital and local media conglomerate VGI; The Bangkok-based fintech firm is a marketplace for insurance products, covering motor, health, life, travel, and corporate insurance.
Biofourmis raises US$20M from Intel Capital
This is the healthtech unicorn’s Series D round announced in April when it raised US$300M led by General Atlantic; The Singapore-founded company enables remote disease management using medical-grade wearables.
SuperAtom raises US$22M to expand its consumer financing platform to LatAm
The lead investor is Nue 3 Capital; SuperAtom has developed UangMe, a credit platform providing access to low-cost financing in Indonesia; In addition, SuperAtom also offers a Buy Now Pay Later (BNPL) feature.
East Ventures-backed Qapita buys Indian ESOP management firm
The combined entity will also manage more than US$12 billion in employee stock option plans; Its customer base in India and Southeast Asia will grow to more than 1,200 customers.
Dash Living buys Japanese proptech firm intheHood Hospitality
As part of the deal, which is a share-swap-based M&A agreement, Dash Living will manage over 100 units of co-living spaces in Tokyo; The firm will have a total of over 1,800 units in Asia Pacific.
AirAsia to explore air taxis in Malaysia with UK’s Skyports
Initial assessments will prioritize Kuala Lumpur; While AirAsia brings its aviation expertise to the table, Skyports has extensive experience creating electric vertical takeoff and landing gear for aircraft.
EDB earmarks US$14.5M for corporate venture programme
Dubbed Corporate Venture Launchpad 2.0, the programme aims to support large corporations to expand into new ventures such as those in sustainability, agritech, fintech, senior living, and the metaverse over the next two years.
Stripe, Saison Capital to launch SEA-focused insights programme
Singapore-based Saison Capital will directly connect founders and operators from its company portfolio with engineering, product, public policy, recruiting, and sales leaders at Stripe.
Nas Academy nets US$12M in fresh funding
Investors include Pitango, BECO Capital, FTX, and HOF Capital; Nas Academy said it caters to students from over 110 countries; In 2021, it announced that it will expand its team to 1,000 people in the next five years.
Singapore’s Mighty Bear Games raises US$10M funding
Investors include Framework Ventures, Mirana, and Polygon; Mighty Bear will be using its fresh funds to launch its blockchain arm, which will develop triple-A Web3 games.
Filipino mobile ERP firm Packworks nets US$2M seed funding
Lead investors are Fast Group and CVC Capital Partners; Packworks aims to digitalise sari-sari stores by offering inventory, accounts, and data management services.
AC Ventures, Alpha JWC co-lead US$3.8M round of Indonesia’s Ideal
Ideal is a digital mortgage platform that helps people apply for property mortgages at different banks; It takes commissions from banks and property developers for every successful loan application.
Omni HR raises US$2.4M in pre-seed money to digitise employee management in SEA
Lead investors are Alpha JWC Ventures and Picus Capital; Omni HR enables firms to digitise employee records, automate administrative tasks, and interact employee data across different systems.
Robinsons Retail co-leads Filipino Q-commerce startup DART’s US$1.3M round
DART, which currently serves Makati and Mandaluyong, will use the funds to expand to new cities in the Philippines; The Q-commerce firm has also entered into an operational and supply partnership with Robinsons Supermarket.
Chope invests US$720K in F&B digital payments provider Getz Group
The Getz deal comes after local hawker SaaS and delivery vendor WhyQ raised US$360K from Chope as part of its Series A2 in November last year; The deal comes after local hawker SaaS and delivery vendor WhyQ raised US$360K from Chope.
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