Southeast Asia witnessed many investment deals this week, in addition to Monk’s Hill closing of its second fund and Betterplace’s acquisition of Troopers.
Here is a quick summary of each of the news stories e27 published in the past five days.
Oyika scores Series B financing
Singapore-based Oyika, a battery swapping service for electric vehicles, has secured Series B funding, a TechInAsia report said citing Venturecap Insights. BPIN Investment led the round. BPIN is the investment arm of Thailand’s Banpu Infernegy.
Oyika works with existing e-motorbike/scooter manufacturers and transforms their internal combustion engine models into smart bikes by bundling them with its portable swap batteries, network of swap stations and mobile app.
Betterdata raises US$1.65M
Singapore-based programmable synthetic data company Betterdata raised an over-subscribed seed investment round of US$1.65 million led by Asia-Pacific-based early-stage VC firm Investible. Franklin Templeton, Xcel Next, Singapore University of Technology and Design, Bon Auxilium, Tenity, Plug and Play, and Entrepreneur First also joined the round.
Betterdata will use the new funding to publicly launch Betterdata’s product and enhance its technology stack, including support for single-table, multi-table, and time-series datasets.
Accredify closes US$7M Series A
Accredify, a verifiable technology solutions provider in Singapore, closed its ongoing Series A funding round at US$7 million. iGlobe Partners and SIG Venture Capital co-led the round with participation from returning investors Pavilion Capital and Qualgro.
The money will be used to expand its regional presence across the Asia Pacific.
Earth VC invests in Israeli startup
Singapore-based impact investor Earth VC joined the US5 million Series A investment round of Israeli intelligent traffic management startup ITC.
Other investors of this round are Champel Capital and Mobilitech Capital.
The startup will use the capital to expand into Southeast Asia.
ITC develops cutting-edge computer vision and AI/ML algorithms to predict traffic patterns and prevent traffic congestion before it accumulates. Through measurement, prediction, and mitigation, it also enforces municipal traffic policies, such as public transport, bicycle, and pedestrian prioritization.
Cortical Labs closes US$10M round
Singapore- and Australia-based Cortical Labs, which develops a new class of artificial intelligence using human neurons, completed a US$10 million investment round.
Led by Hong Kong-based Horizons Ventures, the round also saw participation from LifeX Ventures, Blackbird Ventures, In-Q-Tel, and Radar Ventures.
Cortical Labs will use the money to accelerate the commercialisation of its patented Biological Intelligence Operating System (biOS) and fulfil pre-orders.
Monkʼs Hill closes US$200M Fund II
Singapore-based early-stage VC firm Monk’s Hill Ventures made the final close of its third investment fund at US$200 million. The firm was originally seeking to raise US$150 million for this fund, according to SEC filings.
The names of the Limited Partners haven’t been disclosed. As per a statement, they are predominantly institutional investors including foundations and endowments, sovereign funds and several prominent family offices.
Mito Health raises US$1.3M
Singapore-based healthtech startup Mito Health secured S$1.7 million (US$1.3 million) in seed investment. Forge Ventures led the round, with participation from angels, including the founders and executives of ShopBack, Carousell, PatSnap, Glints, SingLife, Rainforest, ErgoTune and OhMyHome.
Mito aims to serve the health-conscious demographic and individuals looking for strategies to maintain their health beyond annual checkups and supplements. The initial focus is Singapore, with plans to expand regionally into other developed markets.
BetterPlace acquires Troopers
BetterPlace, a SaaS-based frontline workforce management platform in India, announced the acquisition of Malaysia-based Troopers, a provider of on-demand, pre-screened, part-time frontline workers to enterprises.
The transaction details remain undisclosed.
The deal will allow BetterPlace to accelerate its presence and establish a stronger foothold in Southeast Asia. It will integrate Troopers’s automated gig matching and rostering features into BetterPlace’s SaaS platform.
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