Since this is a relatively short week, there’s is a slight drop in the number of news articles published. Advance Intelligence Group’s US$80M raise and Integra Partners’s Fund II close were the major developments of the week.
Have a look at the news items we published in the first week of May.
Mimin gets Salim Group’s backing
Mimin, an Indonesian-based startup offering chat commerce solutions and virtual assistant services for businesses, secured undisclosed seed funding from Salim Group-owned Otto Digital.
Mimin will use the fresh funding to serve micro, small, and medium enterprises (MSMEs) and online sellers and strengthen its technology infrastructure and order management software. Otto Digital has a prominent MSME community and networks across Indonesia.
Integra Partners closes US$90M Fund II
Singapore-based early-stage venture fintech investor Integra Partners announced the final close of its second fund at US$90 million. This brings the total committed capital managed by the firm to over US$140 million.
Integra Partners Fund II is anchored by global institutional investors, including Germany’s development finance institution DEG, the US International Development Finance Corporation, the Norwegian Investment Fund for Developing Countries Norfund, European alternative asset management group Tikehau Capital, and includes participation from strategic corporates and family offices globally.
The new fund targets fintech, insurtech and digital health opportunities that leverage synergies across sectors to drive financial and healthcare inclusion in Southeast and South Asia. It invests in pre-Series A to Series B stages.
Advance Intelligence nets US$80M
Singapore-based AI company Advance Intelligence Group announced it has raised US$80 million from an investor consortium led by existing investors Warburg Pincus and Northstar Group.
The fundraising follows its previous Series D funding round of over US$400 million in 2021.
In total, the company has raised over US$700 million and has secured capital in excess of US$1 billion supporting its credit book.
Jefferson Chen, Co-Founder, Group Chairman and CEO of Advance Intelligence Group, said in a statement: “This new investment will help accelerate our programme of using AI technology to streamline consumer transactions and enable greater and fairer access to credit and financial products and services.”
Coldspace raises US$3.8M funding
Coldspace, an Indonesian integrated cold chain solutions provider, completed a US$3.8 million seed funding round led by Intudo Ventures, PT Adi Sarana Armada Tbk (ASSA) via its subsidiary PT Adi Sarana Investindo (ASI), and Triputra Group with participation from MKA dan ITS.
With this funding, Coldspace plans to expand its service capacity, including greater capacity for cold storage, reefer trucks, fulfilment, and geographic expansions; launch a suite of management solutions for customers to help manage and track products, including its Warehouse Management System (WMS) and Transportation Management System (TMS) and provided to customers as a free value-add service to perform analytics, offer training and improve service quality.
HOMA2U secures US$875K pre-Series A funding
Malaysia-based marketplace platform for renovation and interior design materials HOMA2U bagged MYR3.87 million (US$875,000) in a pre-Series A funding round.
The round was led by Quest Ventures Asia Fund II and included both Worldwide Management Solution and Qhazanah Sabah Berhad.
This is Quest Ventures Asia Fund II’s second cheque for HOMA2U.
The fund will fuel HOMA2U’s regional expansion plans, accelerate product development and promote a circular economy within the renovation and interior design industry.
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