Singaporean logistics startup Moovaz raises Series A from SCangels, SGInnovate
Singapore-based logistics-tech startup Moovaz, has raised an undisclosed sum in Series A funding from Supply Chain Angels (SCAngels), the corporate venture arm of YCH Group, and co-investment partner SGInnovate.
The startup aims to use the funds to transform the global relocation industry with the support from its investors.
“As a leading corporate venture fund in Singapore, SCAngels stages the right conditions so startups can get into an iterative cycle of improvement and disruptive innovation. With their collaboration with SCAngels, they are given an advantage over their competitors in solving traditional challenges such as under-utilisation of capacities and information asymmetry, which have constantly plagued the relocation industry,” said James Ong, Partner of SCAngels and Chief Investment Officer of YCH Group.
As per Crunchbase, the company has so far raised a total of US$1 million.
Gaming startup PotatoPlay raises US$500K in new funding from PlayVentures
PotatoPlay, a gaming startup headquartered in Singapore, announced today it has secured US$500,000 in its first funding round, led by Play Ventures, an early-stage VC fund, according to Deal Street Asia.
The fresh funds will be used for marketing and operations. It also has partnerships plans in China, South Korea and Vietnam.
“Asian Games are dominating global top charts – more than half of the top 10 revenue grossing mobile games are made by established Asian developers. But startup studios in Asia face steep challenges in marketing and monetising them, even in their home countries,” said Potato Play CEO Vincent Low.
Also Read: Morning News Roundup: Oriente raises US$20M, Grab Ventures Velocity launches 3rd batch
Some of PotatoPlay’s top titles include Merge Quest, Crossing Gaps and Pocket Racing. Other than that, the company has deployed over 20 games in less than a year.
RTP Global announces US$650M to invest in early-stage tech companies in Southeast Asia
RTP Global, an early-stage VC firm based in Russia, has unveiled a US$650 million fund to continue investments in early-stage tech companies, according to Pymnts.
Founded by Leonid Boguslavsky, RTP Global reportedly intends to invest in early-stage technology firms in fintech, Artificial Intelligence and SaaS.
Also Read: Mastercard to lead Series B funding in Indonesian fintech company Digiasia
“Our investment focus is on early-stage technology companies,” said Boguslavsky. “The core is Series A, but we also consider late-Seed companies and Series B. The ticket size varies according to geography, though our initial ticket is usually in the US$2 million to US$7 million range.”
The VC firm is currently focussed toward startups in Europe, North America, Southeast Asia and India.
Leap Finance bags US$5.5 million to continue offering students financial services to study abroad
Indian fintech startup Leap Finance today received US$5.5 million in seed funding from Sequoia India according to Deal Street Asia.
The investment amount will be used by the startup to further develop the platform, hire for technology and capital markets roles in Bangalore and San Francisco, respectively, aiming to finance more than 1,000 students in the upcoming fall season.
“Indian students studying abroad today spend $15 billion annually and we estimate an annual credit need for more than $5 billion against this. This attractiveness of the market, strong founder-market fit and Leap’s mission-driven team is what led to our belief in an early partnership with them,” Ashish Agrawal, Principal, Sequoia Capital India LLP said.
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