Ecosystem Roundup: GrowSari nets US$77.5M Series C, VNG forays into metaverse, Shopee winds up India biz

GrowSari announces a US$77.5M Series C
Investors include IFC, KKR, and Pavilion Capital; GrowSari aims to help sari-sari store owners transform into comprehensive service hubs for the Philippine grassroots communities.

‘Blockchain could’ve eased the lives of many people fleeing the Russia-Ukraine war’
At the Binance Blockchain Week in Dubai, Global Policy House CEO Michelle Chivunga said blockchain is all about people and can be used to support people during various calamities.

VNG enters the metaverse with a bet on Korean gaming unicorn Haegin
The US$81M Series B round was also joined by Kakao Games and China’s NetEase; Haegin owns the titles such as Play Together, Homerun Clash, and Extreme Golf; The first listed game – which was built on the metaverse – has seen 80M global cumulative downloads.

Indonesian fintech Amartha in talks to buy Shariah bank
The talks to acquire Bank Victoria Syariah comes as the fintech is in the process of raising pre-IPO funding round; The bank had total assets of US$101M as of end-February, according to the bank’s website.

Shopee shutters India business
The exit comes as the platform is looking to reduce its burn rate and shut newer markets that are not “slam dunk” wins; A source said the company’s user base in India had been growing fast before its decision to discontinue operations.

E-sports startup Ampverse raises US$12M Series A
Investors include Falcon Capital, Vulpes and Gandel Invest; The startup will use the new funds to expand into Indonesia and the Philippines, acquire new e-sports teams and scale its play-to-earn business unit.

Quick commerce startup BeepBeep! secures US$6M seed led by Genesia Ventures
It will establish a network of warehouses to enable a 15-min island-wide delivery reach in Singapore, and also selected cities in Malaysia and Vietnam; BeepBeep! will increase its number of warehouses by up to 10x across three countries by the end-2022.

Indonesia Impact Fund (IIF) invests in Cakap
Cakap is an edutecch company that offers non-formal education in Indonesia that mainly focuses on foreign language and vocational courses; A unit of Mandiri Capital, IIF focuses on early-stage startups that are aligned with United Nations’s Sustainable Development Goals.

Warehouse automation platform Woodtrees secures US$500K from Max Capital
It will use the funds for expansion into Thailand, Vietnam, Indonesia, Philippines, Singapore, and China; WoodTrees designs develops and delivers professional automation solutions for warehouses and distribution centres.

Ex-iProperty CEO Georg Chmiel backs Malaysian HR tech firm BrioHR
BrioHR is a cloud-based human resources management platform that offers services ranging from recruitment to payroll for SMEs in Southeast Asia; A YC graduate, BrioHR raised US$1.3M in 2021 from GFC, East Ventures, and others.

NUS wearable tech spinoff Microtube Technologies gets US$808K seed funding
The lead investor is Oriza Greenwillow Technology Fund; Microtube creates stretchable and “imperceptible” sensors that serve as wearable controllers for digital interactions; It is eyeing use cases in gaming, fitness, healthcare, training, and virtual reality interactions.

Kakao Gift operator invests in Indonesian voucher startup Aldmic Technology
The startup offers vouchers that can be purchased by companies and distributed to their employees as part of a loyalty program; It helped develop Samsung Gifts Indonesia, the local rewards programme of the electronics giant.

I spent nearly 5 years at a fast-growing startup. Here’s what I learned
Focus on finding great mentors (and sponsors) who are invested in your growth; Don’t get too hung up on how each piece contributes to your specific career path; instead, learn a wide breadth of skills if given the opportunity.

—

The post Ecosystem Roundup: GrowSari nets US$77.5M Series C, VNG forays into metaverse, Shopee winds up India biz appeared first on e27.