Investors are placing big bets on Southeast Asia’s burgeoning startup scene! This week saw funding flow across various sectors, highlighting the region’s diverse innovation.
Singapore’s Marketnode, aiming to build a multi-asset digital marketplace, secured backing from giants like Temasek and HSBC. Proptech platform WeSale in Vietnam is leveraging AI and automation to streamline real estate transactions.
In the Philippines, Beppo is making accounting and tax compliance a breeze for businesses with its AI-powered solution.
Meanwhile, India is witnessing a surge in electric vehicle (EV) startups. Zypp Electric’s US$15 million Series C funding fuels its mission for carbon-free last-mile delivery, while Turno, an EV financing and distribution platform, secured US$6 million to expand its reach.
This funding spree reflects the immense potential of Southeast Asia’s startups to disrupt industries and create a more sustainable future.
Marketnode (Singapore)
Marketnode is a digital market infrastructure operator aiming to develop a multi-asset ecosystem starting in Asia Pacific. Since 2020, HSBC and Marketnode have been developing a digital market infrastructure that spans credit, funds and structured products.
Funding: Undisclosed
Stage: Series A
Investors: Temasek and HSBC
WeSale (Vietnam)
WeSale is a proptech platform connecting partners, individuals and organisations to project owners and developers. By applying WeCRM technology, real estate transaction tools, and generative AI, WeSale aims to improve the quality of consulting and transparent and effective real estate transactions for members, brokers, business partners and project development units.
Funding: Undisclosed
Round: Seed
Investor: Hitseries Capital (lead).
Beppo (Philippines)
Beppo automates accounting and tax compliance for Filipino businesses and the self-employed. Its AI technology uses OCR (optical character recognition) software to capture data from receipts and categorise transactions, saving time and reducing errors. JuanTax’s acquisition will help Beppo become a one-stop shop for Filipino businesses to manage their finances and navigate tax filing requirements.
Funding: Undisclosed
Round: Pre-seed
Investor: Wavemaker Partners.
Zypp Electric (India)
Founded in 2017 by Akash Gupta and Rashi Agarwal, Zypp is an EV-as-a-service platform aiming to make India carbon-free by leveraging EVs and EV-based technology for sustainable last-mile logistics. Its business model prioritises carbon-free delivery services for local merchants, e-commerce giants, and delivery executives, reducing both delivery costs and pollution.
Funding: US$15 million
Round: Series C
Investors: ENEOS, 9unicorns, IAN fund, venture catalysts, and WFC.
Turno (India)
Set up in April 2022 by former Zoomcar’s C-level executives Hemanth Aluru and Sudhindra Reddy, Bengaluru-based Turno offers financing solutions to SMEs, distributors, logistics firms, and e-commerce operators that plan to buy commercial three-wheeler electric vehicles (EVs).
Buyers can access an array of top original equipment manufacturer (OEM) brands, EV models, and financing solutions on its EV sales platform, which features both online and physical stores.
Funding: US$6 million
Round: Series A+
Investors: B Capital, British International Investment (BII), Quona Capital, and Stellaris Venture Partners.
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