The most notable fact about later stage funding rounds in May is that there are more funding announcements being made compared to the previous months. While we saw eight funding announcements in this stage in April, this month we saw 11 later stage funding announcements.
One of the most notable funding announcements was the Series D funding round made by Ninja Van, one of the more prominent names in the logistics tech scene.
Fintech also continued to dominate with investments announced by companies such as Nium, Validus, Digio, CXA Group, and KoinWorks.
Kopi Kenangan, which had attracted the attention of prominent global investors, returned with another announcement of its Series B.
Ninja Van
Funding: US$279M in Series D
Investor(s): Geopost, B Capital Group, Carmenta Capital, Zamrud Sovereign Wealth Fund, Bangkok Bank, Intouch, Grab, Monk’s Hill Ventures, Golden Gate Ventures
This funding round followed Series C round in January 2018, led by international parcel delivery firm DPD Group.
RWDC Industries
Funding: US$133M “two-stage” Series B
Investor(s): Vickers Venture Partners, Flint Hills Resources, CPV/CAP Pensionskasse Coop, International SA, Eversource Retirement Plan Master Trust, WI Harper Group
This comes exactly a year after RWDC raised US$22 million in a Series A round, led Vickers and US-based Eversource Retirement Plan Master Trust.
Also Read: Morning News Roundup: Tigerhall, Growthwell Group raise funding rounds
Nium
Funding: Undisclosed Series C
Investor(s): BRI Ventures, VISA
A part of the money raised will also be used to “tuck-in acquisitions” and growth in markets such as Europe, India, the UK and the US.
Validus
Funding: US$20M in ongoing Series B
Investor(s): Vertex Growth Fund, K3 Venture Partners, FMO, Vertex Ventures, Openspace Ventures, Siam Cement Group, VinaCapital Ventures
The new capital will be used by the company to invest in technology and data capabilities to further improve the use of its AI and machine learning as well as to establish a strong presence in the ASEAN market. It has also revealed plans to fund its new upcoming venture in Thailand which has been slated for Q4 2020.
Digio
Funding: US$4M in Series B
Investor(s): Beacon Venture Capital, PCC, Private Equity Trust for SME Growing Together 2
Digio said that the funding will enable it to expand capacity to provide innovative payment technology for financial institutions and strengthen Thailand’s digital payment infrastructure.
Kopi Kenangan
Funding: US$109M in Series B
Investor(s): Sequoia Capital, B Capital, Horizons Ventures, Verlinvest, Kunlun, Sofina, Alpha JWC Ventures
The company plans on using this round of funding to strengthen its operations in Indonesia, launch new products, invest in technology to better serve its customers, and protect employees amid the COVID-19 pandemic.
CXA Group
Funding: Undisclosed
Investor(s): Humanica, HSBC Life
Humanica has doubled its investment in CXA as a continuation of last year’s convertible note bridge financing.
Dekoruma
Funding: Undisclosed Pre-Series C
Investor(s): InterVest Star SEA Growth Fund 1
Co-founder Dimas Harry Priawan said Dekoruma will use the funding to develop its interior design and project management app SOMA.
Also Read: Vietnam’s podcast platform Voiz FM snags seed funding from 500 Startups
Spark Systems
Funding: US$15M in Series B
Investor(s): Citi, HSBC, Goldman Sachs, OSK Ventures, Vickers Ventures, Dymon Asia Ventures, Dymon Asia Capital, Jubilee Capital, FengHe
The company said that the funding would be used to enhance its current platform, develop analytics, advance its team training and build rapid modules that can onboard clients quickly.
KoinWorks
Funding: US$10M
Investor(s): Lendable
This round comes just over a month after KoinWorks raised US$20 million in debt and equity investment from Quona Capital.
Endofotonics
Funding: US$12M in Series B
Investor(s): Singapore Medical Group (SMG), Tony Tan Choon Keat, Dr Beng Teck Liang
Endofotonics will use the funding to commercialise its early gastric cancer detection system within Asia and grow its cancer detection technology coverage to other organs. It also plans to launch its system in Europe in 2021.
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