Morning News Roundup: Fashion tech VC firm Lyra Ventures launches new fund

Fashion tech VC firm Lyra Ventures announces new Japan-backed global fund

Fashion tech VC firm Lyra Ventures, which was formerly known as Start Today Ventures, announced the launch of their second fund with investment from TSI Holdings, one of Japan’s largest fashion conglomerates.

This announcement follows Lyra Ventures’ recent investment into the US retail platform Neighborhood Goods, a move that has been heralded as “the reinvention of the department store.”

The investment from TSI Holdings complements Lyra Ventures’ existing partnership with ZOZO Co. Ltd, Japanese fashion e-commerce operator.

The new fund, Lyra Ventures said, allows it to focus exclusively on global opportunities. In particular, the experience and international operating expertise of Lyra Ventures’ team and advisors in providing a strategic platform for companies that are ready to expand to Japan and Southeast Asia.

Lyra Ventures’ earlier investments include Syte AI —a visual AI technology provider whose clients include Farfetch, Marks & Spencer, Boohoo, and ZOZO, and UK-based customer engagement SaaS solution Mercaux.

Indonesian waste management startup Waste4Change gets funding from three VCs

Bekasi-based waste management startup Waste4Change received an undisclosed amount of funding from Agaeti Ventures, East Ventures, and SMDV, Tech In Asia reported.

Waste4Change said it plans to use the funding to increase its waste management capacity, targeting to contain at least 2,000 tonnes of waste per day in 2024. The startup also plans to launch an integrated smart city management platform in collaboration with other waste management system provider Sampah Muda from Semarang.

Waste4Change was established in 2014 by Environmental Engineering graduate Mohamad Bijaksana Junerosano. In addition to offering waste collection and management service, the startup also offers consultancy, education, and environmental campaign.

Global student support platform Zookal raises US$9.8M to set foot in Southeast Asia

Australian edutech startup Zookal, which provides a variety of services and products, announces that it has raised US$9.8 million in equity funding, looking to accelerate the company’s growth in Southeast Asia.

Existing investors Koh Boon Hwee (former Chairman of Singapore Airlines and technology investor) and Bernard Sabrier (Chairman of USD$26 billion funds, Unigestion) led the round with participation from Wee Hur Holdings Ltd, a publicly listed Singaporean construction and property development company that has a portfolio of purpose-built student accommodation.

Also Read: Zookal raises US$550K for student textbook rental portal, eyes SEA

The capital raised will support the company’s growth in Southeast Asia by allowing Zookal to triple the size of its engineering team and make strategic hires. The hiring includes its recently appointed VP of engineering Manuel Silva, who was the former director of engineering and consumer product of The Iconic.

Ahmed Haider, Co-founder, and CEO of Zookal said, “Southeast Asia is a very attractive market with our digital users growing to 300,000 in just eight months. Our goal is to reach 10 million students in the coming years as Asia comes online by making education more affordable and accessible to them.”

Moovaz secures Series A funding from supply chain company YCH Group’s venture arm SCAngels

Moovaz, Singapore-based relocation solution startup, announces an undisclosed amount of Series A funding from YCH Group, the supply chain solutions company, through its corporate venture arm SCAngels.

According to Tech In Asia, Moovaz said it will use the funding to develop features that will simplify processes in the global relocation industry.

Went online just a year ago, Moovaz works with its global network of more than 2,000 certified moving service providers as partners.

As a co-investment partner of SCAngels, SGInnovate will also contribute to the funding.

Medtech startup Cardiotrack gets funding from Singapore-based Frontline Strategy Funds

Singapore-based private equity platform Frontline Strategy Funds announces that it has led an investment in the Singapore-headquartered medtech startup Cardiotrack, along with other angel investors. According to an article by YourStory, Cardiotrack will use the funds to grow its customer base in India and international markets.

Cardiotrack was founded by Avin Agarwal and Ashim Roy. It aims to bridge the gap between healthcare providers and chronic patients for affordable access to healthcare and better disease management. The platform has an end-to-end disease management platform with diagnostic-grade medical devices connected to the mobile, cloud, and AI technology.

It includes 12-channel portable ECG and remote medical consultation services through its network of trained and certified medical professionals. In more than 16 countries where it has presences, it offers portable medical devices, report interpretation, and medical consultation for home screening, corporate wellness screening, and health camps to support chronic patients anywhere and anytime.

–

Image Credit: Lyra Ventures

 

The post Morning News Roundup: Fashion tech VC firm Lyra Ventures launches new fund appeared first on e27.