Anthill Ventures, others invest US$1M in Indian travel-tech startup QuaQua
QuaQua, an India-based platform that delivers immersive virtual travel experiences, has raised US$1M funding from Singapore-based VC firm Anthill Ventures and other anonymous investors.
The company will use the funds to enhance its product and build an AI and content-driven platform.
Founded in 2016, the startup allows people to experience travel from the comfort of their homes. It aims to “deliver real and immersive travel experiences through storytelling, that inspire people to travel”.
Currently, it claims to have a user base of 2.5 million from all over the globe.
Singapore ranks 16 in global startup ecosystems
Singapore has re-entered the best 20 in startup ecosystems globally, jumping five spots to clinch the 16th place out of 100 countries, according to the latest Startup Ecosystems Rankings report published by startup research company StartupBlink.
In APAC, Singapore ranks 3rd, right behind China and Australia.
As per a Singapore Business Review report, the island state’s global status as a fintech hub and highly supportive public sector have been regarded as the primary reason for its higher ranking.
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“Singapore’s public sector is highly supportive of its startup ecosystem, and considering the country’s stability and infrastructure, it is also becoming a regional entry point for expansion to the Asian market, as startups like Grab demonstrate,” the report said.
Singtel Innov8, others invest US$52M in American security platform Synack
American crowdsourced security platform Synack announced today that it has raised US$52 million in funding from Singtel Innov8, the VC arm of Singtel Group, according to DealStreetAsia.
The round was co-led by B Capital Group and C5 Capital, with participation from GGV Capital, GV (formerly Google Ventures), Hewlett Packard Enterprise, Icon Ventures, Intel Capital, Kleiner Perkins and Microsoft’s venture fund M12.
The new funding will be used for global expansion and product enhancement, the company said in a statement.
India’s LetsTransport raises US$1.3M from Blacksoil
LetsTransport, a logistics solution company which fulfils intra-city last-mile deliveries in India, has secured US$1.3 million in funding from Blacksoil Capital.
This follows an investment of the same amount in the company in November 2018.
LetsTransport provides urban logistics solutions to enterprises by offering tech-enabled intra-regional transportation services. It enables enterprise clients to book trucks and manage bookings through their mobile app, call and website.
It works across industry sectors like organized retail, FMCG and e-commerce, distribution and 3PL companies. Some of its clients include Amazon, Flipkart, Bisleri, Vishal Mega Mart, Future Supply Chain, Coca-Cola, Delhivery, and Udaan.
The startup is present in 15 cities in India and a registered trucker supply of 60,000-plus drivers.
Blacksoil is a new age diversified alternate credit platform for high growth startups, SMEs and real estate segment.
Malaysia Debt Ventures receives 49 applications for its startup funding relief initiative
Malaysia Debt Ventures (MDV) has announced the closing of its first application window for the “Technology StartUps Funding Relief Facility (TSFRF)”, according to DigitalNewsAsia.
The initiative received 49 applications from startups within a diverse number of sectors.
TSFRF is a programme that aims to provide immediate and affordable cash flow support for VCs- or government agency-backed technology startups impacted by the global health pandemic.
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Image Credit: Eva Darron
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