In this week’s Southeast Asia startup news, Singapore-based Earth VC invests in Finnish earth observation startup Kuva Space, leveraging a €16.6 (US$17.8) million) million funding round.
Meanwhile, Singtel Group’s Future Makers 2023 recognises innovative tech solutions addressing social and environmental issues, awarding grants to startups like Virtual Psychologist and GEPP.
Thailand’s AgBioTech Incubation introduces ten agtech startups after a rigorous incubation program. Indonesian EV startup Volta secures strategic investment for infrastructure expansion, and Singapore’s Perfect Nature receives S$1 million in seed funding for its smart wearable breast pumps.
Additionally, Authentick, the creator of Authentickator, raises US$4 million in a seed round, and Singapore’s BondbloX secures US$6 million in a Series B round for digitalising bond markets.
Earth VC backs Finnish startup Kuva Space
Singapore-based global impact investor Earth VC participated in Finnish earth observation company Kuva Space‘s €16.6 (US$17.8) million funding round.
Kuva Space’s commercial microsatellite, equipped with a patented hyperspectral camera, can distinguish nearly any material on the earth and its condition through its distinct spectral signature. This means the company can monitor crop types, plant health and biomass, biodiversity, soil conditions, seaweed growth, algae blooms, and marine chemical pollutants at scale.
By leveraging its AI-driven analytics platform, Kuva Space automatically transforms the collected data into actionable insights, empowering customers to monitor, identify, and forecast changes and their impact in near real-time.
Singtel unviels Future Makers 2023
Singtel Group Future Makers (SGFM) 2023 awarded six startups for their innovative technology solutions addressing social and environmental issues, such as eldercare, waste management, and mental health.
The top awards, Platinum and Gold, which include US$40,000 and US$30,000 in grants, went to Virtual Psychologist and GEPP, respectively.
All six winners will receive support from Singtel Group through mentorship, access to a customer base of over 770 million mobile users, and grants of up to US$40,000 to undertake business development regionally.
The startups are Virtual Psychologist, GEPP, SoundEye, Tictag, MyEco, and Aqilliz.
AgBioTech Incubation unveils 10 Thai startups
Thailand’s AgBioTech Incubation 2023 unveiled the startups showcasing on the demo day.
The programme was organised by Thailand’s National Innovation Agency (NIA) in collaboration with the Maejo Agriculture and Food Innovation District, the Institute of Agricultural Innovation for Industry, the Federation of Thai Industries, and the SynBio Consortium.
The ten agtech startups embarked on a comprehensive incubation programme designed to cultivate their expertise in various agricultural technology domains over a rigorous four-month training and demonstration period. The primary objective was to validate conceptual ideas and product offerings, thereby addressing gaps in consumption guidelines.
The companies are SoMush, MYCO GARDEN HOME, MaxBoost, PurePlus, Sentech Plus, Bio Solution, Gen-A-Tech, PLANTBIO, EverFresh, and Happy Plant.
Ev maker Volta raises funding
Indonesia-based electric vehicle startup PT Energi Selalu Baru or Volta raised an undisclosed strategic investment round from Twin Towers Ventures (TTV), which is the investment arm of PETRONAS Ventures, and Rigel Star Fund LP.
Abraham Theofilus, Managing Director of NFC Indonesia, the parent company of Volta, said in a press statement that the company plans to use the funding to support the expansion of its infrastructure, accelerate product development, and strengthen market penetration.
Apart from the investment, TTV and Rigel also provided Volta with the expertise and network to help actualise their plans.
PT NFC Indonesia Tbk (IDX: NFCX) is a subsidiary of Grup MCASH, one of the earliest Indonesian tech companies listed on the Indonesia Stock Exchange (IDX).
Perfect Nature bags US$738K seed funding
Singapore-based healthcare and lifestyle company Perfect Nature secured S$1 million (US$738,000) in a seed funding round for its subsidiary brand Snuugo which produces smart wearable breast pumps.
The funding round was led by angel investors Peter Tan, founder and former CEO of Fischer Tech Ltd, and Willy Koh, founder of Racer Technology Pte Ltd.
Perfect Nature will officially launch Snuugo in Singapore at the Babyland event on December 1-3, followed by expansion into Southeast Asia in mid-2024 and China. The company aims to create a complete ecosystem of nursing solutions, offering mothers freedom and versatility throughout their breastfeeding journey.
Authentick attracts US$4M
Authentick, the creator of Authentickator, a wallet-free platform for easy browsing, purchasing, and authentication of digital collectibles, received a US$4 million seed round, with Menyala as the lead investor.
The fresh funds will be used to execute the company’s roadmap, which encompasses expanding the marketplace, fostering collaborations with brands and creators, enhancing services, and advancing the product roadmap.
Authentickator also announced partnerships with Southeast Asia’s leading e-commerce platform Lazada, social media giant TikTok, and Shopify to enable select users to easily purchase digital collectibles directly from each platform using traditional payment methods.
BondbloX rakes in US$6M Series B
Singapore-based fintech firm BondbloX, specialising in digitising bond markets, bagged US$6 million in a Series B round.
Beacon Venture Capital, the corporate VC arm of Thailand’s Kasikornbank, joined the round along with existing investors Citigroup and MassMutual Ventures.
Potato Productions, led by entrepreneur Lee Han Shih, and Octava, a Singapore-based family office, also participated.
The new funding will enable BondbloX to expand BondbloX Bond Exchange (BBX), its digital platform for trading both fractional and full-size bonds, and support its international growth, including the recent launch in Gujarat International Finance Tec-City (GIFT City) in India.
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