Welcome to the pulse of Southeast Asia’s burgeoning tech landscape, where innovation knows no bounds.
In a whirlwind week of entrepreneurial dynamism, startups from across the region have seized the spotlight by securing substantial investments, fueling their dreams of growth and transformation.
These visionary enterprises are poised to reshape industries, from electric scooters to recruitment solutions, mobile remittance, infant nutrition, and more.
As we delve into the details of these investments, it becomes evident that Southeast Asia is fostering innovation and attracting significant capital, driving the digital revolution forward.
Join us as we unravel the latest developments in this thriving tech ecosystem.
Scooterson raising US$10M funding
US-based electric scooter startup Scooterson, which has its manufacturing plant in Singapore, is set to kick off its new US$10 million fundraising process next month.
The new capital raise will fuel Scooterson’s multifaceted expansion strategy, encompassing product development, geographical reach, and operational enhancements, its Co-Founder and CTO Deepansh Jain told e27.
Established in 2016, Scooterson offers a semi-autonomous e-scooter model, Rolley, which requires zero learning curve and can accelerate. Its Smart Mode Acceleration feature works in tandem with the scooter’s sensors, phone sensors, and prior ride data to optimise speed.
KUPU nets US$6M funding
KUPU, an AI-powered recruitment platform in Indonesia, raised US$6 million in the latest funding round by Ascend Global Investment Fund (AGIF).
With this new funding round, KUPU plans to broaden its market presence while strengthening its Al-driven solutions.
An average of 250 individuals submit applications for a single job opening, but only four to six make it to the interview stage. Ultimately, just one receives an offer. This process takes a typical company around 68 days to complete for each new hire.
KUPU tackles these challenges with its innovative tools, including talent and job competency models, omnichannel sourcing, AI-facilitated video interviews, and Al matching models. This makes it easier for companies to find the best talent and for job seekers to find career opportunities that match their potential.
Teja Ventures invests in Grouu
Grouu, an Indonesian startup working on the nutritional needs of infants and toddlers, secured an undisclosed amount in additional investments from Singapore-based VC firm Teja Ventures.
The funding will help the startup diversify its product offerings, enhance its proprietary digital subscription platform, and strengthen its omnichannel presence across various e-commerce platforms and offline retail networks.
“Our direct-to-consumer approach allows us to understand customers’ needs and expectations first-hand. To further enhance product accessibility, we are strengthening our omnichannel presence, which includes various e-commerce platforms and offline retail networks like supermarkets and baby shops,” said Jessica Marthin, Co-Founder and CEO of Grouu.
Founded in August 2020, Grouu focuses on meeting the nutritional needs of infants and toddlers from six months and above. The development process of its products and menu involves parents as consumers and a team of experts comprising nutritionists, food scientists, chefs, and paediatricians to ensure complete and balanced nutrition.
TANGGapp closes US$2.5M seed round
TANGGapp, a P2P mobile remittance app targetting Overseas Filipino Workers (OFWs), closed its US$2.5 million seed funding round from TEN13, Goodwater Capital, North Fifth Asia, Foxmont Capital, and angels from the Manila Angel Investors’ Network (MAIN).
Founded in 2020 by Filipina-Dutch and American Harvard graduate Rebecca Kersch, TANGGapp enables customers in the Philippines to connect with local banks and e-wallets for transactions. It wants to be the international ‘Venmo’ across the seas for the 1.5 billion unbanked globally and migrant workers, starting with the Philippines.
500 Global raises US$143M
Global early-stage VC firm 500 Global raised US$143 million for its third early-stage fund (500 Southeast Asia III) and growth investment vehicle for Southeast Asia.
The Limited partners (LPs) across its early-stage and growth investment vehicles include a sovereign wealth fund, public and private pension funds like Khazanah Nasional Berhad, Kumpulan Wang Persaraan (Diperbadankan) [KWAP], and Employees Provident Fund (EPF).
A university endowment, family offices of prominent global investors, and portfolio companies valued at over US$1 billion from 500 Global’s first Southeast Asia early-stage fund also invested.
Originally targeted for US$75 million, 500 SEA III closed at US$100 million, with over half of the fund coming from returning LPs. The early-stage fund will invest in businesses and AI-enabled technologies that advance rural digitalisation, sustainable cities, human and machine productivity, healthcare, food security and financial inclusivity.
500 SEA III aims to invest between US$250,000 and US$500,000 in 100 pre-seed to Series A startups across Malaysia, the Philippines, Vietnam, Thailand, Singapore, and Indonesia.
Global Brain co-leads Josys’s US$93M round
Josys, a Japanese device management startup helping companies reduce IT operation costs and enhance security systems, raised US$93 million in Series B funding.
Global Brain and Globis Capital Partners led the round, bringing Josys’s total funding to US$125 million.
With this new round of funding, the SaaS startup plans to expand its product and engineering team and grow its operations in the US and the APAC region.
Established in 2021, Josys helps companies automate and optimise the management of their software applications and devices.
WhiteCoat closes a tranche of Series B round
Telehealth services provider WhiteCoat Global is poised to achieve break-even in its core market, Singapore, by the end of this year, said Founder and CEO Bryan Koh.
The B2B2C startup, which partners with insurers and companies to provide digital care offerings to employees and their dependents, also has a presence in Indonesia, Vietnam, and Cambodia.
“We are poised to break even in our core market, Singapore, by the end of this year and will be the first digital healthcare firm in the region to reach this milestone through organic growth,” Koh said in an interview with e27. “We now have plans to expand into Malaysia, Thailand and Hong Kong by the end of this year.”
Monk’s Hill backs DELOS
ELOS, an aquaculture-tech company in Indonesia, announced the completion of an undisclosed Series A funding round led by Monk’s Hill Ventures.
DELOS intends to utilise the funding to double its production and further enhance AquaHero by investing in research and development focused on reducing production costs through improved disease monitoring, water quality management, feed conversion ratios, and yield optimisation.
Founded in 2021 by Guntur Mallarangeng, Aris Noerhadi, Alexander Farthing, and Bobby Indra Gunawan Wibisono, DELOS aims to jumpstart what it calls the ‘Blue Revolution’. The vision is to propel Indonesia into a global aquaculture seafood producer within a decade, revolutionising and modernising the US$2.5 billion Indonesian aquaculture industry for seamless integration into the global seafood supply chain.
SLEEK EV secures funding from ORZON
Singapore-headquartered SLEEK EV, which offers affordable and sustainable mobility solutions, announced the completion of an undisclosed Pre-Series A funding round led by ORZON Ventures, a VC firm backed by OR and 500 TukTuks.
January Capital and A2D Ventures also participated.
The funds will also be directed towards the enhancement of the user experience by developing the Smart Vehicle Controller Unit to facilitate seamless connectivity with their vehicles through the Sleek App.
Founded in 2019 by Kantinan Tunveenukoon and Zhang Quan (ZQ) Ong, SLEEK EV aims to establish electric vehicles as the standard rather than the exception in urban mobility. They address the issue of high travel expenses in Southeast Asia, where transportation costs can be over 30 per cent of income. Motorcycles offer an affordable alternative, and the founders are leveraging industry connections to promote cleaner and cheaper mobility through electrification.
Monk’s Hill Ventures invests in Saladin
Vietnamese insurtech firm Saladin announced the completion of its Series A funding round led by Monk’s Hill Ventures.
Saladin’s pre-seed investors Peak XV Partners, Venturra Capital, and Patamar Capital, besides a group of angels, also joined the round.
Saladin plans to use the capital to accelerate the development of technology and insurance products and expand its marketing, sales partnership networks, and customer support services.
Founded in 2021, Saladin is an online platform that utilises a multi-channel distribution system to provide a single destination for personalised insurance solutions.
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