This week, Southeast Asian startups secured funding across various sectors including logistics, entertainment, sustainability and e-commerce.
Jalat Logistics, a Cambodian company, aims to revolutionise same-day delivery with its management portal, while Singapore-based Kasagi Labo focuses on bringing authentic Japanese anime content to a global audience.
In the sustainability sector, Humble Sustainability from the Philippines is promoting a circular economy by helping businesses sell used IT equipment. Investors also showed interest in BANIQL’s innovative technology for sustainable nickel and cobalt extraction in Indonesia.
This funding spree highlights the diverse and promising startup ecosystem in Southeast Asia.
Jalat Logistics (Cambodia)
Founded in 2021 by Sou Sethey, Sou Sreyphoung, and Ung Lylay, Jalat Logistics provides a management portal to streamline logistics operations and enhance service delivery. Phnom Penh-based startup ships inventory, optimises it intelligently across its networks, packs it according to brand identity, and delivers it to customers within four hours. According to Chairperson Sreyphoung, Jalat Logistics aims to introduce standard same-day delivery that is “reliable, convenient, and informative”.
Funding raised: Not disclosed
Round: Not specified
Investors: Satori Giants and X Venture Holdings
Kasagi Labo (Singapore)
Founded and helmed by anime enthusiast Kendrick Wong, Kasagi Labo delivers authentic Japanese anime content through a multifaceted approach encompassing IP licensing, distribution, and merchandising. The platform aims to unite the entire anime content creation ecosystem, from IP owners to artists and voice actors.
Singapore-based Kasagi Labo, a venture studio that brings authentic Japanese anime to a global audience, has secured US$12 million in a pre-Series A round of financing led by Burda Principal Investments, a division of Europe’s media and technology conglomerate Hubert Burda Media.
Funding raised: US$12 million
Round: pre-Series A
Investors: Burda Principal Investments, CMT Digital, SuperScrypt, Hashed, Sfermion, and Gold House Foundation.
BANIQL (Indonesia)
attracts US$1.6M for its innovative approach to nickel, cobalt extraction
Founded by Willy Halim (CEO), Eric Januar (COO), and Seung Wan, BANIQL has developed innovative technology to make the extraction of nickel and cobalt sustainable and environmentally friendly. Nickel and cobalt are essential components in electric vehicle (EV) batteries and renewable energy storage.
Funding raised: US$1.6 million
Round: Seed
Investors: BEENEXT, Seedstars International Ventures, A2D Ventures, Sopoong Ventures, and angels.
Humble Sustainability (Philippines)
Humble promotes a circular economy by helping businesses sell their old IT equipment instead of throwing it away, reducing electronic waste. It aids clients in reaching their Environment, Social and Governance (ESG) goals by reusing equipment. The company has an ambitious goal of making one billion items circular by 2030.
Funding raised: Undisclosed
Round: Not specified
Investors: Gobi-Core Philippine Fund, National Development Company, Double River Impact, Equitrust Holdings, and angels from XA Network.
PopChill (Hong Kong)
PopChill is a luxury resale marketplace for authentic second-hand fashion luxury items in Taiwan and Hong Kong. The marketplace features over 100,000 items in partnership with three of the top ten luxury resellers in Japan and suppliers from Taiwan and Hong Kong. Its most popular brands are Chanel, LV, and Hermes and they contribute to 60 per cent of the total revenues. Handbags constitute 80 per cent of sales, and PopChill plans to diversify into watches and jewellery in the next six to 12 months.
Funding raised: US$3.1 million
Round: Pre-Series A
Investors: Top Taiwan Venture Capital, 500 Global, Acorn Pacific, ITIC, AVA Angels Fund, Acorn Pacific Ventures, and Darwin Ventures.
XSQUARE (Singapore)
XSQUARE Technologies is an intelligent warehousing automation company. Started in 2019, XSQUARE provides intelligent warehouse solutions designed to address critical gaps arising from recurring labour shortages and the urgent need to automate and optimise operations in brownfield and greenfield environments. Its suite of autonomous forklifts and intelligent warehouse orchestrator software simplifies warehouse operations without requiring extensive reconfiguration, thus saving time and costs. It serves clients in a diverse range of industries, from pharmaceuticals to manufacturing.
Funding raised: US$7.8 million
Round: Series A
Investors: Wavemaker Partners, SEEDS Capital, and Goldbell Corporation.
Honest Bank (Singapore)
Founded in 2019, Honest Bank is a financial services startup focused on the Indonesian market. Its core product is the Honest Card, a credit card available in both physical and digital form. In Indonesia, the company is led by Dharu Estiningrum, who was previously an executive in the credit card division of state-owned Bank Mandiri.
Funding raised: US$2.5 million
Round: Series B
Investors: Rakuten Ventures and Jetha Global.
Mighty Jaxx (Singapore)
Founded in 2012 by Jackson Aw, Mighty Jaxx creates limited-edition collectibles in partnership with well-known companies such as Nickelodeon, Warner Brothers, and Netflix, among others. The design studio has customers in 90 countries.
Funding raised: US$11 million
Round: Series A+
Investors: Sunova Capital and East Ventures.
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