This week witnessed a flurry of venture capital activity in Southeast Asia, with startups from various sectors raising significant funds to fuel their growth and expansion plans. From Singaporean proptech innovators to Vietnamese SaaS providers and Thai digital marketplaces, these startups are poised to make waves in their respective industries.
Let’s take a closer look at the standout fundraisers and their ambitious visions for reshaping the regional business landscape.
Probiotics (Singapore)
Probiotics is an antimicrobial peptide technology startup in Singapore. It is engaged in researching and producing recombinant antimicrobial peptides, using novel biotechnology to reduce the manufacturing costs of antimicrobial peptides.
Its first product targets the aquaculture industry, renowned for its antibiotic abuse, where bacterial infections cost shrimp farmers billions in yearly losses.
Funds raised: US$6.2 million
Investors: Seventure Partners, SEEDS Capital, The Yield Lab Asia Pacific, GrainCorp Ventures, Farmabase, Trendlines Agrifood Fund, Ponderosa VC, and others.
Round: Series A
CNV (Vietnam)
Founded in 2020 by Nguyen Tuan Phu and Do Dang Khoa, CNV offers digital transformation SaaS products and marketing growth services to assist enterprises in Vietnam to achieve sustainable growth via marketing, loyalty and e-commerce activities.
CNV currently serves over 2,0000 customers, including multinational corporations, local enterprises, SMEs, MSMEs, and government agencies, helping them optimise their client-facing activities and backend customer data platform analysis activities.
Funds raised: US$1 million
Investors: Wavemaker Partners
Round: Not specified
Mindverse (Singapore)
Founded by former Meta execs and top AI researchers in 2022, Mindverse has developed Artificial Diversified Intelligence (ADI) using the Large Personalisation Model (LPM). Mindverse offers two products: MindOS Studio, which helps businesses create AI-native websites with dynamic, personalised chat experiences, and Mebot, which offers individuals an individualised experience that matches their unique nature. It acts as a digital “second brain” to enhance productivity by learning and analysing user habits, ideas, and preferences.
Funds raised: US$5 million
Investors: Seed
Round: Square Peg (lead)
WYZauto (Thailand)
WYZauto is an online tyre marketplace for vehicle maintenance businesses in Thailand. Launched in April 2021 in Thailand and May 2023 in Malaysia, WYZauto connects two-wheeler and four-wheeler vehicle maintenance businesses with top tyre brands. The company works with numerous wholesalers and brands, helping them increase their e-commerce presence and reach new customers.
Funds raised: US$2.25 million
Investors: Vynn Capital, Vincent Lee, Oak Drive Ventures, Kaya Founders
Round: Pre-Series A
RedDoorz (Singapore)
Founded in 2015, RedDoorz is a technology-driven hotel management company which works with hotels to provide affordable and reliable stays in all major cities and destinations across the region. RedDoorz has operations across more than 80 cities in four countries in Southeast Asia, namely Singapore, Indonesia, the Philippines and Vietnam.
Funds raised: US$28.2 million
Investors: Asia Partners, Mirae Asset Venture Investment, others
Round: Not specified
TradeTogether (Singapore)
Led by CEO Geoff Ira, TradeTogether is a Web3 digital asset management company. The TradeTogether Bitcoin Advantage Fund allows clients to invest in Bitcoin with added protection against market downturns, offering a better experience than traditional ETFs. The startup also provides high-net-worth individuals and financial institutions with transparent solutions in tokenised bonds and Web3 products for receivable financing, moving away from the DeFi platform model.
Funds raised: Undisclosed
Investors: XVC Tech
Round: Not specified
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