Despite the global health crisis, the Southeast Asian startup ecosystem remains busy with their fundraising efforts.
There was some concern that the COVID-19 pandemic might negatively impact the ecosystem. as it had been proven in various pandemics years before. But it seemed like the ecosystem was able to go through the crisis –at least for the time being.
The following is a list of notable later stage funding rounds that e27 managed to gather in March:
DoctorAnywhere
Funding: US$27M in Series B
Investor(s): Square Peg, EDBI, IHH Healthcare, Pavilion Capital, Kamet Capital
The company said that the latest investment will “boost its market leadership position in the healthtech industry in Asia, as it prepares for expansion to augment the region’s healthcare landscape through digital transformation, with the support of local and regional partners.”
Horangi
Funding: US$20 million in Series B
Investor(s): Provident Growth, Monk’s Hill Ventures, Right Click Capital, Genesis Alternative Ventures
Horangi will use the fresh funds to support its expansion plan in the region.
gojek
Funding: US$1.2 billion
Investor(s): Not mentioned
The funding round came just after gojek had been reported to be considering a merger with rival Grab — a report that gojek has denied.
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Shopback
Funding: US$75 million
Investor(s): Temasek, Rakuten, EDBI, EV Growth, Cornerstone Ventures, and 33 Capital
Shopback will use the funds to expand into new markets in Asia and diversify its core cashback service.
AnyMind
Funding: US$26.4M in Series B
Investor(s): Japan Post Capital and existing investors
Already existing in 11 markets in Asia, the newly-raised capital will be used by the Singapore-based firm to scale its business and expand into India and the Middle East.
iPrice
Funding: US$10 million in Series B
Investor(s): ACA Investments, Daiwa PI Partners, LINE Ventures and Mirae Asset-Naver Asia Growth Fund
The company targets expansion beyond its primary price comparison unit, which accounts for 50 per cent of its revenues, operating at a 30 per cent EBITDA margin according to a statement.
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