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Focus Southeast Asia News Roundup – Issue #07

Every fortnight we compile a list of important news updates and events covering Southeast Asia FINTECH, MFGTECH, CLNTECH, and AGRTECH sectors.

For a downloadable copy of Southeast Asia Issue #07

FINTECH

Singapore’s MiRXES lands US$77M Series C to develop multi-cancer early detection tests
MiRXES, a Singaporean biotechnology company that develops RNA-powered disease early detection tests, announced today it has raised US$77 million in Series C financing. MiRXES plans to accelerate regulatory approval and adoption of GASTROClear, an RNA-powered blood test for the early detection of gastric cancer in several countries.
Lihan Zhou is the Co-founder and CEO at MiRXES

airasia Digital to acquire Gojek’s Thailand operation
Southeast Asia’s super app battle continues, as airasia Digital (previously known as RedBeat Ventures), the digital arm of the Malaysia-based airline operator, has acquired the Thailand operations of Gojek. The deal is expected to rev up the expansion of the airasia Super App in ASEAN, while enabling Gojek to increase investments in its Vietnam and Singapore operations.
Tony Fernandes is the CEO Airasia Group

GREDU raises US$4M to allow Indonesia’s schools, teachers to track K-12 students’ performance
GREDU, an Indonesia-based edutech company, has raised US$4 million in a Series A round of financing led by Intudo Ventures, with participation from existing investor Vertex Ventures. Through its CMS, GREDU also helps administrators handle documentation, compile syllabuses, manage teaching schedules, and improve big data management.
Joo Hock Chua is the Managing Director at Vertex Ventures

Dagangan bags pre-Series A for its one-stop platform for household needs in Indonesia
Dagangan, an FMCG-focused B2B supply chain and social commerce startup in Indonesia, has bagged an undisclosed amount in pre-Series A financing from a host of investors, including Spiral Ventures, CyberAgent Capital, 500 Startups, and local transportation company Bluebird Group.
Ryan Manafe is the Co-Founder at Dagangan

WarungPintar reportedly raises US$6M in new funding round
Indonesian new retail startup Warung Pintar has raised an IDR87 billion (US$6 million) in Series B funding round, according to sources. The funding round is led by existing investors East Ventures with the participation of Vertex Ventures. Existing investors East Ventures led this funding round for Warung Pintar, with the participation of Vertex Ventures.
Agung Bezharie is the Co-Founder & CEO at Warung Pintar

LendMN’sS’pore parent lands funding to offer AI-based instant collateral-free loans to Mongolian customers
AND Global, a Singapore-based micro-lending startup providing AI-based instant collateral-free loans to customers in Mongolia, has secured an undisclosed sum in funding from SBI VEN Holdings, the local subsidiary of Japanese investor SBI Holdings. As of June 2021, LendMN claims to have over 930K registered users, which accounts for over one-fourth of the total population in Mongolia.
Agung Bezharie is the Founder at AND Global

Carsome makes strategic investment in offline car, motorcycle auction service company
Southeast Asian car trading platform Carsome has acquired an equity stake in Indonesian offline car and motorcycle auction service company, PT Universal Collection (PT UC). As part of its investment,
DellyNugraha is the Country Head Indonesia at Carsome

Workforce management platform Workmate secures $10m loan from Lendable
Singapore-headquartered Workmate, which offers an end-to-end online staffing platform, announced today that it has received a US$10 million loan from the UK-based lending platform Lendable
Mathew Ward is the Founder & CEO at Workmate

OsakaKuma raises US$6M from SEEINFRONT Capital to open 3 outlets for Japanese cosmetic brands in S’pore
OsakaKuma, a Singapore-based online beauty store that sells Japanese cosmetics, has announced that it has secured US$6 million from local investment company SEEINFRONT Capital in a pre-Series A round of financing from undisclosed investors.
Tony Wang is the Founder at OsakaKuma

iPhone co-inventor joins SG insurtech startup bolt tech’s US$180M Series A round
Singapore- and New York-based insurtech company, bolttech, has announced the completion of an oversubscribed US$180 million Series A funding round led by US- and Germany-based global investment firm Activant Capital Group.
Tony Fadell is the Principal at Future Shape, Co-Inventor of iPhone

NFT minting platform Mintable nets US$13M from Ripple, ex-advisor to Bill Clinton, others
Mintable, a Singapore-based next-generation non-fungible token (NFT) minting platform and marketplace, announced today the closing of its oversubscribed Series A funding round at US$13 million. Singapore-based Mintable also offers an online marketplace that aims to make the buying and trading of NFTs easy and accessible for the masses.
Zach Burks is the Founder & CEO at Mintable

SCI Ecommerce closes ongoing financing round at US$65.4M, inks partnership with TikTok
SCI Ecommerce, a  Singapore-headquartered cross-border e-commerce enabler, has announced the final close of its ongoing fundraising, bringing the total capital raised from this round to approximately S$88 million (US$65.4 million). With the help of SCI, brand partners in Indonesia can carry out sales directly through TikTok, activating a new channel for social commerce.
Joseph Liu Jiannanis the CEO at SCI Ecommerce

Digital document platform Dedoco completes $2.5m seed funding round
Dedoco, a Singapore-based decentralised digital document and signing platform, announced today it has completed a seed investment of SGD 3.3 million (US$2.45 million), led by Vertex Ventures Southeast Asia. Dedoco enables document authentication by securing real-time verification options while an audit trail is recorded on the blockchain to maintain transaction integrity.
Daphne Ng is the Co-Founder & CEO at Dedoco

Payments firm MoMo buys Vietnamese AI startup Pique that turns visitors into customers
Vietnam-based payments app Momo has acquired local startup Pique that uses AI to turn visitors into customers. MoMo has bought all of Pique’s intellectual property and has hired its data science and engineering team, including its founder.
Tuan Trinh is the Ex-Founder at MoMo

Endowus attracts US$22.3M Series A to take on the likes of StashAway
Endowus.com, a Singapore-based MAS-licensed digital wealth platform, announced today that it has received investments from strategic investors, including UBS, Samsung Ventures, and Singtel Innov8.
Samuel Rhee is the Chairman & Chief Investment Officer at Endowus

PayMaya owner Voyager Innovation raises $167M from KKR, Tencent and IFC, to launch digital bank in the Philippines
Voyager Innovations, the digital services arm of Philippine telco giant PLDT, announced today it has raised US$167 million in a new funding round for its fintech unit PayMaya.
Shailesh Baidwan is the President at Voyager and PayMaya

Velocity Ventures to back distressed hospitality & travel startups with the new US$20M fund
Singapore-based venture capital firm Velocity Ventures has announced the initial closing of its US$20-million fund dedicated to hospitality & travel startups in Southeast Asia. Velocity Hospitality and Travel Fund I has also announced its maiden investments in two startups: Aigens and Zuzu Hospitality.
Nicholas Cocks is the Managing Partner at Velocity Ventures Singapore

Vietnamese invecstment app Infina lands $2M seed round
Vietnamese investment app Infina announced today that it has received US$2 million in an oversubscribed seed round of financing from a slew of investors. The list includes Saison Capital, Venturra Discovery, 1982 Ventures, 500 Startups, and Nextrans, besides unnamed executives at Google and Netflix, and other angel investors.
James Vuong is the Founder & CEO at Infina

Carousell mulling US listing via SPAC merger at US$1.5B valuation
Singapore’s leading online classifieds company Carousell is mulling public listing in the US via merger with a special purpose acquisition company (SPAC), says a Bloomberg report, citing undisclosed sources. The transaction could value the tech company at about US$1.5 billion, the report added. It is already working with an adviser on the potential deal.
Siu Rui Quek is the Co-founder, CEO at Carousell

Gojek CEO, local Indonesian investors take part in a funding round for Gotrade
Singapore-based wealthtech platform Gotrade announced a US$7 million funding round led by LocalGlobe. In this funding round, Gojek Co-Founder and CEO Kevin Aluwi also participated as an angel investor.  Singapore-based Gotrade is a stock trading platform that makes investing in US companies accessible for Indonesian users.
Kevin Aluwi is the CEO & Co-founder at Gojek

E-commerce logistics startup Locad gets $4.9M seed round led by Sequoia Capital India’s Surge
Singapore-based logistics and supply chain management integrator, Locad, has raised US$4.9 million in a seed round led by Sequoia Capital India’s Surge. Through its platform, brands can manage their orders and stocks from a single virtual pool across multiple sales channels, with visibility of sales, orders, inventory, and service levels.
JannisDargel is the Co-Founder & COO at Locad

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