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Focus Southeast Asia News Roundup – Issue #12

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 #12

FINTECH

Southeast Asia-focused Jungle Ventures announces $225M first close for its fourth fund
Singapore-based Jungle Ventures said today it has hit the first close of its fourth fund at US$225 million. Jungle Ventures targets to raise US$350M for this fund, which it claims to be the largest early-stage fund to be launched in SEA this year.
Amit Anand is the Founding Partner at Jungle Ventures

Indonesian wealthtech startup Pluang closes $55m funding round
Indonesia-based wealth tech startup Pluang today announced that it has raised an additional US$35 million, bringing its total funding raised this year to US$55 million.
Claudia Kolonas is the Co-Founders at Pluang

Thai retail giant Central joins lifestyle e-commerce startup Mercular’s US$4M Series A roundMercular, an e-commerce platform for lifestyle hobbyists in Thailand, has closed its Series A round at US$4 million with an investment from Thai retail conglomerate Central Retail.
Woragun Wattanasakchai is the CEO at Mercular

Digital therapeutics startup Neuroglee raises $10M to help people with neurodegenerative conditions
Neuroglee Therapeutics, a Singapore-based digital health and wellness platform, has secured US$10 million in a Series A round led by Openspace Ventures.
Aniket Singh Rajput is the Founder & CEO at Neuroglee 

Indonesian e-commerce startup SIRCLO bags $36m from East Ventures, Saratoga
SIRCLO, a company providing e-commerce solutions that help brands sell online in Indonesia, announced today it has raised US$36 million in a new round of
financing, led by local investment firms East Ventures (Growth Fund) and Saratoga.
Brian Marshal is the Founder & CEO at SIRCLO

Data security startup Borneo nets $18m to boost tech platform
Singapore-based Borneo, which provides a real-time data security and privacy observability platform, has raised US$15.5 million in a Series A investment round led by Vulcan Capital. Vulcan was also joined by Prosus Ventures, Lytical Ventures, and existing investor Wavemaker Partners.
Prithvi Rai is the CEO at Borneo

E-commerce aggregator Rainforest raises $20M just months after its last funding
Rainforest, a Singapore-headquartered e-commerce brand aggregator, has bagged an oversubscribed US$20 million pre-Series A round led by Monk’s Hill Ventures.
JJ Chai is the CEO & Co-Founder at Rainforest

Digital assets platform Zipmex rakes in US$41M Series B, plans to launch in Thailand
Zipmex, a Singapore-headquartered digital assets exchange, has secured a US$41 million Series B round from a clutch of corporate investors and VCs.
Marcus Lim is the CEO & Co-Founder at Zipmex

Indonesian agri-grocery startup Segari nets $16m to strengthen supply chain
Indonesian grocery social commerce startup Segari has received US$16 million in a Series A funding round led by Go-Ventures, with participation from SIG.
Farandy Ramadhana is the Co-Founder & CTO at Segari 

Bangkok-based insurtech Sunday banks $45M Series B from investors like Tencent
Sunday, a Bangkok-based fully-integrated sales and services insurtech startup, disclosed today it has secured US$45 million in an oversubscribed Series B financing round.
Cindy Kua is the CEO & Co-Founder at Sunday

Vietnam’s KiotViet nets $45m in KKR-led Series B funding
KiotViet, a Vietnam-based merchant platform for MSMEs, has secured US$45 million in a Series B funding round led by global investment firm KKR.
Tri Cao is the Deputy General Director at Citigo (the parent company of KiotViet) 

Gwendolyn Regina to lead investments at Binance’s new US$100M DeFi fund
Gwendolyn Regina has joined as an investment director at Binance to head its new US$100-million Binance Smart Chain (BMC) fund.
Gwendolyn Regina is the Investment Director at Binance

BuyMed, a Vietnamese online pharmaceutical marketplace raises US $8.8 million in a new funding round
BuyMed, a Vietnamese B2B startup that provides a healthcare and personal care distribution platform, has raised US$8.8 million in a new round of funding, led by South Korea’s Smilegate Investment.
Peter Nguyen is the Co-founder and CEO at BuyMed

True Global Ventures raises over $100m for blockchain-focused equity fund
Singapore-based blockchain fund True Global Ventures (TGV) has announced the closing of its fourth fund at over US$100 million. True Global Ventures was founded by 40 partners, and its LPs include entrepreneurs, business angels, institutional investors and family offices such as Octava Family Office.
Tan Ting Yong is the Investment Director at Octava Family Office

Carsome becomes Malaysia’s largest tech unicorn after raising $200m
Carsome Group, a leading user car e-commerce platform in Southeast Asia, has announced the completion of its US$170 million Series D2 round of financing.
Eric Cheng is the CEO & Co-Founder at Carsome

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