The most fascinating part about early-stage funding news coverage in November is the variety of the verticals.
Last month, e27 saw a number of medtech startups –providing services from pharmacy delivery to orthodontics– announcing their seed funding round. Having always been seen as a promising sector, it seemed like the medtech sector in Southeast Asia had finally shown its true potential.
We also saw deals flowing into the gaming sector, which had become increasingly popular with the rise of e-sports in the region.
But the most interesting surprise was perhaps funding round into a fintech company which was conducted via a sharia-based scheme. Claiming to be the first in the region, we suspect that this may not be the last one for the regional startup ecosystem.
Also Read: Angel investor network BANSEA aims to boost Singapore’s early-stage funding landscape
The following is the list of those early-stage funding rounds in the Southeast Asian startup ecosystem:
Zenyum
Funding: US$13.6 million in Series A
Investor(s): RTP Global, Sequoia India, TNB Aura, SEEDS Capital
Zenyum’s funding will be used to power further market expansion as well as extending the current range of products beyond aligners, stepping into retainers, teeth whitening and more
SWAT
Funding: US$10 million in Series A
Investor(s): The University of Tokyo Edge Capital (lead)
This investment will allow the company to tread new business verticals and establish its position as an intelligent transport technology provider in the region.
ADBRO
Funding: Undisclosed
Investor(s): 500 Startups
ADBRO serves the marketing tech sector by providing computer vision enhanced ads that are placed over contextually relevant images across publishers in Vietnam, Malaysia, and Indonesia.
Kone Si
Funding: “six-digit” addition to pre-seed funding
Investor(s): Yangon Capital Partners
This is the second round of investment for Kone Si after it initially received pre-seed funding from Phandeeyar in 2017.
Osome
Funding: US$3 million
Investor(s): Target Global (lead)
With the fresh funding, Osome said it plans to scale operations to enter the UK and Hong Kong.
Also Read: What different types of investors are there for funding your startup?
HydroLeap
Funding: US$1.9 million
Investor(s): Wavemaker Partners (lead)
Currently, the startup provides solutions at construction sites. With this new round, it plans to take its technology to industrial parks, mining, palm oil and semiconductor industries.
Tookitaki
Funding: US$19.2 million
Investor(s): Viola Fintech (lead)
The company said that it plans to use the funding to enhance its product offerings, help around research and development, recruitment, and to drive Tookitaki’s global expansion.
Gmedes
Funding: Undisclosed
Investor(s): 500 Startups
The newly raised funds will be used to implement partnerships to activate the G-MEDS service for clinics, hospitals, pharmacy, telemedicine providers, and healthcare merchants across Singapore, Indonesia, China, Malaysia, the Philippines, and Indochina.
GuardRails
Funding: US$734,000 in seed funding
Investor(s): Cocoon Capital
With the funds from the seed investment, GuardRails said it plans on scaling their team of software engineers, security experts as well as sales and customer success representatives
Lucence
Funding: US$20 million in Series A
Investor(s): IHH Healthcare (lead)
With the new funding, Lucence aims to expand to North America and East Asia.
Also Read: These early stage funding rounds have made October the busiest time of the year
iSTOX
Funding: US$5 million in Series A
Investor(s): Tokai Tokyo Financial Holdings
iSTOX said that the partnership with the Japanese financial services firm gives iSTOX a strategic gateway to accredited and institutional investors and issuers across Japan through Tokai’s extensive network.
TrophyRoom
Funding: US$554,000 in seed funding
Investor(s): Nest Tech, Maxify
In its previous round, the company said that it focussed on building a minimum viable product, while this time they are eyeing global launch.
Giftano
Funding: US$845,000 in seed funding
Investor(s): Unnamed angel investors
Founded in 2014, Giftano offers a premium online gift card platform that caters to both the B2C and B2B markets.
Carnot Innovation
Funding: US$800,000 in seed funding
Investor(s): 500 Durians Fund, MTZ Holdings, and Entrepreneur First (EF)
Proceeds from the investment will be used to scale their solution across the Asia Pacific while building a strong inhouse team.
Alami
Funding: Undisclosed
Investor(s): Golden Gate Ventures, Agaeti Ventures, RHL Ventures, Aamir Rahim
The company stated that the funding round is conducted through sharia-based scheme.
Also Read: No, Singapore seed stage is not dead
SuperGaming
Funding: US$1.3 million in seed funding round
Investor(s): Dream Incubator, AET Fund, Better Capital
SuperGaming said that it will use the funds to build its social platform, partner with other popular games, and expand its team.
Smarten Spaces
Funding: US$12 million in Series A
Investor(s): Symphony International Holdings Limited (lead)
Since it started in 2017, Smarten Spaces has rapidly acquired customers in Singapore and India
Pintek
Funding: Undisclosed pre-Series A funding
Investor(s): Global Founders Capital (lead), Finch Capital, and Amand Ventures
The company said that it plans to use the funding to “drive technological and financial innovation needed to support Indonesia’s education sector to achieve international standards for the country’s economic development”.
DEXTF
Funding: US$460,000 in seed funding
Investor(s): LuneX Ventures, SGInnovate, CDAM, undisclosed private investors
Claiming to be an oversubscribed round, DEXTF plans to use the funding to work on the completion of its proof of concept and will use the new capital to launch the product and further develop its technology.
Pand.ai
Funding: US$1 million in seed funding
Investor(s): Angel investors, undisclosed venture firms
AI startup Pand.ai wants to use the funding to support its scale-up efforts.
EVOS
Funding: US$4.4 million
Investor(s): Insignia Ventures Partners, angel investors
Singapore-based e-sports startup EVOS plans to use the new funding to grow its e-sports entertainment arm.
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Image Credit: Andrew Neel on Unsplash
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