Despite Global Health Crisis, March Remained an Exciting Month for Early-Stage Startups in SEA | SGInnovate

Despite Global Health Crisis, March Remained an Exciting Month for Early-Stage Startups in SEA

Monday, April 06, 2020

Based on our coverage, there are at least 23 Southeast Asian startups announcing their early stage funding rounds in March

As the COVID-19 pandemic continues to threaten the global economy, it is natural that the startup ecosystem might fear how it will impact their fundraising journey.

While investors are expected to become more cautious in the coming months, in March, fundings continued to pour in for Southeast Asian startup ecosystem. The e27 content team noticed that there seemed to be a bigger number of seed stage funding rounds being announced during the month, as opposed to Series A.

Check out the following list for a clearer picture:

Funding: US$200,000 in Seed
Investor(s): Seiji Kurokoshi

The capital will be used to continue the rapid expansion of its retail and wholesale network within the region.

Funding: Undisclosed Seed
Investor(s): Undisclosed

The startup is currently valuated at US$3.92 million, according to the company statement.

Funding: Undisclosed Series A
Investor(s): Amatil X

The investment into Kargo marks Amatil X’s first investment in Indonesia.

Funding: US$750,000
Investor(s): EME, United Managers Japan Inc.

Kyarlay marks EME’s eighth investment in Myanmar since launching in October 2018.

ALSO READ: These early stage startups receive much love from investors in February

Blue Planet
Funding: US$25 million
Investor(s): Nomura

The new capital will be used to develop its technology solutions further.

Funding: US$2 million
Investor(s): Here Technologies, Elev8, SGInnovate, Mobile Only Accelerator (MOX), VentureRock

The capital will be used to develop its technology further and for expansion in Asia.

Funding: US$10 million
Investor(s):  Lightspeed Ventures, Golden Gate Ventures, Sequoia Surge, Kinesys Group, and Alto Partners

Launched in July 2019, Chilibeli empowers its agents (partners), many of whom are housewives, with the opportunity to create value for consumers, promote community bonding, and increase their household income.

Funding: Undisclosed Seed
Investor(s): East Ventures

The fresh funds will be used to “accelerate company in pioneering the BioGenome journey” in the country.

Funding: US$150,000 in Seed
Investor(s): Y Combinator

Before this funding, Pahamify has also received an undisclosed amount in grants from YouTube and Y Combinator.

Funding: US$2.1 million in Series A
Investor(s): SeedPlus, Found Ventures, JobsCentral co-founder Huang Shao-Ning

The company aims to triple its revenue in 2020 and double its headcount, specifically adding advanced capabilities in engineering, people science, as well as in customer-facing roles in each SEA market to deliver personalised support.

ALSO READ: Starting off the new year with these early stage funding rounds of January

Right Hand
Funding: US$1 million in Seed
Investor(s): Atlas Ventures, SGInnovate, Entrepreneur First

Since launching, Right-Hand’s solutions have been used within government and financial sectors across Southeast Asia and Australia.

Funding: US$500,000 in Seed
Investor(s): 500 Durians, 500 Startups Thailand, Expara Asia Ventures, and Exabytes founder and CEO Chan Kee Siak

While Novocall already has clients in Singapore and Malaysia, it is looking forward to expanding to Indonesia and Thailand.

Funding: “seven-figure” Seed
Investor(s): NXT Ventures

Superfanz seeks to address the pain point in which over 90 per cent of the creators do not earn enough money from their social media accounts to make a living.

Funding: Undisclosed Seed
Investor(s): Agaeti Ventures, East Ventures, and SMDV

Waste4Change said it plans to use the funding to increase its waste management capacity, targeting to contain at least 2,000 tonnes of waste per day in 2024.

Funding: Undisclosed Series A
Investor(s): SCAngels, SGInnovate

Moovaz said it will use the funding to develop features that will simplify processes in the global relocation industry.

Funding: Undisclosed
Investor(s): Frontline Strategy Funds

Cardiotrack aims to bridge the gap between healthcare providers and chronic patients for affordable access to healthcare and better disease management.

ALSO READ: MassMutual Ventures launches US$100M second fund for Southeast Asia’s early stage startups

Funding: US$1.15M in Seed
Investor(s): Collaborative Fund,  3tcvp, Antler, Steve Melhuish, angel investors

SAMA recently became a fully-licensed agency, having obtained the Singapore Ministry of Manpower (MOM) license to work directly with companies to address hiring needs.

Funding: US$150,000 in Seed
Investor(s): Y Combinator

Prior to this, the startup had raised undisclosed pre-seed funding from Indonesian early-stage VC firm Everhaus.

Funding: Undisclosed Seed
Investor(s): 500 Startups

ESPL is a global e-sports tournament platform provider focussed on creating mobile ecosystems for amateur esports leagues globally. Through ESPL’s national franchise model, up-and-coming esports talents can easily participate in global competitions, all by facilitating grassroots participation.

Funding: US$1 million
Investor(s): GDP Venture, angel investors

The company will use the funding to strengthen the platform capability, minimise the bias in text-labelling, and increase privacy and data security, something that’s regarded as a crucial aspect of AI-based NLP and used to be outsourced.

Funding: Undisclosed Series A
Investor(s): Allectus, iGlobe Ventures, Genting Ventures, Max Bittner, and Tim Neville

The fundraise allows it to double down on their recently announced launch in Malaysia and fuel further expansion.

Funding: US$20M in debt
Investor(s): Silverhorn Group

The funding will be used to grow Oriente’s loan book and extend the reach of its inclusive and affordable digital-credit and Pay Later solutions to the undervalued and credit-starved consumers and micro-enterprises in the Philippines.

Funding: US$450,000
Investor(s): I Global

With this funding, the startup aims to expand its current database and continue to grow operations in Singapore, Tokyo, Ho Chi Minh City, Shanghai and Tashkent.

e27 encourages startups to update their profiles on our Startup Database. Having a completed profile will provide startups with greater opportunity for exposure among our network of investors.

Original article: E27

Topics: Investments

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