Category

Private Markets

Daily Brief Private Markets: HuffPost Investor and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • HuffPost Investor, Binance Join US$15.5M Series A+ Round of Fraud Detection Startup FrankieOne
  • Igloo Scores US$27M More to Extend Series B Financing Round to US$46M

HuffPost Investor, Binance Join US$15.5M Series A+ Round of Fraud Detection Startup FrankieOne

By e27

  • FrankieOne, a global platform connecting customers to multiple identity verification and fraud detection vendors via one API, has added US$15.5 million to its Series A+ round.
  • The new tranche will allow FrankieOne to expand its business across Asia Pacific and North America.

  • Founded in 2019 by Simon Costello and Aaron Chipper, FrankieOne is an identity and fraud detection engine helping companies onboard and protect their customers.


Igloo Scores US$27M More to Extend Series B Financing Round to US$46M

By e27

  • Igloo provides “competitively-priced” insurance for delivery riders in Thailand, Singapore, and the Philippines, and Vietnam
  • Singapore-headquartered insurtech startup Igloo announced an additional US$27 million to close its Series B round at US$46 million
  • The additional funds will provide Igloo with a comfortable multi-year runway

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Daily Brief Private Markets: Wealth Management Startup Kristal.AI Nets US$10M Funding and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Wealth Management Startup Kristal.AI Nets US$10M Funding, Expanding into UAE
  • Ayurveda Tech Startup NirogStreet Raises US$12M to Strengthen Supply Chain
  • Indonesia’s Hangry Posts 2.5x Revenue Jump in 2022
  • Vietnamese Electric Bike Firm Secures $8m from Jungle Ventures, Others

Wealth Management Startup Kristal.AI Nets US$10M Funding, Expanding into UAE

By e27

  • Kristal.AI, a private wealth management platform, has secured over US$10 million in its pre-series B round of investment.
  • Kristal.AI will use the new capital for expansion into new markets and driving product and platform innovation.
  • Established in 2016, Kristal is a digital-first private wealth advisory and fund management group serving mass-affluent clients globally.

Ayurveda Tech Startup NirogStreet Raises US$12M to Strengthen Supply Chain

By e27

  • NirogStreet, an Ayurveda tech startup based in Delhi, India, has received US$12 million in a Series B round of funding led by Jungle Ventures.
  • With technology-based interventions, NirogStreet enables doctors by giving technology to run their clinic, access to quality medicines inventory in real-time, and avenues to learn and earn while also closely working with the government, regulators, and research organisations.

  • It has over 50,000 Ayurvedic doctors in the community and encourages them to create and publish case studies and research reports to bring evidence-based treatment similar to modern medicine.


Indonesia’s Hangry Posts 2.5x Revenue Jump in 2022

By Tech in Asia

  • Hangry, an Indonesia-based culinary startup, said it posted a 2.5x revenue growth between January to October 2022 compared to its revenue last year.
  • At its third birthday event earlier this week, the firm’s president, Andreas Resha, said that he felt fortunate that Hangry was in a business that caters to a primary need: food.
  • That’s why demand for its product is “still strong,” he said, despite current macroeconomic disruptions pushing many tech startups to lay off employees.

Vietnamese Electric Bike Firm Secures $8m from Jungle Ventures, Others

By Tech in Asia

  • Dat Bike, a Vietnam-based electric motorbike startup, has raised US$8 million in a funding round.
  • The deal pushes the total funding Dat Bike has raised to date to US$16.5 million.

  • Founded in 2019, Dat Bike said that its electric motorcycles have 4x the range (200 kilometers versus 50 kilometers) and faster charging time (3 hours versus 6 hours) compared to most alternatives.

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Daily Brief Private Markets: AI-Driven Property Portal MOGUL.sg Nets US$6.5M Series A and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • AI-Driven Property Portal MOGUL.sg Nets US$6.5M Series A
  • KKR Leads US$48M Series C Round of Indonesian EKYC Company Privy
  • SG’s ADDX Raises $20m in Round Led by Korea’s KB Securities

AI-Driven Property Portal MOGUL.sg Nets US$6.5M Series A

By e27

  • MOGUL.sg’s 3D map supports searches with an immersive experience to help prospective buyers visualise the properties and their surrounding areas better.

  • MOGUL.sg, an AI-driven property search portal in Singapore, has raised S$9 (US$6.5) million in its first-ever funding round.
  • Launched in 2018, MOGUL.sg aims to make property searches easy with smart keywords, property tagging, and a specially curated agent concierge team to assist homeowners.

KKR Leads US$48M Series C Round of Indonesian EKYC Company Privy

By e27

  • Privy has 30M+ verified users and 1,800 enterprise consumers and processes 40M+ digital signatures per year.

  • Jakarta-based digital signature and identity company Privy has secured US$48 million in a Series C funding round.
  • Privy will use the capital to support the development of its new consumer and enterprise products. The company also intends to expand into overseas markets to accelerate growth further.

SG’s ADDX Raises $20m in Round Led by Korea’s KB Securities

By Tech in Asia

  • Singapore private market exchange ADDX has secured US$20 million in a pre-series B extension round.
  • The new capital injection comes on top of the US$58 million that ADDX initially raised in May, the company said in a release.

  • Regulated by the Monetary Authority of Singapore, ADDX uses blockchain and smart contract tech to automate the manual processes in private market investing.

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Daily Brief Private Markets: Speedoc Snags US$28M to Bring Advanced Medical Care to Homes in SG and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Speedoc Snags US$28M to Bring Advanced Medical Care to Homes in SG, MY
  • Bangladesh-Based B2B Ecommerce Firm Eyes $5m Raise
  • Better Bite Ventures, Shiok Meats CEO Invest in Animal-Free Dairy Startup Phyx44

Speedoc Snags US$28M to Bring Advanced Medical Care to Homes in SG, MY

By e27

  • Speedoc, a virtual clinic and healthcare solutions platform that brings advanced medical care to homes in Singapore and Malaysia, has announced closing its US$28 million pre-series B funding round.
  • Founded in 2017, Speedoc is a virtual clinic and healthcare solutions platform enabling users access to home-based medical care and services. 
  • It aims to drive medical care needs out of hospitals and clinics by delivering a full suite of healthcare services to homes.

Bangladesh-Based B2B Ecommerce Firm Eyes $5m Raise

By Tech in Asia

  • Bangladesh-based ecommerce startup PriyoShop is looking to add US$5 million in a bridge funding round to its cart.
  • Founded in 2020, PriyoShop handles commerce through its app and manages logistics in locations like Dhaka and Chattogram through its own fleet.
  • The company said that third-party logistics companies then take on shipping across the rest of Bangladesh.

Better Bite Ventures, Shiok Meats CEO Invest in Animal-Free Dairy Startup Phyx44

By e27

  • Phyx44, a biotech-enabled food science startup based in Bengaluru, India, has secured US$1.2 million in seed capital.

  • The startup will use the money to accelerate R&D, expand the team and work on the co-development of product formulation with key partners.

  • Founded in early 2021, Phyx44 develops animal-free milk proteins and fats for use in dairy products. It bets on microbial fermentation as the best way to replicate dairy.


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Daily Brief Private Markets: Alternative Assets Marketplace Fundnel Buys Hg Exchange and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Alternative Assets Marketplace Fundnel Buys Hg Exchange, Rebrands as Alta
  • FishLog Raises US$3.5M to Empower Cold Storage Warehouses in Indonesia to Improve Utility
  • TV Tokyo Leads Vietnamese Digital Entertainment Firm’s Series D Round
  • Lazada Group Publishes First ESG Report

Alternative Assets Marketplace Fundnel Buys Hg Exchange, Rebrands as Alta

By e27

  • Singapore-based Fundnel, a leading digital marketplace for alternative investments, has acquired the blockchain-powered private digital securities exchange Hg Exchange (HGX).
  • According to a press release, the acquisition will enable Alta to support the tokenisation and digital custody of alternative assets.
  • This will create an end-to-end solution that makes it cheaper and faster to trade private securities, funds, and asset-backed securities like real estate and luxury assets.

FishLog Raises US$3.5M to Empower Cold Storage Warehouses in Indonesia to Improve Utility

By e27

  • FishLog, an ecosystem enabler for the fisheries cold chain industry in Indonesia, has closed its US$3.5 million pre-Series A round
  • FishLog was established in 2020 by Bayu Anggara, Reza Fahlepi, and Abdul Halim to solve the fragmentation in cold chain fisheries in Indonesia

  • The agritech startup improves cold storage, processor, and distribution in Indonesia’s fisheries to enable the industry to meet global supply and demand better


TV Tokyo Leads Vietnamese Digital Entertainment Firm’s Series D Round

By Tech in Asia

  • Vietnam-based Pops Worldwide, a digital entertainment firm, has raised an undisclosed amount in its series D round.
  • While it did not disclose the size of the deal, the firm previously told Tech in Asia that it had planned to raise US$50 million for its series D round.
  • Founded in 2008 by Esther Nguyen, Pops has 690 million viewers across its OTT, YouTube, TikTok, and Facebook platforms.

Lazada Group Publishes First ESG Report

By Tech in Asia

  • Singapore-based ecommerce giant Lazada has released its first environmental, social, and governance (ESG) report.
  • As a largely unexplored concept in Southeast Asia, the firm enlisted the help of an independent consultant to map out its ESG priorities.
  • The core tenets of the firm’s ESG framework are “empowering communities, developing a future-ready workforce, ensuring responsible stewardship, and effective governance.”

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Daily Brief Private Markets: SoftBank Robotics: Robotics Arm of Japanese Conglomerate SoftBank and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • SoftBank Robotics: Robotics Arm of Japanese Conglomerate SoftBank
  • Geek+: Global Leader in Smart Logistics Robotic Technology
  • HAI Robotics: The Pioneer and Leader in ACR Robot Market
  • XPeng Robotics: Early-Stage VC Investment in Developer of Smart Robot Pony
  • Gaussian Robotics: Leading Provider of AI-Powered Cleaning Robots
  • MegaRobo: China-Based Disruptor in Life Science Automation
  • UBTech Robotics: China’s Global AI and High-Tech Robotics Unicorn
  • Keenon Robotics: Innovative Chinese Maker of Indoor Robots
  • Dobot: Make Smart Manufacturing Accessible
  • ROKAE Robotics: Founder-Led Supplier of Flexible Cobots and Lightweight Industrial Robots

SoftBank Robotics: Robotics Arm of Japanese Conglomerate SoftBank

By Andrei Zakharov

  • SoftBank Robotics is a pioneer in the industry of service robots and human-robot interactions. The company unveiled the world’s first social humanoid robot Pepper in 2014.
  • Alibaba Group and Foxconn Technology have invested $118M each in SoftBank Robotics: 5%+ investor shareholders include Alibaba (20%), Foxconn (20%), and SoftBank holds a 60% stake.  
  • The company is struggling to grow revenues, and the business is structurally unprofitable. However, SoftBank Robotics announced RI strategy with plans to introduce a new series of smart robots.  

Geek+: Global Leader in Smart Logistics Robotic Technology

By Andrei Zakharov

  • Geek+ is the fastest-growing robotics startup and producer of warehouse robots powered by AI and deep learning algorithms. The company successfully integrates logistics with robots. 
  • Beijing-Based Geek+ has raised a total of ~$532M in funding over 7 rounds. The last round was a $100M Series E in August 2022 that was led by Intel Capital. 
  • Warehouse robots have a huge market potential driven by rising labor costs in China, lack of human labor in the warehouse segment, and huge fluctuations in production capacity. 

HAI Robotics: The Pioneer and Leader in ACR Robot Market

By Andrei Zakharov

  • Founded in 2016 by Richie Chen and Shengdong Xu, HAI Robotics is a pioneer in ACR systems and warehouse automation robotics unicorn.  
  • HAI Robotics offers flexible automation solutions to improve efficiency while reducing costs. The company’s vision is to utilize robotics to create and deliver value to each factory and warehouse. 
  • China is the hub for the production of AMRs and ACRs, easing the workforce shortage, improving operational efficiency, saving additional storage, and handling a wide range of SKUs. 

XPeng Robotics: Early-Stage VC Investment in Developer of Smart Robot Pony

By Andrei Zakharov

  • XPeng Robotics is a bionic smart robot maker backed by Chinese EV giant XPeng and high-profile investor IDG Capital. The company focuses on AI, robot autonomy, and interaction.
  • Founded in 2016 and headquartered in Shenzhen, XPeng Robotics is an affiliate of XPeng, with R&D centers in Beijing, Guangzhou, and Silicon Valley. 
  • Bloomberg reported that $100M+ Series A financing was the largest single-tranche fundraising for the bionic robot sector in China in the past two years. 

Gaussian Robotics: Leading Provider of AI-Powered Cleaning Robots

By Andrei Zakharov

  • Gaussian Robotics sells a new generation of autonomous cleaning robots that can be applied in office buildings, shopping malls, indoor galleries, hotels, schools, healthcare facilities, and warehouses.  
  • Shanghai-Based unicorn wants to disrupt the cleaning industry with automation, promoting the use of low-cost autonomous cleaning robots worldwide. 
  • The company owns the world’s most advanced commercial cleaning robot portfolio offering cost-effective smart robotic solutions to 2,000+ customers in 40+ countries across 6 regions.

MegaRobo: China-Based Disruptor in Life Science Automation

By Andrei Zakharov

  • MegaRobo is a leader in life science automation, founded in 2016 by CEO Daniel Huang and CMO Zhixin Qiao. The company reached a unicorn valuation of $1B+ in 2022. 
  • MegaRobo wants to improve the efficiency of life sciences research by using robotics and AI technology. In June 2022, AI and robotics unicorn closed the $300M Series C round.    
  • Using AI in R&D drug discovery is gaining traction. The global lab automation market is a ~$5B opportunity and is expected to reach ~$9.4B by 2030. 

UBTech Robotics: China’s Global AI and High-Tech Robotics Unicorn

By Andrei Zakharov

  • UBTech Robotics is a pioneer in AI and leader in intelligent humanoid robots. The company commercialized robots for consumers with a mission to deliver the affordable robot to each family. 
  • UBTech Robotics has raised ~$940M in equity financing and closed an $820M Series C round in May 2018, the single largest funding ever for AI private company.
  • We were impressed by healthy growth at scale, diversified business lines, core AI and robotics technologies, and strong partnerships with Tencent, Apple, and Walt Disney. 

Keenon Robotics: Innovative Chinese Maker of Indoor Robots

By Andrei Zakharov

  • Keenon Robotics is a China-based manufacturer of commercial service robots and one of the largest players in serving F&B in China’s robotics market.   
  • Keenon Robotics has raised a total of ~$244M from SoftBank Vision Fund, Prosperity7 Ventures (Aramco Ventures), CICC Alpha, and VC investors. 
  • VC-Backed robotics startups raised $17.1B in 2021, up from $6.3B in 2020, according to Crunchbase. As of May-22, robotics venture financing totaled ~$4.3B year-to-date, down ~27% y/y.  

Dobot: Make Smart Manufacturing Accessible

By Andrei Zakharov

  • Dobot is a Chinese manufacturer and leading provider of all-perceptive intelligent robotic arms backed by top-tier investment bank CICC and high-profile investors.   
  • Dobot has raised a total of ~CN¥490M in funding over 3 rounds. Investors include Qianhai Fund of Funds, Shenzhen Capital Group, CICC, Potential Capital and Green Pine Capital Partners.
  • The global industrial robotics market is an $80B+ opportunity. The number of robots installed in the automotive industry in China has doubled in 2021.

ROKAE Robotics: Founder-Led Supplier of Flexible Cobots and Lightweight Industrial Robots

By Andrei Zakharov

  • ROKAE Robotics is a Beijing-based supplier of next-generation flexible cobots and lightweight industrial robots backed by Chinese conglomerate New Hope Group and VC investors. 
  • ROKAE Robotics has raised a total of ~CN¥900M in funding over 5 rounds. The last round was a CN¥400M private equity in May-21 that was led by New Hope Group. 
  • The company operates a manufacturing industrial park in Shandong province with an annual output of 50,000+ robots. 

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Daily Brief Private Markets: HK Fintech Firm Banks $40m in Series A Money and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • HK Fintech Firm Banks $40m in Series A Money
  • Agritech Startup Raises $1.8m Pre-Seed, Largest in Bangladesh
  • Ex-Gojek VP’s Mobile Café Network Jago Nets US$2.2M Pre-Series A
  • KYAN Therapeutics Bags US$5M to Bridge the Cancer Care Gap Using Tech

HK Fintech Firm Banks $40m in Series A Money

By Tech in Asia

  • Hong Kong-based Reap, a B2B fintech firm, has raised US$40 million in a series A funding round
  • Founded in 2018 by Daren Guo and Kevin Kang, Reap’s platform helps users access payables management as well as international payments and collections.
  • Through its data, the firm is able to lower costs for operating companies

Agritech Startup Raises $1.8m Pre-Seed, Largest in Bangladesh

By Tech in Asia

  • Agroshift, a Bangladesh-based agritech startup, raised US$1.8 million in a pre-seed round
  • Agroshift is an agricultural supply chain platform that helps farmers sell produce through demand aggregation, sourcing, and delivery.

  • Agroshift sets up digital ordering systems in factories, which workers order produce from. The firm aggregates these orders to farmers, then drops off the items at partnered factories.


Ex-Gojek VP’s Mobile Café Network Jago Nets US$2.2M Pre-Series A

By e27

  • Jago offers a hyperlocal approach to retail by serving neighbourhoods within a 1-2km radius to prepare and deliver fresh beverages within minutes quickly
  • Jago, an Indonesia-based mobile café network, today announced the completion of a US$2.2 million pre-Series A round of financing
  • The funds will be directed towards expanding to over 200 mobile cafés, covering 20 hyperlocal areas in Jakarta. The company will also strengthen its core team in operations and technology.

KYAN Therapeutics Bags US$5M to Bridge the Cancer Care Gap Using Tech

By e27

  • From drug development to personalised medicine, KYAN Therapeutics offers a solution to identify the optimal outcome for millions of possible drug-dose combinations
  • Singapore-based KYAN Therapeutics, a biotech company with novel personalised medicine and drug-dose combination optimisation technology, has closed a US$5 million oversubscribed pre-Series A funding round.
  • KYAN will use the funds to advance clinical development, expand lab infrastructure and treat more patients globally.

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Daily Brief Private Markets: India EdTech Woes: Waning Demand and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • India EdTech Woes: Waning Demand, Dried up Funding & Risk of Eroding Valuations

India EdTech Woes: Waning Demand, Dried up Funding & Risk of Eroding Valuations

By Devi Subhakesan

  • BYJU’S (1391510D IN), the world’s most valued online learning company, shocked the street with reported losses of USD576 mn on revenues of USD286 mn for the year ending March2021.
  • Post-Pandemic return to school has reset growth trajectory for India’s blooming EdTech sector that thrived during COVID times attracting multi-billion dollar valuations.
  • Industry wide layoffs and few shut downs have raised concerns on growth prospects for edTech players and sustainability of their boom period valuations. 

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Daily Brief Private Markets: East Ventures Pours Seed Funding into Indonesian Online Kitchen Startup and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • East Ventures Pours Seed Funding into Indonesian Online Kitchen Startup
  • Fazz Secures US$100M Series C to Grow Its Lending Services, Expand Team in SEA
  • Glife Technologies Raises US$3M Series A+ to Connect Restaurants with Farmers
  • SG Fintech Firm M-Daq Expands into Japan with New Office

East Ventures Pours Seed Funding into Indonesian Online Kitchen Startup

By Tech in Asia

  • Food delivery is the digital sector with the highest adoption in Southeast Asia. The pandemic gave the segment a huge boost, as people were forced to stay at home.
  • Local food startup Uena tried to solve this by building a network of online kitchens that can deliver these meals directly to customers.
  • It targets lower and middle-income segments, such as office workers, university students, convenience store employees, and couriers of food delivery apps.

Fazz Secures US$100M Series C to Grow Its Lending Services, Expand Team in SEA

By e27

  • Fazz claims it saw US$10B in annualised transaction volumes over the past year and looks to double the volumes in the next 12 months
  • Fazz, a digital financial services group dual-headquartered in Singapore and Indonesia, has announced a US$100 million Series C funding round.
  • Fazz will use the funds to grow the business and expand its teams in Singapore, Indonesia, Malaysia, Vietnam and Taiwan from 800 to 1,400.

Glife Technologies Raises US$3M Series A+ to Connect Restaurants with Farmers

By e27

  • Glife Technologies aggregates demand for food produce from restaurants and match it with suppliers, giving restaurants better access to a variety of products
  • Singapore-headquartered Glife Technologies, a B2B marketplace to connect restaurants with farmers, has extended its Series round with a US$3 million investment from Tin Men Capital.
  • Glife will use the fresh funds to accelerate the launch and operations of its digital marketplace for F&B suppliers and merchants in Q42022 and enlarge its market share in the Indonesian market.

SG Fintech Firm M-Daq Expands into Japan with New Office

By Tech in Asia

  • M-Daq Global, a Singapore-based fintech firm that provides forex solutions, has opened an office in Japan as part of its international expansion plans.

  • The move comes after the company expanded into European markets by signing an agreement with London-based trading platform Turquoise to provide multiasset services.
  • The company has processed over US$32 billion in cross-border transactions over 45 markets since the launch of its Aladdin FX ecommerce solution in 2016.

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Daily Brief Private Markets: Circles.Life: A Fully Virtual Mobile Operator Targeting APAC’s Digital Natives and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Circles.Life: A Fully Virtual Mobile Operator Targeting APAC’s Digital Natives
  • East Ventures Leads $26m Round of Indonesian Agritech Firm
  • Japan’s Corporate IT Operations Firm JOSYS Nets US$32M Funding, to Expand to Singapore
  • Vietnamese D2C Apparel E-Commerce Startup Coolmate Banks US$2.3M, Plans IPO in 2025
  • Japanese Virtual Office Platform Raises $32m for Market Expansion

Circles.Life: A Fully Virtual Mobile Operator Targeting APAC’s Digital Natives

By Alec Tseung

  • A fully virtual mobile operator which leases its 4G/5G networks to provide digital mobile services targeting mainly young digital natives. 
  • Circles.Life is known for offering very flexible plans with highly competitive pricing; it also offers its proprietary tech platform, Circles Global, as a B2B SaaS product.
  • It was reported to be in early talks with a SPAC for a potential merger in July this year.

East Ventures Leads $26m Round of Indonesian Agritech Firm

By Tech in Asia

  • Gokomodo, an Indonesia-based agriculture supply chain platform, said it earned US$26 million in a series A round led by East Ventures.
  • Gokomodo is a B2B startup that offers digital procurement, digital commerce, and distribution services.
  • Its clients also have the option of buying competitive products through the company’s ecommerce storefront.

Japan’s Corporate IT Operations Firm JOSYS Nets US$32M Funding, to Expand to Singapore

By e27

  • JOSYS is a B2B platform that streamlines corporate IT operations through automated management of IT devices and SaaS applications
  • JOSYS, a Japanese company offering a B2B SaaS platform for corporate IT operations, has raised US$32 million in a funding round led by Global Brain Corporation
  • With this money, JOSYS — a spin-off of the Tokyo Stock Exchange-listed RAKSUL — plans to strengthen its development wing in India and sales structure in Japan

Vietnamese D2C Apparel E-Commerce Startup Coolmate Banks US$2.3M, Plans IPO in 2025

By e27

  • Coolmate says it has tripled its revenue over the past year and is on track to hit the US$19 million revenue milestone in 2022.
  • As Vietnam’s e-commerce is expanding quickly and the country’s robust textile and garment industries are transforming through more consolidated value chains, Coolmate will utilise the new capital to achieve its 2022 sales target and plan for an IPO in 2025.
  • Founded in early 2019, Coolmate employs the D2C e-commerce model (providing products directly through online channels) to cut the distribution costs in traditional retail.

Japanese Virtual Office Platform Raises $32m for Market Expansion

By Tech in Asia

  • Japan-based virtual office platform oVice has secured US$32 million in series B funding from an unspecified group of local and overseas investors.
  • Launched in 2020, oVice’s software provides customizable virtual offices, classrooms, and event venues for companies disrupted by the pandemic.
  • Currently, the firm has reported over US$6 million in annual recurring revenue and said it has long-term contracts with over 2,200 organizations.

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