FinAccel Pte, which extends credit to online shoppers in Indonesia under the Kredivo brand, has raised $90 million of expansion capital in a fundraising round valuing the company at almost $500 million. South Korea’s Mirae Asset-Naver Asia Growth Fund and Australian venture capital firm Square Peg co-led the Series C financing, according to FinAccel Chief Executive Officer Akshay Garg. Other…
Singapore-based dental startup Zenyum has raised US$13.6 million in series A funding from RTP Global, Sequoia India, TNB Aura, and Enterprise Singapore’s Seeds Capital, among other investors. Zenyum plans to use the fresh funds to fuel its expansion plans to markets like Vietnam, Indonesia, and Taiwan. It currently operates in Singapore, Hong Kong, Malaysia, and Thailand. Founded in 2018, Zenyum…
Singapore-based smart mobility startup Ministry of Movement has closed a US$10.1 million series A funding round led by The University of Tokyo Edge Capital 4 Limited Partnership to grow and expand overseas. New investors SMRT Momentum Ventures, ComfortDelGro Ventures, Singapore Economic Development Board’s New Ventures, EDBI, and LKJ Capital Japan also participated in the round, alongside existing investors iGlobe Platinum…
Singapore-based wastewater treatment startup Hydroleap has secured S$2.6 million (US$1.9 million) in a funding round led by Wavemaker Partners. Other investors including Enterprise Singapore’s Seeds Capital and 500 Durians (500 Startups’ Southeast Asia fund) also participated in the round. Founded by Mohammad Sherafatmand, Hydroleap provides a cost-effective and environmentally friendly solution for wastewater treatment, which is traditionally done by adding…
SINGAPORE-BASED wastewater treatment startup Hydroleap has raised S$2.6 million in a funding round led by Wavemaker Partners. Other investors included Seeds Capital and 500 Startups’ South-east Asia-focused 500 Durians fund. The startup will use the funds to take its electrical wastewater treatment technology to industrial parks, mining, palm oil and semiconductor industries, it said in a media release on Monday.…
ONLINE marketplace operator Carousell has agreed to merge with 701Search, the classifieds firm owned by Norwegian telco Telenor Group, in a deal that values that Singapore-based startup at over US$850 million. Following the part-cash, part-equity deal, Telenor will be Carousell’s new single-largest minority shareholder, with a 32 per cent stake in the combined company. 701Search's three online marketplaces - Mudah…
Singapore-based healthtech startup Lucence has raised US$20 million in a series A round led by global healthcare provider IHH Healthcare. SGInnovate also participated in the round, along with existing investors such as Temasek Holdings subsidiary Heliconia Capital, Lim Kaling, and Koh Boon Hwee. Lucence uses liquid biopsy, a blood-based technology that’s less invasive than tissue biopsies, to help clinicians analyze…
The startup, founded in 2014, operates an online gift card platform that serves both business-to-consumer and business-to-business markets. It offers gift vouchers from more than 100 food and beverage, lifestyle, and beauty brands, according to a statement. It also provides users with an array of gifting options from various merchants in Singapore, such as yoga sessions at Freedom Yoga, a…
Venture capital investors are flocking to Singapore despite uncertainty around U.S.-China trade relations, even as businesses hold back spending, according to Peter Ong, chairman of Enterprise Singapore. Protracted trade tensions have not affected investor willingness to pump billions of dollars into young companies because their investment horizon goes beyond the current environment, Ong said in an interview on the sidelines…
Singapore fintech startup M-DAQ Pte won the backing of Samsung Group’s venture capital fund in a bid to expand in South Korea and beyond. With Samsung’s investment in its pre-series D round, the company’s valuation will exceed S$500 million ($368 million), up from S$250 million in November 2015, according to Chief Executive Officer Richard Koh. M-DAQ didn’t disclose the amount…