Data Vantage | 99 Group, Chope, Oatside, Chitose Bio Evolution and Thrixen in focus
Edition #392, 23 July 2024
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Dear Reader,
Proptech firm 99 Group, which owns and operates real estate portals in Singapore and Indonesia, saw shares change hands last week.
Venture capital firm Peak XV Partners, formerly known as Sequoia Capital India and Southeast Asia, exited its investment in the firm by selling its shares to [redacted].
Meanwhile, Hong Kong-based fund manager Gaw Capital has increased its stake in 99 Group by buying shares from ID4 Holdings, whose sole shareholder is [redacted]. The real estate investment manager, which first invested in the proptech firm in 2022, now owns nearly [redacted]% of it.
Other investors in 99 include East Ventures, Allianz X and MindWorks.
The proptech firm had last announced raising $11 million in a Series C round extension from Gaw Capital and OCBC NISP Ventura in 2023.
Is the funding winter for Indian startups over?
Private funding for startups in India touched an eight-quarter high of $5.2 billion in the second quarter of 2024, helped by a spurt in mega deals, finds the latest report from DealStreetAsia — DATA VANTAGE.
The second quarter proceeds marked a growth of nearly 100% over Q1 2024, according to India Deal Review: Q2 2024. At 333, deal volume was also up almost 15% from 290 in the previous quarter,
On a year-on-year basis, startup funding grew more than 61% from $3.22 billion in Q2 2023. Meanwhile, the deal value was up nearly 34% from the second quarter last year.
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Other updates from DATA VANTAGE
An affiliate of Nasdaq-listed super app Grab acquired all shares of online restaurant reservation platform Chope last week. The deal provided an exit to Chope investors, including Ant Group, Square Peg Capital and Openspace Ventures.
Singapore-based oat milk startup Oatside received [redacted] million from Temasek Holdings and [redacted] last week, bringing its Series B round total to [redacted] million.
AI, data science and operations technology company Azendian Solutions issued shares worth [redacted] million last week to SEEDS Capital, Heritas Capital, ST Engineering Ventures and other investors as part of a new round.
Dr Clear Aligners, a Singapore-headquartered provider of dental clear aligners, has raised $8 million in Series A funding from Insignia Ventures Partners.
Singapore-headquartered biotech firm Chitose Bio Evolution received $6.35 million in fresh funding from Japan’s Sumitomo Mitsui Banking Corp (SMBC) last week.
Singapore-based healthtech startup Thrixen received nearly $160k from early-stage investment firm 22Health Ventures last week. The latter also bought shares in the startup from other shareholders, according to regulatory filings. Thrixen recently announced raising $7 million in funding to develop a diagnostics platform for infectious diseases.
Online payment solutions provider Red Dot Payment received $3.2 million from parent PayU last week.
Philippines-based live-streaming startup Kumu reported a 3.7x increase in losses for the financial year ended December 31, 2022, shows a recent regulatory filing. Its revenue jumped 140% during the year.
Digital loan matchmaking platform Lendela reduced its losses by 16% in the financial year ended December 31, 2023, as its revenue surged over 90%.
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