Data Vantage | bbp, ADDX, ACM Biolabs and YOU file funding updates
Edition #210, 22 Sep 2022
Dear Reader,
Singapore-based energy efficiency solutions provider bbp, formerly known as Barghest Building Performance, secured S$4.9 million ($3.5 million) from existing backer KKR & Co last week.
The company, which rebranded itself in July, will receive the money from the private equity firm in two tranches, according to its filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA). It received the first tranche of $1.75 million last week.
Founded in 2012, bbp provides energy savings solutions for heating, ventilation and air-conditioning systems in commercial and industrial buildings. Its clients include Hewlett-Packard, Micron Technology, 3M, Shangri-La, Changi Airport Group and HSBC, according to its website.
KKR had announced a S$45 million ($32 million) investment in bbp in 2018 in its first impact investment globally. According to DATA VANTAGE, the Singapore firm has so far received $20.1 million in equity funding from the buyout firm, which is its largest shareholder.
When contacted, KKR declined to comment.
Meanwhile, private market exchange ADDX received an additional $5 million from Krungsri Finnovate this week as part of a $58 million pre-Series B round announced in May. The corporate venture capital arm of Krungsri (Bank of Ayudhya) had pumped in $5 million earlier as part of the round, which was joined by SET Venture Holding, a subsidiary of the Thai stock exchange; United Overseas Bank; and Hamilton Lane.
The company had earlier said it plans to make inroads into the Thai market with the help of its new strategic backers and expand into new business segments such as crypto custody.
Other updates from DATA VANTAGE
ACM Biolabs, which focuses on developing immunotherapies and vaccines, received $6.8 million from investors, including Ritz VC, this week.
NextBillion.ai, a location and geospatial SaaS company, received $3 million from Mirae Asset this week as part of a $21 million Series B round announced in May.
Indonesian vitamin maker YOU has raised over $820,000 from DSG Consumer Partners and other investors in fresh funding.
Stock trading platform Marketwolf received $500,000 from Jungle Ventures this week as part of its $10 million Series A round announced in July. The Singapore VC, which was the lead investor, has so far invested $3.5 million as part of the round.
Restaurant booking platform Chope reported a 12% increase in revenue in the financial year ended December 31, 2021. Its losses surged during the period.
Blockchain analytics startup Nansen reported revenue of $3.4 million and a profit of $1.44 million in the financial year ended Sept 30, 2021.
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