Data Vantage | Campana, Coolmate, Singrow and CarbonEthics in focus
Edition #420, 31 October 2024
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Dear Reader,
Singapore-headquartered fixed-line and internet gateway operator Campana Group issued ordinary shares worth $16.6 million last week to existing shareholders.
The largest allocation, worth [redacted] million, went to [Redacted], followed by Singapore-based private equity firm Tello Capital ([redacted] million).
Other shareholders that received shares include Campana founder and chairman Myint Ohn, Tingkas Zacharias and ICT company [Redacted].
Following the latest transactions, [Redacted] and Tello are the two largest shareholders in Campana. Japanese trading and investment firm Mitsui, which co-led the digital infrastructure operator’s $40 million Series B round in 2018, holds a minority stake.
According to a recent Australian Financial Review report, the Southeast Asian firm has postponed a planned listing on the Australian bourse via a reverse takeover to next year.
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Blockchain rages on
Blockchain continues to drive substantial investments into enterprise software and IT startups in Southeast Asia, showcasing its transformative potential across various sectors beyond fintech, according to DealStreetAsia’s latest quarterly report.
In the first nine months of 2024, enterprise software and IT startups closed 55 deals, reflecting a 52.8% year-on-year increase, with a significant portion of the investment flowing into blockchain-focused companies.
With nearly 90% of all deals in enterprise software and IT being blockchain-related, industry analysts believe the technology will play a critical role in reshaping fields such as AI, cybersecurity, and decentralised networking.
A notable deal this year involved Singapore-based Edge Matrix Computing, which raised $20 million in August to develop an AI-driven Layer 1 blockchain network.
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Other updates from DATA VANTAGE
Vietnam-based direct-to-consumer e-commerce platform Coolmate received $6 million in Series B funding from Vertex Ventures Southeast Asia & India and Kairous Capital this week.
Asia Genomics, a Singapore-based healthtech company specialising in clinical genomics and genetic testing, issued new ordinary shares worth [redacted] million last week to venture capital firms Formation 8, Raffles Venture Partners, SEEDS Capital and others.
Singapore-based agritech startup Singrow issued ordinary and preference shares worth [redacted] million to new and existing shareholders, including Ritz Venture Capital, AgFunder and [Redacted], last week.
ObvioHealth, a US- and Singapore-based virtual research organisation, has issued shares worth $3.2 million to [Redacted] to pay outstanding accounts payable.
Indonesian climate tech startup CarbonEthics issued shares worth [redacted] million to venture capital firms Intudo Ventures and Spiral Ventures, venture builder Ecoxyztem, and others last week. Intudo led the firm’s recent $2.1 million round, while Spiral and Ecoxyztem received conversion shares under agreements signed last year.
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