Data Vantage | CapBridge, 1X get acquired; Cleantech, BondbloX and Allozymes pocket funding
Edition #297, 8 August 2023
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Singapore-based financial holding company FOMO Group on Monday announced the acquisition of digital wealth management platform CapBridge and 1exchange (1X), a private securities exchange.
According to regulatory filings, FOMO Group bought an over [redacted]% stake in both CapBridge and 1X from CapBridge Financial Group. Shareholders in the seller include CapBridge Cornerstone, which is majority-owned by CapBridge founder and CEO Johnson Chen, as well as South Korean conglomerate Hanwha and Hong Kong-based AMTD Group.
Separate filings showed that FOMO Pay, a fintech company under the FOMO Group, has allotted shares worth [redacted] million to CapBridge Financial, indicating the deal likely includes a stock swap.
Cleantech Renewable Assets (CRA), a Singapore-headquartered solar energy platform focused on the commercial and industrial segment, received [redacted] million from Cloud Alpha Pte and Shell Singapore this week.
Cloud Alpha is backed by Keppel Corporation and a Keppel Capital consortium. It owns 75.5% of Cleantech Solar, the asset company of Cleantech Renewable Assets. Shell Singapore owns the rest.
CRA had earlier received [redacted] million from the two shareholders in May.
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Singapore-based fintech company BondbloX, formerly known as BondEvalue, received $2.25 million from MassMutual Ventures Southeast Asia, Citigroup and Rahul Banerjee, who co-founded the startup, last week. The company is seeking to raise up to $10 million in new funding, per its regulatory filings.
Singapore-headquartered deep tech startup Allozymes allotted shares worth [redacted] million last week to Xora Innovation, an early-stage investment platform of Singapore’s Temasek Holdings, and France-based Seventure Partners, among other investors. The startup is raising its Series A round in tranches.
Engineering and tech company Evercomm, which helps enterprises calculate and monitor their carbon emissions, has received [redacted] million from Mitsubishi Electric Corporation and Luxembourg-based Cycle Group. The startup was recently declared one of the winners of the Singapore GreenTech Challenge 2023, which was organised by Microsoft, Singapore’s Infocomm Media Development Authority (IMDA), and SGTech.
Biotech company Entobel, which rears black soldier flies to produce insect protein as a feed ingredient primarily for the aquaculture industry, received fresh capital last week. The company had recently announced securing an undisclosed amount from the International Finance Corporation (IFC).
Cybersecurity software company Bitdefender bought out all shareholders of Singapore-based Horangi Cyber Security last week. The companies had announced the acquisition in June.
Indonesian SaaS startup McEasy, which caters to the logistics and supply chain industry, has received [redacted] million from East Ventures and Triputra Group. The company had announced a $6.5 million Series A round last year.
Singapore-based creator tech company Animeta received a capital infusion last week. The company’s founding shareholders include Rajesh Kamat, the managing director of KKR’s Asian media and entertainment platform Emerald Media, and serial media entrepreneur Sameer Manchanda.
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