Data Vantage | Cariuma, SwipeRx, Zepto, Bizhare and NirogStreet in focus

Edition #387, 4 July 2024

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Dear Reader,

Singapore-registered sneaker maker Cariuma issued shares worth [redacted] million this week to investors, including Madrone Capital Partners, [redacted], Brazil-based Innova Capital, Heliconia Capital, [redacted] and East Ventures.

According to the company’s regulatory filings, it is currently raising a Series A-1 round. Based on the share price in the latest round, Cariuma has allotted shares worth [redacted] million to its Series A-1 investors.

The filing further shows that the company had inked a convertible note agreement with unspecified investors in 2023. It is likely that the remaining shares were issued to noteholders.

Cariuma had last raised around $16.5 million in a funding round backed by East Ventures in 2022.

Founded in Brazil by David Python and Fernando Porto, the company offers direct-to-consumer sneakers made from natural premium materials. Its website claims that it sources materials responsibly and maintains “ethical” factories.

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Other updates from DATA VANTAGE

Digital pharmacy network operator SwipeRx, formerly known as mClinica, received [redacted] million this week from Japan-based healthcare services provider M3, Inc. Last week, it had bagged $2 million from another Japanese firm, diabetes care products maker ARKRAY.

Nexus Venture Partners, [redacted], StepStone Group, Goodwater, and Lachy Groom bought shares in Indian quick commerce unicorn Zepto from its other shareholders this week. According to regulatory filings, [redacted] exited its investment in the company through one of these transactions. Last month, Zepto announced a $665 million round that bumped up its valuation to $3.6 billion.

Singapore-headquartered Aboitiz Data Innovation, the data science and artificial intelligence arm of Philippine holding company Aboitiz Group, has secured another $1.4 million from its parent company.

Australian venture capital firm Square Peg bought shares in Indonesian B2B fintech startup Paper.id this week from shareholders, including VC firm [redacted]. The company had announced raising an undisclosed amount in a Series B round led by Square Peg in June.

Jakarta-headquartered digital investment platform Bizhare received [redacted] million from Kejora-SBI Orbit, a joint vehicle of VC firm Kejora Capital and Japan-based financial services company SBI Holdings, last week.

Jungle Ventures-backed Indian healthtech startup NirogStreet more than doubled its losses in the financial year ended March 31, 2023, according to a recently filed financial statement. Its revenue increased by 77.7% during the period.

Singapore-based wallet-as-a-service infrastructure provider Web3Auth’s revenue more than quadrupled in the financial year ended December 31, 2022. The company also managed to curb its losses by 18% during the period.

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