Data Vantage | Chitose Bio, Chickin, Thunes and GenZero in focus
Edition #414, 10 October 2024
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Dear Reader,
Chitose Bio Evolution, a Singapore-based biotech company and the holding entity of the CHITOSE Group, received [redacted] million from Japanese printing company Toppan Holdings this week.
The company had earlier secured [redacted] million from Mizuho Bank, JAFCO Asia and NSK Ltd in September. The latest transaction brings its total funding secured this year to over [redacted] million, including [redacted] million from Sumitomo Mitsui Banking Corp (SMBC) in July.
Chitose Bio has previously stated that it aims to raise $94.2 million in total funding by 2025.
Established by Fujita Tomohiro, Furusawa Mitsuru, and Nakahara Ken in 2013, the CHITOSE Group conducts R&D and business development in various fields, such as microalgae, cells, fermentation, agriculture, and intestinal bacteria. It has subsidiaries in Japan, Singapore, Malaysia, and Brunei.
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Other updates from DATA VANTAGE
Indonesian poultry startup Chickin issued fresh shares this week to investors, including Granite Asia, Integra Partners and East Ventures, as part of a new Series A round. The firm had last announced raising an undisclosed amount in a seed round led by East Ventures in 2022.
Cross-border payments company Thunes has issued additional ordinary shares to the founders of Limonetik, a European payments company it acquired in 2021 for [redacted] million euros and subsequently renamed as Thunes Collections. The founders — Christophe Bourbier, Olivier Berthelier, and Hassan Issa — had previously received over [redacted] million Thunes shares as part of the deal.
Temasek-backed GenZero, an investment platform company focused on accelerating decarbonisation, saw its revenue slide 64% in the financial year ended March 31, 2024. Its net loss ballooned to [redacted] million from $0.15 million in the previous fiscal.
Online fashion retailer ZALORA’s Singapore business saw its losses increase 9.7 times in the financial year ended December 31, 2023. The unit’s revenue grew 47.6% during the period.
TPG-backed Pathology Asia, one of the largest diagnostic services providers in Southeast Asia, went into the red in the financial year ended December 31, 2023, after at least two profitable years. Its revenue declined marginally last year.
LionsBot, a Singapore-headquartered maker of smart cleaning robots, experienced a nearly [redacted]% increase in losses for the financial year that ended December 31, 2023, while its revenue stayed flat.
Anti-money laundering and compliance technology firm Tookitaki, which is majority owned by fintech firm Thunes, reduced its losses by [redacted]% in the financial year that ended December 31, 2023. Its revenue increased by over 77% during the period.
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