Data Vantage | Colourette, Waresix, HipVan and Noctua Games in focus
Edition #394, 30 July 2024
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Dear Reader,
Philippines-based D2C beauty brand Colourette issued shares worth [redacted] million last week to investors, including venture capital (VC) firms DSG Consumer Partners and Foxmont Capital Partners, and [redacted].
The allotment follows the recent close of a $2 million round led by DSG Consumer Partners. The startup had earlier raised an undisclosed amount in seed funding from Foxmont Capital in 2022.
Founded by Nina Ellaine Dizon-Cabrera in 2015, Colourette is a cosmetics brand that specialises in multi-use makeup with vegan and paraben-free formulas. It was developed specifically for Filipino users, keeping in mind their lifestyle, budget and diverse skin tones.
According to some estimates, the beauty and personal care market in the Philippines will be worth $6 billion by 2026.
Top shareholders in Colourette
Source: DATA VANTAGE
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SE Asia’s startup funding drought persists
Private funding raised by Southeast Asia’s startups remained tepid in the first half of 2024, finds the latest report from DealStreetAsia — DATA VANTAGE.
The total equity funding raised by regional startups in H1 plunged to $2.29 billion — the lowest haul in more than five years, according to SE Asia Deal Review: Q2 2024. Deal volume declined 13% year on year to 340 during the period.
Indonesia’s performance worsened in the second quarter, the report found, as its deal count reached a more than five-year low and total proceeds reached a mere $52 million. The country trailed Singapore, Thailand and the Philippines in deal value in Q2.
Source: SE Asia Deal Review: Q2 2024 Executives at top investment firms, financial services majors, and leading private companies use DATA VANTAGE to make smarter investment decisions in Asia. (See how)
Other updates from DATA VANTAGE
VC firm [redacted] bought additional shares in Indonesian logistics company Waresix from its founders, Andree Susanto and Edwin Wibowo, last week. It is the firm’s [redacted] shareholder.
Singapore-based online furniture retailer HipVan received $2.2 million from its parent company, South Korea-based home and living marketplace operator Bucketplace, last week.
Noctua Games, the online gaming arm of Southeast Asian gaming organisation ATTN, received [redacted] million last week from investors, including Philmon Samuel Tanuri and Zhang Hu. The latest transaction brings its current round total to [redacted] million.
Cybersecurity startup Silence Laboratories has allotted shares worth $71,428 to SUTD Ventures Holdings, an incubator owned by the Singapore University of Technology and Design. The company, which specialises in developing multiparty computation (MPC) infrastructure, announced in March that it had secured $4.1 million in pre-Series A funding.
Singapore-based cloud communications provider Toku issued shares worth $950k last week to Delivery Hero Ventures, FrontCap Asia and Riccardo Boido.
Singapore co-working space company JustCo reduced its losses by 64% in the financial year ended December 31, 2023, as its revenue grew 15% to [redacted] million.
Indonesian e-commerce enabler SIRCLO acquired investment firm Pavilion Capital’s shares in retail tech startup Warung Pintar last week. SIRCLO had announced Warung Pintar’s acquisition in 2022.
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