Data Vantage | DayaTani, Noomoo, Ketomei, PDAX and Mighty Bear report updates

DealStreetAsia
4 min readFeb 22, 2024

Edition #349, 22 February 2024

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Indonesian agritech solutions and financing provider DayaTani added Northstar Ventures, BRI Ventures and Gentree Fund to its cap table this week after receiving a fresh capital infusion of $900k.

The investment is part of the first tranche of the company’s $2.3 million seed funding round led by Ascent Venture Group, which was announced in January.

Launched in 2023 by Deryl Lu and Ankit Gupta, DayaTani’s approach includes the development of a semi-bionic agronomist agent equipped with various tools and technologies to solve farming problems. The startup has also launched the first version of its agricultural large language models chatbot in its field agent app.

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Other updates from DATA VANTAGE

Singapore-based plant-based dairy alternatives brand Noomoo allotted several investors new shares worth S$800,000 ($600k), nearly doubling its total paid-up capital. Launched in January last year, it currently offers variants of oat and coconut milk, with plans to expand its range to include soy and almond milk this year.

Dubai-based family office Simba Investments has bought shares in Singapore-headquartered healthtech company [redacted] from another existing shareholder.

Food tech startup Ketomei, which offers keto and other meal services, received [redacted] from Hapi Cafe Inc., a subsidiary of lifestyle company HWH International, this week. HWH completed its merger with blank-cheque firm Alset Capital Acquisition in January, and the combined entity now trades on the Nasdaq.

A vehicle backed by European investment firm [redacted] has pared its holding in biopharma company Travecta Therapeutics, per regulatory filings.

The parent company of the Philippines-based crypto exchange PDAX reported a 45% year-on-year drop in revenue for the financial year ended December 2022, causing its total comprehensive loss to surge nearly 24 times. Nichel Gaba, the company’s CEO, told DealStreetAsia that the crypto bear market impacted the firm’s 2022 financial performance and that PDAX seeks to turn profitable this year.

Indonesian D2C commerce firm Hypefast grew its annual revenue by 93% in 2022 due to a strong recovery in the consumer market. However, its losses widened due to soaring expenses.

Wagely, a financial wellness app serving the Indonesian market, experienced a significant business expansion in 2022, with its revenue growing by 275%. However, this growth was accompanied by a substantial increase in its losses.

Mighty Bear, a Singapore-based gaming studio, recorded a 25% drop in revenue in 2022 as the gaming industry adjusted to a change in user engagement in a post-pandemic market environment.

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