Data Vantage | eFishery, Cleantech, Grow Commerce and ORA report updates

Edition #276, 25 May 2023

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Indonesian aquatech firm eFishery received $108 million this week from 42XFund, SoftBank Vision Fund II and Northstar Group in Series D funding, per regulatory filings.

Following the latest investment, the company’s valuation has jumped to $1.2 billion, according to DealStreetAsia — DATA VANTAGE calculations. eFishery is the first Southeast Asian company to attain the unicorn tag this year.

The company could raise up to [redacted] million more in this round, per its filings.

eFishery had last secured a $32 million loan from DBS Bank Indonesia in October 2022. It has ambitions to expand its products and services to international markets.

Cleantech Renewable Assets, a Singapore-headquartered solar energy platform focused on the commercial and industrial (C&I) 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 [redacted]% of Cleantech Solar, the asset company of Cleantech Renewable Assets. Shell Singapore owns the rest.

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Other updates from DATA VANTAGE

Indonesian online marketplace brand aggregator Grow Commerce issued shares worth [redacted] million to East Ventures and another investor this week upon conversion of notes issued in 2021.

Singapore-based telehealth startup ORA received a little over $662k from investors, including Gobi Partners and Hustle Fund, this week. The firm announced raising a $10 million Series A round last week.

Singapore-headquartered health monitoring tech startup Elfie issued shares worth [redacted] million to convertible noteholders, including FEBE Ventures, Gentree Fund and iSeed, last week. The startup recently secured $4 million in fresh funding.

Fintech startup Jenfi received $6.6 million from Headline Asia, Monk’s Hill Ventures and other investors in a pre-Series B funding round. The company specialises in revenue-based financing for digital-native companies.

Singapore-based edtech startup BrightCHAMPS reported a net loss of [redacted] million for the financial year ended March 31, 2022. Its revenue for the period stood at [redacted] million.

On-demand staffing platform Workmate, which was acquired by HR services provider Persol Asia Pacific last year, reported a 9.3% increase in its net loss for the financial year ended December 31, 2022. The company posted no revenue during the period.

Equity management platform QuotaBook posted a 15x surge in its net loss for the year ended Dec 31, 2022. It reported a small revenue for the year.

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