Data Vantage | eFishery, Raena and Xurya secure fresh capital, and other updates
Edition #141, 13 Jan 2022
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Dear Reader,
Indonesian agritech startup eFishery on Tuesday announced a $90 million Series C funding round led by Temasek Holdings, SoftBank Vision Fund 2 and Sequoia Capital India. The startup is now valued at nearly $385 million after the funding, per DealStreetAsia calculations.
As part of the round, the startup raised $80 million in fresh funding, according to its Singapore-registered entity’s filings with the Accounting and Corporate Regulatory Authority (ACRA). Additionally, it issued Series C shares worth $10 million to convertible noteholders including Dutch investment fund Aqua-Spark, Wavemaker Partners and Go-Ventures.
Top shareholders in eFishery
Source: DATA VANTAGE
This week, DealStreetAsia also reported that Indonesian beauty products reselling platform Raena has secured $10 million in a Series A extension. Investors in the round included Alpha Wave Incubation, AC Ventures, Alfamart and Alto Partners.
Raena’s share price has doubled since its previous financing in 2021, according to DealStreetAsia — DATA VANTAGE.
Other updates from DATA VANTAGE
Indonesian renewable energy startup Xurya on Wednesday announced that it has secured $21.5 million in a Series A funding round. Its regulatory filings show that the round comprised equity funding worth $11.5 million, which was previously reported by DealStreetAsia, and convertible notes.
In conjunction with the financing, the firm has issued Series A preference shares worth $2.5 million to convertible noteholders from a previous round. The lenders included Southeast Asia Clean Energy Facility (SEACAF) and Schneider Electric.
E-commerce enabler SELLinALL raised $2.98 million earlier this week from Catalyst One, which contributed as much as $2.58 million, and DA Consortium.
Return backer Accel India invested $500,000 in Travelstop, which provides solutions to manage business travel and expenses, this week. The startup also secured funding from Nirmal Holdings and other investors as part of the same round.
India’s Cashfree Payments bought out investors in Dubai-based fintech firm Telr this month to become its majority shareholder. The transactions provided an exit to investors including Hatcher, iMENA Group, Zuaiter Capital Holdings, Apollo Singapore Investments and Middle East-based e-commerce platform TiLa.
Cashfree, which is backed by India’s largest lender SBI, had in November 2021 announced that it was acquiring a majority stake in Telr for $15 million. According to DATA VANTAGE, the Indian firm now owns 98% of the e-commerce solutions provider.
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