Data Vantage | Finmo, Baskit, The Golden Duck and DotBio update cap table

Edition #301, 22 August 2023

Share As a free subscriber, you’re reading a redacted version of DealStreetAsia’s premium DATA VANTAGE twice-weekly newsletter. Unlock access to the complete version by picking up any of our premium subscription plans.

Dear *|IF:FNAME|**|FNAME|*,*|ELSE:|*Reader,

Digital payments platform Finmo issued shares worth [redacted] million to investors, including Alumni Ventures, Rocket Internet, Soma Capital and Global Founders Capital, last week.

The latest share allotment is understood to be part of its seed round. The startup had earlier secured [redacted] million as part of the round from Insignia Ventures in June.

Finmo facilitates instant money transfers and cash management, including forex solutions, for merchants. The startup received a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore earlier this month, marking its official entry into the market.

It had announced raising $3.5 million in pre-seed financing in September 2021.

Baskit, an Indonesian startup focused on digitising offline distribution infrastructure in the country, issued shares worth $5.2 million to investors that participated in different tranches of its seed financing.

Recipients include Betatron, Forge Ventures, Investible, 1982 Ventures and a co-GP tech fund of Golden Equator Capital and Korea Investment Partners (KIP).

Baskit was founded in November 2022 to address Indonesia’s often ineffective traditional distribution chains riddled with middlemen and a lack of data visibility.

The company announced raising $1.5 million in March and another $3.3 million in June as part of its seed round. KIP joined the round in August, according to regulatory filings.

Executives at top investment, financial services firms and businesses use DATA VANTAGE to make smarter investment decisions in Asia. (See how)

Other updates from DATA VANTAGE

Singapore-based gourmet snacks company The Golden Duck bagged [redacted] million in fresh funding from Malaysian FMCG major Mamee-Double Decker and other investors last week. The investment makes Mamee the largest shareholder in the startup.

Singapore-based biopharmaceutical company DotBio has allotted shares to Proxima Ventures, Gaorong Capital, Hong Kong-listed biotech firm CStone Pharmaceuticals, and other investors. The startup recently announced raising $5.6 million in pre-Series A funding.

Vietnamese paediatric clinic chain Nhi Dong 315 issued shares worth [redacted] million to a new shareholder last week.

Wastewater treatment firm Hydroleap received a capital infusion from the government of the Australian state of Victoria and the ME Innovation Fund, a corporate venture capital fund of Mitsubishi Electric managed by Global Brain, last week. The investment is part of the startup’s $4.4 million Series A round.

Singapore-based fintech company BondbloX received [redacted] from Singapore-based single-family office Octava last week.

Clinical-stage T-cell immunotherapy company Lion TCR received fresh capital last week. The firm had announced a $40 million Series B2 round led by the Guangzhou Industrial Investment Fund in June.

As a free subscriber, you’re reading a redacted version of DealStreetAsia’s premium DATA VANTAGE twice-weekly newsletter. Unlock access to the complete version by picking up any of our premium subscription plans. Anticipate Asia’s Rising Stars and Secure Lucrative Exits

Explore DATA VANTAGE (formerly Professional Plan), an indispensable part of an analyst’s Swiss Army Knife.

To keep pace with today’s constantly evolving markets, data must be smarter, deeper, and instantly accessible. DATA VANTAGE is our smart, continuously updated research & analytics platform featuring:

• Key financials, fundraising data, and shareholding information for over 2,500 Asian venture-backed companies registered in Singapore and Indonesia
• Up to 4 new research reports per month
• Monthly and quarterly data on private funding in SE Asia, India, and Greater China
• Twice-weekly DATA VANTAGE premium newsletter
• Alerts for monitoring companies and sectors
• 50% discount on tickets to our flagship summit
• Full access to DealStreetAsia’s premium stories and archives

Combine editorial insights with robust data & research. Gain a competitive edge in the ever-changing private capital investment landscape.

>> Curious? Read More About DATA VANTAGE << © DEALSTREETASIA 2014–2023.