Data Vantage | Fit Hub, Capital C, Manuva, Hangry and HeyAI in focus
Edition #400, 20 August 2024
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 Reader,
Indonesian fitness platform Fit Hub issued new shares to various investors, including Wavemaker Partners, Gentree Fund, Cercano Management and East Ventures, last week.
The company has now allotted shares worth [redacted] million so far this year at different share prices. DealStreetAsia had in June reported that the firm was in talks to raise fresh funding from Wavemaker, Cercano Management and other investors.
Founded in 2020 by William Tjajadi, Fit Hub aims to make fitness solutions accessible to middle- to low-income households in Indonesia. While the average gym membership in the archipelago costs $50 per month, Fit Hub charges $15–23. It operates more than 80 fitness centres across the country.
A message from Apex Group
Healthtech funding loses momentum
Funding for Southeast Asia’s healthtech sector, which had seen a boom after the pandemic, has waned in recent quarters, finds a recent report.
According to SE Asia Deal Review: Q2 2024, the number of healthtech deals in the first half of this year was the lowest since H1 2020. Meanwhile, the total private funding raised by the sector declined to $33 million in the second quarter, making the H1 proceeds the lowest in at least four years.
The biggest drag on the funding performance has been the telehealth category, which saw only one deal in the first half. Startups in the segment face tough competition from healthcare providers launching their own apps.
Equity funding for healthtech startups in Southeast Asia
The data and information in this newsletter comes from DATA VANTAGE, which tracks regulatory filings to provide you with the latest information on startup fundraising, shareholding and financials. Find out how it can aid you in your decision-making — book a demo today or write to us at subs@dealstreetasia.com
Schedule a free demo session now 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
Singapore-based financial services provider Capital C Corporation received $3 million from PhillipCapital last week. The capital injection is part of a S$74 million debt and equity round announced in 2022.
Manuva, an Indonesian manufacturing and supply chain platform formerly known as Tjetak, has issued shares worth [redacted] million to investors, including Tin Men Capital, Vertex Ventures Southeast Asia & India and [redacted]. The allotment follows the close of the first tranche of a new funding round.
Indonesian F&B firm Hangry allotted shares worth [redacted] million to Journey Capital Partners, Alpha JWC Partners and other investors last week. The startup had last announced a $22 million debt and equity round led by Journey Capital in 2022.
Singapore-headquartered Credify, which has pivoted to generative AI (GenAI) for enterprises and is now known as HeyAI, has received fresh capital from [redacted], BEENEXT, Japanese IT services provider [redacted], and AI-focused venture capital firm DEEPCORE. The startup’s flagship product is Concierge, which offers end-to-end inbound sales and customer care management.
Singapore-based Finture, the operator of credit payment platform YUP, received [redacted] million from investors, including Mindworks Capital, XVC, SWC Global, Richen Pioneer, and Antao Capital, this month. The capital injection is part of a $30 million round that will finance the firm’s expansion to new markets, including Hong Kong.
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
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 3,000 Asian venture-backed companies registered in Singapore and Indonesia
- Up to 3 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? Book a demo now to explore our database!<< © DEALSTREETASIA 2014–2024.
