Data Vantage | Float Foods, GXS Bank and SynPhNe secure capital; Lifepal gets new owner
Edition #339, 16 January 2024
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Singapore-based plant-based food company Float Foods has issued new shares to a group of investors, including DSG Consumer Partners, Insignia Ventures, Teja Ventures and Apricot Capital.
According to regulatory filings, the company has secured [redacted] million in fresh equity funding from Country Farms Sdn Bhd, a wholly-owned subsidiary of Malaysia’s Berjaya Group. Float Foods has also issued shares to noteholders, including investors who participated in its seed financing announced in 2021.
Founded by Vinita Choolani, the food tech startup offers plant-based egg alternatives under the OnlyEg brand.
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Other updates from DATA VANTAGE
Digital lender GXS Bank received $109.2 million from parent company Grab last week. The company, which is 60% owned by the Nasdaq-listed super app and the rest by telecom firm Singtel, became the first digital bank in Singapore to launch its services in August 2022.
Singapore-based SynPhNe, which offers a wearable solution to aid and assist stroke survivors and patients with disabilities, issued shares worth [redacted] million last week.
Edtech company BrightCHAMPS allotted shares worth [redacted] million to Aditya Gupta and Nhu Tran Le Thanh, the co-founders of live learning platform Schola, last week. Singapore-headquartered Schola was acquired by BrightCHAMPS last year in a $15 million cash-and-stock deal.
Walmart-owned Indian online marketplace Flipkart has invested $5.7 million in its Singapore-registered marketplace unit and another $2.1 million in its healthcare arm.
Livwell Asia, a digital health and protection-focused insurtech firm operating in Vietnam and India, received a fresh capital injection last week.
Ignite Thailand, the parent company of online insurance broker Roojai, acquired Indonesian insurtech firm Lifepal by buying out the latter’s shareholders, including ProBatus Capital, a venture firm backed by Prudential Financial, and Insignia Ventures, last week.
Indian seafood and meat marketplace FreshtoHome posted a 21.7% reduction in its net loss in the 12-month period ended March 31, 2023, along with a marginal dip in its revenue.
Little Farms, a Singapore-based grocery chain selling dairy, meat and fresh produce, saw its net loss surge 2.6x in the financial year ended December 31, 2022.
Industrial chemical membrane technology company SepPure Technologies recorded a 41.5% increase in its losses in the financial year ended December 31, 2022.
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