Data Vantage | Fresh funding for PDAX, Atlan and Nium, and other updates
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Edition #148, 10 Feb 2022
Dear Reader,
Data collaboration startup Atlan bagged $46 million this week from investors including Insight Partners and Sequoia Capital India, according to regulatory filings.
The startup, which has offices in India and Singapore, is expected to receive additional funding as part of the round.
Atlan’s shares in the latest round were priced at $269.79 apiece, up nearly four times from its last fundraising in 2021, according to DATA VANTAGE. The latest transactions push Atlan’s valuation to at least $446 million, or nearly halfway to unicorn status.
Philippine crypto exchange PDAX secured fresh funding this week from New York-based Tiger Global. The latest capital infusion takes the startup’s Series B total to a little over $41 million.
The US-based investment firm, which is famous for its breathless dealmaking pace, now holds a 9.5% stake in PDAX.
Tiger Global’s other recent investments in Southeast Asia include Spenmo, Ayoconnect, Ula, Lummo (formerly known as BukuKas), Rokt, and Nansen.
More unicorns
Livspace became the region’s newest unicorn this week after securing $180 million in a Series F round led by private equity firm KKR.
Southeast Asia minted 25 unicorns last year, surpassing the total during the previous seven years. Unsurprisingly, these companies dominated fundraising in 2021, raising a combined $9.4 billion, or about 40% of the total equity fundraising during the year.
The unicorns also dominated the list of top 20 fundraisers in 2021, according to DealStreetAsia’s latest report. Of the 20 largest fundraisers, 18 were unicorns. The remaining two were soonicorns from Vietnam, namely VinCommerce and Tiki.
Source: SE Asia Deal Review: Q4 2021
Other updates from DATA VANTAGE
Singapore-based Nium is now valued at about $2 billion after its latest (and ongoing) fundraising. The B2B payments platform had achieved unicorn status in July 2021.
Online real estate classifieds company PropertyGuru has allotted ordinary shares worth $3.2 million to its independent board directors including chairman Lim Olivier and members Melanie Wilson and Jenny Macdonald.
Telemedicine startup Doctor Anywhere reported a more than two-fold increase in revenue to $8.07 million for the financial year ended December 31, 2020.
The Singapore-registered unit of Indonesian fintech startup Koinworks reported revenue of $3.24 million for the year ended December 31, 2020, while its net loss stood at $6.4 million.
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