Data Vantage | Funding for Waresix and The Parentinc, Coda’s share conversion, and more
Edition #165, 12 April 2022
Dear Reader,
Indonesian logistics startup Waresix received $30 million from Tiger Global Management this week, according to its regulatory filings.
The funding is part of a larger Series B1 round being led by the New York-based investment firm. Waresix’s Series B1 preference shares were priced nearly 50% higher than a Series B financing in 2020, DealStreetAsia — DATA VANTAGE.
Following the deal, Tiger Global holds an over 8% stake in Waresix.
Top shareholders in Waresix
*As of April 11. Source: DATA VANTAGE
The Parentinc, the company behind parenting community theAsianparent, received $4.5 million this week from East Ventures as part of its Series D round. The company’s shares were priced at $39.39 apiece in the latest round, slightly higher than the $35.81 per share shelled out by South Korea’s LINE in early March.
Other participating investors in the round include Thailand’s Central Retail and two entities owned by the founding family of Summit Power International, according to regulatory filings. The Series D investors, including lead investor East Ventures, have committed an equity funding of $9 million into The Parentinc. The company, while announcing its $22 million Series D, had said that the round also comprised venture debt funding.
The Parentinc’s filings also show that Fosun Maternal Infant and Family Group, a unit of Chinese conglomerate Fosun, is exiting its investment in the Southeast Asian startup by selling its shares to buyers including East Ventures and WHG Holdings. Fosun had invested in the company formerly known as Tickled Media in 2019 and remains invested in it through its venture capital arm, Fosun RZ Capital.
Other updates from DATA VANTAGE
Singapore-based online payment solutions provider Coda Payments is converting all its Series A and B preference shares into ordinary shares, according to a filing with the Accounting and Corporate Regulatory Authority (ACRA). The conversion, typically triggered by an upcoming exit, appears to be in preparation for its latest funding round, which will reportedly value the company at $2.5 billion.
The company did not respond to a DealStreetAsia email seeking clarity on the move.
HR tech startup Skuad bagged $5 million in Series A funding from US-based Mindlance last week. The company has also converted outstanding loans from BEENEXT and Anthemis Group into Series A1 preference shares.
Fintech firm FnO raised $4.75 million in equity funding last week as part of a Series A round. The round was led by Jungle Ventures, which contributed $3 million.
Singapore-based artificial intelligence startup X0PA AI bagged $4.4 million late last week from investors including SEEDS Capital, ICCP SBI Venture Partners and US-based Alpha Impact 8. The investors paid $202.35 for each XOPA AI share, or more than double the price in its previous round.
Quantum computing startup Horizon Quantum Computing received $1.1 million from Sequoia Capital India last week. The capital infusion follows a $12 million investment by Tencent earlier.
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