Data Vantage | GenZero, Dynasty Gaming, Helicap, Révi and Opal Payment in focus
Edition #378, 4 June 2024
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Dear Reader,
Singapore-based climate solutions platform GenZero received a capital infusion of $42.75 million last week from parent Temasek Holdings.
Earlier in February, Temasek had invested [redacted] million into the decarbonisation-focused investment platform. The Singapore state investor has injected over [redacted] million into GenZero so far, according to DATA VANTAGE.
Founded in 2022, GenZero is a global firm that invests across three focus areas: Nature-based solutions such as forest conservation and restoration, blue carbon, and sustainable agriculture; technology-based solutions with climate-driven technologies; and carbon ecosystem enablers or companies and solutions that support the development of an effective, efficient, and credible carbon markets ecosystem.
In April, the company partnered with climate consultancy South Pole to launch the Asia Centre of Carbon Excellence (ACCE), a technical and carbon financing hub that seeks to accelerate the transition to cleaner forms of energy.
Funding trouble for alternative proteins
Alternative proteins, the most funded segment in Southeast Asia’s foodtech sector, witnessed a sharp decline in investments after 2022, finds our latest report.
According to State of Foodtech in SE Asia 2024, funding in the segment dropped by a staggering 97% to $3.75 million in 2023 from a peak of $113.2 million in 2022. Deal volume also fell by 33% during the period. The segment also failed to crack a single deal in the first quarter of this year.
The report, which tracked foodtech funding in Southeast Asia from January 2020 through March 2024, found that alternative proteins accounted for 71% of private capital raised by foodtech startups in the region.
Funding bagged by alternative protein startups in Southeast Asia
Source: DATA VANTAGE 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 Dynasty Gaming & Media issued shares worth $7.8 million last week to Indian esports and gaming firm Googly Media Holdings. The share allotment follows Dynasty’s acquisition of Googly in an all-share deal.
Singapore-headquartered fintech startup Helicap added [redacted] to its cap table last week after receiving [redacted] million from the investor.
Vietnamese coffee chain Révi Coffee & Tea secured [redacted] last week from TNB Aura and Touchstone Partners.
Singapore-based fintech platform Opal Payment received another capital injection from Oceanus InnoVenture last week.
Singapore-based metadata platform Atlan’s losses ballooned 4.6x in the twelve-month period ended March 31, 2023, as its revenue more than tripled.
Singapore-based fintech platform Silot’s profits surged more than 5x in the financial year ended December 31, 2023, despite a 13% drop in its revenue.
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