Data Vantage | GoTo joins Carousell’s cap table, REDEX bags capital and more
Edition #304, 31 August 2023
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Carousell, a Singapore-headquartered online marketplace for pre-loved goods, welcomed Indonesia’s tech company [redacted] as a shareholder earlier this week following ordinary shares allotment worth $2.8 million.
The Indonesian company holds a stake in Carousell via Singapore-based [redacted]. The latter was an investor in the re-commerce platform [redacted], which was acquired by Carousell in 2022.
Sustainable energy data management solutions provider REDEX has raised [redacted] million in fresh capital from [redacted] and Saudi Arabia-based diversified conglomerate Abdul Latif Jameel.
Named among the top 25 leading cleantech companies in the Asia Pacific by the Cleantech Group in 2023, REDEX is the company behind REHash, a blockchain-enabled platform that tracks and certifies transfer of ownership and retirement of Renewable Energy Certificates.
REC, also known as a Green Tag, Renewable Energy Credit, or Tradable Renewable Certificate (TRC), is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation.
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Other updates from DATA VANTAGE
Alibaba Singapore has issued new shares worth $1.83 billion to its parent company, Alibaba.com International (BVI) Holding Limited (BVI), which is a subsidiary of Alibaba Group Holding Ltd. The latest share allotment pushes Alibaba Singapore’s total paid-up capital to date to [redacted] billion. The unit owns shares in Lazada Southeast Asia and Ninja Van.
Singapore-based greentech startup Zuno Carbon has allotted shares worth [redacted] million to investors, including Wavemaker Partners, SEEDS Capital and Blue InCube Ventures.
The Singapore-based parent company of Indonesian B2B online marketplace Ralali reported [redacted] million in profit in 2021, a massive change from $31.8 million in losses in the previous year, according to a financial statement filed earlier this week.
INEX Innovate, a healthtech company focusing on advanced diagnostics for women, reported a 79.8% year-on-year drop in revenue for the financial year ended December 31, 2022. The company went into the red last year after previously securing [redacted] million in profit in 2021.
Singapore-headquartered industrial data platform dDriven Solutions reported a 50% drop in revenue for the 12-month period ended March 31, 2022. The company, however, managed to reduce its losses slightly.
The Singapore entity of South Korea’s foreign exchange app Sentbe reported [redacted] million in revenue last year, a 99.4% growth relative to the previous year’s performance. The revenue growth helped the company eke out a profit.
The Singapore entity of Indonesian fintech firm Empatkali, which was acquired by Australian fintech lending firm Afterpay in 2020, turned a profit in 2022.
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