Data Vantage | Graas’s funding and acquisitions; Zipline and Docquity bag fresh capital
Edition #200, 18 Aug 2022
Dear Reader,
Singapore-headquartered e-commerce solutions provider Graas on Wednesday announced it has raised $40 million in Series A funding and used part of the proceeds to acquire India-based D2C e-commerce platform Shoptimize and Southeast Asian marketplace specialist SELLinALL.
Grass’s regulatory filings show Galaxy Continuity Fund, a special purpose vehicle (SPV) backed by Kejora Capital, invested $10.1 million in the round, while Performa One, an SPV backed by an undisclosed European asset manager, put in another $10 million.
Emergen Labs, a vehicle backed by several investors, including Indian ferro alloys maker Nava Bharat Ventures, Mission Holdings and angel investors such as former Indian cricketer Ravi Shastri, invested $10 million.
Graas has allotted shares worth over a 3% stake each to SELLinALL co-founder and CEO Vikraman Ilango and Shoptimize co-founder and CEO Mangesh Panditrao, in addition to granting them board seats.
Top shareholders in Graas
Source: DATA VANTAGE
Australia-based Zipline, which operates an eponymous healthcare compliance platform and the RateIt customer experience management platform, received $1.5 million this week from King River Capital and other investors, its regulatory filings in Singapore show.
The latest transactions bring its total funding in an ongoing Series A2 round to $2.4 million. Other investors to have recently wired money include the Sypkes Family Trust and Gravel Road Ventures.
Zipline’s previous backers include Tin Men Capital, which is the startup’s largest shareholder, and Wavemaker Partners.
Other updates from DATA VANTAGE
Docquity, a medical education and knowledge-sharing platform for healthcare professionals, bagged $32 million from Japan’s Itochu Corporation this week as part of a Series C funding round.
Healthcare company Juniper Biologics, which is focused on delivering novel therapies in oncology and other areas, received $7.5 million last week. The company is majority owned by The Sylvan Group, which is backed by the Hyundai and Rockefeller families.
Edtech startup BrightCHAMPS received $2.6 million this week from investors, including 500 Global Vietnam, NextTech Group and VIC Partners.
Online furniture retailer Hipvan received S$1.5 million ($1 million) from parent company Bucketplace this week. The Mary Meeker-backed South Korean company acquired the Singapore startup last year.
Singapore-based food tech company TiffinLabs received $1 million in new funding this week.
Southeast Asian used car marketplace Carsome’s Singapore-registered entity reported a doubling of revenue for the financial year ended Dec 31, 2021, to $656 million. Its net loss before interest ballooned 7x during the period.
Construction tech company Hubble also doubled its 2021 revenue to nearly $2 million. The startup had secured $8.5 million in Series B funding in March.
Let us know how we can serve you better by taking this 30-second survey. Take Survey.
You can now download financial data, including profit and loss, balance sheet, net cash flow and ratio analysis by using the Download option in DATA VANTAGE. Log in to your account and try today.
DealStreetAsia — Professional
Combine editorial insights with robust data & research. Our newest product is a strategic business solution.
Subscribing to DealStreetAsia — Professional will get you -
- Key financials of more than 2,000 Asian venture-backed companies registered in Singapore and Indonesia
- Track competitors and industries
- Up to 4 new research reports per month
- Exclusive data-led Stories
- Deal Monitors (India / China/ SEA)
- Full access to DealStreetAsia’s premium reportage
- Twice-weekly DATA VANTAGE newsletter
- Discounts to Asia PE-VC Summit tickets (live event).
