Data Vantage | HealthifyMe, Andalin, SIRCLO and Canopy in focus
Edition #415, 15 October 2024
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Dear Reader,
India-based health and fitness startup HealthifyMe issued shares to LeapFrog Investments, Khosla Ventures, Blume Ventures, Unilever Ventures and other investors last week.
The shares were allotted to convertible noteholders and Series C2 investors, according to its regulatory filings in Singapore.
HealthifyMe, which offers wearable devices, fitness trainers, and a mobile app for monitoring calorie intake, plans to allot shares worth [redacted] million to noteholders and [redacted] million to investors providing it with fresh funding.
The company had last announced a $30 million pre-Series D funding round in June 2023. LeapFrog and Khosla Ventures led the round, which comprised an unspecified debt component. According to DealStreetAsia — DATA VANTAGE, the latest transactions mark the first share allotment by the Indian firm since [redacted].
The Bengaluru-based startup laid off around 150 employees, or 27% of its workforce, in April this year to make its India business profitable and expand in the US market. Founded by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian, HealthifyMe is present in Singapore, Malaysia, Indonesia, Saudi Arabia, the UAE, the UK, and Australia.
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Other updates from DATA VANTAGE
Indonesia-based shipping platform Andalin allotted shares worth [redacted] million last week to Intudo Ventures, Hiven, BEENEXT and other investors. The transactions are linked to a new Series C round, per regulatory filings.
Indonesia-based e-commerce enabler SIRCLO received a fresh capital injection last week from venture capital firm YJ Capital. Since June 2023, the company has raised [redacted] million from investors, including East Ventures, Vertex Ventures Southeast Asia & India, and Pavilion Capital, at the same share price.
Singapore-headquartered wealthtech company Canopy received $1.05 million last week from an existing shareholder.
Indonesia-based insurtech platform Qoala managed to cut its losses by 36% in the financial year ended December 31, 2023, as its revenue more than doubled. The company has raised over $130 million from investors, including PayPal Ventures, Eurazeo and Peak XV Partners.
Wavemaker Partners-backed hospitality tech startup ZUZU Hospitality’s revenue increased by nearly 58% in the financial year ended December 31, 2023, while its losses widened by over 15%.
Nektar, a Singapore-based B2B sales productivity platform, witnessed a 26.7% surge in its net loss for the twelve months ended January 31, 2024. The B Capital-backed firm nearly doubled its revenue during the year.
Singapore-based fintech startup Doxa’s revenue halved in the financial year ended December 31, 2023, while its losses went up by 9%.
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