Data Vantage | ION Mobility, Xfers, Hello Health and Noviscient report updates
Edition #303, 29 August 2023
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Dear *|IF:FNAME|**|FNAME|*,*|ELSE:|*Reader,
ION Mobility, a Singaporean startup specialising in electric bikes and energy storage technologies, allotted new shares worth [redacted] million last week.
The shares were allotted to investors who had extended convertible loans to the company between May and November 2022, as well as those who backed its recent Series A round. Recipients include TVS Motor, Monk’s Hill Ventures, TNB Aura, SEEDS Capital, Village Global and GK Plug and Play.
The EV company had in February announced securing a strategic investment from Indian automobile major TVS Motor. Regulatory filings show the startup has so far received [redacted] million from the latter. TVS will provide support for ION Mobility’s market expansion in Singapore and Indonesia.
Singapore-based e-payments platform Xfers has allotted shares worth to FAZZ Financial Group (FFG). The allotment was to satisfy the conversion of loans worth [redacted] million secured between 18 November 2021 and 18 July 2022 into equity.
Previously in March 2021, Xfers had announced raising $30 million from PAYFAZZ, which operates a branchless banking agent network in Indonesia, and the formation of FFG as a joint entity. Xfers serves as the designated B2B arm of FFG.
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Other updates from DATA VANTAGE
Health tech company Hello Health Group received $904.6k from a new investor last week, pushing its capital injection in 2023 so far to [redacted] million.
Noviscient, a Singapore-headquartered investment management platform, has raised $850,000 from a group of individual investors, comprising five existing shareholders and four new ones. The company has raised more than [redacted] million to date, our data finds.
Bangalore-based Deck App Technologies, the company behind presentations.ai, allotted new shares last week worth [redacted] to a group of investors, including venture capital firm Accel and WGG International.
Magloy Tech, a spin-off from the National University of Singapore that develops customised magnesium-based alloys for medical devices, has welcomed SEEDS Capital as a shareholder following a [redacted] investment.
Singapore-based metaverse platform Utown allotted new ordinary shares to existing shareholder PT Bangun Bangsa Baru Bersama and new shareholder PT Semesta Karya Bangsa.
Blockchain-powered gaming studio Eyeball Games, which was established last year by the creators of the popular pool game 8 Ball Pool, received a fresh capital injection last week, bringing its total funding to [redacted] million.
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