Data Vantage | iPid, Aevice Health, Aprisium, Nurasa and BillEase in focus

Edition #398, 13 August 2024

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Dear Reader,

Singapore-based fintech startup iPiD (International Payments Identity) issued shares worth [redacted] million to several investors last week, according to regulatory filings.

Shares worth $5.3 million were allotted to investors who participated in a recently announced pre-Series A round. These include lead investor Monk’s Hill Ventures, which contributed [redacted] million to the round, as well as Jungle Ventures, 1982 Ventures, Quona Capital, QED Investors, and Saison Capital.

The remaining shares were issued to convertible securities holders, including Saison Capital, Wing Vasiksiri, Resolution Ventures and Rapyd Ventures.

Founded in 2021, iPid provides advanced payee verification and identification solutions to tackle fraud and failed payments within the payment industry. The company claims to serve customers across six continents with a global validation network covering over 2.8 billion accounts and 6,000 banks.

According to analyst firm FXC intelligence, the global B2B cross-border payments market is projected to reach $290 trillion in value by 2030.

The data and information in this newsletter comes from DATA VANTAGE, which tracks regulatory filings to provide you with the latest information on startup fundraising, shareholding and financials. Find out how it can aid you in your decision-making — book a demo today or write to us at subs@dealstreetasia.com

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Other updates from DATA VANTAGE

Singapore-based medtech company Aevice Health issued shares worth $7.2 million to investors last week. The share allotment follows the close of a seed plus round led by Coronet Ventures and backed by SEEDS Capital and East Ventures.

Aprisium, a Singapore-based provider of advanced contaminant detection and monitoring solutions, has received $7 million in Series A funding from investors. Co-lead investors Deep-Tech Venture Partners and Cocoon Capital contributed [redacted] million each to the round. Aurum Investments, a venture capital fund indirectly owned by Woh Hup Holdings, also participated in the round.

Nurasa (formerly Asia Sustainable Foods Platform), a wholly owned subsidiary of Singapore’s state investment company Temasek Holdings, received a capital injection of [redacted] million last week from its parent. In April, the firm inaugurated its Food Tech Innovation Centre (FTIC), which features high-tech laboratories with advanced precision fermentation and food processing capabilities.

Biomax Green, a Singapore-based company specialising in organic waste management, received $2 million from [redacted] last week.

Life3 Biotech, a foodtech company based in Singapore, has received [redacted] million from Lim Chang Run and a vehicle backed by Michael Leow, Wah Hiam Poh Foo, Guan Liu Lee, Saw Phaik Hwa and others.

Philippines-based fintech firm BillEase turned profitable in the financial year ended December 31, 2023, due to strong growth in its user base and merchant partnerships. Its revenue grew by 75% to [redacted] million last year.

Temasek-backed oat milk brand Oatside reduced its losses by 59% for the financial year ended December 31, 2023, helped by a threefold surge in revenue.

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