Data Vantage | Kargo, Columbia Asia, CLAUDE, Carro and Ascenda in focus
Edition #395, 1 August 2024
Share As a free subscriber, you’re reading a redacted version of DealStreetAsia’s premium DATA VANTAGE twice-weekly newsletter. Unlock access to the complete version by picking up any of our premium subscription plans.
Dear Reader,
Indonesian B2B trucking company Kargo Technologies issued new preference shares worth [redacted] million to existing and new shareholders last week.
The share allotments pushed the total capital raised in its current round to [redacted] million. Investors in the round include [redacted], AC Ventures, Peak XV Partners, Intudo Ventures, AppWorks, Dubai-based [redacted], and air logistics provider Teleport.
The company had previously issued ordinary shares to the founders and shareholders of Malaysia-based logistics firm [redacted] as part of an all-stock acquisition of the latter.
Founded by Tiger Fang and Yodi Aditya in 2018, Kargo boasts a network of over 8,000 transporters, 15,000 trucks, and more than 1,500 drivers.
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
Schedule a free demo session now
Indonesia thirsting for capital
Indonesia was, until recently, the second-largest venture funding market in Southeast Asia. However, it emerged as one of the region’s worst performers in the second quarter of this year, with deal volume hitting a five-year low, according to our latest report.
Indonesian startups raised just $52 million in Q2, the lowest amount in over five years, falling behind Singapore, Thailand, and the Philippines.
The country’s e-commerce sector, once heavily favoured by investors, has seen its fortunes decline. Local e-commerce startups closed only three deals worth $10 million in the first half of this year, compared to their peak of 28 deals in H2 2021 and $651 million in H1 2021.
The sector has been hit hard by the venture capital slowdown and consolidation in the local landscape. Additionally, the poor profitability and stock performance of most publicly listed e-commerce companies have eroded investor confidence in the sector.
Executives at top investment firms, financial services majors, and leading private companies use DATA VANTAGE to make smarter investment decisions in Asia. (See how)
Other updates from DATA VANTAGE
TPG-backed hospital chain operator Columbia Asia allotted ordinary shares worth [redacted] million to its CEO, Chan Boon Kheng, this week. The Singapore-registered company is 99.9% owned by HLT Healthcare Holdings, which in turn, is jointly owned by Malaysian conglomerate Hong Leong Group and One Health Holdings, which is owned and controlled by TPG-managed funds.
Indonesia-based DTC apparel startup CLAUDE received additional capital from existing shareholders, [redacted] and Prima Fund I this week.
Investment firm [redacted] bought additional shares in used car marketplace Carro from another shareholder this week. In April, Carro was reported to be in talks to close a pre-IPO funding round that could see its valuation cross $1.5 billion.
Visa-backed reward solutions provider Ascenda became profitable in 2023. According to its latest financial statement, it reported a [redacted] million net profit as revenue grew 67% year over year to $30.5 million.
ZWEEC, a Singapore-based company developing water technology solutions, managed to report a 40% increase in net profit in 2023 despite a slight drop in reported revenue, suggesting improved cost efficiency.
Singapore-based social learning platform Teamie has maintained a positive bottom line for the past two years. Last year, the company achieved a more than fivefold increase in profit, despite a relatively flat revenue growth.
As a free subscriber, you’re reading a redacted version of DealStreetAsia’s premium DATA VANTAGE twice-weekly newsletter. Unlock access to the complete version by picking up any of our premium subscription plans. Anticipate Asia’s Rising Stars and Secure Lucrative Exits
To keep pace with today’s constantly evolving markets, data must be smarter, deeper, and instantly accessible. DATA VANTAGE is our smart, continuously updated research & analytics platform featuring:
- Key financials, fundraising data, and shareholding information for over 3,000 Asian venture-backed companies registered in Singapore and Indonesia
- Up to 3 new research reports per month
- Monthly and quarterly data on private funding in SE Asia, India, and Greater China
- Twice-weekly DATA VANTAGE premium newsletter
- Alerts for monitoring companies and sectors
- 50% discount on tickets to our flagship summit
- Full access to DealStreetAsia’s premium stories and archives
Combine editorial insights with robust data & research. Gain a competitive edge in the ever-changing private capital investment landscape.
>> Curious? Book a demo now to explore our database!<< © DEALSTREETASIA 2014–2024.
