Data Vantage | LINE MAN Wongnai, Glife, Mangkokku and others receive capital
Edition #211, 27 Sep 2022
Thai food delivery startup LINE MAN Wongnai on Monday announced raising $265 million in a Series B funding round co-led by Singapore sovereign wealth fund GIC and Japan’s LINE Corporation. The financing pushed its valuation beyond the vaunted $1 billion mark, making it Thailand’s latest unicorn.
The round was backed by PTT Oil and Retail Business Public Company, BRV Capital Management, Bualuang Ventures, and Taiwan Mobile.
According to the startup’s regulatory filings, GIC invested $120 million in the round.
LINE remains the firm’s largest shareholder after the latest funding.
Top shareholders in LINE MAN Wongnai
Source: DATA VANTAGE
Indonesian B2B marketplace Ralali issued Series C preference shares worth $3.5 million last week to convertible noteholders, including Arbor Ventures, DG Ventures and Beenos Asia.
Earlier this month, the startup received an additional $2 million in its Series D funding round from ACA Investments.
Ralali connects suppliers and wholesalers to micro, small, and medium enterprises (MSMEs) via its app and website.
Other updates from DATA VANTAGE
Singapore-based foodtech company Glife received nearly $3 million in Series A1 financing from venture capital firm Tin Men Capital last week. Earlier in May, the company had raised $2.9 million in May in a funding led by Temasek subsidiary Heliconia Capital.
Founded in 2018 by Justin Chou, who is also the executive director of plant-based food supplier Growthwell and co-founder of vegetarian food chain Greendot, Glife runs an app and website that enable food and beverage businesses to buy, manage, and track their orders.
Singapore and Malaysia-based agritech company Nutrition Technologies received nearly $2 million from ING Sustainable Investments last week. The financing is part of a $20 million round led by Thai state-owned oil and gas company PTT that was announced earlier this month.
End-to-end staffing platform Workmate (formerly known as Helpster) allotted shares worth nearly $3 million to investors, including SEEDS Capital and Wavemaker Partners last week.
Meanwhile, Indonesian culinary startup Mangkokku received $7 million from Alpha JWC Ventures, Emtek and other investors last week.
Thermal imaging firm Meridian Innovation received $2.2 million last from SEEDS Capital and other investors. To date, the company has secured nearly $18 million.
ZumVet, a Singapore pet telehealth startup, bagged $1.86 million last week as part of its Series A funding round from Pine Venture Partners and Pentepebble Holdings.
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