Data Vantage | LionsBot, Beppo, GetGo, Children’s Cove and Nexplay in focus
Edition #383, 20 June 2024
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Dear Reader,
Singapore-based autonomous cleaning robots manufacturer LionsBot received [redacted] million from US-based venture capital firm TransLink Capital, AC Ventures-managed SEA Frontier Fund and individual investors last week.
The capital injection is part of the startup’s Series A round, which includes fresh equity funding and note conversion. The company has so far secured [redacted] million in fresh capital from investors, including EDBI, Germany’s REIWAG, and SuperSteam Asia Pacific, as part of the round.
Founded in 2018 by Michelle Seow, Dylan Ng, and Rajesh Elara Mohan, LionsBot develops cleaning robots for commercial applications. The company claims to distribute over 2,500 robots in 30 countries across Europe, North America, the Middle East, and Asia.
According to LionsBot’s regulatory filings, its revenue grew 88% to $15.5 million in the financial year ended December 31, 2022. Meanwhile, its net loss soared 3.6x to $8.1 million.
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Philippines-based fintech startup Beppo received $335k from Wavemaker Partners and angel investors this week. The funding is part of a recently announced pre-seed round, in which the startup raised [redacted] in total.
Singapore-based car sharing startup GetGo has received [redacted] million from family-owned investor Treis Group. The latest transaction brings the investment group’s total funding in the firm to [redacted] million.
Singapore-based preschool operator Children’s Cove received $2.2 million last week from Mavis Tutorial Centre, Apricot Capital and Huan Yong Group, an investment holding vehicle of the Te family whose patriarch Ronald Te Kok Chiew co-founded instant coffee seller Super Group.
Blockchain startup Initia Labs received $5 million this week from HackVC and Delphi Ventures as part of its $7.5 million seed round, which was announced in February. The two investors have also contributed [redacted] million to the startup’s new Series A round.
Influencer marketing startup Nexplay issued ordinary and preference shares worth [redacted] million to investors, including Singapore-based MBG Capital, Philippine media firm Summit Media and venture capital firm First Asia, last week.
Vietnam-based edtech startup NativeX received $85k from Orvel Ventures last week. The investment is part of the firm’s $4 million seed round, which was co-led by Ansible Ventures and Blueprint Ventures.
Malaysia-based direct-to-consumer company RPG Commerce reported a 48% revenue decline for the financial year ended March 31, 2023. The Vertex Ventures-backed company’s losses increased by around 10% during the year.
Golden Gate Ventures-backed personal finance platform MoneySmart turned profitable in the financial year ended December 31, 2023, as its revenue grew nearly 21%.
Cocoon Capital-backed smart point-of-sale (POS) solutions provider Qashier’s losses widened by 81% in the financial year ended December 31, 2022, as its revenue more than doubled.
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