Data Vantage | Livspace, Beam and Nium secure capital and other updates

Edition #159, 22 March 2022

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Interior design and renovation company Livspace received $156.6 million last week as part of its Series F round, its regulatory filings showed.

Lead investor KKR pumped in $148 million, while Peugeot Investments contributed the remaining $8.26 million.

Livspace had in February announced a $180 million Series F round, which catapulted it into the unicorn club. Other investors in the round include Ingka Group Investments ($11.4 million), Venturi Partners (nearly $6 million) and Jungle Ventures ($6 million).

Livspace’s shares were priced at $606.37 apiece in the latest round. Following the funding round, the startup has appointed Gaurav Trehan, partner and CEO of KKR India, as a director to its board.

Top shareholders in Livspace

Data as of March 21. Source: DATA VANTAGE

Meanwhile, Singapore-based shared micro-mobility company Beam received $22.3 million from its Series B investors including Affirma Capital, Sequoia Capital India and Hana Ventures, last week. It also issued Series B shares to convertible noteholders including EDB Investments, Sea Frontier Fund (AC Ventures), ICT Capital and Momentum Venture Capital.

The company, which operates electric scooters and e-bikes across Malaysia, Thailand, South Korea, Australia and New Zealand, announced the $93 million Series B round in February.

Lead investor Affirma Capital, which has put in $14.1 million so far, will invest another $15.8 million in the startup as well as subscribe to convertible notes as part of the Series B round, according to Beam’s regulatory filings.

Global funds eye Southeast Asia investments

Southeast Asia continues to lure global fund managers, who are increasingly including the market in their investment mandates.

According to a DealStreetAsia report on VC fundraising in 2021, a total of 19 global funds with allocations to Southeast Asia reached a final close last year. Although their allocations to the region remain small, the number of such funds almost doubled from 10 in 2020 and only five in 2019.

The total corpus of global funds with SE Asia allocations touched $5.89 billion in 2021, up 47% from $3.98 billion in 2020.

Final closes by global funds with a mandate to invest in SE Asia

Other updates from DATA VANTAGE

B2B payments platform Nium received $5 million from Moore Strategic Ventures late last week as part of its Series D+ fundraising. The latest funding brings its round total to nearly $8 million.

The round comprises a mix of primary and secondary transactions. NewView Capital, a spin-out of New Enterprise Associates (NEA), bought Nium shares from co-founder and CEO Prajit Nanu, Global Founders Capital, and Rocket Internet this month. Moore Strategic, too, purchased shares from GSR Ventures in secondary transactions.

Electronics marketplace Reebelo received $3.26 million last week as part of its $20 million Series A round. The round comprised $18.5 million in fresh equity funding and a Series A share allotment worth $1.5 million to convertible noteholders.

Singapore-headquartered online payment provider Red Dot Payment received $1 million from its biggest shareholder PayU, the fintech arm of Naspers. The top-up follows a similar capital injection in October 2021 by PayU, which now holds a 72.5% share in the startup.

Digital asset exchange Zipmex received $2.4 million from Series B investors, including TNB Aura and MindWorks Ventures, this week. The company had announced the $41 million financing in November last year.

Sleekr, an Indonesian HR tech startup that is part of SaaS company Mekari, recorded another round of secondary transactions last week. WeTwo Pte, an entity controlled by Mekari chief product officer Daniel Witono, sold its shares in the startup to buyers including Japanese fintech firm Money Forward and Indonesian VC firm Mandiri Capital.

Startups founded or co-founded by women in Southeast Asia bagged $4.4 billion in funding in 2021, or about 17.2% of all private capital raised during the year. Our latest report captures the top dealmakers, the countries and verticals that accounted for the highest deal count and capital raised among these startups, and the founders’ views on their challenges and the progress made so far. Learn more DealStreetAsia — Professional

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