Data Vantage | Marketnode, CrediLinq, Qapita and Breathonix in focus
Edition #419, 29 October 2024
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Dear Reader,
Singapore-based digital market infrastructure operator Marketnode received [redacted] million from Belgium-based financial market infrastructure services provider Euroclear last week.
The funding was announced earlier this month, but no financial terms were disclosed. This is Euroclear’s first strategic investment in Asia.
Founded by SGX and Temasek Holdings in 2021, Marketnode operates two platforms: Gateway, an end-to-end platform leveraging the potential of tokenisation, and Fundnode, which connects private fund managers, distributors, transfer agents, fund administrators and others on a single platform.
The investment from Euroclear is part of its Series A round. The company had received [redacted] million from HSBC in May as part of the same round.
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Startup funding slides in India after mega Q2
Indian startups secured $4.3 billion from private investors in the third quarter of 2024, marking a 17% decline after a sharp surge in funding in the previous quarter, finds the latest report by DATA VANTAGE.
On a year-on-year basis, the total private funding garnered by Indian startups almost doubled in the July-September quarter this year, according to India Deal Review: Q3 2024.
In the first nine months of 2024, the total funding raised by local startups increased 37% to $12.1 billion. Deal count, too, went up by 37% on a year-on-year basis to 966.
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Other updates from DATA VANTAGE
Singapore-based plug-and-play embedded finance solutions provider CrediLinq issued shares worth [redacted] million to MS&AD Ventures, the corporate venture capital arm of Japanese insurance firm MS&AD, and others, including Vectr Fintech Partners and 500 Southeast Asia, last week.
Breathonix, a company developing non-invasive breath tests for disease detection, bagged fresh capital from MY E.G. Capital Sdn Bhd, a unit of Malaysian e-government services provider MyEG Services, last week.
Digital equity management platform Qapita received [redacted] million from MassMutual Ventures Southeast Asia, Cercano Management and others last week. The latest capital injection brings its pre-Series B round total to [redacted] million.
India-based health and fitness startup HealthifyMe received $5 million from Mauritius-based MNI Ventures, an affiliate of [Redacted], last week.
Nitex, a B2B apparel and fashion commerce platform, received $3 million from venture capital firm Base Capital last week.
Indonesian quick commerce startup Astro’s co-founder Sherlyn G has transferred some of her shares to [Redacted].
SWAT Mobility, which uses AI to resolve vehicle routing challenges, reduced its losses by 13% in the financial year ended December 31, 2022. Its revenue grew by 50% during the period.
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