Data Vantage | MarketNode, Zipmex, NSG BioLabs, Autumn and Yours in focus

DealStreetAsia
4 min readMay 9, 2024

Edition #371, 9 May 2024

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Dear Reader,

MarketNode, a Singapore-headquartered financial market infrastructure provider, issued preference shares worth $19 million to [redacted] and Temasek Holdings this week.

The share allotment is part of a new Series A round, according to the fintech company’s regulatory filings. [Redacted] is a new addition to its cap table.

MarketNode was established jointly by Temasek and Singapore Exchange (SGX) in 2021 to be Asia Pacific’s first exchange-led digital asset venture focused on capital markets workflows through smart contracts, ledger, and tokenisation technologies.

Startup funding in Greater China hits 2-year high in Q1

Greater China-based startups raised $20.1 billion in the first quarter of this year, marking a two-year peak, according to the latest report from DealStreetAsia — DATA VANTAGE.

The Q1 deal value was up 86.7% quarter on quarter. However, deal volume dropped 7.5% from the previous quarter, partly due to China’s week-long Lunar New Year holiday in February, per Greater China Deal Review: Q1 2024.

On a year-on-year basis, the total capital raised rose by 36.6%, while the deal count was nearly on par with the same period in 2023.

Funding raised by Greater China-based firms per quarter

Source: Greater China Deal Review: Q1 2024 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

Troubled crypto platform Zipmex has appointed a provisional liquidator to wind up the company, according to regulatory filings in Singapore. An extraordinary general meeting (EGM) and a creditors’ meeting will be held on May 20 to decide the embattled firm’s next steps.

Biotech co-working space provider NSG BioLabs received [redacted] million from Temasek-backed life sciences investor ClayvstBio last week as part of a recently announced $14.5 million Series A round led by private equity firm Celadon Partners. The PE investor has previously backed Southeast Asian biotech firm Genetic Design and Manufacturing Corporation (GDMC).

Singapore-headquartered fintech startup Autumn received [redacted] from Standard Chartered Ventures (SC Ventures) this week. Incubated by lender Standard Chartered’s venture arm, the wealth management firm is also backed by asset manager Franklin Templeton.

Surge-backed skincare startup Yours has appointed Farooq Ahmad Mann of Mann & Associates PAC as its liquidator. The startup, which had also raised funding from Jay-Z’s venture fund Arrive, is under creditors’ voluntary liquidation.

Dating app Lunch Actually received S$500k ($375.2k) from an individual investor this week.

Openspace Ventures-backed digital therapeutics startup Neuroglee Therapeutics recorded a 5x surge in net loss for the financial year ended December 31, 2022.

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