Data Vantage | Mesh Bio, Carro, Tyme, Aboitiz Data Innovation and Ai Palette in focus

Edition #359, 28 March 2024

Share As a free subscriber, you’re reading a redacted version of DealStreetAsia’s premium DATA VANTAGE twice-weekly newsletter. Unlock access to the complete version by picking up any of our premium subscription plans.

Dear Reader,

Singapore-based healthtech startup Mesh Bio issued shares worth [redacted] million to Japanese trading and investment company Mitsui & Co this week.

The startup, which offers predictive analytics solutions for chronic disease management, had in January announced closing a $3.5 million Series A round. Including the latest transaction, it has allotted Series A shares worth [redacted] million to investors and SAFE holders.

The investment in Mesh Bio gives Mitsui an over 4% stake in the firm, according to DATA VANTAGE. Co-founders Andrew Wu, who is also the startup’s CEO, and Arsen Batagov, its CTO, together own a little over [redacted]% of it.

Last year, the startup had secured regulatory approval and an implementation pilot with public health systems for one of its digital twin technologies in Singapore.

Digital twins are digital versions, models, or representations that replicate the make-up, nuances and behaviour of a real-world physical counterpart. Virtual models of a patient’s organs (and even their entire body) can be used to devise and implement truly personalised treatment plans. Besides Mesh Bio, other companies using digital twins include healthcare group Singapore Health Services (SingHealth), which is deploying it in areas such as disease outbreak monitoring and resource optimisation.

SE Asia-focused PE funds hit their stride in H2 2023

After a slow first half, fundraising by Southeast Asia-focused private equity (PE) funds rebounded in the second half of 2023, according to our latest report. The year concluded with six fund closes and $2 billion in new capital — on par with the 2022 tally.

According to Private Equity in SE Asia: H2 2023 Review, the second half saw three funds holding final closes after bagging $1.55 billion — more than triple the amount raised in the first six months of the year.

Final closes by SE Asia-focused PE funds

The annual performance of these funds stands in contrast to the global PE market, which experienced an 11.5% year-over-year decline in fundraising value, hitting its lowest level since 2017. The number of fund closes worldwide also dwindled to its lowest point since 2015, according to Preqin data.

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

Southeast Asian online car marketplace Carro saw revenues surge over 65% in the financial year ended March 31, 2023. However, its net loss for the year deepened almost 6.3x due to soaring costs.

Tyme Asia, one of the two Singapore holding companies of multi-country digital banking group Tyme, received [redacted] million from anchor shareholder African Rainbow Capital this week.

Singapore-headquartered Aboitiz Data Innovation, the data science and artificial intelligence arm of Philippine holding company Aboitiz Group, has secured $2.2 million from its parent company.

Foodtech startup Ai Palette received fresh capital from Orzon Ventures, a growth-stage fund launched by Thailand’s PTT Oil and Retail and venture capital firm 500 Tuktuks, this week.

Singapore-based healthtech company Hello Health Group (HHG) received $268.2k from investors including a vehicle owned by its chairman Charles Toomey, and its founder James Miles-Lambert, this week. The company has now issued preference shares worth [redacted] million at the same price since October 2023.

As a free subscriber, you’re reading a redacted version of DealStreetAsia’s premium DATA VANTAGE twice-weekly newsletter. Unlock access to the complete version by picking up any of our premium subscription plans. Anticipate Asia’s Rising Stars and Secure Lucrative Exits

Explore DATA VANTAGE (formerly Professional Plan), an indispensable part of an analyst’s Swiss Army Knife.

To keep pace with today’s constantly evolving markets, data must be smarter, deeper, and instantly accessible. DATA VANTAGE is our smart, continuously updated research & analytics platform featuring:

• Key financials, fundraising data, and shareholding information for over 3,000 Asian venture-backed companies registered in Singapore and Indonesia
• Up to 3 new research reports per month
• Monthly and quarterly data on private funding in SE Asia, India, and Greater China
• Twice-weekly DATA VANTAGE premium newsletter
• Alerts for monitoring companies and sectors
• 50% discount on tickets to our flagship summit
• Full access to DealStreetAsia’s premium stories and archives

Combine editorial insights with robust data & research. Gain a competitive edge in the ever-changing private capital investment landscape.

>> Curious? Read More About DATA VANTAGE << © DEALSTREETASIA 2014–2024.