Data Vantage | METUB, Chalo, KABAM Robotics, Draper Startup House secure capital

Edition #316, 12 October 2023

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Vietnam-based creator economy platform METUB received [redacted] million from investors, including Vertex Ventures Southeast Asia and India and Do Ventures, last week.

Founded by Phuong Ha and Steven Nguyen, the company works with local influencers to create, host and monetise their content. Its services include the production and distribution of content as well as the delivery of content partnership/influencer marketing campaigns. According to its LinkedIn profile, it is also planning to expand into social commerce.

Influencer marketing is projected to grow to a nearly $2.6 billion market in Southeast Asia by 2024.

India-based transportation technology startup Chalo allotted shares worth $1.2 million this week to B2B and SaaS-focused venture capital firm Avataar Ventures.

Earlier in May, the bus tracking and ticketing startup announced raising $45 million from Avataar Ventures, Lightrock India, Waterbridge Ventures and other investors. It also secured $12 million in debt from Trifecta and Stride Ventures.

Founded in 2014, Chalo currently operates in 52 cities in India, including Mumbai, Chennai, Kolkata and Bangalore. It acquired shared mobility startup Vogo in March last year and Amazon-backed bus aggregator Shuttl in 2021.

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Other updates from DATA VANTAGE

Singapore-based robotics firm KABAM Robotics secured [redacted] million last week from Australia-based, real assets-focused investor Taronga Ventures. Founded in 2018, the company is part of precision engineering solutions provider PATEC Group.

Draper Startup House Singapore, which operates hostels targeted at startup founders and remote workers, has received $1 million from its US-based parent company.

UNOAsia, the incorporator of neobank UNO Digital Bank, allotted shares worth [redacted] million to its co-founder Kalidas Ghose this week.

India-based B2B e-commerce platform Udaan’s revenue declined by 43% in the financial year ended March 31, 2023. Meanwhile, its cost-saving initiatives paid off as its losses fell by over [redacted]% during the period.

Singapore-based online fraud management solutions provider SHIELD, formerly known as CashShield, more than doubled its revenue in the financial year ended December 31, 2022. The GGV Capital-backed startup also managed to reduce its losses by nearly 21% during the period.

Singapore-based healthtech firm Gero’s revenue surged 86.7% in the financial year ended December 31, 2022. The company turned a loss during the year after a profitable 2021.

Monk’s Hill Ventures-backed alternative revenue-based financing company Jenfi posted a 144% revenue growth in the 12-month period ended December 31, 2022. Its net loss went up by 64% during the year.

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