Data Vantage | Nitex, Laku6, Web3Auth and LionsBot report cap table updates

Edition #328, 28 November 2023

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Retail apparel and fashion commerce platform Nitex issued new preference shares worth [redacted] million last week to a group of investors, including US venture firm FJ Labs, UK-based Nosara Capital and early-stage investor [redacted].

The allotment comprises shares allotted for previously issued convertible notes and SAFE, as well as new equity funding raised by the company, regulatory filings show.

Nitex, which has a presence in London, Barcelona, Istanbul, and Dhaka, provides a full-service supply chain platform for small and medium-sized apparel brands and solo entrepreneurs. Founded in 2017, it handles design to fulfilment and shipping of goods to warehouses.

Lyra SPV, a joint vehicle between Singapore-based pre-loved goods marketplace Carousell and investment firm Heliconia Capital, has become the sole owner of second-hand electronic gadgets marketplace Laku6.

Founded in 2015, Laku6 helps consumers own and upgrade smartphones through recommerce and financing.

Carousell had in July last year announced the acquisition of a controlling stake in Laku6. After the deal, which was made in partnership with Heliconia Capital, e-commerce major Tokopedia was the only other investor on the startup’s cap table.

After independently buying out Tokopedia in August, Carousell transferred its shares in Laku6 to Lyra SPV last week.

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Other updates from DATA VANTAGE

Robotics firm LionsBot secured [redacted] million in fresh capital last week. The latest cash infusion brings its Series A round total to [redacted] million. Other investors that have backed the financing include German facility services provider WISAG, US-based TransLink Capital, Reiwag Singapore and EDBI.

Singapore-based robotics company Performance Rotors, which focuses on aerial robotics solutions, has received $1.6 million in additional capital from its parent company.

Web3Auth, previously known as Torus Labs, welcomed US-based venture capital firm Sentinel Global as a shareholder last week following an equity investment worth [redacted] million. Web3Auth develops a blockchain-based authentication framework to streamline access to decentralised applications.

US- and Singapore-based Web3 infrastructure builder Chainstack has raised fresh capital from Ventech China, a venture capital firm founded by Ventech Capital co-founder Eric Huet.

DayOne co-founder Wai Hsuen Chan has made a complete exit from the company, transferring all his shares to the other co-founder, Jiawen Ngeow. Antler-backed DayOne is a software-as-a-service platform designed to enhance the performance of frontline workers through bite-sized learning and tasking.

Mandala Club, a private membership club that offers space for socialising and relaxation, secured [redacted] in new funding last week.

Kinetic Innovation, a Singapore-based fintech firm that offers credit risk solutions, issued new shares worth $550,000 last week to a group of new and existing investors.

Bond trading platform BondbloX has received additional capital worth $500,000 from existing shareholder [redacted].

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