Data Vantage | Oatside, SAVii, Dekoruma, Silicon Box and Shein in focus

Edition #384, 25 June 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 oat milk startup Oatside received [redacted] million from TR Capital and Granite Asia, formerly known as GGV Capital Asia, last week.

The capital injection is part of an ongoing Series B round, according to regulatory filings. Granite Asia and TR Capital have also bought secondaries in Temasek-backed Oatside from other shareholders, including [redacted].

According to DealStreetAsia — DATA VANTAGE, the plant milk startup’s Series B share price is up [redacted]% from its previous financing in 2023.

Oatside’s oat milk products are sold in more than 18 markets, including Singapore, Japan, Indonesia, Thailand, Malaysia, Hong Kong, and South Korea. In the financial year ended December 31, 2022, it logged revenue of $12.6 million and a net loss of $2.5 million.

Incredible limited offer for our DATA VANTAGE newsletter subscribers!

To buy a DATA VANTAGE subscription, click here or contact our team.
For more details on our upcoming summit, click here.

Indonesia sees tech M&A plummet after hitting peak in 2022

Indonesia witnessed the biggest drop in tech mergers and acquisitions (M&A) among Southeast Asian markets in 2023, according to our latest report. The country saw only 23 M&A deals last year, down 51% from 47 in 2022.

With only five deals recorded in the first five months of this year, Indonesia’s M&A market shows little sign of a recovery. In comparison, 16 deals were recorded in the same period in 2023.

Singapore recorded the highest number of M&A transactions in the region last year, but deal volume declined by 33%. Vietnam was the only major market in Southeast Asia where deal volume increased, albeit marginally.

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

Philippine fintech company SAVii, formerly known as Uploan, allotted shares worth [redacted] million to Yolo Investments and VU Venture Partners last week. The investors had previously extended financing to the startup in the form of convertible notes. The share issuance precedes the impending acquisition of SAVii by GoTyme Bank shareholders JG Summit and Tyme Group, which was announced in May.

Indonesia-based home decor and furniture company Dekoruma allotted conversion shares worth [redacted] million last week to noteholders, including [redacted], Ondine Capital, Nexter Ventures, and OCBC Ventura. On Monday, local e-commerce firm Blibli announced its acquisition of Dekoruma for $70.6 million.

Biorithm, a Singapore-based pregnancy care startup that spun out of Nanyang Technology University, received a capital infusion of [redacted] million last week.

Singapore-based semiconductor company Silicon Box’s losses more than tripled in the financial year ended December 31, 2023.

Singapore-headquartered online fashion giant Shein’s profits more than tripled in the financial year ended December 31, 2022, as its revenue more than quadrupled.

Singapore-based fashion platform Love, Bonito’s losses more than doubled in the financial year ended December 31, 2022, despite a 41% revenue growth.

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.