Data Vantage | OFF FOODS pockets $1.5m; EDP Sunseap bags $90m from parent
Edition #201, 23 Aug 2022
Dear Reader,
Indonesia-based alternative protein maker OFF FOODS raised $1.5 million from Jungle Ventures last week, according to regulatory filings.
The capital injection appears to be part of a new round as the startup’s current share price is more than double that in its previous financing.
OFF FOODS had closed a $1.7 million seed round in April with the backing of Alpha JWC Ventures, Global Founders Capital, Lemonilo and others.
Top shareholders in OFF FOODS
Source: DATA VANTAGE
Singapore-based renewables firm EDPR Sunseap received $90 million from parent firm EDP Renewables (EDPR), the world’s fourth-largest renewable energy producer, last week.
EDPR, which is majority owned by Portugal’s Energias de Portugal, had closed its S$1 billion acquisition of the Singapore firm earlier this year and announced plans to invest up to S$10 billion by 2030 to establish an Asia-Pacific energy hub in the city-state.
EDPR Sunseap, the Singapore unit, recently inked a partnership with Reservoir Link Energy Bhd to develop solar projects in Malaysia. It had in April signed a memorandum of understanding with Indonesia’s Riau Islands to build an offshore solar farm to supply power there as well as to Singapore.
Other updates from DATA VANTAGE
Chinese conglomerate Fosun International pared its holding in The Parentinc, a content and community platform for parents, last week. The investor had backed the startup’s Series C round in 2019, along with e-commerce giant JD.com.
Singapore-based Neuroncredit Pte, which is also known as Atome Financial and is the parent company of Indonesia’s fintech lending firm Kredit Pintar, more than doubled its 2021 revenue. Its net profit before interest, too, increased over 2x.
Wealth management and savings startup Hugosave received $1.7 million last week from investors, including Woodside Holdings Investment Management, as part of a $4-million pre-Series A round announced in July.
Delivery Hero injected nearly $580,000 into Singapore-based restaurant tech startup TabSquare last week, bringing its total investment in the latter this year to $5.26 million. TabSquare, which was acquired by Delivery Hero in 2021, reported $2 million in revenue for the 2020 financial year.
Docquity, a medical education and knowledge-sharing platform for healthcare professionals, issued Series C shares worth $12 million to convertible noteholders, including iGlobe Partners and Alkemi Ventures. The startup bagged $32 million last week from Japan’s Itochu Corporation as part of the round.
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