Data Vantage | Qoo10, AQWIRE, OTSAW, Brik and Ula file updates

DealStreetAsia
3 min readMay 9, 2023

Edition #271, 9 May 2023

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Singapore-based e-commerce platform Qoo10 allotted shares worth [redacted] million last week to South Korea-based venture capital firm Wonder Holdings.

Last month, the Singapore company bought out all shares held by Wonder Holdings in the South Korean social commerce platform WeMakePrice. The recent share allotment is understood to be part of the same deal.

Qoo10 had in March issued shares worth nearly $189 million to Monster Holdings, Anchor Equity Partners, KKR & Co, and NHN Corp as part of its acquisition of Korean e-commerce company Ticket Monster (TMON).

The Southeast Asian company also acquired South Korea’s Interpark Commerce in March this year.

Top shareholders in Qoo10 Pte Ltd

Source: DATA VANTAGE

Philippine SaaS and payments startup AQWIRE received [redacted] from Cento Ventures, Gentree Fund and Spiral Ventures last week. The investment is part of its Series A2 round of funding, per regulatory filings.

The company had last announced raising $2.1 million in a Series A funding round led by Spiral Ventures in November 2020.

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Other updates from DATA VANTAGE

Robotics firm OTSAW received [redacted] million from Singapore-based Serial System Ltd, Evolve Capital Management and other investors last week.

Indonesia-based construction materials aggregator Brik received another [redacted] this week, bringing its pre-Series A round total to [redacted] million. Investors participating in the round include B Capital, Accel and AC Ventures.

Cove, a Singapore-based smart wearables platform and a registered brand of Kaha Pte, bagged $500k from its parent Imagine Marketing, which owns the consumer electronics brand boAt Lifestyle in India.

Indonesian B2B marketplace Ula reported a [redacted] jump in its revenue for the financial year ended December 31, 2021, according to a recently filed financial statement. Its net losses surged [redacted] during the period.

Philippines-based parenting-focused e-commerce platform Edamama’s revenue rose 5.8x in the 12 months ended September 30, 2021. The startup eked out a small profit during the year.

Singapore-based flatbread maker Rotimatic posted a 3.3x revenue growth in the financial year that ended December 31, 2021. The startup also managed to curtail its losses during the period.

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