Data Vantage | Rent 2 Own, Flash Coffee, Blue Planet, Sky Mavis and Pomelo in focus
Edition #353, 07 March 2024
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Dear Reader,
Myanmar-based motorcycle and consumer durable rental service provider Rent 2 Own (R2O) issued shares worth [redacted] million to private equity firm [redacted] and Miroslav Adamkovic, the startup’s chief financial officer, and others this week.
The firm offers two- and three-wheelers and consumer durables such as refrigerators and washing machines for rent. At the end of the rental contract, the customer owns the product. Founded in 2015, the company claims to have financed over 150,000 motorcycles with a combined value of over $70 million.
R2O had last announced securing $3 million in debt financing from impact investment fund Incofin in 2019. It previously raised $6 million from German development finance institution DEG and Belgium’s Incofin in 2018.
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Other updates from DATA VANTAGE
Several shareholders in the grab-and-go coffee startup Flash Coffee, including [redacted], [redacted] and Delivery Hero Ventures, have transferred their shares to a vehicle owned by venture capital firm White Star Capital.
Capillary Technologies, an Indian SaaS startup that offers loyalty management services, received $3 million from an existing shareholder this week.
Singapore-based farming company LivFresh received S$100k from investors, including Agrocorp Ventures, the investment arm of Agrocorp International, this week.
Travel tech startup ByMyGuest has bagged [redacted] million from investors, including its CFO Ola Strand Andersen, former Wilmar International chairman Wee Kiong Yeo, and Smile and Learn co-founder Blanca Montero.
Singapore-based waste management firm Blue Planet Environmental Solutions slipped back into the red on the back of its outsized spending on investments and acquisitions in the financial year ended March 31, 2023.
Gaming unicorn Sky Mavis, the company behind the Axie Infinity game, saw its losses balloon over 78x in the twelve-month period ended March 31, 2022, as its revenue more than tripled. During the year, about $625 million worth of cryptocurrency was stolen from Ronin, the blockchain underlying its crypto game.
Thai online fashion platform Pomelo curbed its losses marginally in the financial year ended December 31, 2022, as its revenue surged 35%.
India-based InterviewBit Technologies, the parent company of education startup Scaler, posted a nearly 6x jump in losses in the financial year ended March 31, 2022. Its revenue surged 3.5x during the period.
Singapore-based renewable energy company Canopy Power turned a profit in the financial year ended June 30, 2023, as its revenue grew over threefold.
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