Data Vantage | Rukita, Spark Systems, M Village, ConnectedLife Health and Toku in focus

Edition #354, 12 March 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,

Indonesian proptech firm Rukita issued shares worth $12.95 million to a group of investors, including MPower Partners, Openspace Ventures, Shunwei Capital and Golden Gate Ventures, last week.

The share allotment is part of a recently announced $15 million Series B1 round, which comprises [redacted] million in new equity funding and the conversion of previously issued simple agreement for future equity (SAFE) notes.

This is the first investment in Southeast Asia by MPower Partners, a Japan-based, ESG-focused venture capital (VC) fund.

Focused on long-term rental properties in Indonesia, Rukita offers solutions spanning property management and marketing, an online marketplace, and financing for landlords. According to DATA VANTAGE, the company’s largest shareholder is a vehicle owned by [redacted] and [redacted].

Female founders secure larger share of startup funding in 2023

According to a report by DealStreetAsia released last week, startups in Southeast Asia with a female founder or co-founder — referred to as female-founded startups — raised $1.4 billion in funding in 2023, or 18.4% of the total private capital raised during the year. Their share of the total funding was 12.6% in 2022.

While the total amount of funding raised by female-founded startups declined by 29.5% year over year, this was a smaller correction than the over 51% plunge in total funding during the year, per Female Founders in Southeast Asia 2023.

The report also delved into fundraising by all-women founding teams and female-founded, female-led startups. It found an improvement on both fronts in 2023 compared to the previous year.

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

Singapore-headquartered fintech startup Spark Systems has received [redacted] million so far from Farquhar VC and another investor as part of an ongoing Series C round.

Vietnam-based co-living startup M Village issued shares worth $3 million to VC firms Genesia Ventures, Access Ventures and Vulpes last week. The company had closed an internal round of funding in November.

Singapore-headquartered healthtech company ConnectedLife Health has allotted shares worth $3.1 million to investors, including Dubai-based family office Simba Investments.

Cloud communications provider Toku received [redacted] million from Hong Kong- and Singapore-based VC firm Betatron Venture Group last week.

Philippines-based SME lender ProCredit received $100k from the Gobi-Core Philippine Fund last week. The investment is part of a $4.1 million round announced in February.

Thai online car rental company Drivehub bagged $650k from Toyota Tsusho and CAC Capital last week.

Southeast Asian fintech platform Fave has received yet another capital injection from parent company Pine Labs.

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.