DATA VANTAGE | RushOwl secures $7.3m from Alibaba, Gobi, and other updates
Edition #469, 15th May 2025
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Andi Haswidi
May 15, 2025
Dear Reader,
Smart mobility startup RushOwl has officially welcomed Gobi Partners and Alibaba Group as shareholders, securing a combined S$9.8 million (approx. $7.3 million) in capital — marking the company’s largest funding round to date.
Gobi Partners led the round with a [redacted] commitment via its Gobi SMA I, LPF fund, while Alibaba Entrepreneurs Fund, the not-for-profit initiative backed by Alibaba Group, invested [redacted] in the Singapore-based company.
The latest round brings RushOwl’s total paid-up capital to [redacted]. Based on the latest share allotment price of [redacted], the company is now valued at approximately [redacted], according to …
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Mobility tech hits speed bump
Mobility tech startups in Southeast Asia have not escaped the region-wide funding slowdown that began in late 2022. Although that year saw a spike in capital — $165 million across 12 deals — it was largely driven by leftover optimism from 2021 and a few large rounds.
In 2023, deal volume hit a five-year high at 18, but that didn’t signal a market recovery. Instead, it reflected investor attempts to diversify across smaller, more cautious bets. The overall value peaked at $219 million, though this was buoyed by outliers.
Source: DealStreetAsia’s DATA VANTAGE
By 2024, the crunch was in full view. Deal count fell to 12 and value dropped to $90.8 million — down more than 50% year on year. The drop reflects not just smaller rounds but fewer high-conviction deals. Investors are clearly pulling back from experimental or hardware-heavy models lacking short-term traction.
The funding pullback has created a gap, with many mobility tech startups facing delays or pivots. But advances in AI — particularly in fleet optimisation and predictive logistics — could help reignite investor interest by offering clearer paths to efficiency and scalability.
Access our quarterly reports for in-depth sectoral analysis of venture capital activity across Southeast Asia.
The data and information in this newsletter comes from DATA VANTAGE, which tracks regulatory filings to provide you with the latest information on startup fundraising, shareholding and financials. Find out how it can aid you in your decision-making — book a demo today or write to us at subs@dealstreetasia.com
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Other updates from DATA VANTAGE
[Redacted], a Singapore-based precision oncology company, has issued $12.7 million in ordinary shares so far this year to 25 entities, bringing its total paid-up capital to $132.3 million. Major recipients include [redacted], [redacted], and [redacted].
[Redacted], one of the largest shareholders in Tyme Group, has secured a partial exit from the neobank by transferring 44 million preference shares to fellow cap table member [redacted] …
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