Data Vantage | Saladin, Green Li-ion bag capital; AntWorks, others file financials
Edition #308, 14 September 2023
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Vietnam-based insurtech company Saladin received [redacted] million from Monk’s Hill Ventures this week. The funding is part of the startup’s recent pre-Series A round.
Its regulatory filings show that the startup has secured about [redacted] million in fresh equity funding and issued shares to simple agreement for future equity (SAFE) investors, including Peak XV Partners and Patamar Capital.
Initially focused on providing microinsurance, Saladin has broadened its portfolio and now offers a wider range of non-life and health insurance products to both retail customers and micro, small, and medium-sized enterprises (MSMEs).
Green Li-ion, a Singapore-based green tech startup that specialises in battery recycling technology, received a capital injection from Twin Towers Ventures, the venture capital arm of Malaysian energy major PETRONAS, this week.
The corporate VC firm has also bought shares in the startup from its two founders, Leon Farrant and Reza Katal, as well as other shareholders, including [redacted].
Twin Towers Ventures now owns over [redacted]% of Green Li-ion. The green tech startup had secured $20.5 million in a pre-Series B round in March.
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Other updates from DATA VANTAGE
Indonesian climate tech startup Rekosistem received [redacted] million from investors, including East Ventures and Skystar Capital, last month. The capital injection is part of the startup’s recently announced $5 million financing.
Singapore-based wealthtech platform PIVOT Fintech saw its losses dive over 19% in the financial year ended December 31, 2022, as its revenue plunged 85.7%.
Intelligent document processing company AntWorks recorded an 18% drop in revenue for the financial year ended March 31, 2021. Its losses expanded 2.3x during the period.
East Ventures-backed Gokomodo, an Indonesian agriculture supply chain platform, posted a net loss of [redacted] million in the twelve months ended December 31, 2022. The startup had no revenue during the year.
Delivery Hero Ventures-backed cloud communications provider Toku saw its losses nearly double in the financial year ended December 31, 2022, even as its revenue jumped 49.7%.
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