Data Vantage | Singapore’s carbon exchange gets capital boost and other updates
Edition #198, 11 Aug 2022
Dear Reader,
Singapore’s carbon exchange and marketplace Climate Impact X (CIX) has received a major capital boost from its shareholders in its efforts to tackle climate change.
The company’s parents, which include Temasek Holdings (Pieter Investments), SGX (Asian Gateway Investments), DBS Bank and Standard Chartered, have injected S$28.4 million ($20.6 million) in new capital recently, doubling CIX’s total paid-up capital to date to S$42.4 million (nearly $31 million).
Earlier in June, CIX signed a strategic technology partnership with Nasdaq to power its spot trading platform, which will launch early next year. The company reported $10.6 million in losses last year, its financial report shows.
Top shareholders in CIX
Source: DATA VANTAGE
Separately, last week, in a follow-up to its acquisition of B2B payments provider Wallex, Singapore-based fintech services provider M-DAQ allotted new shares worth $28.78 million to special purpose vehicles (SPVs) affiliated with the former. Two entities entirely owned by Wallex co-founder Hiro Kiga were among the beneficiaries, as was an SPV owned by several Wallex shareholders, including Singapore-based Marqet Investment Management.
M-DAQ announced the completion of the Wallex acquisition on Wednesday. “This is an incredibly exciting milestone for us, as this synergy marks the first of many steps in expanding our ecosystem,” it said in a LinkedIn post.
M-DAQ also issued shares worth a combined $14.76 million to its executives last week, with an SPV owned by founder and group CEO Richard Koh getting the lion’s share of the allotment.
The fintech company is currently valued at nearly $500 million, according to our calculations.
Local vs global: Who will win the SVOD war in Indonesia?
Our consulting editor Angus Mackintosh recently delved into Indonesia’s evolving but highly competitive SVOD market, where local, regional and global players are pitted against each other.
Vidio and Disney+ Hotstar emerged as the top gainers in the first quarter of 2022, growing their share of premium video consumption to 28% and 15%, respectively, from 19% and 10% in Q4 2021.
A differentiating factor and the key to success for SVOD players is being able to provide high-quality content. This is where local players such as Vidio and MNC’s Vision+ have an edge. But Disney+ Hotstar has emerged as a wild card and made its mark with more than 5 million paying subscribers, partly thanks to its bundling program with the country’s largest telco provider, Telkomsel.
Source: OTT players, media reports
Netflix, Viu and WeTV lost ground in Q1, but the second quarter will see Netflix’s integration with Telkomsel and IndiHome. Regional player Viu, which is backed by Hong Kong tycoon Richard Li, is also a strong contender. Its monthly active users grew over 30% yearly to reach 58.6 million in 2021.
Access our report to get the latest update on the SVOD landscape in Indonesia.
Other updates from DATA VANTAGE
Southeast Asia-focused cross-border e-fulfilment startup Locad has raised nearly $8 million in a Series A funding round led by Reefknot Investments. Other high-profile investors include Sequoia’s Surge and FEBE Ventures.
London-headquartered resale-as-a-service platform Reflaunt has issued shares worth nearly $9 million to more than a dozen investors, including Zurich-based Bombyx Capital Partners and Shanghai-based Ventech China, as part of its latest funding round.
Singapore-based proptech company 99 Group has allotted more shares to investors that backed its $52 million Series C funding round. The company has so far received $37.6 million, with the rest expected to come in the coming months as it plans to expand beyond Singapore and Indonesia.
Indonesian logistics startup Paxel this week confirmed our report on its $23 million Series C funding round led by PT Astra Digital Internasional, the venture builder arm of local conglomerate Astra. The latter led the round with a $14.5 million contribution. Other investors include SIG, Endeavour Catalyst and MDI Ventures.
Indian food discovery and delivery platform Zomato appears to have completed its $568 million acquisition of quick commerce unicorn Blinkit, the latter’s latest filings in Singapore show. The deal provided an exit to major investors such as Tiger Global, SoftBank Vision Fund and Sequoia Capital.
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