Data Vantage: South and Southeast Asia’s tech firms hand in report cards
This week, we look at some of the well-funded software and information services firms in the region that have recently reported their financial results.
Data intelligence startup Near reported revenue of $18.9 million in the year ended March 31, 2020, a 46% increase from the previous year. Its losses also went up, albeit at a slower pace of 36%, to $12.3 million in the fiscal.
Near founder and CEO Anil Mathews had earlier told DealStreetAsia that the firm was in talks with investors to raise over $100 million in fresh funding.
Capillary Technologies, which offers customer relationship management software and marketing analytics for retailers, reported flat revenue growth in FY2020 but saw its losses narrow down to $11.7 million. The Singapore and Bengaluru-based technology firm has so far raised over $80 million in equity financing. It has also raised venture debt from InnoVen Capital in the past.
Financials of Capillary Technologies
Deskera Singapore, a provider of accounting and CRM software, recently reported financials for the year ended December 31, 2019. Its revenue and losses came down slightly to $58.02 million and $16.4 million, respectively, in the fiscal year.
DeClout, which invests in and incubates technology companies in Asia, reported a 36% YoY revenue growth in the financial year ended December 31, 2020. However, its losses widened to $9.1 million in the fiscal. The firm operates various entities such as ARCO, Aeqon, GUUD, and DeClout Ventures, its corporate venture arm.
Other updates from DATA VANTAGE
ReDefine Capital Fund, the Singapore-registered arm of Alibaba-backed eWTP Technology Innovation Fund, pumped $10 million into Ficus Asia Investment last week. The fund had earlier invested $50 million in Ficus in 2020.
Lion TCR, a clinical-stage biotechnology company, recorded multiple secondary transactions earlier this week, leading to the addition of Skyline Capital Investment to its cap table. The biggest beneficiary would be Wang Shuli — likely to be the company’s COO Tina Wang — who divested her entire stake comprising over 2 million shares.
Doerscircle, a solutions platform for freelancers and the self-employed, received $280,000 in paid-up capital from a group of individual investors last week. Esben Sofren Poulsson, the chairman of ship management firm Ensel, pumped in $150,000 alone.
This week, data solutions provider Qorenext secured $40,000 from angel investors, including marketing tech entrepreneur Kristin Luck and The NPD Group CFO Tom Lynch.
Alternative investment platform Kilde received a capital injection of $142,301 from its parent company Kilde Holding Pte Ltd this week.
Originally published at https://www.dealstreetasia.com.
