Data Vantage | SpeQtral, Amilo, Articares bag funding; Dekoruma shares change hands

Edition #226, 17 Nov 2022

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Quantum communications startup SpeQtral received $1.5 million this week as part of an $8.3 million funding round announced in November last year.

The capital injection came from Xora Innovation, a deep science investment platform of state investor Temasek Holdings, and NUS Technology Holdings, which is owned by the National University of Singapore.

Other investors in the round included Golden Gate Ventures, SGInnovate, Space Capital and Japan’s TIS Inc, per regulatory filings.

SpeQtral on Wednesday announced the launch of a Quantum Networks Experience Centre in partnership with Toshiba Digital Solutions. The centre, touted to be Southeast Asia’s first, will serve as a platform to explore and prototype commercial use cases based on Quantum Key Distribution (QKD), which leverages the laws of quantum physics to create ‘un-hackable’ encryption keys.

Top shareholders in SpeQtral

Source: DATA VANTAGE

Singapore-based logistics startup Amilo came out of stealth mode this week with a $2 million funding round. It did not disclose its investors but regulatory filings show it will receive $1.5 million from entities owned by Sebastian Togelang, the founding partner of Rigel Capital.

Amilo also announced it has acquired a majority stake in Indonesian last mile aggregator Kahago and an undisclosed business in Vietnam. The company is understood to have used part of the proceeds from its latest financing for the acquisitions.

Other updates from DATA VANTAGE

Indonesian home decor startup Dekoruma recorded a slew of secondary transactions this week.

An entity owned by local conglomerate Djarum Group bought shares from several shareholders, including BEENEXT, Skystar Capital, Foundamental Gmbh, Gary Khoeng and Sandeep Aggarwal. The transactions provided an exit to Foundamental, Khoeng and Aggarwal, show regulatory filings.

In addition, Ondine Capital beefed up its stake in Dekoruma by purchasing shares from another shareholder. Separately, the VC firm said in a WeChat post last week that the Indonesian startup had raised new funding worth tens of millions of dollars.

Medical device company Articares bagged $1 million from SEEDS Capital, the investment arm of Enterprise Singapore, this week.

Language app Bluente received $460k this week from investors, including a Lippo Group subsidiary and individuals such as JJ Chai (Rainforest), Liang Jian Tan, Ravindran Kanesvaran and Siew Kum Hong.

Digital wealth management services provider PIVOT Fintech received nearly $204k this week, bringing its total equity funding thus far to $4.24 million.

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