Data Vantage | Staffinc, SIRCLO, SynPhNe, Una Brands and SwipeRx in focus

Edition #356, 19 March 2024

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Dear Reader,

Indonesia-based digital staffing platform Staffinc received [redacted] million from Altara Ventures and Mynavi Corporation last week.

The share price in the latest transaction is the same as that in the startup’s Series B1 round, which commenced in 2023. As part of that round, Staffinc had raised fresh equity funding from Altara, Mynavi, Antler, Access Ventures and Golden Gate Ventures, among others. Including share allotment to convertible noteholders, the round total stood at [redacted] million prior to the latest capital injection.

Established in 2018, Staffinc offers recruitment and workforce management solutions that include identifying and screening job applicants, monitoring daily performance, payroll calculations and disbursement, and procurement of tools to support daily operations. Formerly known as Sampingan, the company is available in more than 350 cities in Indonesia and claims to have catered to more than 150 companies.

Indonesia-based e-commerce enabler SIRCLO received a fresh capital infusion from [redacted] last week.

The company had issued preference shares at the same share price as that in the latest transaction to investors, including Vertex Ventures Southeast Asia & India and East Ventures, worth [redacted] million last year. It had also allotted ordinary shares to investors worth an additional $8.5 million in 2023.

SIRCLO provides an omnichannel platform that enables brands to connect offline and online business environments under one roof. Its platform helps simplify business processes by integrating customer interactions, inventory, and logistics into a single, coherent environment.

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Singapore-based medtech startup SynPhNe, which provides wearable solutions to aid stroke survivors and patients with neurological disorders, received $1.7 million from Event Horizon Technologies, an affiliate of India-based single-family office Nadathur Group, last week. The company had recently announced securing $5 million in fresh funding.

Epigenomics startup Auristone received $1.45 million from investors, including SEEDS Capital, last week. The company recently closed a $4 million seed round.

AIRE, a Singapore-based startup specialising in adult incontinence products, has received $500k from DSG Consumer Partners and Wing Vasiksiri’s WV Fund II.

Biotech company Ento Industries, which uses black soldier flies to convert food waste into animal feed, has secured fresh funding from angel investors Tak Wai Chung and Te-Ling Nai.

Singapore-based e-commerce brand aggregator Una Brands saw its losses balloon 10x in the financial year ended December 31, 2022, as its revenue jumped 8.7x.

Southeast Asian pharmacy network SwipeRx, formerly known as mClinica, recorded a 27% surge in losses in the twelve-month period ended June 30, 2023. Its revenue went up by 2.6x during the year.

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