Data Vantage | Story Protocol, BioCheetah and BetterData bag funding, Believe files financials

DealStreetAsia
3 min readMay 18, 2023

Edition #274, 18 May 2023

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Story Protocol, a Web3 startup that seeks to change how intellectual property is created, governed and licensed on the blockchain, received nearly [redacted] last week as part of its seed funding round.

The startup has secured about $29.3 million in the round, its regulatory filings showed. The round was led by Andreessen Horowitz.

Story Protocol’s largest shareholder is [redacted], who is understood to be its founder and CEO. He previously founded the serial fiction app Radish, which was acquired for $440 million in 2021 by South Korea’s Kakao.

Investment firm [redacted] bought shares in Singapore-based ecoSPIRITS this week from Belgium-based Dental Innovations BVBA and now owns nearly 5.5% of the company.

The Belgian investor had previously pared its holding in the circular economy startup by selling shares to [redacted] earlier this month.

ecoSPIRITS recently announced the close of a $10 million funding round, which comprised $8 million in new equity funding.

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Other updates from DATA VANTAGE

Novade Solutions, which offers field management software for use in the building and construction industry, received [redacted] million from SIG and Cercano Management, formerly known as Vulcan Capital, this week.

Crypto technology company CYBAVO received [redacted] million from parent Circle Internet Financial this week. The latter acquired CYBAVO last year.

Singapore-based diagnostics startup BioCheetah received [redacted] million from a new investor this week in fresh funding.

BetterData, a startup that uses programmable synthetic data to secure actual data, received $1.14 million in seed funding this week from investors, including Investible, Entrepreneur First and XCEL NEXT. It also issued seed shares to convertible noteholders as part of the round.

Accel-backed FMCG company Believe Pte reported a nearly threefold increase in net losses for the year ended March 31, 2022. Its revenue, meanwhile, surged 3.5x during the period.

Indonesia-based MSME enabler Majoo posted a 2.15x growth in revenue for the year ended July 31, 2022. Its net losses surged by 4.2x during the period.

Bangladesh-based online payments startup SureCash reported an 80% decline in revenue for the financial year ended June 30, 2022. Its losses came down by nearly 23%.

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