Data Vantage | Tepbac, Little Farms, Klinik Pintar, OPAL Payment raise funds and more

Edition #329, 30 November 2023

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Vietnam-based aquatech platform Tepbac has allotted shares worth [redacted] million to investors, including Dutch investment fund Aqua-Spark and US-based AgFunder.

According to its regulatory filings, the startup has issued shares to investors that backed its recent pre-Series A round and noteholders. Tepbac had earlier said it plans to use the funds to digitise its business and scale its shrimp production.

Founded in 2012, the company started as an information website for the local aquaculture industry and now also offers IoT-enabled hardware and data systems for shrimp farmers.

Vietnam is one of the top five shrimp producers globally.

Singapore-based battery recycling company Green Li-ion’s revenue surged 4.8x in the financial year that ended April 30, 2023, according to its latest regulatory filings. The firm’s losses widened 66% during the period on the back of higher cost of sales and a surge in employee benefits.

Green Li-ion raised $20.5 million in a pre-Series B funding round in March this year from investors, including Banpu NEXT, Energy Revolution Ventures, TRIREC and corporate venture capital (VC) firm Equinor Ventures.

Founded by Leon Farrant and Reza Katal in 2020, the company claims to have developed the world’s first technology that fully remanufactures spent Li-ion batteries and waste.

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Other updates from DATA VANTAGE

Little Farms, a Singapore-based grocery chain selling dairy, meat and fresh produce, received a fresh capital infusion this week from a vehicle backed by hospitality tycoon [redacted].

Indonesia-based healthtech startup Klinik Pintar bagged [redacted] this week from local VC firm Venturra.

Singapore-based fintech startup OPAL Payment secured fresh funds this week from Oceanus InnoVenture.

Singapore-based cybersecurity startup SquareX received $100k from [redacted], a managing director at local firm [redacted].

US- and Singapore-based precision oncology company Lucence’s losses doubled during the financial year ended March 31, 2023, as its revenue declined by 74%.

India-based healthcare services provider RED.Health, formerly known as StanPlus, saw its losses balloon 18.4x in the twelve months ended March 31, 2023. The company’s revenue grew 41% during the same period.

Singapore-based aerospace engineering company airGo’s losses more than halved in the twelve-month period ended April 30, 2023, while its revenue more than doubled.

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