Data Vantage | Thunes, Shohoz, Axcynsis and PICKUP COFFEE report updates

Edition #279, 06 June 2023

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Singapore-based fintech startup Thunes received an additional $25 million in Series C funding this week.

The fresh capital came from California-headquartered investment firm [redacted]. The cross-border payments company is now valued at over [redacted] million.

Thunes had earlier raised capital in the same round from Marshall Wace, one of the world’s largest hedge fund managers, in March.

The company, which enables payments to 130 countries, posted revenue of [redacted] million in the financial year ended Dec 31, 2020, up 66.7% year on year, according to its most recently filed financial statement. Its net loss for the period stood at [redacted] million, widening by 143% from the previous year.

Bangladesh-based online ticketing platform Shohoz has issued shares worth [redacted] million to investors, including VNV Global and Golden Gate Ventures. These are Series A1 shares allotted upon conversion of notes issued previously, per its regulatory filings.

The company also plans to issue anti-dilution shares worth [redacted] to investors that participated in its last round in 2018. Read our story for the details.

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Other updates from DATA VANTAGE

Philippines-based grab-and-go coffee chain PICKUP COFFEE received [redacted] million from Venturi Partners last week.

Singapore-based biotechnology company Axcynsis Therapeutics, formerly known as Tetris Therapeutics, received [redacted] million last week from Trinity Innovation Fund and [redacted].

Indonesian social commerce startup Evermos received $1.5 million from Telkomsel Mitra Inovasi last week. The funding is part of the company’s recently announced $39 million round, which was led by the International Finance Corporation (IFC).

Skincare products maker Allies Group, the company behind the Allies of Skin brand, received [redacted] million from investors, including e-commerce investor [redacted], last week.

Applied NanoTek, which makes environmentally-friendly nano-based solutions, bagged $508k last week from several individual investors.

Singapore-headquartered vCargo Cloud, which offers trade and logistics-related solutions to governments and businesses, reported a 49% surge in revenue and a 42% narrowing of its net loss in the financial year ended December 31, 2022.

Indonesian online grocery startup Pasarnow posted revenue of [redacted] million in the year ended Dec 31, 2021. It remains in the red.

As a free subscriber, you’re reading a redacted version of DealStreetAsia’s premium DATA VANTAGE twice-weekly newsletter. Unlock access to the complete version by picking up any of our premium subscription plans. Anticipate Asia’s Rising Stars and Secure Lucrative Exits

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