Data Vantage | Thunes, Sky Mavis, OATSIDE, XM Studios and GXS Bank receive capital

Edition #291, 18 July 2023

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B2B payment infrastructure company Thunes received $12 million from Singapore-based investor EDBI, global payments giant Visa and US-based Endeavor Catalyst last week.

The latest funding brought its Series C round total to $72 million. It had earlier raised $60 million as part of the round from hedge fund manager Marshall Wace, US-based venture capital firm Bessemer Venture Partners, and growth-stage fintech investor 01Fintech.

Thunes confirmed the funding hours after DealStreetAsia first reported it on Monday morning.

Sky Mavis, the company behind the play-to-earn game Axie Infinity, has received [redacted] million from Andreessen Horowitz (a16z) and Animoca Brands.

A company spokesperson told DealStreetAsia the latest funding marks a downsizing of a $150 million round it had secured last year to reimburse users affected by a $620-million hack on the Ronin Network, its official sidechain wallet.

Sky Mavis is now valued at [redacted] billion, down from over $3 billion in 2021, according to our calculations.

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Other updates from DATA VANTAGE

Singapore-based plant milk startup OATSIDE has received [redacted] million in fresh funding from Venezio Investments, an indirect subsidiary of Temasek Holdings, and GGV Capital. The company had raised $65.6 million in a round led by the two investors last year.

Singapore-headquartered digital lender GXS Bank received another S$137 million (nearly $104 million) from Southeast Asian tech major Grab last week. Including the latest capital injection, the neobank has now bagged [redacted] million this year alone from Grab. GXS is also backed by Singtel.

XM Studios, the Singapore-based maker of handcrafted luxury art collectibles, received [redacted] million from [redacted], Heliconia Capital and other investors last week.

Car-sharing startup GetGo received $3.77 million last week from investors. It announced securing S$20 million from investment firm Treis Group in February this year.

FMCG company Believe received $2 million from Venturi Partners last week. The funding is part of a $55 million round announced last year.

Singapore-headquartered fintech company Lightnet allotted shares worth over $1 million to Hong Kong-based venture studio [redacted] last week.

Marketing and tech consultancy Ematic Solutions bagged [redacted] last week from a group of investors, including Wavemaker Partners, Ondine Capital and SEEDS Capital.

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