Data Vantage | Tonik’s valuation surge, InterviewBit’s funding, and other updates
Edition #154, 3 March 2022
Dear Reader,
Digital bank Tonik’s valuation has surged to over $550 million after a Series B funding round announced in February, according to DealStreetAsia — DATA VANTAGE calculations based on its regulatory filings.
As part of the round, the company raised $113.3 million in fresh equity funding and allocated Series B shares worth $18 million to Keep It Simple Security (KISS) holders.
Lead investor Mizuho Bank invested $62.5 million in the round and has appointed its representative Hiroshi Kato as a director on Tonik’s board, according to the neobank’s filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA).
Prosus Ventures and Insignia Ventures both contributed about $10 million in fresh capital, while Sequoia Capital India and iGlobe Partners invested $5 million each.
The KISS holders that received Series B shares include iGlobe, Altara Ventures, Insignia Ventures and Sequoia India.
Top shareholders in Tonik
Source: DATA VANTAGE
India-based edtech platform InterviewBit has raised $10 million in an extension of its Series B round, which was closed in December at $45 million. The round was led by private equity firm Lightrock India, which was also the Series B lead investor.
InterviewBit’s Series B1 share price is up 77% from its Series B round.
Other updates from DATA VANTAGE
Marketing tech startup Knorex bagged $2.4 million in Series C financing earlier this week, bringing its round total to $19 million.
Foodtech startup Glife has allocated shares worth $1 million to a Temasek Holdings subsidiary upon conversion of options granted earlier. It plans to make a similar allocation worth $420,000 to Hibiscus Fund, a venture capital fund managed by Malaysia’s RHL Ventures and South Korea’s KB Investment.
Jakarta-based regtech startup OnlinePajak registered an over tenfold increase in its revenue for the financial year ended March 31, 2021, according to its latest regulatory filing.
Australia’s iCandy has completed the acquisition of a 51% stake in Singapore-based games developer Storms by purchasing shares from SK Telecom, AIS Digital and Digital Gaming Investments.
Singapore-based electronics waste management company TES-Envirocorp has increased its stake in energy storage startup GenPlus to 60% through secondary transactions. Earlier this month, South Korea’s SK Ecoplant announced the acquisition of TES-Envirocorp from private equity firm Navis Capital.
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