Data Vantage | Us2.ai, SCI Ecommerce rake in fresh funding and other updates
Edition #169, 26 April 2022
Dear Reader,
Singapore-based medtech startup Us2.ai received $15 million last week from a group of investors as part of a recently announced Series A round.
Parkway Holdings, a healthcare services provider under IHH Healthcare, invested $5.4 million in the round. Other Series A investors included Heal Partners, EDBI, Sequoia Capital India and Partech Ventures.
The company, formerly known as Eko.ai, has developed a US FDA-cleared AI software that fully automates a complete echocardiography report. Its Series A shares were allotted at $45.46 apiece, four times the share price in its previous funding round.
Top shareholders in Us2.ai
Source: DATA VANTAGE
E-commerce enabler SCI Ecommerce received fresh funding of $7 million last week from Asia Partners and another investor. The capital infusion follows a $5 million investment by EDBI earlier this month.
The investors paid $3.59 for each SCI Commerce preference share, or about three times more than the price in a 2021 fundraising.
Slow and steady: Healthtech firms make their mark
In the first quarter of 2022, healthtech companies in Southeast Asia closed 11 deals worth $135 million, according to DealStreetAsia’s latest report. Although these figures are far lower than fintech and e-commerce, which continued to dominate startup deals in the region, healthtech had its share of strong performers in Q1.
Biotech startup MirXes, which focuses on early cancer detection, emerged as the biggest fundraiser among healthtech startups in Q1 after closing its Series C round at $87 million. Its financing was higher than the median value of all Series C deals in the region in the first quarter.
Meanwhile, the second biggest fundraiser in the sector in Q1 was Vietnam’s Jio Health, which bagged $20 million in its Series B round. The funding was led by healthcare and education-focused private equity firm Heritas Capital.
Other updates from DATA VANTAGE
Vietnamese B2B e-commerce firm Telio received $22.5 million from VNG Corporation and another $1.5 million from GGV Capital last week as part of a previously announced pre-Series B round.
Singapore-based biotech startup Allozymes received $2 million last week from Xora Innovation, SOSV, Entrepreneur First, and TI Platform as part of a round announced last year. The company is understood to be in talks to close a new $30 million round.
Gaming and esports startup RSG received $1 million from Tembusu Partners and other investors last week. The investors paid $20.12 per share, or double the price in the startup’s previous funding round.
Thai company Intouch Holdings sold its entire stake in Ninja Van to European parcel delivery company GeoPost/DPD Group through a secondary market transaction, according to a regulatory filing. GeoPost is currently the largest shareholder in the logistics company with a nearly 45% stake.
Philippine online payment startup JazzyPay welcomed ASEAN Fintech Group as its majority shareholder last week following a recently announced $1.8 million acquisition. ASEAN Fintech purchased an 87% stake in the startup from Cocoon Capital and JazzyPay co-founders Kathleen Acosta and Joshua Marindo.
UK-based Apis Partners purchased an 11% stake in loyalty programme company Giift through secondary market transactions last week, according to a regulatory filing. Apis had in early January announced a $50 million investment in Giift.
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