Data Vantage: Used car marketplaces rev up for growth with new funding
Online car marketplaces in South and Southeast Asia raked in more moolah last week as investors continue to place higher bets in an increasingly competitive market.
India-focused Cars24 bagged $258.6 million from various investors last week. Of the total, Zennis Capital, DST Global and Alpha Wave Ventures pumped in $74.99 million each. The other big investor was Moore Strategic Ventures, which invested $22.7 million. Cars24’s valuation has risen to $1.6 billion after the funding, cementing its position as a unicorn.
One of Southeast Asia’s major players, Carsome, received close to $23 million last week alone. The majority of it came from Catcha Investments, with Daiwa PI Partners providing the rest.
The funding is part of a $170 million funding round announced by Carsome earlier this month. The company received as much as $146 million in equity funding as part of the round in late August, show its ACRA filings.
Leading online car marketplaces in South and Southeast Asia
Earlier in June, Singapore-based Carro had closed a $360 million funding round to join the region’s unicorn club.
Other updates from DATA VANTAGE
Plant-based protein startup Growthwell Groupraised $15.9 million in funding from Temasek Holdings and French investment firm Creadev. The company had secured an $8 million funding round led by the Singapore state-owned investment firm last year.
Singapore-based artificial intelligence startup secured $500,000 from venture capital firm software company in Feb 2020. Its Eureka AIB&Y Venture Partners last week. The funding is understood to be part of the $20 million round announced by the enterprise regulatory filings show it has so far raised $13.43 million in equity funding as part of the said round.
Healthtech firm ‘s regulatory filings show it received $300,590 last week from Leuu Inc Pte Ltd. The company recently announced it has closed a $10 million Series A round led by Neuroglee Therapeutics Openspace Ventures and EDBI, the investment arm of Singapore’s Economic Development Board.
Oncology startup bagged fresh funding amounting to $342,543 last week. The capital came from new investors including AUM Biosciences Asa Capital Partners and Pureland Global Venture.
Originally published at https://www.dealstreetasia.com.
