Data Vantage | UTown, GetGo and Vizzio bag capital; GGV buys eFishery stake

Edition #315, 10 October 2023

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Singapore-based metaverse builder UTown received [redacted] million in fresh capital last week from existing and new investors to support its bid to build a meeting platform equipped with features that it claims are “impossible on Slack, Zoom or Google Docs”.

Existing shareholders, including Northstar Group, SMDV and East Ventures, contributed [redacted] million to the latest funding, while the rest came from new investors such as GSR Ventures and Vision Plus Capital, a China-based investment firm founded by Alibaba co-founder Eddie Wu.

In March, UTown had raised $4.7 million from investors, including Advance Intelligence Group, Northstar and East Ventures.

Global venture capital firm GGV Capital acquired a minority stake in Indonesia’s aquaculture giant eFishery through the secondary market last week.

The VC firm purchased a mix of ordinary and preference shares, amounting to a [redacted]% stake in eFishery. Wavemaker Partners was the biggest beneficiary of the transaction among those who pared their stake in the Indonesian firm.

eFishery, which turned unicorn earlier this year, was last valued at $1.4 billion.

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Other updates from DATA VANTAGE

Singapore-based ride-hailing platform GetGo Carsharing received $3.8 million from existing shareholder Treis Group last week.

Vizzio Technologies (VIZZIO), a Singapore company that publishes 3D digital models of buildings and cities, has allotted new shares to a number of entities, including Singtel Innov8.

KarmaClub, an angel investment network co-founded by former GoPay CEO Aldi Haryopratomo, raised [redacted] million in fresh capital last week from investors, including Flourish Ventures.

SWAT Mobility, a Singapore-based company that provides on-demand transportation and delivery, has raised capital from UTEC, iGlobe Partners and G.K. Goh Ventures. The mobility tech company has raised more than $20 million to date.

AcadArena, a campus gaming startup based in the Philippines, has raised additional capital worth $450,000 from existing investor Blockchain Capital.

Chennai-based online freight rate management solutions provider Freightify has raised $2.4 million as part of its Series A1 round. The company had earlier raised $12 million in its Series A financing led by Peak XV Partners.

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