Data Vantage | Virtuos, NousQ, GDMC, Oddle and Atome in focus

Edition #357, 21 March 2024

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Dear Reader,

Singapore-headquartered video game development company Virtuos has allotted shares worth [redacted] to Keith Guerrette, the founder of Los Angeles-based full-service visual effects studio Beyond-FX, according to regulatory filings.

Virtuos recently announced the acquisition of Beyond-FX to strengthen its real-time visual effects capabilities. The US-based studio has worked on projects such as 2XKO, Mortal Kombat 1, Valorant, The Callisto Protocol and Call of Duty: Black Ops Cold War.

Virtuos, which began its journey with a studio in Shanghai in 2004, announced in 2021 that it had secured a $150 million investment from private equity firm EQT Private Capital Asia, formerly known as BPEA EQT.

The company, which operates in Asia, Europe, and North America, aspires to become the top external game developer globally. As part of its expansion spree, it launched new game development studios in Vietnam and Tokyo and engineering-focused Virtuos Labs in Warsaw and Prague last year.

Singapore-based medtech company NousQ received a fresh capital injection this week from its founder, Dr Lynne Lim, and individual investors, including Dr Ranjiv Sivanandan and Dr Tay Miah Hiang.

According to its regulatory filings, the investment is part of the company’s pre-Series A round.

NousQ, which manufactures and commercialises medical technology and devices, had raised $1.62 million in a pre-Series A bridge round last year through the medtech venture platform VentureBlick. It bagged over $1.2 million in seed funding in October 2021.

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Other updates from DATA VANTAGE

Singapore-based biotech company Genetic Design and Manufacturing Corporation (GDMC) received $2.55 million from SEEDS Capital this week. The funding is part of the startup’s $21 million Series A round led by Celadon Partners, which was announced in January.

Restaurant tech startup Oddle’s shares changed hands this week. According to regulatory filings, Cercano Management bought shares worth [redacted] million from shareholders, including RB Investments and Fidelis Capital.

South Korean fintech startup AIZEN Global has issued ordinary and preference shares worth [redacted] million to a group of investors, including Translink Investment, this week. The company had last announced raising $4.2 million in 2020 for its Southeast Asia expansion.

Singapore-based fintech company Atome Financial has issued new shares worth $2.65 million to parent Advance Intelligence Group.

Indonesian fintech startup Cicil has secured $658.6k in new funding from a UK-based investor.

500 Southeast Asia-backed Pakistani online pharmacy Dawaai recorded a 2.3x jump in losses for the financial year ended June 30, 2022. Its revenue surged 3.1x during the period.

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