Data Vantage | Zepto, Columbia Asia, AIZEN and Maya Innovations in focus
Edition #410, 26 September 2024
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Dear Reader,
Indian quick commerce unicorn Zepto received $317.8 million last week from investors, including General Catalyst, Mars Growth Capital, Lightspeed Venture Partners and StepStone Group.
General Catalyst contributed [redacted] million to the tranche, while Mars Growth Capital invested [redacted] million.
The investment is part of a $340 million Series G round announced by Zepto in August, which followed a $665 million Series F round in June. The company’s share price went up [redacted]% in two months, according to DATA VANTAGE.
Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto competes in India’s $1 trillion retail industry, alongside Amazon and Walmart-owned Flipkart. It delivers everything from grocery and personal care items to electronic gadgets in minutes.
Zepto is reportedly planning to go public in 2025. However, it would need to improve its financial performance to convince retail investors. It reported a net loss of [redacted] million for the financial year ended March 31, 2023. Its net profit margin stood at -63%, an improvement from -282% in the previous year.
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Other updates from DATA VANTAGE
Private hospital chain operator Columbia Asia allotted shares worth [redacted] million last week to several investors. The largest allotment went to parent HLT Healthcare Holdings, a joint venture between Malaysian conglomerate Hong Leong Group and funds managed by private equity firm TPG.
Other recipients include Chen Kim Lian, KVC Group, [redacted] and Tamil Selvan Muthusamy. The share allotment follows a similar move in August and indicates that a rumoured consolidation of Southeast Asia-based healthcare assets of Hong Leong, TPG and its portfolio company TE Asia Healthcare Partners is underway.
South Korean AI startup AIZEN received [redacted] million last week from a vehicle managed by JB Investment, the venture capital (VC) arm of JB Financial Group. The investor is also buying secondaries in the company, bringing its total investment to [redacted] million, according to regulatory filings. The funding from JB is part of a larger Series B round.
Mixed martial arts company ONE Championship’s Singapore unit received $2 million from its Cayman Islands-based parent entity last week.
Singapore-based VC firm TRTL Ventures has bought shares in healthcare company [redacted] from Wavemaker Partners.
Indonesian edtech startup PINTAR received [redacted] from investors, including Havez Capital and SIG Venture Capital, last week.
Philippine fintech major Maya Innovations, formerly known as Voyager Innovations, reduced its losses by 25% in the financial year ended December 31, 2023. Its revenue grew nearly 28% during the period.
Singapore-headquartered wealth management firm BetterTradeOff (BTO) halved its net loss for the financial year ended March 31, 2024, as its revenue more than doubled.
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