Ecosystem Roundup: Malaysia gets new US$25M startup fund, NextTech sets up US$50M fund in VN, Kopi Kenangan may soon hit unicorn status

Kopi Kenangan may hit unicorn status with Falcon Edge-led round
As per a report, the coffee chain is in advanced talks to raise US$100M in Series C; Its existing investors, including Sequoia, GIC, and B Capital are also participating; In 2020, the online beverage retailer raised US$109M Series B led by Sequoia.

Crypto miner Bitdeer to go public through US$4B SPAC merger
The Singapore company was spun off from Chinese bitcoin mining giant Bitmain in January and has been doubling down in its adoption of renewable tech in digital asset mining; The SPAC Blue Safari Group went public in June, raising US$57.5M from IPO.

Vietnam’s NextTech sets up US$50M fund to invest in blockchain startups in SEA
Next100 Blockchain will also serve as a venture builder to incubate entrepreneurs and qualified technical experts in the blockchain domain to start businesses under NextTech; AntLaunch, a decentralised platform that allows crypto-based projects to fundraise, will conduct due diligence of the projects.

Lazada co-founders’ new e-commerce enabler CREA locks in US$25M from SuperOrdinary
The collaboration will help CREA attract new brands to SEA’s e-commerce ecosystem by offering a one-stop solution covering the US, China and SEA; CREA’s core services include store and channel management, fulfilment, digital marketing, data insights, creative and omnichannel solutions.

Kejora Capital, Sunway Group launch new US$25M fund for Malaysian startups
It will also introduce an initiative called “Jakarta Express” to help Malaysian startups and investors explore opportunities in the Indonesian market; Alongside Orbit Malaysia’s current active investments, Kejora Capital has previously invested in regional startups in various industries.

Gojek forms JV with energy company to develop two-wheel EV infrastructure in Indonesia
Gojek and TBS Energi Utama will team up to build a comprehensive and scalable EV ecosystem, including two-wheel EV manufacturing, battery packaging, battery swap infrastructure and EV financing.

Jeff Bezos-backed Indonesian startup Ula rakes in US$23.1M from Tiger Global, Flipkart co-founder
Ula is a horizontal multi-category wholesale e-commerce marketplace that combines modern retail’s technology, tools and skills with the lean cost structure of traditional micro-retail; It claims to have grown 230x since its launch and offers over 6K products and serves 70K+ traditional retail stores in Indonesia.

Sleek lands US$14M Series A to offer back-office services to SMEs worldwide
Investors include Jungle Ventures and White Star Capital; Sleek automates and integrates company setup, financial and regulatory reporting, bookkeeping, and banking services; Sleek manages a portfolio of over 5K businesses that produce US$700M in sales and complete over 1.4M accounting transactions in 2020.

Thai Wah Group launches VC arm to back food, agtech startups in SEA
The VC firm will invest in eight to 10 early-stage startups over the next two to three years in its first phase; It will look at startups that are revenue-generating and on the brink of scaling their business.

Thai e-logistics startup GIZTIX nets US$10M in Series B, eyeing IPO in 2025
Investors include WHA Group, AddVentures, KK Fund, and CAC Capital; GIZTIX help business customers to outsource delivery services and manage their own trucks simultaneously.

SG-, UK-based payments firm Pomelo Pay banks US$10M Series A led by Inference Partners
Pomelo Pay provides integration with over 30 payment networks globally. It’s used by both banks and NBFIs; It plans to enter new markets in Europe and Asia; The startup said it has processed over US$500M in payments for the year, projecting a 5x increase by 2022.

InLife leads investment round of Filipino D2C insurtech platform Maria Health
Co-investors are Wavemaker Partners, tryb Group, and Celo Foundation; Maria Health aims to simplify comparing, choosing and purchasing health insurance through its D2C marketplace; About 10% of its first-time coverage buyers are families of Overseas Filipino Workers, and 75% are women.

Golden Gate Ventures co-leads US$4M round of Indonesian healthtech firm Klinik Pintar
Co-investors are PT Bundamedik, Skystar Ventures, and Sequis Life; Klinik Pintar helps its users book teleconsultations, virtual health services, as well as in-clinic sessions; It currently has over 120 clinics from 60 Indonesian cities on its platform.

Ex-Rocket Internet Asia head secures US$3M seed capital for his on-demand workspace venture
Investors include YC, GFC, Pioneer Fund, Seed X, Starling Ventures, and TSVC; Deskimo provides on-demand access to over 100 professional workspaces in Singapore, Hong Kong, and now Jakarta.

Resync scores US$2M from GGV Capital to expand energy management solutions to Asia, Middle East
Resync provides an energy cloud platform for renewable energy assets, building energy management, and industrial energy management; So far, Resync boasts of having deployed its solutions in more than 150 buildings and 300 MWp of solar assets with over 20 customers in seven markets in APAC.

Malaysia’s ReSkills, ‘Netflix model in e-learning’, bags US$1.5M to expand across SEA
Investors include JSF Platinum and unnamed angels; ReSkills allows coaches to build online courses on their preferred topics and applies a subscription model for learners; It focuses on education-based services, with a target age ranging from 15 to 35 years.

AgFunder-backed agritech accelerator Grow opens applications for 3rd cohort
Grow will invest up to US$200K for each startup accepted to its third Impact Accelerator cohort; Applicants should at least have a minimum viable product, operate in at least one market, and be “well on the way to establishing product-market fit.”

Gojek officially launches GoCar service in Vietnam
Gojek had wanted to roll out car-hailing services in the country much earlier but faced difficulties in getting permission from regulators; It also had to reshuffle its leadership team in Vietnam, losing two CEOs within 18 months.

Indonesian influencer platform KaryaKarsa bags US$500K from Accelerating Asia, others
KaryaKarsa can help content creators distribute and monetise their works, such as books, comics, and videos; Currently, there are 40K creators and 300K users on its platform; The company will use the fresh funds to provide more offerings and onboard more content creators.

Image Credit: Kopi Kenangan

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