Ecosystem Roundup: TurtleTree raises US$30M, Vidio closer to becoming unicorn, Tiket to go public next year

TurtleTree raises US$30M in first tranche of Series A funding led by VERSO Capital
Having just launched its Sacramento R&D facility in September, the cell-based milk startup will now use the funds to continue expanding its portfolio of sustainable, better-for-you food items; TurtleTree will now use the funds to continue expanding its portfolio of sustainable, better-for-you food items.

Indonesian travel startup Tiket to go public next year
CEO George Hendrata said the OTA startup is considering going public through a US$2B merger with a SPAC; The startup is also exploring other options, such as a traditional IPO as well as a potential merger with a Southeast Asian super app.

Alibaba-backed BAce Capital joins US$5M round of Philippine cloud kitchen firm CloudEats
Other investors are Vulpes Investment, Gobi Partners, Intera Investments, and GMA Ventures; CloudEats will use the fresh funds to scale its proprietary smart kitchen tech, open new markets across Southeast Asia, and develop new brands like Burger Beast.

Emtek’s Vidio raises US$150M from Affinity Equity Partners
The deal boosts Vidio’s post-money valuation to US$900M, getting it closer to achieving unicorn status; Vidio offers more than 1M on-demand videos, including exclusive sports and entertainment content; As of last month, it had an average of 62 million monthly active users on average and 2 million paid subscribers.

Thai cabinet to regulate digital platform service businesses
Such businesses, both in and outside of Thailand, will need to notify the government before operating; The law will apply to various digital platform services, including online marketplaces, social commerce, food delivery, space sharing, ride/car sharing and online search engines.

IDX’s profile to change as Indonesia’s biggest tech startups plan IPOs
Along with the likes of Bukalapak, which was listed earlier this year, and GoTo, which is eyeing an IPO next year, the startups are expected to change the composition of the Indonesian stock exchange; The IDX is now dominated by traditional companies like banks and manufacturers.

Multiplier bags US$13.2M in a Sequoia-led Series A round to simplify international employment
Multiplier will use the new capital for global expansion and scaling its payroll and benefits solutions for businesses; It is a global employment platform that helps companies employ, onboard and pay their global talent compliantly.

Indonesian model Luna Maya’s D2C cosmetics brand NAMA Beauty attracts US$5M seed funding
Investors are AC Ventures, SiCepat Ekspres and DMMX; NAMA Beauty will use the capital for R&D development and launching a new second-line brand.

Meet the first batch of startups that received investment from Accelerating Asia’s US$20M Fund II
80% of Cohort 5 startups address at least one of the United Nations’s SDGs, such as gender equality, responsible consumption and production, and industry, innovation and infrastructure.

Indonesian edtech-focused VR platform Shinta bags pre-series A funding
The investor is TigaLapan Investama Group and Investa Syailendra Nuswantara; Shinta offers three models: a VR-based learning platform for K-12 called Millealab; an enterprise training platform known as SpaceCollab; and a virtual character platform that can be used to build a virtual YouTuber.

SG food-waste upcycling firm Crust Group bags funding to enter Japan
Investors include Glocalink Singapore, Ales Global, and Mitsui Sumitomo Insurance Venture Capital; Crust Group is fighting food waste by upcycling surplus ingredients into unique beverages for food service and retail partners.

Vietnamese edutech eJOY snags seed funding
Investors are ThinkZone Ventures and BK Fund; eJOY has created a tech product that lets users actively learn English while watching videos on YouTube, Netflix, Coursera, and other platforms; The tool serves as a plug-in to web browsers and allows learners to look up, collect and understand the context of new words while consuming video (with subtitles) or article content on the go.

A quick look at the 6 new startups graduating from Entrepreneur First Singapore
Startups include ESGnie, OSbiome, Powerhouse AI, Suggestr, Quantum Boost, and Jackett; These startups tackle challenges across ESG investing, microbiome sequencing, edutech and R&D manufacturing, among others.

Understanding pre-money, post-money valuations; option pools and dilution
This article discusses the concepts around pre-money and post-money valuations, option pools and dilution, as they are all interrelated concepts that affect the dilution that you can expect when you raise money.

The realistic scenario of the startup market in Southeast Asia
The Southeast Asian market is giving importance to several startups varied across different services; Some of the significant ventures that have stood out from the competition are Grab, Tokopedia, Gojek, Momo, and PropertyGuru.

Image Credit: TurtleTree Labs

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,Ecosystem Roundup: TurtleTree raises US$30M, Vidio closer to becoming unicorn, Tiket to go public next year | e27
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