Tech in Asia - Scoot me up, Beam

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FOMO Saturday

Hello there

When I was in Melbourne central business district last week - on holiday - it surprised me how many people used e-scooters to get around.

While I didn’t use one myself, I was pleasantly surprised to see the name of Singapore-headquartered startup Beam plastered on their sides - always nice to see something from home even while I’m 6,000 kilometers away.

Now back at work, I see Beam’s name again. This week, the micromobility company raised a a series B funding round worth US$93 million, which it plans to use to speed up the deployment of its fifth generation e-scooter and introduce e-mopeds into its vehicle inventory.

You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.
 

Let’s dive into the biggest deals and M&As that recently took place.

-- Nathaniel
 


 

THE BIGGEST DEALS BY COUNTRY

 

🇨🇳 Inceptio: The Chinese autonomous driving tech firm raised US$188 million in series B funding from Broad Vision Fund, Cedarlake Capital, Chow Tai Fook, Eight Roads, Legend Capital, Meituan, NIO Capital, Sequoia Capital, and Wuchan Zhongda Logistics Investment Group.

🇮🇳 Niyo Solutions: The Bangalore-based payroll-and-benefits startup bagged US$100 million in series C money from Accel Partners, Beams Fintech Fund, JS Capital, Lightrock India, and Prime Venture Partners.

🇰🇷 RIDI: The South Korea-based e-book provider got US$96 million in series F funding from Atinum Investment, Government of Singapore Investment Corporation, and KDB Bank.

🇸🇬 Beam: The Singapore-headquartered micromobility company scored US$93 million in series B money from AC Ventures, Affirma Capital, EDBI, Hana Ventures, ICT Fund, RTP Global, SMRT Momentum Ventures, and Sequoia Capital.

🇮🇱 MDClone: The Israel-based digital health firm secured US$63 million in series C funding from Lightspeed Venture Partners, OrbiMed, Viola Group, Warburg Pincus, and aMoon.

Here’s the complete list of this week’s funding chart: 136 deals worth over US$1.1 billion.

 


 

M&As

 

🇮🇳 CollegeDekho Group, a Gurugram-based edtech startup, has acquired local student engagement platform GetMyUni for US$6.6 million.

🇮🇳 Chargebee, an Indian cloud-based recurring billing provider, acquired local automation platform Numberz for an undisclosed sum.

🇮🇳 WayCool, an India-based agritech startup, acquired the intellectual property rights of GramworkX, a smart farm resource management tool for an undisclosed amount.

🇮🇳 Upscalio, an Indian ecommerce roll-up firm, acquired local online-first brands Gizga, Tizum, Aircase, and HomePuff for an undisclosed sum

🇮🇳 Kitchens@, a Bangalore-headquartered cloud kitchen company, merged with New Delhi-based competitor Kitchens Centre.

🇮🇩 Konvergen AI, a Jakarta-headquartered machine learning firm, was acquired by US-based annotation solutions provider Datasaur for an undisclosed amount of money.

 


 

STARTUPS THAT ARE RAISING FUNDS


Fundraising is hard. To make things slightly easier, we’ve compiled this list of fundraising startups for our subscribers. Do you run a startup that’s raising at the moment or know someone who does? Sign your company up for listing here.

🇸🇬 FlexBase International is a Singapore-based climate change-focused company that develops multipurpose sustainable floating platforms that have applications in agriculture, aquaculture, power generation, hospitality, housing, and logistics.

🇮🇩 Konco is an Indonesia-headquartered mobile application that simplifies the process of cemetery rentals, funeral bookings, and any other services related to funerals.

🇸🇬 Navigate Commodities is a Singapore-based startup working on digitalizing the commodity supply chain in real time.

You can find the full list of fundraising startups in Asia over here.

 
 

KILLER PITCH DECKS

1️⃣ This blockchain firm’s pitch deck got it US$12.5 million in funding

Stader Labs is a non-custodial, smart contract-based cryptocurrency staking platform that helps retail and institutional investors discover and access staking solutions. It used this pitch deck for its strategic funding round last January. The deck states the company’s vision and key performance figures at the start, following it up with its founders’ profiles and a list of its backers. It also highlights background problems in staking and how its service addresses those pain points.
 

2️⃣ The deck that helped a Singapore co-living startup raise US$740,000

Bespoke Habitat, a Singapore-based co-living and property management startup, provides spaces where clients can live, work, and play. It used this pitch deck to raise its seed round from undisclosed angel investors this year. The deck provides an overview of the company and introduces its team, going on to highlight the solutions that Bespoke Habitat offers. It also shares the startup’s unique selling point and business model.
 

3️⃣ An ex-Morgan Stanley exec used this pitch deck to raise US$2 million

Zoe Financial is a wealth management platform that curates a network of independent, commission-free fiduciary financial advisors and planners without any intermediaries. The startup - founded by former Morgan Stanley employee Andres Garcia-Amaya - used this pitch deck to raise US$2 million in seed money in 2018. The deck introduces the company before moving on to funding details. It also shares information about Zoe’s market size, its business model, milestones, roadmap for the future, and its competitors.

 


 

EXCLUSIVE LISTICLES

 

Lists of most active investors in the region

China | India | Indonesia | Japan | Singapore | Southeast Asia
 

List of top-funded startups in Asia

China | India | Indonesia | Israel | Japan | Hong Kong | Singapore | South KoreaVietnam
 

List of largest exits in Asia

China | India | Indonesia | Singapore | Southeast Asia

 


 

THOUGHTFUL READS

 

1️⃣ The impact of geopolitical risk on innovation

Rising levels of geopolitical risk can stifle private sector innovation, especially for companies with enough exposure to foreign markets. This Harvard Business Review piece offers some strategies to help companies minimize that impact.
 

2️⃣ An inside look at how early-stage venture investments happen

First-time founders can find it difficult to picture the investment process at VC firms after they make their pitch. Balderton Capital partner Suranga Chandratillake demystifies that process in this blog post to help founders pitch better.
 

3️⃣ Becoming more than just a VC

Aspiring VC Sterling Schuyler has decided that she actually doesn’t want to be a VC anymore - she wants to be something better. Read her thoughts on the matter and her plans to achieve that goal in this blog post.
 

4️⃣ Biotech founders are flocking to tech VCs for funds at their riskiest stage

Biotech founders seeking funding are often asked to give up control of their startups when they try to raise their seed rounds. That’s why many are now turning to tech VCs, who are more open to backing founder-CEOs and willing to take less equity. Read more in this Insider article.
 

5️⃣ Cold emails: The secret path to VC money

Two-time founder and now Google product manager Zev Lapin has raised over US$500,000 in VC money via cold emails. He details the many ways budding entrepreneurs can write the emails for the people they want to pitch to in this Tweet thread.

Did these eye-popping figures shock you? Share this with a friend who would enjoy this week’s funding news as much as you do. 😉

If you liked today’s edition, give us some feedback here.

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Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi. 
Today’s edition was written by Nathaniel Fetalvero. It’s edited by Arpit Nayak.


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