Tracxn - Southeast Asia Tech Monthly Funding Report

TRACXN MONTHLY REPORT
AUGUST 2023
FIN TECH

Southeast Asia Tech - August 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
Contents
2
Fin Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 9
Top Funded Business Models - last 1 year 11
New Analyst Picks 12
Acquisitions 14
Recent News 15

Fin Tech Snapshot – August 2023
Fin Tech: Snapshot – August 2023
Note : "Investors" refers to "Institutional Investors" only
3
$199M
13
Overall Geo Stats
20
8
77
17
34
Funding Rounds $ Invested Analyst Picks
ALVA Upgraded to
SOONICORN
New Investors
AIM-HI Accelerator
Fund
Citi
Series A+ rounds Active Investors IPOs Acquisitions
Quantum Security
PouchNATION
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Singapore
(20 Rounds, $116M)
Jakarta
(6 Rounds, $4.7M)
Hanoi
(2 Rounds, $15M)
Ho Chi Minh City
(2 Rounds, $6.5M)
$50.0M - Series B
ALVA (2021, Tangerang, $50.0M)
$35M - Series B
Endowus (2017, Singapore, $95M)
$22.5M - Series B
Medisix Therapeutics (2017, Singapore,
$62.9M)
$15M - Series B
Telio (2018, Hanoi, $41.5M)
Antler
(3 Investments)
Ascend Vietnam Ventures
(2 Investments)
Mynavi
(2 Investments)
Investible
(2 Investments)
Electric Vehicles
ALVA
Investment Tech
Endowus
Life Sciences Platforms and Tools
Medisix Therapeutics
Oncology
DotBio
Market Size
Companies Covered 41,721
Funded Companies 5,911
Total Funding $82.0B
Funding in last 12 months $8.1B
Top Exits
IPOs 141
Acquisitions 682
Company Stage
Unicorns 39
Soonicorns 171
Minicorns 535
Editor Picks 2,752
Series A+ 1,217
Series C+ 211
Acqui-Hires 17
Deadpooled 9,865
Top Cities
Singapore (2,943 Rounds, $40.9B)
Jakarta (967 Rounds, $23.8B)
Top Investors
East Ventures (200 Investments)
500 Global (155 Investments)

Investment Snapshot
Investment Snapshot of Fin Tech as of August 2023
Fin Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (August 2023)*
ALVA
(2021, Tangerang, $50.0M)
$50.0M - Series B Horizons Ventures
Endowus
(2017, Singapore, $95.0M)
$35.0M - Series B Citi
Medisix Therapeutics
$22.5M - Series B
Telio
(2018, Hanoi, $41.5M)
$15.0M - Series B Granite Oak
ZTX
$13.0M - Seed Jump Crypto
MiyaHealth
$10.4M - Seed Fondation Botnar
Qashier
$10.0M - Series A Delivery Hero Ventures
Helio Protocol
$10.0M - Series A Binance Labs
Beleaf
(2019, Bogor, $8.8M)
$6.8M - Series A Alpha JWC Ventures
MFast
(2017, Ho Chi Minh City, $10.0M)
$6.0M - Series A Wavemaker Partners
DotBio
$5.6M - Seed Proxima Ventures
*Shows only the lead Investors

List of Funding Rounds (1/4)
List of Funding Rounds in Fin Tech in August 2023
Fin Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
EARLY STAGE
$125.0K - Series A
MY01 (2015, Singapore, $12.6M)
AI-powered medical device for the detection of
compartment syndrome
Antler
$2.1M - Series A
Neurowyzr (2016, Singapore, $5.1M)
Provider of mental health care therapy & monitoring
services
Jungle Ventures, Peak XV Partners
$6.0M - Series A
MFast (2017, Ho Chi Minh City, $10.0M)
Provider of automated sales and commission payment
platform for insurance and financial products
Wavemaker Partners, Krungsri Finnovate, Do Ventures,
Ascend Vietnam Ventures, JAFCO Asia, and 1 more
EARLY STAGE
$6.8M - Series A
Beleaf (2019, Bogor, $8.8M)
Producer of green leafy vegetables and microgreens
using hydroponic farms
Alpha JWC Ventures
$10.0M - Series A
Helio Protocol (2022, Singapore, $10.0M)
Platform offering a USD-pegged collateralized
destablecoin
Binance Labs
$10.0M - Series A
Qashier (2015, Singapore, $15.6M)
Provider of POS solutions for businesses
Delivery Hero Ventures, Cocoon Capital, Elevate Capital
EARLY STAGE
$15.0M - Series B
Telio (2018, Hanoi, $41.5M)
Online B2B platform offering grocery products
Granite Oak
$22.5M - Series B
Medisix Therapeutics (2017, Singapore, $62.9M)
Developer of CAR-T therapies to treat cancer and
autoimmune diseases
$35.0M - Series B
Endowus (2017, Singapore, $95.0M)
Goal-based investment platform
Citi, MUFG, Prosus, Singtel, UBS, and 2 more

6
EARLY STAGE
$50.0M - Series B
ALVA (2021, Tangerang, $50.0M)
Manufacturer of electric scooters
Horizons Ventures, Brama One Ventures, Indika
Energy, Foxconn Co-GP Fund
Series A
Allozymes (2019, Singapore, $5.0M)
Provider of solutions for enzyme development to treat
multiple diseases
Seventure Partners, Xora Innovation
Series A
PasarMIKRO (2020, Jakarta, $2.5M)
Developer of an online platform for point-of-sale
financing
Ceniarth, DEG
EARLY STAGE
Series B
TopCV (2014, Hanoi, $430.0K)
Platform for resume building and applying to jobs
Mynavi
SEED STAGE
$110.0K - Seed
Mole (2021, Kuala Lumpur, $110.0K)
Digital business card and mobile website software
Antler
$500.0K - Seed
Baskit (2022, Jakarta, $5.3M)
Provider of cloud-based supply chain distribution
solutions for wholesalers and distributors
Korea Investment Partners, Golden Equator Ventures
$500.0K - Seed
Wiziin (2020, Ho Chi Minh City, $500.0K)
Online platform provides data-driven investment
solutions

7
SEED STAGE
$751.8K - Seed
HeHealth (2021, Singapore, $751.8K)
AI-powered platform for men to scan sexually
transmitted diseases
Plug and Play Tech Center, ARKRAY
$1.0M - Seed
Cerebry (2016, Singapore, $1.0M)
AI-based tutoring platform for students
Ascend Vietnam Ventures, Pentathlon Ventures
$1.0M - Seed
Genexyz (2022, Jakarta, $1.0M)
Provider of virtual avatars for content creators
East Ventures, MassiveMusic, Future Creative
Network, MDI Ventures, Trinity Optima Production
SEED STAGE
$1.0M - Seed
GORO (2022, Jakarta, $1.0M)
Online platform to invest in real estate rental
properties through fractional investing
Iterative, XA Network, StashAway, Mike Broomell
$1.0M - Seed
KometGames (2022, Singapore, $1.0M)
Developer of mobile-based casual video games
Picus Capital, c3ecospace
$1.1M - Seed
CHOYS (2022, Singapore, $1.1M)
Online platform for employee health benefits
Wing Vasiksiri, Antler, Foremast,
SEED STAGE
$1.5M - Seed
Solar AI Technologies (2020, Singapore, $1.5M)
Provider of solutions for rooftop solar assessment
Earth Venture Capital, Undivided Ventures, Investible
$1.7M - Seed
Pi-xcels (2019, Singapore, $1.7M)
Provider of e-receipt solutions for retailers
Wavemaker Partners, Black Kite Capital, Hustle Fund,
Amand Ventures
$2.2M - Seed
BintanGO (2021, Jakarta, $4.8M)
App-based content marketing solutions for brands
Investible, eWTP Capital, Transcend Capital Partners

8
SEED STAGE
$5.6M - Seed
DotBio (2018, Singapore, $5.6M)
Provider of antibody-based therapies
Proxima Ventures, Gaorong Capital, AIM-HI Accelerator
Fund
$10.4M - Seed
MiyaHealth (2019, Singapore, $17.0M)
Digital medical cost management solution for payors
and employers
Fondation Botnar, HealthXCapital, ST Engineering,
Elev8
$13.0M - Seed
ZTX (2022, Singapore, $13.0M)
Developer of a play-to-earn metaverse platform
Jump Crypto, Maezawa Fund, Everest Ventures Group,
Collab+Currency, Parataxis Capital
SEED STAGE
Seed
AltLayer (2021, Singapore, $7.2M)
Blockchain-based network for hosting web 3.0
applications
Binance
Seed
Digital Entertainment Asset (2018, Singapore,
$22.0M)
Online marketplace platform to buy and sell NFTs
KDDI
Seed
Beep (2018, Singapore)
Payment solutions for vending machines
GGV Capital, XA Network
SEED STAGE
Seed
Antsomi (2020, Singapore)
Provider of AI-based customer data platform
D.A.Consortium
Seed
PrimaKu (2017, Jakarta)
Provider of an app for parents to monitor children's
growth and development
Northstar Group, AppWorks, BRI Ventures, B.I.G.
Ventures
Seed
Penbrothers (2014, Makati)
Provider of managed co-working spaces
Mynavi

New Investors (1/2)
List of New Investors in Fin Tech in August 2023
Fin Tech: List of New Investors
9
Investor Company Info Round Amount Round Name
AIM-HI Accelerator Fund
1 portfolio companies | Startup accelerator focused on the healthcare tech
sector
DotBio
$5.60M Seed
Citi
126 portfolio companies | Commercial bank
Endowus
Goal-based investment platform
$35.00M Series B
Trinity Optima Production
1 portfolio companies | Trinity Optima Production
Genexyz
$1.00M Seed
Undivided Ventures
3 portfolio companies | Venture capital firm focused on early-stage investments
Solar AI Technologies
$1.50M Seed
Earth Venture Capital
5 portfolio companies | Venture capital-backed startup studio focused on
climate tech companies
Solar AI Technologies
$1.50M Seed
c3ecospace
1 portfolio companies | C3ecospace – Creative Collective Capital | Creative
Industry Management Company in Atlanta
KometGames
Developer of mobile-based casual video games
$1.00M Seed
StashAway
1 portfolio companies | App-based robo advisor and savings platform for
individuals
GORO
Online platform to invest in real estate rental properties through
fractional investing
$1.00M Seed
Foxconn Co-GP Fund
1 portfolio companies | Venture capital fund investing in energy tech startups
ALVA
$49.99M Series B
Pentathlon Ventures
25 portfolio companies | Venture capital fund investing in early to series A stage
startups
Cerebry
AI-based tutoring platform for students
$1.00M Seed
Indika Energy
3 portfolio companies | Provider of EPC coal mining and oil & gas services
ALVA
$49.99M Series B

New Investors (2/2)
List of New Investors in Fin Tech in August 2023
Fin Tech: List of New Investors
10
Investor Company Info Round Amount Round Name
Ceniarth
12 portfolio companies | Single family office focused on multiple sectors
PasarMIKRO
Developer of an online platform for point-of-sale financing
Undisclosed Series A
fintechnation.io
2 portfolio companies | Home
CHOYS
$1.10M Seed
Seventure Partners
220 portfolio companies | Tech & Life Sciences focused stage agnostic VC firm
investing in Europe, Asia & the US
Allozymes
Provider of solutions for enzyme development to treat multiple
diseases
Undisclosed Series A
MassiveMusic
1 portfolio companies | Provider of sonic branding, licensing, and music
composition & production services
Genexyz
$1.00M Seed
Proxima Ventures
23 portfolio companies | Private equity investment firm focused on healthcare
industry
DotBio
$5.60M Seed
Black Kite Capital
4 portfolio companies | Venture capital fund backed by single family office
Pi-xcels
$1.70M Seed
Future Creative Network
2 portfolio companies | Provider of branding services
Genexyz
$1.00M Seed
ST Engineering
8 portfolio companies | Developer of SaaS-based end-to-end fleet management
solutions
MiyaHealth
Digital medical cost management solution for payors and employers
$10.40M Seed
Foremast
1 portfolio companies | Venture capital firm focused on startups
CHOYS
$1.10M Seed
Elevate Capital
37 portfolio companies | Seed and early stage sector-agnostic micro-VC firm
investing in the US and India
Qashier
Provider of POS solutions for businesses
$10.00M Series A

Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
11
Rank Business Model $ Funding # Rounds Top Funding Round
1 -- Online Women's Clothing Retailer $2.1B 2 SHEIN | $2.0B | Series D
2 ▲73 E-commerce Delivery Management Solutions $455M 2 Flash Express | $447M | Series F
3 -- Online Food Ordering Platforms $266M 2 LINE MAN Wong.. | $265M | Series B
4 ▼-2 Hyperlocal Delivery APP $265M 1 LINE MAN Wong.. | $265M | Series B
5 ▲4 C2B Used Car Marketplace $200M 1 Carsome | $200M | Series E
6 ▲59 Healthcare Booking Platforms $128M 2 Halodoc | $100M | Series D
7 ▲31 SMB Accounting Software $105M 4 Fazz | $75.0M | Series C
8 ▲180 Mobile Crypto Wallets $100M 2 MinePlex | $100M | Series C
9 ▲34 Business banking partnership platforms $100M 1 Aspire | $100M | Series C
10 ▼-4 RegTech Suite $80.0M 1 Advance Inte.. | $80.0M | Series E

New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Fin Tech in August 2023
Fin Tech: Analyst Picks
12
Upgraded to SOONICORN
ALVA (2021, Tangerang, $50.0M, Series B)
Horizons Ventures, Indika Energy, Brama One Ventures
and 3 other Investors
Upgraded to SOONICORN
Technosoft (2012, Singapore, Undisclosed, Seed)
Company provides dealer management systems for
automotive dealerships
Runa Capitaland
Upgraded to MINICORN
MiyaHealth (2019, Singapore, $10.4M, Seed)
Digital medical cost management solution for payors
and employers
Fondation Botnar, ST Engineering, Elev8 and 3 other
Investors
Added to Editor's Pick
Group-IB (2003, Singapore, Undisclosed, Series A)
AI based threat intelligence and risk protection
solutions
CSA, Altera Capital, Run Capital and 1 other Investors
Crayon Data (2012, Singapore, Undisclosed,
Conventional Debt)
Cloud based analytics solutions for businesses
Kris Gopalakrishnan, Mitsui & Co, Ratan Tata and 9
other Investors
Sequential Skin (2019, Singapore, Undisclosed,
Seed)
Provider of in-vivio microbiome testing platform for
skin care
Corundum Systems Biology, UK Research and
Innovation, Metaplanet and 5 other Investors
Pi-xcels (2019, Singapore, $1.7M, Seed)
Wavemaker Partners, Hustle Fund, Amand Ventures
and 2 other Investors

New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Fin Tech in August 2023
Fin Tech: Analyst Picks
13
Antsomi (2020, Singapore, Undisclosed, Seed)
Provider of AI-based customer data platform
D.A.Consortiumand
Boxme (2015, Hanoi, $6.4M, Series A)
Provider of end-to-end delivery services
Nextview, NganLuong, NextTech and 1 other Investors
HeHealth (2021, Singapore, $752K, Seed)
AI-powered platform for men to scan sexually
transmitted diseases
Plug and Play Tech Center,ARKRAYand
Cashbag (2019, Da Nang, Unfunded)
App-based platform offering cashback
Komunidad (2021, Singapore, $1.0M, Seed)
Provider of weather intelligence and climate data
analytics solutions
Wavemaker Partnersand
SociableKIT (2014, Quezon City, Unfunded)
Social media content platform for enterprises
PayTime (2015, Unfunded)
Cloud-based payroll software
NextVision (2016, Ho Chi Minh City, Unfunded)
Customer relationship management software for
businesses
DealA.com (2020, Singapore, Unfunded)
Online platform offering online digital coupons and
promo codes
Selfomy (2013, Ho Chi Minh City, Unfunded)
Community-based platform for self-study

Acquisitions
List of Acquisitions in Fin Tech in August 2023
Fin Tech: Acquisitions
14
Acq. Date Company Acquirer Deal Size
03 Aug 2023
Quantum Security(2019, Singapore)
Provider of cyber risk management platform
Armor Defense
03 Aug 2023
PouchNATION(2012, Singapore, $4.5M)
Provider of NFC and RFID-based wearables for ticketing and event
management
Lantern
04 Aug 2023
Boostr(2020, Purbalingga)
Provides e-commerce management solutions for marketplaces
Komerce
07 Aug 2023
1X(2018, Singapore)
Platform to invest & trade private securities
FOMO Pay
07 Aug 2023
CapBridge(2015, Singapore, $10.7M)
Investment platform for private market investors
FOMO Pay
10 Aug 2023
Saweria(2019)
Payment platform for creators and live streamers
IDN Media
12 Aug 2023
OLX Indonesia(2005, Jakarta, $13.7M)
Horizontal Online classifieds
Astra Digital
30 Aug 2023
CarsDB(2012, Yangon, $0.9M)
A D2C used car listing platform
iMyanmarHouse

Recent News (1/2)
Recent News in Fin Tech in August 2023
Fin Tech:News
15
Exit News
.
● Equity management platform Qapita acquires ESOP DirectIndiatimes
.
● Vietnam unicorn VNG files for Nasdaq IPO after EV maker VinFastNihon Keizai
Shimbun
.
● FOMO Group Acquires Two Singapore Financial Institutions, CapBridge and
1exchange, Expanding Into Capital MarketsZawya
.
● GoLogiq Signs to Acquire Vietnam-Based Payroll and HR Fintech Platform,
Symplefy, for $30 MillionGlobeNewswire
.
● Shein buys a third part of Forever 21 america-retail.com
.
● GoLogiq Plans to Acquire Swedish Fintech Company, Fram Venture 7, and its
Vietnamese SME-Lending Platform, Dra... GlobeNewswire
.
● Indonesia’s IDN Media acquires creator payment platform Saweria Shareandstocks
.
● Armor Acquires Quantum Security, Further Strengthening Its Position in the
Cloud Security and IT Risk MarketNewswire
.
People News
.
● Capillary Technologies elevates Anant Choubey and Sridhar BollamMoneycontrol
● LingoAce laid off hundreds amid expansion hurdles Tech in Asia
.
● Bukalapak conducts new round of layoffs Tech in Asia
.
● Indonesian fintech firm Ayoconnect lays off 10% workforce cionews.co.in
.
● Resolve Systems Names Sean Heuer as New CEO to Lead the Next PRWeb
.
● Operational Optimization, Bukalapak lays off its employees Dailysocial
.
Company News
.
● Mirxes receives US FDA's breakthrough device designation for blood-based
cancer detection test BioSpectrum Asia

Explore more on Tracxn
Explore more about Fin Tech on Tracxn Platform
Fin Tech: Explore more on Tracxn Platform
16
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Southeast Asia
AI Companies in Southeast Asia
Fintech Companies Southeast Asia
Consumer Digital in Southeast Asia
Company Due Diligence
Detailed profile of Ninja Van
Competitors of Trax
Cap Tables of Traveloka
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
Any and all information either accessed from the website www.tracxn.com or having otherwise originated from Tracxn Technologies Private Limited including but not limited to the
information contained herein ("Data") is the sole property of Tracxn Technologies Private Limited (hereinafter "Tracxn"). You shall not recirculate, distribute, transmit, publish, or sell the
Data or any portion thereof in any form or by any means, either for commercial or non-commercial use, or permit any third party to use or distribute the Data or any portion thereof; to any
other party, except with the prior written consent of Tracxn. You may however incorporate insubstantial portions, extracts, abstracts or summaries from the Data into analysis, presentations
or tools for your customers or for your internal use, so long as Tracxn is clearly and visibly identified as the source of information.
For further information please refer to our Terms of Use at www.tracxn.com

Tracxn - Southeast Asia Tech Monthly Funding Report

Recommended

Recommended

More Related Content

Similar to Tracxn - Southeast Asia Tech Monthly Funding Report

Similar to Tracxn - Southeast Asia Tech Monthly Funding Report (20)

More from Tracxn

More from Tracxn (20)

Recently uploaded

Recently uploaded (20)

Tracxn - Southeast Asia Tech Monthly Funding Report