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10 startup funding rounds in Asia last week

FUNDING_WEEKLY

An exciting and very mixed bag of startups got funding this past week, including the winner of our recent pitching contest at Startup Asia Singapore.

1. GrabTaxi | Malaysia

Malaysia-based GrabTaxi, which runs an app-connected taxi booking service across Southeast Asia, has secured US$15 million in series B funding led by GGV Capital. China’s Qunar and Vertex Ventures also contributed money to this round.

Once the news came out, we talked to GrabTaxi and GGV to find out what comes next. Read that here.

2. PolicyBazaar | India

PolicyBazaar, an Indian portal offering price comparison and analysis of insurance products, now has US$20 million (INR Rs 119 crore) in funding. It did not disclose who the investor or investors were, but it did clarify that its existing investors are not part of this series C funding round.

The new capital will be used to ramp up technology and work towards enhancing customer experience, seamless platforms, and an extensive range of product offerings.

3. Baojia | China

Beijing-based peer-to-peer car rental startup Baojia announced it received US$5 million from undisclosed angel investors. Baojia lets users lend and rent their idle automobiles, but it’s only available in Beijing for the time being.

4. Flipkart | India

India’s biggest online marketplace, Flipkart, has raised US$210 million in funding. The investment is led by Russia’s DST Global, followed by existing investors Tiger Global, Naspers, and Iconiq Capital. This brings Flipkart’s total funding to date to US$750 million, the highest of any Indian startup. It’s previous round closed out at US$360 million in October.

5. Coupang | South Korea

Coupang, the rapidly-growing Seoul-based ecommerce startup, has raised US$100 million in an investment led by Sequoia Capital Global Equities and Sequoia Heritage. The funding will be used to help the company continue its quest to clinch Korea’s online shopping market.

6. Bindo | Hong Kong

Bindo, the Hong Kong and New York City-based retail point-of-sale startup, announced it has closed a US$1.8 million seed round from Gary Vaynerchuk, East Ventures, and Metamorphic Ventures (Disclosure: East Ventures is also an investor in TechinAsia. See our ethics page for more information). Bindo was our Startup Arena competition winner at last month’s Startup Asia Singapore 2014.

7. Edai | China

Softbank China is getting in on the action with an estimated US$10 million investment into financial services company Edai. In addition to the P2P lending service that it launched this year, Edai offers traditional loans and free loan consultation. The Chengdu-based company was founded in 2006 and now exists both online and has brick-and-mortar offices in China.

8. Toppr | India

India’s online exam preparation platform Toppr raised US$2 million from Saif Partners and Helion Ventures. The new money will be used to develop content and to look for new distribution channels.

9. 51Fanli | China

Online rebate and consumer directory platform 51Fanli wrapped up US$20 million in series B funding from SIG China Investment. It first raised an eight-digit funding round led by Qiming Venture Partners and Disney’s venture capital arm, Steamboat Ventures, back in 2011.

The new funding will be used to expand offline rebate services to construct a marketing platform that integrates various brands and their online/offline retail channels.

10. Daxiang | China

Daxiang is an online condom retailer for the Chinese market. It has just closed a US$5 million series A funding round. This startup models itself on phone-maker Xiaomi in the way it markets itself and sells its wares.

Editing by Steven Millward

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