It was a big week in Asia as we saw 14 startups get funded. Singapore-based I3 Precision has got to be a personal favorite because it’s a very meaningful startup that could save lives.
Moovz, a location-based social app for gay guys, has secured a new round of funding worth $1.4 million to help it grow. The Israel-based startup has so far attracted $2.4 million in funding since the app’s launch last October. The app is proving most popular in the Philippines, followed by users in Mexico, the US, and Brazil.
Ximalaya, an audio-streaming startup, recently closed a series A funding round of $11.5 million. According to the company’s official release, the investment was led by big name VC firms including Kleiner Perkins, Sierra Ventures, and SIG China.
Indonesian energy company Dian Swastatika Sentosa (DSS) invested S$4.4 million (US$3.5 million) into Singapore-based internet service provider MyRepublic for 5.9 percent ownership. DSS is part of Indonesian conglomerate Sinar Mas Group. MyRepublic CEO Malcolm Rodrigues recently explained – during our Startup Asia Singapore event – that he’s aiming at a MyRepublic IPO in 2017.
EBay-backed Snapdeal revealed another US$100 million funding round from five new investors: Premji Invest, Temasek, BlackRock Inc, Myriad, and Tybourne. Snapdeal’s last round was just three months ago, when it secured $134 million from eBay, Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital, and Saama Capital.
HelloMarket is like Craigslist on steroids, with a better interface oriented around photos and a built-in escrow payments system. It has secured KRW 3 billion (US$2.93 million) in funding to grow the business and help it expand from Korea into several Asian markets.
The funding round was led by Korea’s GS HomeShopping, along with input from Hanhwa Investment, Daesung Private Equity, and Hanbit Investment.
Amazon dropped a US$20 million funding round on Chinese fresh food estore, Yummy77. The two sites will remain separate entities, but Yummy77 stated on Weibo the investment will help enrich Amazon’s product categories. Amazon could use this investment to expand something similar to its AmazonFresh grocery service to China.
The number of people who die from preventable medical errors in hospitals is astonishing. Last year, as many as 440,000 people were dying yearly from such mistakes. Among these are medication errors, which is the third leading cause of death behind heart disease and cancer in America. This was why Red Dot Ventures decided to invest S$589,000 (US$470,000) in I3 Precision, a Singapore-based startup whose primary goal is to reduce medication errors, improve patient safety, and increase productivity for hospitals and pharmacies.
Sansan, a startup that specializes in scanning and storing business card details, has secured US$14 million in funding led by Silicon Valley investment firm DCM. The company will use the money to launch its product in the US and extend its reach in Asia.
Bangalore-based creative gifting company Chumbak raised over US$2 million funding from Matrix Partners and existing investor Seedfund. Seedfund previously invested close to US$2 million in the company back in February 2013. It currently operates in 16 Indian cities and in Japan.
AfterShip, a B2B package tracking platform for online retailers, has closed US$1 million in series A funding from IDG Capital Partners. The new money will be used to develop delivery analytics tools to monitor shipping performance, identify delayed shipments, and provide more accurate delivery timings. There will also be enhancements made to its tracking button.
The company behind online programming lecture service CodeCamp – TribeUniv – raised 40 million yen (US$400,000) from CyberAgent Ventures. Its learning platform was launched in October last year, after it got US$30,000 funding from Incubate Fund last July.
12. Yoyo | Singapore
Singapore-based Yoyo raised about 130 million yen (US$1.3 million) from GREE Ventures, CyberAgent Ventures, and Incubate Fund. Yoyo is also the startup behind online rewards platform, Candy. The new money will be channeled into marketing and solidifying its back-end infrastructure.
13. Akatsuki | Japan
Tokyo-based mobile app developer Akatsuki announced it raised 1.4 billion yen (US$14 million) from Globis and Link and Motivation. The new funding will be used to accelerate its international business expansion efforts. It will be setting up a Taiwanese subsidiary called Akatsuki Taiwan next month to cater its games to Chinese-speaking markets.
14. Mizhe | China
Chinese online shopping rebate website Mizhe has completed a second round of funding led by IDG, with participation from Highland Capital Partners. The terms of the investment were not disclosed. Mizhe’s series A funding happened back in early 2013.Editing by Steven Millward