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16 startup funding rounds in Asia last week

FUNDING_WEEKLY

It’s another big week here in Asia as we saw 16 notable startups receive funding. It’s encouraging to see some startups we’ve been following very closely, such as iCarsClub and 2C2P, involved in the action. Congratulations!

1. Kabuku | Japan

Japanese 3D printing service Kabuku announced US$2 million in series A funding led by CyberAgent Ventures. The company, founded in January 2013, operates Rinkak – an online marketplace where users can buy and sell 3D-printed products.

2. iCarsClub | Singapore

Car sharing app iCarsClub has secured $10 million in series A funding. It operates in Singapore under the iCarsClub name, and in mainland China as PPZuche. Clifford Teo, iCarsClub managing director, tells Tech in Asia that the funding comes from Sequoia Capital China, Crystal Stream Capital, Wang Xing (the CEO of daily deals site Meituan), Zhuang Chenchao (CEO of travel booking site Qunar), and Huang Mingming (Future Capital). It’s notable that all those investors are Chinese, but Teo says that the funding will go towards both the Chinese and Singapore services.

3. ZAP | Philippines

Philippines-based consumer rewards startup ZAP has wrapped up US$850,000 in funding from Siemer Ventures, Seawood Capital, existing investor Kickstart Ventures, and other local angels. ZAP’s newest funding round allows for its further expansion in the Philippines and Southeast Asia. It aims to expand into Bangkok, capital of Thailand, and Jakarta, capital of Indonesia, by the first quarter of 2015.

4. Mogujie | China

China’s biggest Pinterest look-alike, Mogujie (literally translated as “Mushroom Street”), has raised a US$200 million round of funding. Goldman Sachs’ Magnolia Fund led the investment followed by Zhixin Capital, Qiming Ventures, IDG, and Banyan Fund. Mogujie stated it will use the money to enhance customer experience, develop its team, and create an open-source community to support its ecosystem.

5. Sova | Singapore

Singapore-based startup Sova has raised about $3 million in seed funding from undisclosed investors. The startup was launched in December 2013 to provide webmasters using WordPress with dedicated cloud hosting services.

6. Bilin | China

Bilin, a Chinese app that lets you call and chat with total strangers in your area, revealed that it has secured $15 million in series A funding from Qiming Venture Partners and Morningside Ventures.

7. Cabara | Indonesia

Cabara, an online marketplace for domestic helpers in Indonesia, has received a fresh US$50,000 of seed funding from Abu Dhabi-based Bin Awas General Services to continue developing the business in Indonesia. Cabara plans to use the money to enter the Middle Eastern market – starting with Abu Dhabi.

8. Zapya | China

The Chinese makers of file transfer app Zapya have secured US$20 million in series B funding from IDG to help grow the business both in China and overseas. It is available in English or Chinese (where it’s called Kuaiya). The app makes it easy for people to share files, peer-to-peer, over a wi-fi network so long as everyone involved has Zapya installed.

9. Artoncode | Indonesia

Indonesian game developer Artoncode has received seed funding from Indonesian media giant Emtek Group for an undisclosed sum. The two companies want to make and market quality homegrown gaming products and characters for a global market.

10. PhilSmile | Philippines

Education payment startup PhilSmile this week received an undisclosed amount of seed funding from international remittance service TransferTo. With the new funding, the startup aims to grow its partner schools in the Philippines while also building partner merchants and payment platforms in different countries such as Singapore, Hong Kong, the US, the UK, and Dubai.

11. ByteDance | China

The developer of Chinese news reader app Today’s Headlines (今日头条), ByteDance, has secured US$100 million in funding. This is ByteDance’s third round of funding after a US$5 million series A round and an undisclosed series B round led by DST.

12. 2C2P | Thailand

2C2P, a Bangkok-based online payment processing company, has secured an undisclosed amount of funding from GMO Global Payment Fund, a sister company of GMO Payment Gateway, which also invested US$500,000 into the startup late last year. This investment aligns with GMO Payment Gateway’s latest move to partner with 2C2P as the business expands into Thailand.

13. WritePath | Singapore

Online editing startup WritePath has raised a seed funding round worth US$525,000. Japan’s B Dash Ventures led the round, with a bevy of Taiwan-based investors including Pinehurst Advisors, Jamie Lin (founder of AppWorks, Taiwan’s homegrown startup accelerator), and Jackie Cheng (co-founder of Gogolook, which Line parent company Naver acquired last Autumn) pitching in.

14. Fastacash | Singapore

Payments startup Fastacash announced this week that it raised US$3.5 million in funding from Jagdish Chanrai, principal at the Kewalram Chanrai Group and Golden Orile Investments, along with prior investors Jungle Ventures, Spring SEEDS Capital, and Funding the Future. The round will top up the company’s funding to US$8 million.

15. FortunePay | India

Bangalore-based epayment processing startup FortunePay has raised under US$1 million in funding led by existing investor Kae Capital. Mumbai Angels and Growx Venture Management also participated in this round.

16. Octro | India

Mobile gaming company Octro has raised US$15 million in series A funding from Sequoia Capital.

Editing by Steven Millward

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