Rising startups: Mobility continues to get funding

Which are the startups that are on the path to becoming the next big thing? In this regular post, we give you an overview of the companies that have raised money in the past week, as well as those that we think investors should look at.

1. Bounce (India)

Bike- and scooter-rental startup Bounce announced that it has raised US$105 million in a series D funding round led by Facebook co-founder Eduardo Saverin’s B Capital Group and Accel. Existing investors Accel Partners India, Chiratae Ventures, Falcon Edge, Maverick Ventures, Omidyar Network India, Qualcomm Ventures, and Sequoia Capital India also participated in the round. Bounce plans to use the fresh funding to fuel its electric vehicle integration and work toward profitability. More info.

Photo credit: Bounce

2. Digit Insurance (India)

Fairfax group-backed insurtech startup Digital Insurance said it has received approval from India’s Insurance Regulatory and Development Authority to raise US$84 million from A91 Partners, Faering Capital, and TVS Capital. In addition to the institutional investments, the Bengaluru-based company said that 72 of its employees have also chipped in a total of US$4.3 million as part of the round. The combined investment would bring Digit’s total funding raised to US$224 million. More info.

3. Livspace (India)

Ikea-backed home interior and renovation platform Livespace has raised roughly US$60 million in a round likely to close next month at around US$90 million to US$100 million. The investment included participation from Hong Kong’s Tahoe Investment Group, Singapore’s Mercer Investments and EDBI, Switzerland’s Kharis Capital, and Venturi Partners’ managing director Nicholas Cator. The startup looks to use the new funds to bolster its operations in Singapore and widen its presence beyond metro areas in India. More info.

4. Volt (Australia)

Neobank Volt Bank has raised A$70 million (US$48.1 million) in an oversubscribed series C equity funding round from undisclosed investors. The fundraise, which brings the company’s total equity raised to A$100 million (US$68.8 million), brings Volt a step closer to its planned listing on the Australian Stock Exchange late this year. More info.

5. Zoomcar (India)

Self-drive mobility startup Zoomcar has raised US$30 million as part of its ongoing US$100 million series D round led by existing and new global investors such as Sony Innovation Fund. Zoomcar said it plans to use the new funds to invest in growth, technology, and data science, focusing on improving its IoT layout in addition to its shared subscription service. More info.

Zoomcar CEO Greg Moran / Photo credit: Zoomcar

6. Shopline (Hong Kong)

Shopline, a software startup for online sellers, has raised US$20 million from high profile investors. JOYY Inc., the Nasdaq-listed Chinese livestreaming giant with a Singapore-based international offshoot called Bigo, joined the round. Also involved is its strategic partner, a venture capital firm called Engage Capital. The company plans on expanding to Southeast Asia and set up regional headquarters in Singapore this year. More info.

7. Park+ (India)

Park+ is a smart parking solution provider founded by former Tokopedia vice president for business Amit Lakhotia. It has raised US$11 million in a round co-led by Sequoia India and Matrix Partners India. A number of angel investors also participated in the round, including MakeMyTrip’s Deep Kalra and Rajesh Magow, BookMyShow’s Ashish Hemrajani, Cred’s Kunal Shah, and Snapdeal’s Kunal Bahl and Rohit Bansal. More info.

8. Kristal.Ai (Singapore)

Digital wealth management platform Kristal.AI has secured US$6 million in a series A round led by India’s Chiratae Ventures and other influential names such as the Desai Family Office. The round, which brings the startup’s total raised capital to US$11 million, also included participation from high-net-worth individuals who are well-known in the financial industry. It plans on using the new fund to bolster its back-end technology, craft more curated strategies, and expand further into the Asia-Pacific and Middle East markets. More info.

9. Astroscale (Japan)

Astroscale is a startup that develops technology for removing space debris. The company announced it has been awarded a grant of up to US$4.5 million by the Tokyo Metropolitan Government’s Innovation Tokyo Project. It will use the funds over the next three years to commercialize its active debris removal services and develop global sales channels with satellite operators, national agencies, and insurance players. More info.

10. Tribe Theory (Singapore)

Entrepreneur-focused hostel chain Tribe Theory announced that it has secured US$3.5 million in strategic investment from American venture capitalist Tim Draper. As part of the deal, Tribe Theory will rebrand to Draper Startup House to serve as the international business of the US-based firm. Both the US and international operations will focus on expanding hostel locations globally to support and enable 1 million entrepreneurs by 2030. More info.

11. Epost (Malaysia)

12. Muuve (Cambodia)

13. Gredu (Indonesia)

14. Pand.ai (Singapore)

15. Joosk (Myanmar)

16. TurtleTree Labs (Singapore)

17. RedDoorz (Singapore)

18. AWAK Technologies (Singapore)

19. Tinvio (Singapore)

20. Flash Coffee (Indonesia)