Rising startups: textile trading platform in China, unicorn eyewear firm in India

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. Baibu (China)

Digitalized business-to-business textile trading platform [Baibu](has closed its series D round, with investors pouring in US$300 million. It was the largest ever fundraising round in China’s textile industry. The new funds will be used on research and development, logistics upgrades, and collaborations with factories producing unbleached and undyed fabrics. More info.

2. Lenskart (India)

Eyewear company Lenskart has raised over US$275 million from Japanese conglomerate SoftBank. The company manufactures and distributes eyeglasses, sunglasses, and contact lenses to 500 stores across 1,000 cities in India. It also operates an online portal where consumers can virtually try, then purchase products. The new funds will be used to improve the capabilities of its technologies and strengthen its supply chain infrastructure. More info.

3. Ruangguru (Indonesia)

Edtech startup Ruangguru has raised around US$100 million in a round led by private equity firm General Atlantic. Founded in 2014, the startup offers education-based services such as video subscriptions, a private tutor marketplace, and corporate learning. It has entered the Vietnamese market by launching a platform called Kien Guru in October. The report said that the fundraising will likely support this strategy. More info.

4. Licious (India)

Licious, an online meat and seafood ordering startup, has raised US$30 million in a series E funding round led by Vertex Growth Fund. With the funding, Licious plans to extend its presence to more Indian cities while also scaling up in its existing markets. The startup also plans to bolster its omnichannel footprint, make new hires, and launch new products with an emphasis on the ready-to-eat category. More info.

5. Telio (Vietnam)

Telio has raised US$25 million in a series A funding round led by Tiger Global. Founded in 2018, Telio’s app connects retailers to a wide range of brands and distributors from whom they can find, select, and order products. Telio will use the new capital to establish its presence in four more cities in Vietnam, onboard 15,000 more retailers, building a network of delivery warehouses, and expand beyond FMCG. More info.

6. Hungerbox (India)

Foodtech startup HungerBox has raised US$12 million in fresh funding from Paytm. The company provides management solutions to cafeterias and canteens, helping them track orders and monitor feedback while enabling individual customers to view menus, order and pay for food, and track their orders. The startup will use the fresh funds to fuel its operations in 10 new Indian cities and expand into Southeast Asia. More info.

7. Seekify (Singapore)

Seekify, a customer experience automation platform, has raised US$1.5 million in a seed round led by Sequoia Capital’s startup program, Surge. The startup’s platform helps clients automate workflows and improve their customer experience by providing provide AI-powered, data-driven insights. With the new funds, the software-as-a-service startup plans to invest in building technology and make more hires across different functions. More info.

8. Sleek (Singapore)

Online corporate services provider Sleek announced it has raised US$5 million in an extended seed round to accelerate its development in Hong Kong. Formed in 2017, Sleek incorporates companies in both Singapore and Hong Kong and helps them with governance, accounting, and tax matters through its technology. In addition to scaling its business in Hong Kong, it will use the new funds to expand its tech team, develop new features, and increase its operational capability. More info.

9. Terra (Singapore)

Terra, a price-stable cryptocurrency issuer and the blockchain firm behind mobile payment app Chai, announced plans to expand further across Southeast Asia, with Singapore as its regional hub. In August, it received an undisclosed amount of funding from Hong Kong blockchain investor HashKey Capital to broaden the adoption of blockchain-based payment solutions in Asia’s ecommerce and retail space. Terra’s other existing backers include LuneX Ventures and Kakao Ventures. More info.

10. Glee Trees (Singapore)

Glee Trees has secured funding from Silicon Valley-based early-stage venture fund 500 Startups. The startup focuses on developing Asian-language cognitive automation solutions that are used in industries such as banking, insurance, shipping, logistics, government, manufacturing, and services. The funds will be used to further improve its proprietary solutions and extend its reach, primarily in China, and expand into Vietnam and Indonesia. More info.

11. ChatBook (Japan)

ChatBook has raised a $1 million funding round led by Monex Ventures. The startup helps organizations accelerate lead generation and marketing analysis with smarter, AI-enabled Facebook Messenger chatbots. The new investment round will enable ChatBook to further capitalize on its position as the market leader in social media automation.

12. Playtoome (India)

SOSV, a leading early-stage venture capital firm, has invested an undisclosed amount in Playtoome, a company that streams tech-enabled live performances and provides entertainers with a dedicated consumer engagement platform. This marks SOSV’s first investment in India.

Startup accelerator ScaleUp Malaysia has unveiled the 20 companies that make up its inaugural cohort. Launched in October 2019, ScaleUp Malaysia provides training programs for participants, covering finance, human resources, marketing and sales, technology, product, and strategy.

At the end of the program in Q1 2020, the accelerator said it will select 10 of these 20 startups to receive an investment of almost US$50,000. It will then work with those startups to fine-tune their pitch and meet strategic investors and partners. More info.

13. Huddle

14. ATX

15. Auto Craver

16. Batik Boutique

17. Camp5

18. Everpeaks

19. FutureLab

20. Carpit

21. GoLog

22. Iimmpact

23. Kwikcar

24. MyAone

25. GetBiiB

26. Truck Trader

27. SecondCRM

28. Tripcarte

29. Wowintro

30. Yellow Porter

31. Sentuh

32. Whimsigirl