Rising startups: edtech and fintech firms continue to raise money

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. Unacademy (India)

Unacademy, an edtech company, announced that it has secured US$110 million in a series E funding round led by General Atlantic, Facebook, and Sequoia India. Existing investors Nexus Venture Partners, Steadview Capital, and Blume Ventures, along with Flipkart CEO Kalyan Krishnamurthy and Udaan co-founder Sujeet Kumar, also participated in the round. The company plans to use the new funds to launch more exam categories, acquire top educators, and improve its content and product. More info.

2. Rupeek (India)

Rupeek, a gold-backed online lending platform, said that it has raised US$60 million in two separate funding rounds from GGV Capital, Bertelsmann India Investments, Binny Bansal, KB Investments, Tanglin Venture Partners, Sequoia India, and Accel Partners. The company plans to use the fresh funds to invest in technology, customer acquisition and work towards improving the accessibility of credit in the country. More info.

3. Laiye (China)

Laiye, an AI-powered robotic process automation (RPA) solutions provider, said it has raised US$42 million in a series C funding round co-led by Lightspeed Venture Partners and Lightspeed China Partners. Cathay Innovation and Wu Capital also participated in the round. The funds will allow Laiye to recruit the best RPA and AI talent across the globe to strengthen its business and technology. More info.

4. Snapask (Hong Kong)

Snapask, an educational technology startup, has announced the close of a US$35 million funding round. The lead investors include Asia Partners, the Singapore-based fund led by Nick Nash and Oliver Rippel, as well as South Korea’s Intervest. The funds will be used to grow its business in Southeast Asia and expand into new markets such as Vietnam. The company is also opening a regional headquarters in Singapore. More info.

5. Mbiz (Indonesia)

Mbiz, an Indonesian business-to-business e-procurement platform, announced in a media briefing that it is targeting to raise US$20 million in a series B round. The company expects to finalize the round in the second quarter of this year, Ryn Hermawan, co-founder and chief operating officer at Mbiz, told DailySocial. The company will use the new funds to invest further in its platform and team. More info.

6. Eureka AI (Indonesia)

Eureka AI, an AI enterprise software company, announced that it has raised US$20 million in a series B funding round co-led by Apis Partners, Gobi Partners, the Riyad Taqnia Fund, and MEC Ventures. SG Innovate, GDP Ventures, Pacific Bridge, and Cianna Capital also participated in the round. They join existing investors in the company that include SoftBank, PPF Home Credit, and East Ventures. The company plans to use the new funds to support its international expansion plans in Europe and the US, as well as further develop its product portfolio. More info.

7. Onsitego (India)

After-sales services startup Onsitego has raised US$19 million in a series B round led by the Avendus-backed Zodius Growth Fund. Accel Partners, an existing investor in Onsitego, also participated in the funding round. It plans to use the new funds to consolidate its market position and expand into annual maintenance contracts, home protection, and on-demand services. More info.

8. Socar (Malaysia)

Car-sharing startup Socar Mobility Malaysia has raised US$18 million in a series A funding round from new investors Eugene Private Equity and KH Energy. The new capital pushes Socar’s total funding to US$40 million at a valuation of US$118 million. Socar plans to use the new funds to enhance its technology, bolster its growth in Malaysia, and expand into new countries by Q4 2020. More info.

9. CoolBitX (Taiwan)

Blockchain security company CoolBitX announced that it has raised US$16.8 million in a series B funding round led by existing investor SBI Holdings. The National Development Fund of Taiwan, Korean crypto exchange BitSonic, and Japanese financial group Monex also participated in the round. The company plans to use the new funds to expand the Sygna product line’s presence beyond Asia Pacific and continue to develop its flagship product, CoolWallet S. More info.

10. Dunzo (India)

Dunzo, a hyperlocal delivery startup, has secured US$11 million from local venture debt fund Alteria Capital. It plans to use the fresh capital to work toward becoming a profitable local ecommerce company and scale its operations in already profitable markets. More info.

11. UangTeman (Indonesia)

Online lender UangTeman said it has closed the second part of its series B round. ACA Investments, an affiliate of Japanese financial institution Daiwa Securities Group Inc, is anchoring the round with participation from Pegasus Tech Ventures and Japan’s Spiral Ventures. The entire series B funding amounts to US$10 million. The company previously closed its series B1 tranche of US$4.2 million in August 2019, which was led by Draper Associates and Japan’s KDDI Open Innovation Fund. More info.

12. Tonik (Singapore)

Tonik, a Southeast Asia-focused digital bank, announced that it has raised US$6 million in an institutional funding round led by VC investors Insignia Ventures Partners and Credence Partners, with participation from regional family offices and angel investors. The company plans to use the new funds to launch its digital bank in the Philippines and start commercial operations in the third quarter of 2020. More info.

13. Clover (India)

Greenhouse agritech startup Clover announced that it has raised more than US$5.5 million in a series A funding round from VC firm Omnivore and existing investors Accel and Mayfield. Accel and Mayfield previously invested in Clover’s seed round in December 2018 when the startup was still in stealth mode. This additional funding will help to accelerate the growth of its managed farm network, support entry into new cities, and diversify its B2B and B2C fresh produce offerings. More info.

14. WhatsHalal (Singapore)

WhatsHalal, a foodtech startup focused on the halal industry, has raised an undisclosed amount of seed funding at a valuation of S$4.5 million (US$3.2 million). The capital was raised through FundedHere, a crowdfunding platform licensed by the Monetary Authority of Singapore, according to a statement. WhatsHalal plans to use the new funds to further develop its proprietary tech platform, make new hires, and push forward with its regional expansion plans. More info.

15. MaxWholesale (India)

16. Waves (Vietnam)

17. Credify (Singapore)

18. ShopRunBack (Cambodia)

19. MandiExpress (Pakistan)

20. TopDev (Vietnam)

21. LetsShave (India)

22. Foodmandu (Nepal)

23. Hoolah (Singapore)

24. B Live (India)

25. Binance (Singapore)

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26. Healium Digital Health (India)

27. Qzense (India)

28. Real Analytics (India)

29. Recreate (India)

30. Sensight (India)

31. UnboxRobotics (India)

32. Open (Hong Kong)

33. PixCap (Hong Kong)

34. RC Labs (Hong Kong)

35. Spidfier (Hong Kong)

36. Energy Lite (Singapore)

37. Fairphonic (Singapore)

38. Lytehouse (Singapore)

39. Milkyway (Singapore)

40. Navarasa (Singapore)

41. Plutwo (Singapore)

42. Poseidon AI (Singapore)

43. Quantship (Singapore)

44. TeOra (Singapore)