Rising startups: ecommerce ecosystem gets 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. aCommerce (Thailand)

Startup aCommerce today announced that it has raised US$15 million in funding from Indies Capital Partners. aCommerce provides end-to-end ecommerce technologies and solutions. The new funds will be used to recruit, develop, and retain key talent, as well as better support global enterprise brands, focus on core markets, and achieve group profitability. More info.

2. epiFi (India)

Digital banking startup epiFi has raised US$13.2 million in seed funding, which will be used to further build their technology stack, bring on board a team of people, and promote early marketing and consumer adoption. Founded in 2019 by former Google Pay execs Sujith Narayanan and Sumit Gwalani, epiFi looks to provide neo-banking solutions focused on young millennial workers. The company plans to launch its product, which will include savings account and debit card services, within the next few months. More info.

3. Waresix (Indonesia)

Trucking and warehousing platform Waresix has raised US$11 million in an extended series A round from EV Growth and Jungle Ventures. The startup connects shippers and businesses with available transporters or trucks and warehouse spaces across Indonesia. Waresix is now planning for a series B raise this year. More info.

4. Clobotics (Shanghai)

Clobotics has raised US$10 million in its pre-series B+ round from Tiger Investment. The company uses its fleet of drones to take precise photos for wind turbine blade safety inspections, sparing manual work and increasing efficiency by up to 10x The new funds will be channeled toward research and development as well as the company’s expansion to Singapore. More info.

5. Pando (India)

Logistics management software provider Pando has banked about US$9 million in a series A round led by local VC firm Chiratae Ventures, pushing its total capital raised to roughly US$11.3 million. The startup helps businesses across various industries automate and optimize their freight management, providing them with connections to logistics vendors and aggregators. Pando plans to use the fresh funds to further widen its network offering in India, scale in strategic markets globally, make new hires, and invest further in its technology. More info.

6. StoreHub (Singapore)

StoreHub, which offers an omnichannel operating system for retail and F&B businesses across Southeast Asia, has raised US$8.9 million in a series A+ round. It’s a robust operating system that offers an ecommerce platform, QR code-powered loyalty rewards programs, and a table ordering feature. StoreHub will use the new capital to help fund its “aggressive” growth and expansion plans across Southeast Asia. More info.

7. Akseleran (Indonesia)

Peer-to-peer lending platform Akseleran, which focuses on small and medium-sized enterprises, has officially announced that it closed an US$8.6 million series A funding round late last year. Launched in 2017, Akseleran said it has disbursed more than US$71.4 million worth of loans to over 2,000 SMEs. Akseleran plans to use the new funds to scale up the team, invest in technology, and penetrate the underserved Indonesian market. More info.

8. Istox (Singapore)

Istox, a capital markets platform established and operated by Ichx Tech, has raised US$5 million from South Korean financial leader Hanwha Asset Management. Istox claims to be the first regulated capital markets platform in any major financial center to support one-stop issuance and trading of digitized securities. It leverages advanced smart contracts and distributed ledger technology to streamline the issuance and trading process. More info.

9. Hacktiv8 (Indonesia)

Coding bootcamp Hacktiv8 has raised US$3 million in a pre-series A round led by early-stage VC firm East Ventures. Started in 2016, Hacktiv8 aims to turn beginners into job-ready web developers with knowledge in JavaScript, Node.js, Vue.js, and Facebook’s React framework. Hacktiv8 plans to use the fresh investment to build more schools and set up the first income share agreement (ISA) program in Indonesia, providing an alternative to traditional student loan plans. More info.

10. Klub (Singapore)

Fintech startup Klub today announced that it has raised US$2 million in a pre-seed funding round. Klub utilizes data-driven analytics and community engagement to provide growth capital to brands in sectors like food and beverage, fashion, lifestyle, FMCG, and consumer internet. The startup plans to use the new funds for “building Klub’s investment and data platform, along with building the team and acquiring partners. More info.

11. Lumitics (Singapore)

Foodtech startup Lumitics, previously known as Good For Food, announced that it has raised S$750,000 (or about US$557,000) in a seed funding round. The startup aims to help restaurants and kitchens reduce food waste and improve their bottom lines. Lumitics plans to use the funds to further develop its product, expand its market share in Singapore, and bring its solution to regional markets, according to the statement. More info.

12. Moladin (Indonesia)

Moladin, an ecommerce platform for motorcycles, has secured an undisclosed amount of pre-series A funding in a round led by early-stage investor East Ventures. Moladin provides a marketplace for Indonesian consumers to purchase new motorbikes, and also offers information about different motorcycles, an online directory for servicing workshops, and communities to exchange reviews on spare parts and apparel. The startup plans to use the new capital to scale its existing products, expand to other cities, and build out new features such as a category for new-car sales. More info.

13. Pintek (Indonesia)

Pintek provides lending to students from kindergarten up to postgraduate education, as well as to those in informal education programs specifically vocational courses that aim to prepare people for employment. The firm raised a pre-series A funding round in November 2019. Pintek will utilize the capital to spread the word about their products, connect with more institutions, and improve the firm’s technological capacity in order to deliver a convenient and seamless product. More info.

14. Happy5 (Indonesia)

Happy5 is an internal timeline-based social media platform that allows employees at client-companies to post job-related content, congratulate co-workers on their achievements, or recognize colleagues for their contributions to the company. Since launching around six years ago, the company has raised a total of US$1.2 million in funding across multiple rounds. Happy5 is now looking at overseas markets such as Europe and the US for its next stage of growth. More info.

15. Mortgage Master