Rising startups on Tech in Asia: fraud detection, logistics in Vietnam, mobility OS

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. MX Player (India)

Chinese internet giant Tencent has led a US$110 million injection into Indian video-streaming service provider MX Player. The new round marks MX Player’s first external fundraise after getting acquired by digital products company Times Internet, which also participated in the round. With the fresh funds, the company looks to strengthen its portfolio through acquisition and production of original content, expand further in the entertainment genre, and make new hires. More info.

2. Advance AI (Singapore)

This Singapore-based company serves localized fraud detection and.facial recognition solutions to clients in China, Indonesia, the Philippines, Vietnam, and India. Advance AI made headlines in mid-September 2019 when it raised US$80 million in series C funding. Pavilion Capital, a US and Asia-focused private equity fund of the Singapore government’s Temasek Holdings, and Gaorong Capital (formerly known as Banyan Capital) led the round. More info.

3. Scommerce (Vietnam)

Vietnam’s e-logistics services provider Scommerce, the parent company of delivery startups GHN and AhaMove, has closed its latest and largest funding round led by Singapore’s state-owned investment company, Temasek. The funding amount was not disclosed, but as reported by DealStreetAsia, it could be worth up to US$100 million, making it potentially one of the largest deals in the country this year. Founded in 2012, Scommerce is one of the leading e-logistics service providers in Vietnam, offering last-mile express and instant delivery, as well as business-to-business trucking and fulfillment services under the brands GHN and AhaMove. The new funding will be used toward expanding GHN and AhaMove’s nationwide coverage and capacity, as well as investments in tech enhancement and automation. More info.

4. Livspace (India)

Home interior and renovation platform Livspace announced it has launched operations in Singapore, with a plan to invest US$30 million to grow the business in the city-state.Founded in 2015, Livspace operates a three-sided marketplace and a design automation platform connecting homeowners, certified designers, and vendors. It uses data science-enabled algorithms to match homeowners with the best designers based on budget, preference, scope of work, and timeline. Singapore marks the first step in the company’s APAC growth strategy. More info.

5. Code42 (Korea)

Korean mobility startup Code42 has secured US$25 million in pre-series A funding round led by Kia Motors, which contributed US$12.5 million to the deal. Established just this March, Code42 is an autonomous transportation-as-a-service (TaaS) startup founded by former Naver chief technology officer and Naver Lab CEO Chang-Hyeon Song. It is developing an urban mobility operating system (UMOS) for use in services such as shopping, fast delivery, and transportation. The system is aimed to be integrated into self-driving cars, drones, and automated delivery robots to provide mobility and logistics services. More info.

6. Helpling (Germany)

Helpling, an online marketplace for household services, has secured 20 million euros (about US$22.3 million) in investment from ProSiebenSat.1, a leading European media group. Berlin-based Helpling is an online platform that lets users book vetted and insured cleaners. The Rocket Internet-backed company also helps service providers gain easier access to customers, as well as manage when and where they want to work. It expanded to Singapore back in 2015, acquiring local business Spickify in the process. More info.

7. Mobikon (Singapore)

Mobikon, a Singapore-based customer engagement startup focused on restaurants, has secured US$12.5 million in its series B round led by investor and Flipkart co-founder Binny Bansal, who has also joined the startup’s board. The fresh capital will be used to target a formidable market share and establish a strong foothold in Australia and Indonesia, besides investing heavily in the company’s tech stack, including a data science team and integration framework. The company said it is now transforming into a data exchange platform to serve the food and beverage ecosystem, while keeping the restaurant business at its core. More info.

8. Milieu Insight (Singapore)

Singapore-based consumer data and analytics firm Milieu Insight has raised US$2.4 million in a pre-series A round led by MassMutual Ventures Southeast Asia. Established in 2016, Milieu offers businesses a wide range of tools for accessing and analyzing high-value consumer opinion data through its platform. With the new funds, the company aims to expand into four new markets in Southeast Asia: Malaysia, Indonesia, the Philippines, and Vietnam. Aside from its home market of Singapore, the company is also active in Thailand. Milieu also plans to use part of the funding to further develop and enhance its product offering. More info.

9. Paper.id (Indonesia)

Indonesia’s software-as-a-service startup Paper.id has finalized its series A funding, collecting an undisclosed amount from Southeast Asia’s Golden Gate Ventures and Indonesian peer-to-peer lending platform Modalku. The management declined to mention the raised amount but said that the company will use the fresh funds to improve its digital invoicing and bookkeeping system. Paper.id provides software for invoicing, accounting, and inventory for SMEs. The company, established in 2016, also offers a feature called Paper Finance Solution to help entrepreneurs to access loans from banking institutions and P2P lending platforms. More info.

10. Crewdible (Indonesia)

Indonesian micro-warehousing startup Crewdible has secured US$1.5 million in a pre-series A round led by Berlin-headquartered Global Founders Capital. The company plans to use the fresh investment to further build up its presence in big cities across Indonesia, step up its marketing efforts, and improve its system to better support various needs and massive traffic. Through its platform, Crewdible connects ecommerce sellers with warehouse owners for order fulfilment. It turns empty facilities such as houses, offices, and warehouses into micro warehouses. More info.

11. Muso (Australia)

Australia-based live music marketplace Muso has secured US$1.02 million in a seed funding round to accelerate the growth of its operations and enhance its core team over the next 12 months. The investment round was led by early-stage investment group Investible and impact investor Alberts Impact Capital. Music company Unified Music Group and other angel investors also participated in the round. Through its platform, Muso aims to simplify the end-to-end process for venues, personal hirers, and artists. More info.

12. TripGuru (Hong Kong)

Hong Kong-based TripGuru secured an undisclosed amount of funding from early-stage VC Catalyst Ventures. The company seeks to connect travelers via authentic experiences in 61 destinations, with Signature cities Bali, Bangkok and Chiang Mai featuring original and exclusive small group tours. They partner with local guides in each destination, placing them in the digital marketplace they built — empowering local tour guides to become entrepreneurs by operating their tours under TripGuru’s brand name and standards.

Want to catch up on previous lists? You can do so here.