SEA Series ABC Funding Weekly Brief (30 May 2022 – 5 Jun 2022)
Sam Lee Chengyi
Fractional CFO who specializes in SME M&A and Series A Fundraising | M&A Advisory | Seed and Series A Fundraising | Exit Planning | Growth Strategy | Performance Dashboarding
Dagangan (www.dagangan.com)
Dagangan, an Indonesia-based e-commerce startup, has closed US$6.6 million in its Pre-Series B round led by Sumitomo Mitsui Banking Corporation (SMBC) subsidiary BTPN Syariah Ventura. It included the participation of existing investor Monk’s Hill Ventures, and Hendra Kwik, CEO of Payfazz, a leading financial services company serving SMEs and unbanked Indonesians. Dagangan is an e-commerce platform that provides same-day and next-day delivery of daily necessities with a focus on rural areas. The funds from this strategic investment will be used by Dagangan to expand into new markets and improve the capabilities of their product and technology development team.
Privyr (www.privyr.com)
Privyr, a Singapore-based startup, has raised $6 million in a Series A funding led by MassMutual Ventures and Vulcan Capital, with participation from Wavemaker Partners, bestselling author Nir Eyal, and former Facebook executive Gwendolyn Regina. Privyr is an app that helps salespeople and small businesses to better engage and convert their leads into clients. Its goal is to make sales interactions more personalised and convenient to create better customer experiences and increase sales conversion rates. The new funding will be used to expand Privyr’s product capabilities, increase market penetration, and scale its team from less than 10 employees to over 40 within a year.
Astro (www.astronauts.id)
Astro, an Indonesia-based quick commerce startup platform, has raised $60 million in a Series B funding led by Accel, Citius, and Tiger Global which includes participation from existing investors like AC Ventures, Global Founders Capital, Lightspeed and Sequoia Capital India. Astro provides 15-minute deliveries for groceries and essentials as well as stock keeping units (SKUs) at competitive prices all day round on the app. The funds raised will be used to expand the team as well as to reach more customers and enrich product capabilities to provide better customer experience.
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Super (www.superapp.id)
Super, an Indonesia-based social commerce platform, has raised $70 million in a Series C funding round led by New Enterprise Associates (NEA) with participation from Insignia Ventures Partners, SoftBank Ventures Asia, DST Global Partners, Amasia, B Capital, TNB Aura, Bain Capital chairman Stephen Pagliuca, Goldhouse and Xendit CEO Moses Lo. Super works with third-party logistics providers to create a hyperlocal logistics platform that delivers consumer goods to thousands of agents, either individuals or local shops, within 24 hours of ordering. The funds will be used for geographical expansion of Super, specifically Kalimantan, Bali, West Nusa Tenggara, East Nusa Tenggara, Maluka and Papua over the next few years.
Source: NEA leads $70 M USD Series C round in Indonesian Social Commerce Platform, Super (prnewswire.com)
PlayV (PlayV)
PlayV, a cryptocurrency social trading platform, has raised $5 million in a Series A funding round with participation from SoftBank Ventures, Company K Partners, and KB Investment, a subsidiary of KB Financial. PlayV allows investors to have their digital assets managed by trading managers, growing the assets through crypto trading strategies handpicked by these top-performing traders. The company plans to use the funds to expand its market base, grow its team, and enhance its technology to further develop a personalized portal for crypto trading strategies.