Asian Startups raised capital in order to expand and move into more successful. Here is this week’s Top 10 Asian Startups Funding Roundup.
The Top 10 Asian Startups Funding Roundup of This Week
Table of Contents
Rapido
Rapido, a bike taxi service, has revealed that it has raised $120 million in a new investment round led by WestBridge Capital, propelling it into the unicorn club in India.
The money represents a component of Rapido’s Series E round, according to media sources that reference regulatory documents. According to The Economic Times, Rapido anticipates raising an additional $20 million from international investors.
Faye
The travel startup Faye revealed that it had secured $31 million in Series B fundraising, increasing its total funding to $49 million. Leading the round was Portage, with participation from Munich Re Ventures, F2 Venture Capital, and Viola Ventures, in addition to current investors.
Since releasing its app for use by Americans in 2022, Faye has kept adding features to its package, which now includes travel insurance that offers complete coverage, round-the-clock support, and companionship for any unanticipated events while travelling; real-time trip monitoring and alerts; and quick fintech solutions to facilitate payments, reimbursements, and savings for travel.
Intelmatix
The $20 million Series A funding round headed by Shorooq Partners, which included participation from Sultan Holding Group, Olayan Financing Company, Saudi Venture Capital Company (SVC), STV, Zain Ventures, and Vision Growth Fund, was closed, according to today’s announcement from AI and deep tech startup Intelmatix.
Scientists from the Massachusetts Institute of Technology (MIT) developed Intelmatix with the goal of closing the region’s AI and human capital divide with its flagship product, the Enterprise Decision Intelligence Platform (or “EDIX”).
Simple Energy
In its Series A funding round, high-net-worth individuals (HNIs) from family offices, such as the Desai family office—promoter group of Apar Industries—and the offices of Dr. A. Velumani, Haran, and Vasavi, among others, contributed $20 million to the electric vehicle and clean energy startup Simple Energy.
According to a press release from the company, the money will be utilised to increase production of Simple Energy’s two main products, Simple One and Simple Dot One. The money will also help the business launch new products, increase its footprint throughout India, and penetrate new markets.
Revcomm
RevComm Inc., a leading B2B SaaS startup that develops AI-driven communication solutions “MiiTel”, completed a $10 million Pre-Series B investment round, raising its total capital to $32 million.
New investors Salesforce Ventures and tb Innovations joined Sony Innovation Fund by IGV, WiL, and ALL STAR SAAS FUND in this round. UPSIDER Capital’s UPSIDER BLUE DREAM Fund loaned and Money Forward Kessai provided asset finance.
Holisto
The travel company Trivago has contributed $10 million to Holisto, an Israeli startup that has created a dynamic hotel booking engine and a technical platform specialising in pricing aggregation.
Up to this most recent investment round, the company had raised more than $20 million. Holisto had intended to use a SPAC to go public on the Nasdaq in 2022, but the market circumstances forced the company to scrap the merger.
Meragi
Accel, a venture capital firm, led the $9.1 million fundraising round for wedding services business Meragi.
Existing investors including Venture Highway and Peak XV Partners also participated in the round. Using money from its initial fund, Venture Highway, an early-stage fund that Silicon Valley-based venture capital firm General Catalyst acquired in June of this year, made an investment in the business.
Monto
Monto, an AI connector for any ERP from Tel Aviv, Israel, raised $9m in preliminary funding.
Firsthand Alliance, Verissimo Ventures, F2 Venture Capital, and Room40 Ventures were among the investors in the round, which was led by Scale Venture Partners. Fintech angels from top positions at Intuit, Plaid, Salesforce, and other companies, as well as serial entrepreneur Ariel Maislos, took part in the discussion.
Cartona
Cartona, an Egypt-based B2B e-commerce platform, raised $8.1 million in a Series A extension from Algebra Ventures, Silicon Badia, and the SANAD Fund for MSME. The funding round includes $5.6 million in equity and $2.5 million in debt from Camels Ventures and GlobalCorp.
Cartona, founded in 2019 by Mahmoud Abdelfattah, Mahmoud Talaat, and Rafik Zaher, connects small retailers, FMCG makers, wholesalers, and distributors to digitise Egypt’s conventional trading industry. The financing will help Cartona expand into new MENA countries, increase market share, and explore B2B2C options.
GalaxEye Space
Led by Mela Ventures and Speciale Invest, spacetech startup GalaxEye Space has received $6.5 million in a fresh funding round.
ideaForge also participated in the round, and Rainmatter, Navam Capital, Faad Capital, and Anicut Capital made further investments.
Name the Top 10 Asian Startups Funding Roundup in this week ?
Rapido, Faye, Intelmix, Simple Energy, Revcomm, Holisto, Meragi, Monto, Cartona, GalaxEye Space are the Top 10 Asian Startups Funding Roundup in This Week.
