Funding Wrap of The Week | Asian Startups Funding Roundup | March 3 – March 8

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

Arcapita 

Arcapita Capital Company, a subsidiary of Arcapita Group Holdings Limited announced the closing of KSA Logistics Fund III for SAR 1.8 billion ($500 million), with participation from a leading sovereign wealth fund from the GCC region and other major institutional investors.

Arcapita is a premier alternative asset manager with a total transaction value over $30 billion across more than 100 investments. It has offices in Bahrain, US, UK, Saudi Arabia and Singapore giving us a unique vantage point to understand tomorrow’s evolving investment landscape.

Salla 

Investcorp, a leading global alternative investment firm announced it has led a $130 million pre-IPO investment round in Salla, a leading SaaS E-Commerce enablement platform in Saudi Arabia. The investment was made alongside Sanabil Investment, a wholly owned company by Saudi Arabia’s Public Investment Fund. STV, a regional venture capital investor and an existing shareholder of Salla, also participated in the transaction.

Founded by Nawaf Hariri and Salman Butt in 2016, Salla now has over 160 developers focused on technology and product development. It offers merchants a fully-digitalized and automated solution, allowing them to build their e-commerce website, start selling their products online within a few hours, accept online payments, and ship their products to the end user.

Sweet Security

Sweet Security’s Cloud Runtime Security Suite delivers first-to-market capabilities for defending cloud workloads has raised $33 Million in Series A Funding round led by Evolution Equity Partners, joined by Munich Re Ventures and Glilot Capital Partners.

Founded by IDF’s former CISO and an elite group with prodigious expertise in offensive and defensive cloud security, Sweet Secuirty’s approach elevates security team’s ability to address critical cloud risks, as they unfold. This, with maximum precision and minimal business disruption.

wagely 

Indonesia-based wagely, Asia’s leading financial wellness platform, has secured US$ 23 million in new funding amidst the current funding drought as the company surpasses more than one million salary disbursements since its inception.

Founded in 2020, wagely is a responsible financial wellness platform that gives employees visibility into their daily earnings, instant access to earned wages, and the power to plan ahead – proven to decrease employee turnover, enhance retention, and increase business savings. It’s mission is to help employees regain control over their income and finances. Get started with wagely today to reduce turnover, increase savings and build employee financial health.

Rukita 

Rukita, a proptech company that empowers our customers by providing a hassle-free end-to-end housing solution has raised $15 Million Series B1 Funding. Rukita’s existing investors including Peak XV’s Surge, Golden Gate Ventures, Shunwei Capital, OCBC Ventures and Real Estate Veteran David Tsang invested in the funding round.

Launched in 2019 by Sabrina Soewatdy and Sarah Soewatdy, Rukita provides a holistic ecosystem for landlords, tenants, and buyers. It assist landlords and buyers in transforming their assets into high-yield rental property and elevate the living experience for tenants through end-to-end platform that makes their life hassle-free.

Utila 

Israel-based Utila, an enterprise-grade crypto operations platform announced $11.5M in seed funding from NFX, Wing VC, Framework Ventures, and other leading web3 and fintech VC funds and prolific angel investors including Balaji Srinivasan, Charlie Songhurst and Surojit Chatterjee.

Founded in 2022 by Bentzi Rabi and Sam Eiderman, Utila is an enterprise-grade crypto operations platform enabling organizations of all sizes to manage their digital assets securely. It simplify digital asset management and day-to-day crypto operations for institutions without compromising security or usability.

Mazadak

Mazadak, a pioneering technology platform that redefines the auction experience, seamlessly connecting buyers and sellers in Saudi Arabia has secured SAR 37.5 million (US$10 Mn) funding in round led by Revive Lab and a group of family offices.

Founded in 2021, Mazadak simplify the auction process, eliminating uncertainty and hidden fees. With a commitment to transparency and trust, Mazadak provide inspection reports and high-quality images curated by our team. It’s advanced mobile app offers a secure and reliable e-commerce marketplace, spanning various product categories. Mazadak Application is designed to provide reliable e-commerce marketplace that is transparent, safe and reliable for business and individuals.

Buildnow 

BuildNow, MENAP’s first “Build Now Pay Later” solution has secured $9.4 Million Seed Funding round. The round was a mix of equity ($6.5 million) and debt ($2.9 million) and was co-led by Raed Ventures and Khwarizmi Ventures. The round also saw participation by international VC’s and key local angels, including Abdulla Elyas (co-founder of Careem).

Founded in 2022 by Hisham Al Saleh, Rahat Dewan, and Abdulla Sheikh, Using its credit management platform and extensive supply chain network, Buildnow digitally captures data points such as financials, legal standing and market reputation of the buyer to better assess credit risk. This enables Buildnow to supply materials on credit terms tailored for the buyer while paying cash upfront to the SME suppliers.

Fijoya 

Fijoya, a health and wellness benefits platform has secured $8.3 Million in Seed Funding round led by Team8’s Venture-Creation fund. The funds will be used to introduce an artificial intelligence (AI)-platform that will enhance employer-sponsored health benefits. With this additional investment, Fijoya will be able to develop a special solution that makes it easier for companies to provide their employees customized, flexible health benefits.

Co-founded by serial entrepreneurs Baruch Levy and Sagi Polani in 2023, Fijoya is a health and wellness benefits platform that consolidates thousands of point solution services and products into a single, pay-per-use contract. Employers choose a monthly stipend and we handle the end-to-end administration from selection to payment (and since you only pay for what is used, unspent funds return to your budget).

In various financing rounds, these startups raised funding from venture capitalists and angel investors and secured place in the Top 10 Asian Startups Funding Roundup of this Week.

BRKZ

B2B construction tech startup BRKZ, has raised $8 million Series A investment to empower contractors to reach their full potential. The funding round was co-led by 9900 and BECO Capital, with participation from Aramco’s Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment, and MISY Ventures. With this Series A funding round, BRKZ has now raised $13.55 million in total.

Founded by Ibrahim Manna in 2022, With a variety of delivery and payment choices, BRKZ provides access to the most competitive pricing from a large pool of suppliers and materials. Most importantly, a simple and quick way to get Quotations using the Website or WhatsApp. Suppliers work with startup in order to have access to a large consumer base.

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