Hi, everyone. Taro here again.
With the year getting into gear, we are seeing plenty of interesting stories pop up everywhere. Some of us are optimistic that 2022 will bring back normality in the second half of the year, and we hope to see some nice developments over the next few months.
We are also excited to launch our Startup Wire Sessions series. We aim to provide opportunities for startups to connect and learn from leading investors across Asia. Our first session will feature Dr. Yoke Sin Chong, managing partner at iGlobe Partners. Dr. Chong has extensive business experience as part of companies such as NCS, IHIS, and Starhub. She has overseen important developments at iGlobe, including successful IPOs and exits from portfolio companies like Aicent, Telenav, Anacle, Twist Bioscience, and Unity.
This will be an amazing chance for startups to gain valuable feedback. If you are interested in being considered for the event’s shortlist, register here.
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The Post Up
Startups Currently Raising Funds
Target: USD 50 million, Series C
Loship is a growing e-commerce startup that guarantees one-hour delivery. It delivers goods such as groceries, medicine, packages as well as ride-hailing services. The company closed its pre-Series C round with USD 12 million in August 2021.
Target: USD 1.2 million, Seed
Protos Labs is a startup in Singapore that combines cybersecurity, AI, and statistical modeling to help insurers accurately quantify policyholders’ cyber risk exposure and reduce their likelihood of a breach.
Country: Hong Kong
Target: USD 3 million, Seed B
PropCap is a secured lending platform for real estate buyers. It provides multinational mortgage products to customers by matching borrowers with lenders across borders.
Target: USD 1.5 million, Seed
Ahlee is a social messaging platform where users can connect with experts from various backgrounds, such as content creation, sports, media, and business.
Target: USD 180,000, Pre-seed
Frankie is a rewards-based mental health and wellness app with AR functionalities. It enhances emotional well being by guiding users through daily tasks.
Nothing But Net
Recent Startup Wins
- ConnectedHealth launched their digital health system designed to provide support for patients with type 2 diabetes mellitus.
- Dutch startup Flexbase announced it will expand to Singapore to broaden its reach in Asia. The startup develops sustainable floating structures using a hybrid polystyrene- concrete design.
- Vietnam-based fintech startup Anfin raised USD 1.2 million in a seed round led by Goodwater Capital and Global Founders Capital.
- Aerodyne Group announced a new strategic partnership with Astralution to introduce its drone and drone-as-a-service offerings into Scandinavia.
Pick & Roll
Interesting Drops From the Week
- Sea Group is being sued by Krafton for copyright infringement. Krafton claims Sea’s game Free Fire has copied elements of its popular mobile game PUBG: Battlegrounds. Sea Group’s share price fell 8% after the news was reported. [via Dot eSports]
- A thought-provoking critique of the latest Web3 buzz from Matthew Rosenfeld, also known as Moxie Marlinspike, recently went viral. It makes valid arguments against the validity of NFTs and the mission of decentralization in crypto. [via Moxie Marlinspike]
- Here is an interesting piece about hyped VC-backed crypto coin performance compared to Ethereum and Bitcoin. [via Fais Khan]
- Meanwhile in China, online grocery delivery platforms appear to be in trouble as reports emerge of cost-cutting to mitigate continual losses.
If you are a startup that is raising funds, or have an interesting story or lead, and want us to feature it in this newsletter, please fill out this form.