Hi, everyone. Taro and Sara here.
Welcome to the Startup Wire newsletter. It’s something new from us here at KrASIA. What started off as a way to give media tips to startups has since grown into a way for firms to connect with investors across the Asia Pacific. We aim to share current fundraising news (The Post Up), noteworthy wins (Nothing But Net), and general points of interest (Pick & Roll) in a quick read that can accompany your morning coffee and bagel, kaya toast, nasi lemak, or congee.
We will add more features and events to tie the ecosystem together and make sure we are helping startups of all scales get the right help for their growth. We are excited to start this and, as we grow as well, we hope to share news from all over Asia and Australasia to bridge cross-border gaps.
If you are a startup and want us to feature your fundraising round in this newsletter, please fill out this form.
The Post Up
Startups Currently Raising Funds
Target: USD 900,000, seed round
Ottodot is building a gamified metaverse for learning called Ottoworld. Aimed at children 7 to 12 years old, with games in mathematics, science, English, and Chinese, 70,000 users have joined Ottoworld in just 3.5 months after launching the alpha version of the game.
Target: USD 20 million, Series A
Recently mentioned by Prime Minister Jacinda Ardern, New Zealand-based Cogo’s app and API allows users to monitor the effects of their spending on their carbon footprint. The company plans to expand to Asian, North American, and European markets after closing this round.
Established in 2014, Buyandship is a Hong Kong-based company providing global shipping services for customers who wish to shop across Asia, the US, and Europe with ease and comfort. They have established a network of self-operating and dedicated warehouses for users to ensure fast and efficient delivery services. Its last pre-Series B round closed with USD 2.2 million led by Infinity Venture Partners.
Please contact [email protected] if you would like to know more about these startups.
Nothing But Net
Recent Startup Wins
Ignatica was named the winner of the Alibaba Cloud x KrASIA Global Startup Accelerator Hong Kong Demo Day. Sprout and Cloudbreakr were named as runners-up.
Unabiz was involved with the setup of the COVID-19 Community Care Facilities (CCF) and Treatment Facilities at the Singapore F1 building, providing wireless call bells for patients to hail for assistance.
TurtleTree Labs announced it had raised USD 30 million on the heels of opening an R&D facility in Sacramento, California.
Pick & Roll
Interesting Drops From the Week
Sequoia Capital recently announced the Sequoia Fund, which sees it ditch the typical ten-year cycle of a fund and transition to an open-ended model where it will allocate capital to sub-funds in perpetuity. It’s a very big change and may become more common. [Sequoia Capital via Medium]
Four startups in China share what they need the most from investors. The relationship needs between startups and investors are universal, it seems.
Incredible scenes in China after Edward Gaming won the League of Legends World Championship 2021, with fans taking to the streets to celebrate en masse. This is what the future of e-sports looks like. [@niiicolo on Twitter]
Speaking of gaming—after launching a game studio in 2020, NetEase’s presence in Japan continues to grow with its acquisition of Grasshopper Manufacture. After poaching talent from various other studios, the landscape of the industry is set to see some interesting competition over the next few months. [via Polygon]