Former Fave executives make first move in Southeast Asia, investing in ten early-stage startups
First Move, an early-stage venture capital firm founded by former Fave executives Joel Noeh and Audra Pakalnyte, has announced its first ten ventures in the Southeast Asian startup scene. This number includes the initial seven companies that First Move added to its portfolio in 2023. These ventures include:
Collektr, a Malaysian startup operating a collectibles marketplace in Southeast Asia that features live bidding capabilities.
Decube, a Singapore-based outfit that has designed a platform with the aim of making data reliable and discoverable to help businesses improve their decision-making processes.
Evo Commerce, a Singapore-based startup that specializes in building D2C health, beauty, and personal care brands.
Koppiku, a Malaysia-based coffee chain aiming to serve its drinks at affordable prices.
MalaysianPayGap, an initiative that is raising awareness about inequalities related to salary and career opportunities in Malaysia.
SaveDay, a Vietnam-based startup that has developed a tool enabling users to save any content on the internet. Users can subsequently search, summarize, and share what they have saved using the tool.
Scentses + Co, a perfume subscription service provider.
The Giggly Company, a Jakarta-headquartered consumer brand builder. The company is behind Giggly Coco, a coconut water brand.
Tjufoo, an aggregator of D2C brands in Indonesia.
3cat, a secondhand platform in Malaysia that enables users to trade in, repair, a nd purchased used Apple devices.
First Move invests an average of USD 100,000 per startup. It is backed by notable venture capital firms such as 500 Global, Gobi Partners, and Vertex Ventures, as well as a group of consumer technology-focused angel investors.
9 Lives Interactive announces completion of USD 3 million round
9 Lives Interactive, the Singapore-headquartered outfit behind Nyan Heroes, a cat-themed shooter game, has announced the completion of a new funding round, raising USD 3 million.
The round was led by Mechanism Capital, with participation from Sfermion, 3Commas Capital, and Momentum 6. —Tech in Asia
OKX Ventures invests in DLC.Link
DLC.Link, a company aiming to establish a trustless bridge between Bitcoin and Ethereum using discreet log contracts (DLCs), has secured an undisclosed amount of investment from OKS Ventures, the investment arm of Web3 technology company OKX.
Virtus Medical Group secures backing from a slew of strategic investors
Virtus Medical Group, a Hong Kong-based private healthcare services provider, has announced the completion of a new funding round, securing an undisclosed amount of capital from a slew of strategic investors. The round was jointly led by Shanghai Healthcare Capital (SHC), Mitsui & Co, and Shanghai MediTrust Health Technology.
The company said in its announcement that this investment is pivotal in shaping its collaboration with the investors, including Cenova Capital, GIC, and Samena Capital, to improve healthcare quality by leveraging data, technology, and innovation. Additionally, the capital will help fuel its growth strategies, expand its network, and enhance its range of medical services.
Recent deals completed in China:
Direct Drive Technology, a Dongguan-registered robotic modules production company, has secured a nine-figure RMB sum in a pre-Series B funding round jointly led by Shunxi Fund and E-Town Capital, with follow-up investment from Lenovo Capital, and financial advisory support from North Beta Capital. The company will utilize the funds for technology R&D, innovate new products, expand its market reach, and enhance its delivery capabilities. —36Kr
GuoCare, a Zhengzhou-registered psychological research organization, announced the completion of a Series A funding round, raising an eight-figure RMB sum from Yuhehai Technology. The company plans to use the capital to support interdisciplinary research between psychology and artificial intelligence, develop a guidance system for teenagers, apply for licenses, and construct a new facility. —36Kr
VoiceAI Technology, a Shenzhen-based enterprise specializing in audio processing and speech analytics, has banked an undisclosed amount in a round of financing from a domestic state-owned asset platform in Qingdao, supported by follow-up investment from existing shareholders. —36Kr
ChipEasy, a Shanghai-registered provider of processor designer tools, has snagged an eight-figure RMB sum in a Series A funding round, with China Fortune-Tech as the lead investor. —36Kr
Jing Qin Medical Technology, a Suzhou-registered medtech company, has completed an extended angel funding round, backed exclusively by LongRiver Investments. —36Kr
Kezx Biotechnology (CincoBio), a Shanghai-based developer of nucleosides, nucleic acids, and other biological compounds, has received an eight-figure RMB sum of investment following the completion of a Series A funding round jointly led by Caleb Capital and Sealand Innovation. —36Kr
Hengyu Biotech, a provider of testing and validation services for pharmaceutical companies, has banked close to RMB 200 million (USD 27.8 million) in a Series B funding round led by CMB International, with participation from various investors. The company plans to further enhance its international compliance quality system, expand its product lines, and expedite the development of its overseas business. —36Kr
Latest funding deals in India:
Kites Senior Care, a geriatric care startup based in Bengaluru, has secured INR 450 million (USD 5.4 million) as part of its Series A funding round from the family office of Manipal Education and Medical Group (MEMG). The startup is also raising INR 200 million (USD 2.4 million) in debt from other existing investors for the current fundraise. —Inc42
HiLabs, a health data analytics company, has raised USD 39 million in its Series B funding round, jointly led by Eight Roads Ventures and Denali Growth Partners. The round also saw participation from F-Prime Capital. Headquartered in the US, HiLabs also has offices in Pune and Bengaluru, and will use the funds to enhance its technology stack and recruit talent. —VCCircle
TapFin, a startup specializing in “clean mobility” ecosystem solutions, has raised USD 4 million in a seed funding round from Elevar Equity. The raised capital will be used to expand the startup’s market reach, hire talent, improve its product portfolio, and strengthen its capabilities. —VCCircle
Pumpumpum, a preowned car leasing platform, has raised INR 20 million (USD 241,000) in a funding round from Inflection Point Ventures. —VCCircle
LaunchVic’s new grant initiative, UXLink and Kaskade Finance’s latest funding round, and more led yesterday’s headlines:
LaunchVic, the Victorian state government’s startup development agency, has introduced a new grant initiative aimed at bolstering specialized angel investment networks with a keen interest in early-stage startups in Victoria.
UXLink, a SocialFi platform that aims to instill the trust users have in real-world relationships into decentralized applications, raised an undisclosed amount in an investment round led by OKX Ventures.
Kaskade Finance, a gamified incentivization layer protocol, announced the completion of its pre-seed funding round, raising an undisclosed amount of capital, with participation from over 40 investors including Marshland, NxGen.xyz, Artemis Capital, Andromeda Capital, Hercules Ventures, 369 Capital, Crypto Oasis Ventures, and a slew of influencers, among others.
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