SE Asia Dealbook: Protenga, Dropee close funding rounds

Malaysia-based B2B e-commerce platform Dropee has closed $1.3 million in its seed round extension while Singapore-headquartered Protenga has secured $1.6 million from Roslin Technologies and SEEDS Capital.

Protenga closes $1.6m in seed funding round 

Singapore-based insect farming startup Protenga has closed $1.6 million in a seed funding round from UK agritech company Roslin Technologies and SEEDS Capital, the investment arm of Enterprise Singapore, the company said in a statement.

Protenga, which also operates in Malaysia, is now ramping up production of its insect-based products.

It is looking to take its decentralised smart insect farm model, which transforms agricultural and food waste into valuable products, to waste owners around Asia.

The investment would open up an opportunity in circular food system innovations that will provide healthy and sustainable insect protein for the growing aquaculture and pet food markets.

The firm is also currently hiring for biology, engineering, operations and R&D roles.

Dropee closes $1.3m in extended seed funding

Malaysia-based B2B e-commerce platform Dropee has closed $1.3 million in an extended seed funding round from a combination of new and existing investors, according to Digital News Asia.

The investors include Ondine Capital, US-based accelerator Y Combinator, Vynn Capital, Brama One Ventures, John Devor (COO of Touchpoint Games), Jason Tsai (GooglePay), and several angel investors.

The firm secured $350,000 in seed funding in January last year.

The proceeds will be allocated to support the firm’s wholesale businesses and shifting its trading and procurement operations online. The firm also aims to expand into Singapore by the end of the year.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.