Asean Dealbook: ESP Capital backs Vietnam’s MindX; Jakarta’s TouchTen nabs funding

In recent deals in Southeast Asia, Vietnam-based edtech startup MindX has raised fresh funding from ESP Capital, while Jakarta-based mobile games developer TouchTen has raised undisclosed funding from Prasetia Dwidharma.

Vietnam’s edtech startup MindX raises fresh funding from ESP Capital

Vietnam’s edtech startup MindX has raised $500,000 in its first funding round led by homegrown venture capital firm ESP Capital and a number of other individual investors, according to an announcement.

Founded in 2015, MindX, formerly TechKids, is a school chain for imparting new technology skills such as programming, robotics, design, 3D drawing, etc. It also has a coworking space business.

The proceeds will be used to open new centres in Ho Chi Minh City and also to upgrade the current syllabus of designing, 3D drawing,  and VR/AR.

ESP Capital is focused on investing in seed-stage startups in Vietnam and Southeast Asia. Since its inception in early 2017, ESP Capital has invested in 15 companies including Luxstay.net, Ecomobi.com, Wefit.vn, Uiza.io, etc.

In recent education sector deals in the region, Vietnamese education startup Everest Education banked $4 million in a Series B round led by Hong Kong-based private equity firm Hendale Capital.

And, Hanoi-based edtech startup Edmicro raised an undisclosed amount in a pre-Series A funding round led by Insignia Ventures Partners.

Games developer TouchTen raises fresh funding from Prasetia Dwidharma

Jakarta-based mobile games developer TouchTen announced on Monday that it has raised undisclosed fresh funding from an investment firm Prasetia Dwidharma, according to an e27 report.

The round was also backed by Sheila Tiwan, CEO of Carsurin, and Indra Leonardi, the CEO of Kingfotoroup. Existing investor CUEBIC, a Japanese digital marketing firm, also participated in the round.

The fresh funding will be used to develop content to boost the number of female gamers in Indonesia.  TouchTen claims that its revenue rose 238 per cent, while its user base grew 93 per cent in the past 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.