Asia Digest: Cocoon Capital backs Qashier; Animoca Brands buys GAMEE

Marina Bay, Singapore. Photo: Victor He/Unsplash

Singapore’s early-stage venture capital firm Cocoon Capital has co-led a S$1.2 million ($860,000) seed round in Qashier while Animoca Brands has acquired social casual gaming platform GAMEE for €4 million ($4.5 million) in shares.

Singapore-based Cocoon Capital co-leads seed round in Qashier

Singapore’s early-stage venture capital firm Cocoon Capital has co-led a S$1.2-million ($860,000) seed round in point-of-sale terminal provider Qashier, according to an announcement.

Hardware Club, a venture capital firm based in San Francisco, also joined the round.

Founded by serial entrepreneurs Christopher Choo and Frank Zhao Liang, Qashier smart terminal supports credit cards, PayNow and the most popular digital wallets like PayLah! and WeChat Pay.

The company said that it will use the funds to expand further into Southeast Asia, grow its team, and invest more in product development with a strong focus on building an omnichannel commerce platform to power SMEs.

Animoca Brands acquires GAMEE

Animoca Brands has acquired social casual gaming platform GAMEE for €4 million ($4.5 million) in shares plus earn-out payments of up to €1 million ($1.1 million) in cash or shares, according to an announcement.

Founded in 2015, GAMEE provides over 80 proprietary games via its web site and mobile apps.

The company claims that it has over 13 million registered users and has recorded more than 4 billion gameplay sessions to date.

At acquisition, GAMEE had a cash balance equal to €700,000 (approx. A$1.14 million) and no debt.

Animoca Brands plans to leverage the acquisition of GAMEE to launch browser-based games as well as games on various social media platforms.

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.