Entobel, a company that produces animal feed, pet food, and fertilisers from black soldier fly larvae, received $15 million from Mekong Capital and Dragon Capital this week as part of its Series B funding round.
The latest tranche comes less than six months after the company received $15 million from the two investors as part of the same round. Earlier this year, Entobel was said to be seeking to raise $30 million to finance the construction of a new production facility in Vietnam.
Founded in 2013, Entobel commercially rears the black soldier fly to produce insect protein as a feed ingredient and operates one of the world’s largest insect production sites in Vietnam’s Dong Nai province.
Top shareholders in Entobel
The capital will be used to accelerate hiring for its technology, growth, and product teams and invest further in its technology-enabled platform, the company said.
NOVI Health was launched in 2019 by three doctors — Joanne Tay, Sue-Anne Toh, and Kyla Tan — to promote a holistic approach to treating chronic conditions beyond prescribing medications.
Other updates from DATA VANTAGE
Healthtech startup Doctor Anywhere has received $20.8 million in new funding from several Singapore-based health professionals. Its share price is up 1.3 times from its previous financing – a $65.7 million round led by Asia Partners – in 2021.
Doctor Anywhere recently reported a 186% surge in revenue for the financial year ended Dec 31, 2021, while its net loss tripled during the period.
Oraan, a Pakistan-based fintech startup focused on providing alternative solutions to the underserved, received $1.6 million from Wavemaker Partners, Blauwpark Partners, Invest2Innovate, Haitou Global and Plug & Play Ventures. Last year, the women-led startup had raised a $3 million seed round from Zayn Capital and Wavemaker Partners.
Mogul, a Singapore-based proptech firm, received $4 million from Nech Capital and other investors as part of its recently announced S$9 million Series A funding round. This is the company’s first-ever financing.
Melbourne-based global payments unicorn Airwallex injected $3.3 million into its Singapore entity this week. Earlier in October, the parent company announced raising an additional $100 million in an extended Series E round at a valuation of $5.5 billion.
Singapore-based logistics service provider Cargobase allotted shares worth $253,000 to investors Koh Boon Hwee, David Lee Eng Thong, and Evander Management this week.
Finquest, a Singapore-based big data and AI platform, received $50,000 from existing investor Pierre Feligioni. Earlier in July, the company had raised $5.5 million in a funding round led by European venture capital firm Capricorn Partners.
Thai marketing platform Tellscore Company Limited has invested $90,000 in its Singapore entity. The parent company had raised an undisclosed amount in Series A funding from Siam Alpha Equity in February this year. Tellscore was launched in 2016 by Suvita Charanwong and Amornthep Chimpleenapanont, the co-founders of digital marketing agency Redlab.