Data Vantage: Investors partake in food-related investments in SE Asia

Food surplus marketplace TreeDots received $11 million in funding last week in a Series A round co-led by venture capital firms Amasia and East Ventures. The round was joined by Active Fund, SEEDS Capital, and others.

East Ventures invested $5 million in the round, while Amasia put in $4 million. TreeDots’s share price is up 72% from its previous financing earlier this year.

Top shareholders in TreeDots

Source: DATA VANTAGE

Tackling the food waste problem

Around 931 million tonnes of food, or 17% of total food available to consumers in 2019, was wasted across households, retailers, restaurants and other food services, according to a March 2021 report.

The weight is roughly equivalent to 23 million fully loaded 40-tonne trucks — bumper-to-bumper, enough to circle the Earth seven times, found the Food Waste Index Report 2021 from the United Nations Environment Programme (UNEP) and partner organization WRAP.

About 61% of food waste came from households, 26% from food services and 13% from retail, according to the report.

Average food waste (kg/capita/year) by World Bank Income classification, averaging medium and high confidence estimates for countries

Source: Food Waste Index Report 2021

In other food-related deals, lab-grown breast milk maker Turtletree Labs received $30 million last week as part of its Series A funding round. Lead investor VERSO Capital, a European private equity firm, pumped in nearly $20.9 million in the round.

On Monday, healthy food chain Saladstop! announced an $8.7 million Series B round led by Temasek.

Tetlin Investments, a Temasek entity, invested $5.5 million in the round. Vulcan Capital, the investment arm of Microsoft co-founder Paul Allen, contributed $1.48 million, while DSG Consumer put in nearly $1.3 million.

Other updates from DATA VANTAGE

E-scooter rental firm Neuron Mobility received $30 million from Square Peg Capital and GSR Ventures last week. The startup’s share price is now 2.5 times that in its last financing in late 2020.

SiCepat Ekspres received $4.9 million last week from a special purpose vehicle backed by Kejora Ventures, Daiwa PI Partners, Hong Kong insurer FWD and German development finance institution DEG. Including the latest haul, SiCepat has raised $95.75 million in the round.

Nas Academy received nearly $200,000 last week from Nirman Investments and ACAD IND Limited. The capital infusion is part of an $11 million Series A funding round announced in July by the edtech firm. Nas Academy has now secured $10.32 million in equity investment as part of the round.

Singapore-based artificial intelligence startup Visenze, which focuses on e-commerce and online advertising, bagged $4.8 million last week. Sonae Investment Management and Rakuten Capital invested $1.4 million each, while Meranti Asean Growth Fund contributed nearly $1.2 million.

Funding Asia Group bagged $75,223 from a couple of investors last week, of which $49,981 came from United Family Capital. This brings its year-to-date funding to $17.4 million.

SEEDS Capital has sold its stake in wireless charging startup Xnergy to Singapore-based investment holding company TRIREC.

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.