Data Vantage: South and Southeast Asia’s tech firms hand in report cards

This week, we look at some of the well-funded software and information services firms in the region that have recently reported their financial results.

Data intelligence startup Near reported revenue of $18.9 million in the year ended March 31, 2020, a 46% increase from the previous year. Its losses also went up, albeit at a slower pace of 36%, to $12.3 million in the fiscal.

Near founder and CEO Anil Mathews had earlier told DealStreetAsia that the firm was in talks with investors to raise over $100 million in fresh funding.

Capillary Technologies, which offers customer relationship management software and marketing analytics for retailers, reported flat revenue growth in FY2020 but saw its losses narrow down to $11.7 million. The Singapore and Bengaluru-based technology firm has so far raised over $80 million in equity financing. It has also raised venture debt from InnoVen Capital in the past.

Financials of Capillary Technologies 

Source: DATA VANTAGE

Deskera Singapore, a provider of accounting and CRM software, recently reported financials for the year ended December 31, 2019. Its revenue and losses came down slightly to $58.02 million and $16.4 million, respectively, in the fiscal year.

DeClout, which invests in and incubates technology companies in Asia, reported a 36% YoY revenue growth in the financial year ended December 31, 2020. However, its losses widened to $9.1 million in the fiscal. The firm operates various entities such as ARCO, Aeqon, GUUD, and DeClout Ventures, its corporate venture arm.

Other updates from DATA VANTAGE

ReDefine Capital Fund, the Singapore-registered arm of Alibaba-backed eWTP Technology Innovation Fund, pumped $10 million into Ficus Asia Investment last week. The fund had earlier invested $50 million in Ficus in 2020.

Lion TCR, a clinical-stage biotechnology company, recorded multiple secondary transactions earlier this week, leading to the addition of Skyline Capital Investment to its cap table. The biggest beneficiary would be Wang Shuli – likely to be the company’s COO Tina Wang – who divested her entire stake comprising over 2 million shares.

Doerscircle, a solutions platform for freelancers and the self-employed, received $280,000 in paid-up capital from a group of individual investors last week. Esben Sofren Poulsson, the chairman of ship management firm Ensel, pumped in $150,000 alone.

This week, data solutions provider Qorenext secured $40,000 from angel investors, including marketing tech entrepreneur Kristin Luck and The NPD Group CFO Tom Lynch.

Alternative investment platform Kilde received a capital injection of $142,301 from its parent company Kilde Holding Pte Ltd this week.

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.