SEA Digest: Thailand’s Drivemate, SG’s Claritecs raise funds

Singapore's maritime industry.

Thailand-based car-sharing platform Drivemate has secured $2.2 million in a Series A round led by Netsol Technologies Inc, while Singapore-based maritime solutions firm Claritecs has raised S$850,000 ($600,000) in a pre-Series A funding round from Innoport.

Thai P2P car-sharing platform Drivemate raises $2.2m

Thailand-based car-sharing platform Drivemate has secured $2.2 million in a Series A round led by Netsol Technologies Inc., a Nasdaq-listed IT and enterprise software solutions provider in the US.

Other investors including Isuzu, UNT Group, and Colopl Next also participated in the round, which brings Drivemate’s total funding to $2.8 million.

Established in 2016, Drivemate is one of the leading peer-to-peer car-sharing services in Thailand. The company has more than 9,000 rental cars in all ranges of cars and a presence in over 45 provinces.

It will use the additional funds to further develop its platform and integrate its infrastructure with Netsol’s Otoz mobility platform.

Otoz will allow Drivemate to apply emerging tech like blockchain, internet of things, and machine learning to functions such as logging car histories, tracking customer transactions, implementing dynamic pricing, managing inventory, and monitoring driver behaviour and vehicle usage.

The fund raised will be used to expand into other Asian countries such as China, Singapore, and Australia.

Claritecs raised $600K pre-Series A funding from Innoport

Singapore-based maritime solutions firm Claritecs has raised S$850,000 ($600,000) in its pre-Series A funding round from Schulte Group-backed venture capital unit Innoport and an angel investor from the Singapore maritime industry, according to a statement.

The funds raised will be used to support product development and market roll-out while enabling Claritecs to strengthen its position in the local technology innovation arena specialising in the bunkering sector.

Claritecs aims to raise its Series A round by the first quarter of 2020 to support its international expansion and future product development.

In May, the Schulte Group had launched Innoport, a dedicated venture capital unit which identifies investment opportunities in the global maritime startup ecosystem to equip entrepreneurs with smart capital.

The unit will support early-stage maritime and logistics startups predominantly in Europe and Asia, with the flexibility to collaborate with newcomers from all areas of the world.

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.