SEA digest: SG’s Karana raises $1.7m; MyanCare raises funding led by SPARX

Photo by Keji Gao on Unsplash

Singapore’s plant-based meat startup Karana has secured $1.7 million in seed funding from several investors across the region, while Myanmar-based healthtech startup MyanCare has raised $600,000 in funding led by Japan’s investment group SPARX.

SG-based Karana raises $1.7m seed funding 

Singapore’s whole plant-based meat startup Karana on Friday announced that it has secured $1.7 million in seed funding from several investors across the region.

Its seed investors include food manufacturer Monde Nissin Corporation’s CEO Henry Soesanto, VC firms Big Idea Ventures and Germi8, and a number of angel investors, including Hong Kong-based food and beverage entrepreneurs Kevin Poon and Gerald Li, and an undisclosed FMCG executive.

The capital will be used to launch its first range of whole plant-based meats and dim sums in Singapore, accelerate its research and development efforts and build a regional food tech team.

Karana is set to launch its pork substitute made from jackfruit in collaboration with some of Singapore’s top restaurants. The product will be available in the retail market early next year.

Myanmar’s MyanCare bags investment led by Japan’s SPARX 

Myanmar-based healthtech startup MyanCare has secured $600,000 in funding led by Japan’s investment group SPARX, the firm said in a statement.

Japanese tech information firm Scala and pharmacy and drug store chain AIN Holdings also participated in the round. In 2019, MyanCare had secured an undisclosed amount in pre-Series A funding from SPARX Group.

Founded by two medical experts and a tech professional, MyanCare claims to be the first telemedicine company in Myanmar. The firm operates the MyanCare healthcare app and YinThway paediatric medical call centre services.

“We are serving patients every 7 minutes these days. During COVID-19 period from March to June, we were able to provide quality consultations countrywide and it is still going on,” said MyanCare CEO Zaw Min Tun.

The firm will use the investment proceeds to boost its position in Myanmar’s telemedicine market and expand the coverage of its services.

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.