SEA Digest: SG’s LYS Energy raises $9.8m from UOB; Vietnam’s Homebase raises pre-seed funding

Photo: Keppel

Singapore-based solar independent power producer LYS Energy Group has secured a S$14 million ($9.8 million) green loan from United Overseas Bank. In a separate development, Vietnamese proptech startup Homebase has raised an undisclosed amount of pre-seed funding from early-stage venture capital firm and startup generator Antler, Iterative VC.

Singapore’s LYS Energy raises $9.8m from UOB

Singapore-based solar independent power producer LYS Energy Group (LYS) has secured a S$14 million ($9.8 million) green loan from United Overseas Bank (UOB), according to an announcement.

The loan, the company said, will be used to finance its solar energy assets in the city-state and to support its expansion as it seeks to drive the adoption of clean energy in the commercial and industrial sectors across the region.

Founded in 2012, LYS builds, owns and operates solar PV systems for commercial, industrial and public sites in the Asia Pacific region.

Since its incorporation, the company claims to have deployed over 50MWp of solar PV systems, with a pipeline of over 500MWp in Singapore and across the region in Vietnam, Indonesia, Malaysia, Thailand, and the Philippines.

“Through our U-Solar programme, UOB has been working actively with our clients, including LYS Energy Group, to accelerate the use of solar energy in Singapore and across the region,” said Lionel Steinitz, founder and chief executive officer of LYS Energy Group.

Vietnam’s Homebase raises pre-seed round 

Vietnamese proptech startup Homebase has raised an undisclosed amount of pre-seed funding from early-stage venture capital firm and startup generator Antler, Iterative VC, according to an announcement.

Other investors including strategic angel investors and Brian Ma, co-founder of US-based alternative homeownership startup Divvy Homes also joined the funding round.

The funds raised will be used to expand its tech infrastructure, make new hires, and push forward with its regional expansion plans.

Co-founded by Phillip An, Hung Viet Doan, and Hai Vu in 2019, Homebase is a home-financing technology company tackling the millennial ownership crisis across Southeast Asia, starting in Vietnam.

The startup claims to provide customised co-investment plans, where home buyers can pay the portion they can afford, move in from the first day, and then buy out all or part of their stake when they are ready.

Founded in 2018 by Magnus Grimeland, Antler operates a company builder programme that invests in startups at the pre-concept and pre-team stage.

In January, Antler raised $50 million for its funds across Amsterdam, London, New York, Stockholm, Sydney, Nairobi and Singapore.

Homebase is one of the 14 startups from Antler’s third cohort.

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.