Weekly Roundup: Easybook.com nets $5m and other SE Asia Deals

Easybook.com, a SaaS startup for the transport industry, has announced raising $5 million in its Series C funding round led by investment firm Emissary Capital.

The startup, which provides long-range mobility software, plans to use the fresh capital to expand its inventory as well as drive revenue through additional monetisation strategies.

The business provides ticketing and route management software solutions to bus, train, and ferry operators across the region. Of the regions estimated 5,000 route operators, Easybook says it services over 1,200.

Operating in Malaysia, Singapore, Indonesia, Myanmar, Cambodia, Laos, and Brunei, Easybook currently manages $1.6 billion worth of regional long-range travel inventory in an industry estimated to be worth north of $11 billion annually.

“The capital from this investment will go a long way in expanding our presence and growing our inventory,” said Easybook managing director William Lee.

He added that the investment will be key as the company lines up for listing in the coming years.

Malaysia’s Babydash bags $300,000 and other SE Asia deals

Malaysia-based e-commerce platform for baby products Babydash has raised 1.27 million ringgit ($300,000) in a bridge funding round.

The round saw the participation of the Malaysian government via the Malaysia Co-Investment Fund (MYCIF), the company said in a statement.

This is Babydash’s second round of fundraising via equity crowdfunding on the pitchIN platform. In 2017, the company had raised 2 million ringgit via the platform, which led to a threefold revenue expansion and a 46% year-on-year growth.

Proceeds from the new round will be used to boost its market presence in Malaysia, as well as growing its Singapore market which it penetrated in 2019. Babydash also plans to double the size of the company in the next 12 to 18 months.

Founded in 2011, Babydash is a one-stop online store for parents. It boasts an 180,000-strong parenting community base, along with direct partnerships with brands and a supply chain ownership that guarantees delivery within 48 hours.

PH e-commerce platform Edamama raises $5m

Edamama, a Philippine-based e-commerce platform targetting Filipino mothers, announced raising $5 million in its pre-Series A funding round led by Gentree Fund, the venture vehicle for the Sy Family Office.

Philippine-based early-stage venture capital firm Foxmont Capital Partners, Robinsons Retail, and local VC firm Kickstart Ventures also participated in the funding round that Edama will partly use to expand its warehouse capabilities and improve its delivery services.

The e-commerce startup was launched amidst the pandemic by its founder Bela Gupta D’Souza. The firm said it addresses the issue of quality, as well as the other challenges common among today’s e-commerce platforms, such as channel fragmentation, non-established brand trust, the lack of discovery-led buying experience, and poor customer service.

Gentree Fund, the lead investor in the funding round, is the newly-launched investment vehicle of the Sy Family Office, which runs the retail giant SM Group. The fund has allocated an initial amount of $40 million to invest in Philippine startups and Southeast Asian firms looking to expand into the country.

SOUTHEAST ASIA DEAL MONITOR

DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia in the week beginning July 12.

Expand Table

StartupsHeadquarterInvestment SizeInvestment StageLead Investor(s)Other Investor(s)Industry / Verticals
Alternative Housing GroupPhilippines$1,100,000SeedFoxmont Capital PartnersDavid Leechiu, Melissa Limcaoco, Magsaysay familyProptech
NiumSingapore$78,000,000Series DRiverwood Capital Partners, Vertex GrowthFintech
VaraSingapore$44,800,000SeedGo Ventures, RTP Global, Alpha JWC VenturesSequoia Capital India's Surge, FEBE Ventures, Taurus VenturesHR Tech
SpeedhomeMalaysia$1,700,000Series AGobi Partners, Allianz MalaysiaProptech
OnlinePajakIndonesia$12,000,000Tencent Holdings, Altos Ventures, Warburg PincusLegal tech
Next Gen FoodsSingapore$20,000,000SeedTemasek, K3 VenturesGGV Capital, Bits x BitesFoodtech
MultiplierSingapore$4,000,000SurgeGolden Gate Ventures, MS&AD Ventures, Picus CapitalHR Tech
XuryaIndonesiaNew Energy Nexus, Schneider Electric, Crevisse PartnersRenewable Energy
edamamaPhilippines$5,000,000Pre-Series AGentree FundFoxmont Capital Partners, Robinsons Retail, Kickstart VenturesEcommerce
NAS AcademySingapore$11,000,000Series ALightspeed Venture PartnersTechAviv Founder Partners, 500 Startups, Graph Ventures, Fresh.fund, and Metapurse
Edtech
SyfeSingapore$30,000,000Series BValar VenturesPresight Capital, UnboundFintech
PongoIndonesia$7,710,000SMZDM, Lenovo Venture Capital
Grit VenturesEcommerce
BabydashMalaysia$300,000Bridge roundMalaysia Co-Investment Fund Ecommerce
OY!Indonesia$44,000,000Series ASoftBank Ventures AsiaAC Ventures, Pavilion Capital, MDI Ventures, Cakrawala Teknologi AsiaFintech
TinvioSingapore$12,000,000Series AAppWorks VenturesSurge, Global Founders Capital, Partech PartnersSaaS
Easy EatSingapore$5,000,000Agarwal Family OfficeProphetic Ventures, Reddy Futures Family OfficeFoodtech
TopCVVietnamMynavi CorporationHR Tech
Easybook.comSingapore$5,000,000Series CEmissary CapitalSaaS

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.