Thai e-commerce startup Mercular bags $3m funding and other SE Asia deals

Weekly deal monitors that capture prominent venture capital transactions in Southeast Asia, Greater China, and India.

Thailand-based hobby and lifestyle e-commerce startup Mercular has raised $3 million in its Series A funding round led by cross-border venture capital firm Kairous Capital, according to an announcement.

The funding round, which also saw participation from Cyber Agent, 500 Startups, N-Vest Venture, and Premier Advisory Group, will fuel Mercular’s platform improvement as well as the expansion of its products and categories, starting with gaming gear.

The startup’s founder and CEO, Woragun Wattanasakchai, said Mercular specifically targets those who are into hobby lifestyles. Starting out as a platform that sells audio gadgets, the Bangkok-based startup expanded its product line to now include sporting goods, cameras, collectible figures, and more.

Mercular operates both web and mobile channels and claims to be the first Thai e-commerce startup to receive funding from foreign investors.

SG’s e-ticketing platform GlobalTix raises $2.3m

GlobalTix, a Singapore-based tour and attractions ticketing platform, has announced raising S$3 million ($2.3 million) in its latest fundraising round co-anchored by Tin Men Capital and SEEDS Capital, the investment arm of Enterprise Singapore.

The startup, founded in 2013 by Chan brothers Chee Chong and Chee Kong, said the latest capital injection will help it meet increased demand for digitalisation among attractions and tour operators in the post-COVID era of travel.

The fresh funds will also fuel GlobalTix’s plan to deepen its footprint in Southeast Asia. Currently, the startup has offices in Hong Kong, Indonesia, Thailand, and the Philippines.

GlobalTix CEO Chan Chee Chong said the company is working closely with internationally recognised names, including Gardens by the Bay and Wildlife Reserves Singapore, Borobudur Temple in Indonesia, and Hoi An Ancient Village in Vietnam, to help them operate and thrive in the new normal.

Tin Men is a return investor in GlobalTix, having led a $9.1-million Series A round in the startup in 2018. On its website, the venture capital firm said the travel startup recorded $100 million in gross merchandise value and issued more than three million tickets annually before the pandemic struck.

SOUTHEAST ASIA DEAL MONITOR

DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia in the week beginning April 19.

Expand Table

StartupsHeadquarterInvestment SizeInvestment StageLead Investor(s)Other Investor(s)Industry
RuangguruIndonesia$55,000,000Series C2Tiger Global ManagementGGV CapitalEdtech
9PAYVietnamFuntapFintech
Qapita FintechSingapore$5,000,000Pre-Series AMassMutual VenturesEndiya Partners, Vulcan Capital, East VenturesFintech / Legaltech
NiumSingapore$21,000,000Temasek HoldingsFintech
CoLearnIndonesia$10,000,000Series AAlpha Wave Incubation, SGV VenturesSurge, AC VenturesEdtech
STACSSingapore$3,600,000Pre-Series AWavemaker PartnersTribe Accelerator, Stellar PartnersFintech
TurnKey LenderSingaporeDEGSEEDS Capital, Vertex Ventures, OSK Ventures International, MajuvenFintech
HalodocIndonesia$80,000,000Series CPT Astra InternationalTemasek Holdings, Telkomsel Mitra Invasi, Novo Holdings, Acrew Diversity Capital, Bangkok BankHealthtech
GlobalTixSingapore$2,300,000Tin Men Capital, SEEDS CapitalTravel
BamboolooSingaporeSeedRazerConsumer goods
SayurboxIndonesia$5,000,000Astra InternationalE-commerce / Marketplace
MercularThailand$3,000,000Series AKairous CapitalCyber Agent, 500 Startups, N-Vest Venture and Premier Advisory GroupE-commerce

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.