Weekly roundup: PH-based Yield Guild Games nets $4.6m and other SE Asia deals

Yield Guild Games (YGG), a decentralised play-to-earn gaming outfit based in the Philippines, announced raising $4.6 million in an investment round led by venture capital firm Andreessen Horowitz (a16z).

The funding round, which was finalised before the YGG token sale on July 27, also saw participation from Kingsway Capital, Infinity Ventures Crypto, Atelier Ventures, and gaming entrepreneur Gabriel Leydon.

YGG lends gamers the initial capital to buy a character to get started in a blockchain game. These games allow players to earn in-game tokens that can be converted to cryptocurrency and then sold for real money.

To date, YGG has 4,700 players, called scholars, over 2500 of whom are Filipinos, in the game Axie Infinity that have earned over $8.6 million.

Yield Guild said it will use the fresh funding to continue investing in digital assets in games and virtual worlds across the play-to-earn ecosystem and expand its global community of gamers.

Instant delivery startup RaRa Delivery nets $3.25m

Singapore-based last-mile delivery startup RaRa Delivery announced raising $3.25 million in fresh funding co-anchored by Sequoia Capital India’s Surge and Indonesian venture capital firm East Ventures.

The funding round also received backing from 500 Startups, Angel Central, GK Plug and Play, and angel investors Royston Tay and Yang Bin Kwok, according to the announcement.

Founded in Singapore in 2019 by Karan Bhardwaj, RaRa Delivery provides instant and same-day deliveries for e-commerce businesses in Indonesia through data-driven logistics. The startup said it has developed batching technology to do “many-to-many” deliveries within a few hours.

Its customers include grocery player Sayurbox and healthtech company Alodoktor. RaRa Delivery is part of Surge’s fifth cohort of 23 companies.

The market size for same-day delivery in Indonesia is expected to grow to 30%, totalling 4.5 million parcels a day by 2023, and premium logistics charges for same-day delivery services is projected to increase to 65 trillion rupiah ($4.5 billion) in 2023, up from 4.4 trillion rupiah in 2018, according to a report by Eastspring Investments.

Thailand’s Wisesight raises $7m in Series B funding

Thai-based social data analytics firm Wisesight announced raising $7 million in its Series B funding round co-anchored by Krungsri Finnovate and TechMatrix Japan.

Krungsri Finnovate is the venture capital arm of Thai commercial bank Krungsri (Bank of Ayudhya) while TechMatrix Japan is a Japanese global IT solutions provider.

Wisesight claimes to be the leading provider of social media analysing service in Thailand, serving brands and agencies across the country. It processes social media data based on more than 20 million messages a day.

The company said the latest funds will be used to increase its capacity and strengthen its ability to grow sustainably. It now seeks to accommodate more market demand by combining the specialisations of both partners.

“We will continue to innovate in order to better serve our clients. This year, in addition to maintaining our leadership position in social data analytics, we expanded our analysis to a broader and deeper level,” said Wisesight Thailand CEO Kla Tangsuwan.

SOUTHEAST ASIA DEAL MONITOR

DealStreetAsia has put together a table listing out prominent venture capital transactions in Southeast Asia in the week beginning August 20.

Expand Table

StartupsHeadquarterInvestment SizeInvestment StageLead Investor(s)Other Investor(s)Industry / Verticals
MohjoSingaporeSeedEast VenturesFoodtech
MindFiSingapore$750,000Pre-SeedM Ventures, iGlobe PartnersHealthtech
JenfiSingapore$6,300,000Series AMonk's Hill VenturesKorea Investment Partners, Golden Equator Capital, 8VC, ICU Ventures, Taurus VenturesFintech
ADPListSingapore$1,300,000SurgeEdtech
WisesightThailand$7,000,000Series BKrungsri Finnovate, TechMatrix JapanData Analytics
InnotechVietnam$2,000,000Probus OpportunitiesInvestech
EtailyPhilippines$1,600,000SeedAyala Ventures, Foxmont Capital Partners, Magsaysay Shipping & LogisticsEcommerce
RaRa DeliveryIndonesia$3,250,000Surge, East VenturesLogitech
PDAXPhilippines$12,500,000BC GroupBeenext Ventures, CMT Digital, Ripple Labs, UBXCryptoexchange
ShandiSingapore$700,000SeedTolaramFoodtech
HOMA2UMalaysia$566,000Warisan Quantum ManagementEcommerce
Yield Guild GamesPhilippines$4,600,000Andreessen HorowitzKingsway Capital, Infinity Ventures Crypto, Atelier Ventures, Gabriel LeydonGaming
LifePalIndonesia$9,000,000Series AProBatus CapitalCathay Innovation, Insignia Ventures Partners, ATM Capital, Hustle FundInsurtech

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.