Weekly roundup: SG proptech startup Ohmyhome nets $5m and other SE Asia deals

Singapore-based property platform Ohmyhome announced raising $5 million in an extended Series A funding round led by local investor Swettenham Blue, the family office of OG department stores’ Tay family.

The funding round, which raised Ohmyhome’s valuation to $45 million, will be used to finance the startup’s R&D in data-matching technology, which it said will speed up the closing of property deals on its platform.

Ohmyhome, started in September 2016 by sisters Rhonda and Race Wong, connects buyers and sellers directly at no cost. The platform boasts features such as ‘ShoutOut’ and ‘Open House’ to enhance the overall user experience.

It first raised about $2.92 million in its Series A funding round in 2018, led by Golden Equator Capital. Since its founding in 2016, Ohmyhome said more than 5,100 homes have transacted through its platform, representing a combined value of over S$1.6 billion ($1.2 billion).

Singapore coffee tech startup Morning nets $1.27m 

Singapore-based coffee tech startup Morning announced raising $1.27 million in its pre-Series A funding round anchored by zVentures, the early-stage venture capital arm of global technology firm Razer.

Singapore-based The Lo & Behold Group also participated in the funding round, along with Zopim founders Royston Tay, Wu Wenxiang, and Kwok Yang Bin.

Morning, which was founded by Leon Foo and Andre Chanco, will use the fresh capital to fuel its international expansion, according to a press statement. The startup already has a presence in countries like Hong Kong, Canada, and the UK.

The startup said it aims to make specialty coffee more accessible in the home environment. It launched its IoT-enabled machine in 2020 using precision brewing features, combined with a recipe-driven ecosystem, to deliver every cup of coffee precisely as the roaster intended it to taste.

Morning said it reached its fundraising targets in 48 hours and sold out its first production run of 1,000 units within six months. Aside from the machine, Morning also operates the Morning Marketplace, an online shop to discover the world’s leading coffee roasters and all things specialty coffee.

SOUTHEAST ASIA DEAL MONITOR

DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia in the week beginning August 2.

Expand Table

StartupsHeadquarterInvestment SizeInvestment StageLead Investor(s)Other Investor(s)Industry / Verticals
MatrixportSingapore$100,000,000Series CDST Global, C Ventures and K3 VenturesQiming Venture Partners, CE Innovation Capital, Tiger Global, Cachet GroupFintech
LoshipVietnam$12,000,000Series CBAce Capital, Sun Hung KaiMetaPlanet, Wealth Well, Prism Ventures, SQ Capital GroupEcommerce
FeedloopIndonesiaPre-Series ATelkomsel Mitra InovasiAksara VenturesSoftware
Yummy Corp!IndonesiaSeries BBRI VenturesCloud Kitchen
Nektar.aiSingapore$6,000,000SeedB Capital Group, 3One4, Nexus Venture PartnersEcommerce
MadEatsPhilippines$125,000Y CombinatorCloud Kitchen
Flying CapeSingapore$1,500,000Series AStartup-O, EduSpazeEdtech
Phenikaa MaaSVietnam$1,500,000SeedPheenika GroupSaaS
MorningSingapore$1,270,000Pre-Series AzVenturesFoodtech
AyoconnectIndonesia$5,000,000Pre-Series BAAVCF4 PF1 LPFintech
FlowAccountThailand$4,000,000Series ASequoia Capital IndiaMoney Forward, SBI InvestmentSaaS
OhmyhomeSingapore$5,000,000Series A+Swettenham BlueProptech

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.