Weekly roundup: Indonesia’s VCGamers secures $2.6m seed and other SE Asia deals

VCGamers, an Indonesian social commerce platform for gamers, has secured $2.6 million in a seed round, led by BEENEXT and Rans Ventures — a venture fund owned by two prominent content creators, Raffi Ahmad and Nagita Slavina.

The round also witnessed participation from angel investors Ari Fadyl, a Google APAC executive; and Jerry Soer, VP at Collab Asia.

Following the funding, VCGamers — founded by Isya Sony Subrata, Hartanto, Ibnu Anggara, and Wafa Taftazani — six months ago, has reached $20 million in valuation.

The platform enables gamers to buy and sell in-game currencies, items, and services. It also offers a social hub where users can connect with each other, organise events and tournaments, and start or join e-sport teams.

VCGamers is also eyeing a Web3 play: the platform is launching its crypto token, VCG, on Friday and plans to allow users to mint their own gaming NFTs.

Based on results from the German statistical company, Statista, Indonesia’s online gaming industry revenues reached $1.29 billion in 2020 and was expected to hit $1.49 billion in 2021. Indonesian Gaming Association data shows that the country’s gaming industry grew 9% in 2020.

Agritech firm FoodMap raises $3m

FoodMap, an agritech e-commerce platform based in Vietnam, has announced raising $3 million in its pre-Series A funding round co-anchored by venture investors Vulpes Ventures and BEENEXT and backed by Wavemaker Partners and Ascend Vietnam Ventures.

Launched in 2020, FoodMap connects farmers and small- and medium-sized agricultural producers with end consumers to provide traceability of farm produce. Currently, the firm supplies products from more than 300 farmers and producers, severing both B2C and B2B customers.

FoodMap currently focuses on fresh products, seafood, selected meats, ready-to-cook food, and non-perishable products.

Founder and CEO Pham Ngoc Anh Tung said the fresh funding will be used to recruit key personnel and develop warehouse and operation systems.

“FoodMap wants to help both sides of the equation by optimizing the production process, raising the value of Vietnamese food products, and increasing visibility across the supply chain to strengthen customers’ trust,” he added.

Vietnam largely remains an agricultural country with about 20% of the population working in agriculture and related areas, according to reports cited by Tung. For 2021, the agricultural sector is expected to account for 15% of the country’s GDP.

SOUTHEAST ASIA DEAL MONITOR

DealStreetAsia has put together a table listing out prominent private equity and venture capital transactions in Southeast Asia for the week ending January 7, 2022.

Expand Table

StartupHeadquartersInvestment SizeInvestment StageLead Investor(s)Other Investor(s)Industry / Verticals
Smarter HealthSingapore$38,00,000Series AEast VenturesOrbit Malaysia, Citrine CapitalHealthtech
CyberHashSingapore$20,000,000LemonAlex ZhuCloud Storage
UpBanxIndonesia$5,200,000Pre-SeedY Combinator, Alpha JWCAlto Partners Multi-Family Office, Number CapitalFintech
Almond Finance Singapore$2,000,000SeedMorningside GroupFintech
Play It Forward DAOSingapore$6,000,000Signum Capital, Kyber Ventures, and UOB Venture ManagementJump Capital, GBV, LD Capital, Great South Gate, Octava, 975 Capital, Arcane Group, Tokocrypto, AU21, Double Peak Group, Faculty Group, NxGen, DWeb3 Capital, GSR, SL2 Capital, MintableGaming
Chain DebriefSingapore$900,000SeedSim Jian HongQCP Capital, Gecko Ventures.Media
AnfinVietnam$1,200,000SeedGoodwater Capital, Global Founders Capital XA Network, First Check VenturesFintech
XOPA AISingapore$4,200,000Series AICCP SBI Venture PartnersSEEDS Capital, AI8 Ventures, XCEL NEXT VENTURES, SASV InvestmentsHRtech
FoodMapVietnam$3,000,000pre-Series AVulpes Ventures, BeenextAscend Vietnam Ventures, Wavemaker PartnersAgritech, e-commerce
PandaiMalaysia$2,030,000SeedY Combinator, Global Founders Capital, 500 Global, Soma Capital, Harvard; RHL Ventures, Falnas Capital, Kembara KapitalEdtech
SpenmoSingapore$85,350,000Series BTiger Global ManagementInsight Partners, Rocket Internet, Addition, Global Founders Capital, Alpha JWC Ventures, Salesforce VenturesSaaS
TimoVietnam$20,000,000Square PegJungle Ventures, Granite Oak, FinAccel, Phoenix HoldingsDigital banking
BrankasSingapore$20,000,000Series BInsignia Ventures PartnersVisa, AFG Partners, Treasury International, BEENEXT, Integra PartnersFintech
Startup OiSingapore$1,000,000Pre-SeedJanuary CapitalGoodwater Capital, SonTech Ventures, Mohammed Alabsi, Pritesh Gupta, Nikhil LalwaniHRtech
VCGamersIndonesia$2,600,000Seed BEENEXT, Rans VenturesAngel investors (Ari Fadyl; Jerry Soer)Social Commerce
Power Commerce AsiaIndonesiaSeries AInterport Mandiri Utama, SAP ExpressE-commerce Enabler
OlseraIndonesia$2,500,000Seed Kejora-SBI OrbitPOS systems

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.