Weekly roundup: Social commerce platform abillion nets $10m and other SE Asia deals

Singapore-based social commerce platform abillion announced raising $10 million in its Series A funding round led by New York-headquartered, growth stage-focused venture fund 1/0 Capital.

Prominent investors in the funding round include Mamoru Taniya, the chairman of Tokyo-based SDG Impact Fund; and Bradley Busetto, former director of the UN Development Programme Global Centre on Tech, Innovation, Sustainability.

Founded in July 2017 by investment banker and fund manager Vikas Garg, abillion is a growing social commerce platform that seeks to help people and businesses around the world become more sustainable.

The company’s name, abillion, refers to the founder’s goal of achieving one billion people committed to plant-based living and a more sustainable planet.

Through the app, which was launched in May 2018, members can discover and review sustainable choices around them, share content with the community, and soon, be able to sell sustainable products and services to each other, according to the announcement.

The startup said members have published more than one million reviews of sustainable food, fashion, and beauty products from more than 60,000 consumer products brands in 162 countries.

The new funding, according to Garg, will be used to expand abillion’s product development, engineering, and design capabilities. It will also finance the building of a peer-to-peer marketplace within the app.

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 December 13, 2021.

Expand Table

StartupHeadquartersInvestment SizeInvestment StageLead Investor(s)Other Investor(s)Industry / Verticals
LemoniloIndonesia$36,000,000Series CSofinaEcommerce
FuseIndonesia$25,000,000Series B+Global fintech fundEast Ventures (Growth Fund), GGV Capital, eWTP, Emtek GroupInsurtech
Cryptomind GroupThailandPre-Series ABeacon VCFintech
Acad ArenaPhilippines$3,500,000Hashed, 1KXTwitch, Sky MavisGaming
UrBoxVietnam$2,200,000Series ATouchstone Ventures, Pavilion CapitalVinaCapital VenturesRetail
PraktisIndonesiaPre-Series AEast VenturesTriputra GroupSaaS
CrownXVietnam$350,000,000TPG, Abu Dhabi Investment Authority, SeaTownRetail
XuryaIndonesia$11,500,000Series AEast Ventures (Growth Fund), Schneider Electric Energy Access AsiaRenewable Energy
abillionSingapore$10,000,000Series A1/0 CapitalSocial Commerce
Smile APISingaporeCreditEase, Plug, Play APACHR Tech
RecikiIndonesiaCirculate Capital Ocean Fund (CCOF), Danone AQUAWaste management
LazudiThailand$2,000,000PropTech FarmProptech
OtoklixIndonesia$10,000,000Alpha JWC, AC VenturesSequoia Surge, angel investorsAutomotive aftermarket services
BandLabSingapore$53,000,000Series BVulcan CapitalK3 Ventures, Caldecott Music GroupMusic creation
SleekSingapore$25,000,000Series A+EDBICorporate services provider

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.