Weekly roundup: PH live streaming app Kumu raises funding and other SE Asia deals

The Philippines-based live-streaming app Kumu announced that it has raised an undisclosed amount of funding in its Series B round co-anchored by ByteDance shareholder SIG and Singapore-headquartered venture capital firm Openspace Ventures.

The official announcement confirms DealStreetAsia’s report in March that the startup was finalising a $15 million Series B funding round backed by Openspace Ventures and a “blue chip” strategic investor.

Kumu said existing investors Summit Media, Kickstart Ventures, Foxmont Capital Partners, and Gobi-Core Philippine Fund have participated in the funding round. New investors Gentree Fund, and Endeavor Catalyst Fund also chipped in.

The startup, co-founded by Rexy Josh Dorado and Roland Ros, said it will use the new funding to scale its current operations, grow its wallet share, boost its local content, and expand its creator base. Kumu has grown its content creator base from 65 to 1,000 over the last year while its monthly active users grew from 500,000 to 2 million since its launch on Android and iOS devices in February 2018.

The live streaming startup, which caters mainly to the Philippine market and Filipinos working or living abroad, raised around $4-5 million in its Series A funding round, which was led by Openspace Ventures, in April 2020.

ING Labs spin-out Stemly nets $2.5m

Software-as-a-Service (SaaS) startup Stemly, a spin-out of ING Singapore’s startup incubator, has secured $2.5 million in seed funding from Elev8, ING Ventures, and EDB New Ventures.

Stemly has developed a platform that automates forecasting in supply chain operations and finance processes. The platform addresses the gap in the industry, where the average forecasting error is more than 27% and response to market changes in consumer behaviour usually takes three weeks or more.

The startup said it can enhance the decision-making capabilities of enterprises by demystifying data science and delivering business outcomes through its autonomous machine learning technology.

“Stemly empowers managers to make better and faster decisions in demand forecasting, inventory optimisation, and cash flow management, ultimately reducing their operating costs and improving their operational efficiency,” said co-founder and co-CEO Sanjay Saini.

SOUTHEAST ASIA DEAL MONITOR

DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia in the week beginning June 7.

Expand Table

StartupsHeadquarterInvestment SizeInvestment StageLead Investor(s)Other Investor(s)Industry / Verticals
Qlue PerformaIndonesia KDDI Smart City Platform
AlodokterIndonesiaMDI Ventures, Samsung VenturesHealthtech
MooVitaSingaporeSeries AYinson Green TechnologiesSMRT VenturesMobility / AV Tech
StemlySingapore$2,500,000SeedElev8, ING, EDB New VenturesSoftware
Float FoodsSingapore$1,700,000Insignia Ventures Partners, DSG Consumer Partners.Apricot Capital, Baksh Capital, Teja Ventures, Ebb & Flow, Water Tiger Investments, Agrocorp Ventures, Innovate 360 Foodtech
WagelyIndonesia$5,600,000Integra PartnersADB Ventures, Triputra Investindo Arya, Global Founders Capital, Trihill CapitalFintech
AutopairThailandPre-Series AADB Ventures, Triputra Investindo Arya, Global Founders Capital, Trihill CapitalSoftware
AiHealthVietnamPre-Series ATNBA Vietnam ScoutHealthtech
BondEvalueSingapore$6,000,000Series AMassMutual Ventures Southeast Asia, CitigroupPotato Productions, OctavaFintech
NaluriMalaysia$5,000,000Series AIntegra PartnersDuopharma Biotech, Pathology Asia, M Venture PartnersHealthtech
T32 Dental GroupSingaporeEDBIDentaltech
KumuPhilippinesSeries BSIG, Openspace VenturesSummit Media, Kickstart Ventures, Foxmont Capital Partners, Gobi-Core Philippine Fund, Gentree Fund, Endeavor Catalyst FundLive Streaming
BukuWarungIndonesia$60,000,000Series AValar Ventures, Goodwater CapitalFintech
OsomeSingapore$16,000,000Series ATarget Global, AltaIR Capital, Phystech Ventures, S16VCFintech
IntrepidSingapore$11,000,000Series BMirabaud Asset ManagementVulpes Investment Management, ThakralEcommerce

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.