Founded in 2016, Canopy Power designs, builds, and finances optimised renewable energy microgrid solutions that target businesses and communities dependent on diesel power generation and weak grids.
Its microgrids have already been deployed in Indonesia, Myanmar, and Malaysia. The company is also currently developing a solar and battery storage microgrid on the remote island of Koh Rong Sanloem in Sihanoukville, Cambodia.
CEO Sujay Malve said remote microgrids and hybrid systems is a fast-growing segment in the distributed energy industry. The investment from Total Carbon Neutrality Ventures, he added, is an endorsement of Canopy Power’s business model and technical competence.
Total Carbon Neutrality Ventures focuses on finding, funding, and fostering high-potential startups that contribute to creating a low carbon future. Its current investment focus areas include renewables, distributed energy, new mobility, energy access, energy storage, biofuels, bioplastics, circular economy, and recycling.
Thailand’s Drivehub eyes expansion after closing Series A
Drivehub, a Thailand-based online car rental platform, announced that it has raised an undisclosed amount of funding in a Series A round, which was co-anchored by Toyota Tsusho, CAC Capital, and KK Fund.
The fresh funding, which the company said is seven figures USD, will be used to finance the enhancement of its software and technological systems. It also seeks to expand in Indonesia, Malaysia, and Singapore.
Launched in 2017, Drivehub is a B2C car rental marketplace and fleet management platform that can accept both low risk accredited and high-risk unaccredited car rental user segments. It serves customers with or without a credit card. The startup said it has grown by 50 per cent in January compared to the same period last year, despite sales setbacks by as much as 90 per cent in April 2020 due to the COVID-19 pandemic.
Singapore loan broker Lendela raises $2m
Lendela, a Singapore-based startup that connects customers with banks and lenders, has raised $2 million in a pre-Series A financing round led by existing investors Promise Future International and Luxembourg-based early-stage venture capital fund 2be.lu Investments.
In a statement, the startup said it will use the fresh funds to finance its planned expansion in Singapore and Hong Kong. It also seeks to hire more people especially in tech development, business development, and marketing.
Lendela, launched in 2018 as part of the global financial technology group Centro Finmarket, optimises the loan application process by submitting a single application to multiple lenders. Its network of lenders then responds fast with the best possible interest rates.
iStore iSend secures $5.5m Series B
Malaysia’s e-fulfillment company iStore iSend announced on Tuesday that it has raised $5.5million in a round co-led by regional venture capital firm Gobi Partners and Malaysia’s web-based parcel consolidator EasyParcel. The funds will be used by the company to scale existing markets and to expand to new countries.
Incorporated in 2015, iStore iSend provides end-to-end services to its clients from storage and pick-and-pack to delivery arrangements when an e-commerce order is received. The company also offers value-added services, such as real-time inventory management and shipment tracking.
SOUTHEAST ASIA DEAL MONITOR
DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia from June 25-29, 2021.
|Startup||Headquarter||Investment Size (US)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry|
|Canopy Power||Singapore||Total Carbon Neutrality Ventures||Energy|
|Teapasar||Singapore||$935,000||BP de Silva Holdings, Seeds Capital||Online marketplace|
|Pairx Bio||Singapore||$537,000||Avendesora Limited||Pharma|
|Ula||Indonesia||$20 million||Series A||Quona Capital, B Capital Group||Sequoia Capital India, Lightspeed||Ecommerce|
|Gettgo||Thailand||$6.7 million||Muang Thai Group||Insurtech|
|LottieFiles||Malaysia||$9 million||Series A||M12||500 Startups, Adobe||Design|
|TechStorm||Singapore||Undisclosed||Series A||Jason Chen, Golden Hill Asset Management, Professor Wong Poh Kam||Entertainment|
|Drivehub||Thailand||Undisclosed||Series A||Toyota Tsusho, CAC Capital, KK Fund||Online marketplace|
|Lendela||Singapore||$2 million||pre-Series A||Promise Future International, 2be.lu Investments||Consumer credit management|
|IMMedia||Singapore, Australia||Undisclosed||Series A||Saxby Capital, Intuitive Australia||Content marketing|
|Quincus||Singapore||$3.1 million||Masik Enterprises, Green Leafe Capital, Seasight Holdings, Investigate VC||Logistics|
|Babynostics||Singapore||$600,000||Tikehau Investment Management||Healthtech|
|Moby's Petshop||Singapore||$750,000||Jo Group OU, Estonian Opportunity Capital OU||Online marketplace|
|ACM Biolabs||Singapore||$2.6 million||San Pacific Investments, Ritz Venture Capital||Healthtech|
|CrediBook||Indonesia||$1.5 million||pre-Series A||Wavemaker Partners, Alpha JWC Ventures, Insignia Ventures Partners.||Fintech|
|iStore iSend||Malaysia||$5.5 million||Series B||EasyParcel, Gobi Partners||Logistics|
|CapBay||Malaysia||$20 million||Series A||KK Fund||Fintech|
|Podcast Network Asia||The Philippines||$750,000||Seed||Foxmont Capital, Venturra Discovery, Summit Media president Lisa Gokongwei||Kumu||Podcast network agency/media|