Transcelestial, a Singapore-headquartered Wavemaker-backed global internet connectivity provider, has secured a $2-million strategic investment from Philippine-based venture capital firm Kickstart Ventures.
The investment also marks Transcelestial’s entry into the Philippines, a country with an Internet penetration of 67 per cent but with an average download speed of only 50 per cent of the world average on mobile.
The startup said its Centauri technology unlocks fiber-equivalent high bandwidth between 4G/5G cell towers and the telco core network that connects back to data centres. This provides a transmission network with a reduced total cost and time of ownership as compared to fiber internet, it added.
Founded in Dec 2016, the Transcelestial team is located in Singapore and is backed by major investors such as Wavemaker Partners, EDBI, Airbus Ventures, Cap Vista, SEEDS Capital (Enterprise SG), Entrepreneur First, Partech Ventures, and 500 Startups, among others.
The deal is the first publicly announced investment by Kickstart ventures through its $180 million Ayala Corporation Technology Innovation Venture (ACTIVE) fund. ACTIVE seeks to invest in Series A to D startups globally and has four investment focused on the future of transactions and transfers, work and human capital, resource allocation and availability, and property, homes, and community life.
Thai insurtech startup AppMan raises $4.6m Series A
Thailand-based insurtech startup AppMan has raised $4.6 million in Series A funding from Siam Alpha Equity (SAE), Krungsri Finnovate, Casmatt, KTBST Group, and POEMS Ventures.
The fresh funds will be used to support the development of innovative technologies in the APAC region, including the use of AI for insights screening for financial institutions as well as the investment and insurance industry.
AppMan was founded in 2011 by Thanapoom Chareonsiri and his co-founders Amarit Franssen, Pak Ratthidham, and Nuttapon Kongkitimanon with the aim of building a software solution that would digitise the insurance sector. Its electronic point of sale has gained the trust of many Thai insurers.
Traveloka backs $1m funding in Indonesia’s Member.id
Indonesia-based marketing and loyalty services-focused tech firm Member.id has secured $1 million in a Series A round led by East Ventures and backed by travel major Traveloka, according to an announcement.
Member.id, launched in 2014, provides strategy consulting, data analytics, and tech solutions for enterprise clients to drive customer retention. It also operates a TS Media division, which focuses on creating content to drive up customer acquisition for businesses.
The Jakarta-headquartered startup also announced the launch “Travel Secrets”, a travel content platform that marks its expansion into the creator economy. “Travel Secrets will be part of the TS Media division.
SOUTHEAST ASIA DEAL MONITOR
DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia in the week beginning February 15.
|Startup||Headquarter||Investment Size||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry|
|Transcelestial||Singapore||$2 million||Kickstart Ventures||Internet / Connectivity|
|AppMan||Thailand||$4.6 million||Series A||Siam Alpha Equity (SAE), Krungsri Finnovate, Casmatt, KTBST Group, POEMS Ventures||Insurtech|
|Mesh Bio||Singapore||$1 million||Seeds Capital, Elevate VC, Citrine Capital||Healthtech|
|Points Geek||Indonesia||500000||East Ventures, Alto Partners||Media|
|M. Development||Singapore||476000||DSG Consumer Partners||Hospitality|
|Green Butcher||Indonesia||-||Seed||Unovis Asset Management||Foodtech|
|Member.id||Indonesia||$1.1 million||Series A||East Ventures||Traveloka||Media / Marketing|