SG’s Kind Kones raises $754K in seed round and other SE Asia deals

By Mars W. Mosqueda Jr.

January 14, 2021

Singapore-headquartered plant-based ice cream brand Kind Kones has raised S$1 million (S$754,000) in a seed round led by DSG Consumer Partners, an early-stage venture capital firm that invests in consumer-product space in Southeast Asia and India.

In a statement, Kind Kones, founded in 2017 by Ishpal Bajaj and Serina Singhsachathet in Malaysia, said the funding round was also participated by Sabre Ventures and other investors.

Bajaj said the fresh funding will be used towards building Kind Kones’s global brand and developing new distribution channels. Kind Kones currently operates six outlets and two e-commerce channels.

Its ice creams are all-natural vegan and free from dairy, egg, refined sugar, and other artificial additives with mostly gluten-free options.

The global vegan ice cream market was valued at more than $500 million in 2019 and is expected to grow at a CAGR of 13.7 per cent to reach $805.3 million in 2017, according to data released by Allied Market Research.

SOUTHEAST ASIA DEAL MONITOR

DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia in the week beginning Jan 11.

Expand Table

StartupHeadquarterInvestment Size (US)Investment StageLead Investor(s)Other Investor(s)Industry                   
BentoSingapore$720,000GrabInvest AsiaFinancial
MyKuya TechnologiesPhilippines$975,000Faithace International LimitedHuman Resources
Qualee TechnologySingapore$1 millionTandem Technology PartnersHuman Resources
H3 Dynamics HoldingsSingapore$3.2 millionGrosvenor AsiaArtificial Intelligence
MultiplierSingapore$2.4 millionSurge Ventures, K9 IndustriesHuman Resources
LionsbotSingapore$3.8 millionREIWAG, Bejac Investment Ltd, Fairsky Worldwide, Black Kite InvestmentsRobotics
Kind KonesSingapore$754,000SeedDSG Consumer PartnersSabre VenturesFood
MoMoVietnamSeries DGoodwater Capital, Warburg PincusAffirma Capital, Kora Management, Macquarie Capital, Tybourne Capital ManagementFinancial
AdvantirSingapore-SeedRaging Bull Investmentsshe1K Global, Expara Asia Ventures, AzerusFood
Titik PintarIndonesia-Pre-SeedIWEFEducation
BukuKasIndonesia$10 millionSeries ASequoia Capital IndiaSoftware
MicroleapMalaysia$3.3 millionMAA GroupFinancial
Yeast MasterThailand-Seed UMG IdealabFood
ZipmexSingapore$6 millionSeries AJump Capital
Financial
SampinganIndonesia$1.5 millionPre-Series AGolden Gate VenturesAntlerHuman Resources
MicroSecSingapore-Series AMassMutual VenturesWavemaker Partners, SEEDS CapitalCybersecurity
Crown TechnologiesSingapore--JR East Business Development SEARobotics
SnaphuntSingapore$1 million-BEENEXTHuman Resources
FinlyncSingapore$16 million -Point72 Ventures, NYCA Partners, Vine VenturesFinancial
Nimbly TechnologiesIndonesia$5.7 million-Insignia Ventures Partners, Sovereign's Capital, Saison CapitalIT
HangryIndonesia$1.5 millionAlpha JWC Ventures, Surge VenturesFood
SyfeSingapore$3.8 millionValar Ventures, UnboundFinancial
Buffalo Technology (Epsilo)Singapore$1 MillionVulcan CapitalSoftware
Big PoolSingaore$500,000--Insurance
AjaibIndonesia$25 millionSeries AHorizon Ventures, Alpha JWCFinancial
AlamiIndonesia$10 millionSeries AAC Ventures, Golden GateFinancial
PintekIndonesia$21 millionDebt FacilityAccial CapitalFinancial

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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.
APPLY NOW

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.
APPLY NOW