INFOGRAPHIC: Top Asian Startup Funding — Week 14

Emmanuel Oyedeji -
  • Ola Electric Secures $50M Led by EvolutionX Debt Capital
  • Skyflow Raises $30M in Series B Funding Round
  • SingleInterface Raises $30M Led by Asia Partners and PayPal Ventures
  • KreditBee Raises $9.4M in Extended Series D Round
  • Thailand’s HD Ventures into AI Healthcare with $5.6M Funding
  • Bambrew Raises $7M for Sustainable Packaging Expansion

Ola Electric Secures $50M Led by EvolutionX Debt Capital

  • Ola Electric Mobility Ltd, a leading player in India's electric two-wheeler industry, has raised $50 million (Rs 410 crore) through non-convertible debentures, led by EvolutionX Debt Capital. Currently valued at $5.4 billion, aims for a $7-8 billion valuation post IPO.
  • The IPO-bound company plans to utilize the funds to enhance its electric vehicle services. This includes injecting capital into its subsidiary, Ola Electric Technologies Pvt Ltd (OET), to bolster its presence in the commercial EV segment.
  • OET, a key player in the EV value chain, aims to launch electric auto rickshaws and establish a gigafactory with funds from its projected IPO proceeds.

Skyflow Raises $30M in Series B Funding Round

  • Skyflow, a data storage service provider, has secured $30 million in an extension of its Series B funding round. Khosla Ventures led the round, joined by existing investors Mouro Capital, Foundation Capital, and Canvas Ventures.
  • The Palo Alto-based startup, founded by Anshu Sharma and Roshmik Saha, offers data privacy vault services to help companies isolate, protect, and govern customers’ sensitive data. Powered by polymorphic encryption technology, Skyflow ensures data protection without compromising usability for critical business operations.
  • With the latest funding, Skyflow aims to support the secure implementation of LLMs and compliance with data localization requirements globally.

SingleInterface Raises $30M Led by Asia Partners and PayPal Ventures

  • SingleInterface, an India-based SaaS startup, has secured a significant $30 million funding round led by Asia Partners and PayPal Ventures.
  • Founded in 2014, SingleInterface specializes in digitizing brands' storefronts, offering services such as building store locators, managing location pages, and overseeing listings on platforms like Google Maps, Instagram, and Foursquare. Operating across India, Australia, UAE, Japan, South Korea, and Southeast Asia, SingleInterface boasts clients like Tata Group, Reliance Group, KFC, Pizza Hut, and Nissan.
  • With this latest funding, SingleInterface aims to strengthen its market leadership in Asia and develop AI-driven marketing and commerce-enabling products focused on audience segmentation and personalized engagement.

KreditBee Raises $9.4M in Extended Series D Round

  • Digital lending platform KreditBee has secured $9.4 million (Rs 78.33 crore) in an extended Series D round from existing investors.
  • Wiseanya Ltd led the round with an infusion of $4.9 million (Rs 40.91 crore), followed by Motilal Oswal PE and Mirae Asset with $1.14 million (Rs 9.52 crore) and $138,000 (Rs 1.15 crore) respectively. Premji Invest, MUFG Bank Limited, and NewQuest Capital also participated in the round.
  • Founded by Madhusudan E, KreditBee acts as a platform connecting borrowers with NBFCs or banks, offering personal loans up to Rs 4 lakh to young professionals. The funds will be utilised to expand KreditBee’s operations and enhance its product offerings.

Bambrew Raises $7M for Sustainable Packaging Expansion

  • Bambrew, a Bengaluru-based sustainable packaging startup, has secured $7 million in a Series A funding round led by Blume Ventures with participation from Blue Ashva Capital, Mumbai Angels, Indus Capital, and several angel investors.
  • The funding, which includes equity and debt, aims to propel Bambrew's expansion into primary packaging for consumer goods, food, and beverages.
  • Founded in 2019, Bambrew offers plastic-free, environmentally friendly alternatives to single-use plastics, serving clients like Amazon and Nykaa. With the new capital infusion, the company plans to enhance its manufacturing capabilities, invest in research and development, and bolster its team.

Thailand’s HD Ventures into AI Healthcare with $5.6M Funding

  • Thailand-based health-tech firm HD, known as the “Airbnb for surgeries,” has recently secured $5.6 million in a Series A funding round led by SBI Ven Capital, a subsidiary of SBI Group, alongside investors from South Korea and Singapore.
  • Founded in 2019, HD aims to revolutionize healthcare with an AI-powered conversational chatbot. This chatbot, backed by anonymized healthcare data, will assist customers with regular inquiries, allowing human staff to focus on complex issues while ensuring 24/7 customer service availability.
  • HD plans to launch the chatbot within three months for its HDmall marketplace and later offer it to third parties like hospitals and clinics. Despite being on track for profitability post-pandemic, HD decided to raise funds to capitalize on lower acquisition costs and leverage the growing accessibility of AI technology in healthcare.

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