Tracxn - Monthly Report - Southeast Asia Tech - Sep 2021

TRACXN MONTHLY REPORT
SEPTEMBER 2021
SEA TECH

Southeast Asia Tech - September 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Contents
2
SEA Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 15
Top Funded Business Models - last 1 year 17
New Analyst Picks 18
Acquisitions 24
Recent News 25

SEA Tech Snapshot – September 2021
SEA Tech: Snapshot – September 2021
Note : "Investors" refers to "Institutional Investors" only
3
$2.0B
43
Overall Geo Stats
20
1
228
68
88
Funding Rounds $ Invested Analyst Picks
Xendit Upgraded to
UNICORN
New Investors
SkyVision
NEPTUNE INVEST
Series A+ rounds Active Investors IPOs Acquisitions
ZAPtag#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Singapore
(43 Rounds, $1.0B)
Jakarta
(17 Rounds, $359M)
Ho Chi Minh City
(7 Rounds, $12.9M)
Bangkok
(4 Rounds, $211M)
$578M - Series E
Ninja Van (2014, Singapore, $1.1B)
$170M - Series D
Carsome (2015, Petaling Jaya, $286M)
$150M - Series C
Xendit (2015, Jakarta, $238M)
$150M - Series C
Ascend Money (2013, Bangkok, $150M)
Y Combinator
(10 Investments)
East Ventures
(8 Investments)
Monk's Hill Ventures
(4 Investments)
SIG
(3 Investments)
Logistics Tech
Ninja Van
Payments
Ascend Money
Social Commerce
Carousell
Auto E-Commerce & Content
Carsome
Market Size
Companies Covered 29,433
Funded Companies 4,267
Total Funding $51.4B
Funding in last 12 months $12.5B
Top Exits
IPOs 107
Acquisitions 450
Company Stage
Unicorns 23
Soonicorns 97
Minicorns 384
Editor Picks 2,085
Series A+ 873
Series C+ 152
Acqui-Hires 16
Deadpooled 4,092
Top Cities
Singapore (1,998 Rounds, $27.6B)
Jakarta (689 Rounds, $14.2B)
Top Investors
East Ventures (133 Investments)
500 Durians (109 Investments)

Investment Snapshot
Investment Snapshot of SEA Tech as of September 2021
SEA Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (September 2021)*
Ninja Van
(2014, Singapore, $1.1B)
$578M - Series E DPDgroup
Carsome
(2015, Petaling Jaya, $286M)
$170M - Series D MediaTek
Ascend Money
(2013, Bangkok, $150M)
$150M - Series C Bow Wave Capital Management
Xendit
(2015, Jakarta, $238M)
$150M - Series C Tiger Global Management
FinAccel
(2015, Singapore, $160M)
$125M - Series C MDI Ventures
Carousell
(2013, Singapore, $363M)
$100M - Series E STIC Investments
ShopUp
(2016, Dhaka, $110M)
$75.0M - Series B Sequoia Capital
Aspire
(2015, Singapore, $99.5M)
$58.0M - Series B DST Global
SOCAR
(2017, Kuala Lumpur, $73.0M)
$55.0M - Series B EastBridge Partners
Sunday
(2017, Bangkok, $75.0M)
$45.0M - Series B Tencent
KiotViet
(2013, Hanoi, $51.0M)
$45.0M - Series B KKR
*Shows only the lead Investors

List of Funding Rounds (1/10)
List of Funding Rounds in SEA Tech in September 2021
SEA Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$10.0M - Series C
Chaldal (2013, Dhaka, $20.0M)
Online grocery store offering multi-category grocery
products
Mir Group, Xploration Capital, Taavet Hinrikus, Sten
Tamkivi
LATE STAGE
$30.0M - Series C
Homage (2016, Singapore, $45.0M)
Provider of an online caregiver discovery platform
Sheares Healthcare, DG Daiwa Ventures,
HealthXCapital, SAGANA, East Ventures, and 1 more
LATE STAGE
$100.0M - Series E
Carousell (2013, Singapore, $362.8M)
Online community marketplace offering multi-category
used products
STIC Investments
LATE STAGE
$125.0M - Series C
FinAccel (2015, Singapore, $160.0M)
Online marketplace for point-of-sale financing
Cathay Innovation, Endeavor, MDI Ventures
LATE STAGE
$150.0M - Series C
Xendit (2015, Jakarta, $238.0M)
Online payment and money transfer solution for
businesses
Tiger Global Management, Goat Capital, Accel, Amasia
LATE STAGE
$150.0M - Series C
Ascend Money (2013, Bangkok, $150.0M)
Financial services platform for individuals
Bow Wave Capital Management, Charoen Pokphand
Group, Ant Financial
LATE STAGE
$170.0M - Series D
Carsome (2015, Petaling Jaya, $286.4M)
Online C2B marketplace for used cars
MediaTek, 500 Startups, Asia Partners, GOBI, Catcha
Group
LATE STAGE
$578.0M - Series E
Ninja Van (2014, Singapore, $1.1B)
App-based platform providing last-mile B2C courier
services
B Capital Group, DPDgroup, Monk's Hill Ventures,
Alibaba Group
LATE STAGE
Series C
Society Pass (2018, Ho Chi Minh City)
AI-enabled loyalty technology and analytics platform

6
EARLY STAGE
$2.1M - Series A
Komunal (2018, Surabaya, $2.1M)
Online P2P lending marketplace
East Ventures, Skystar Capital
EARLY STAGE
$2.4M - Series A
Dimuto (2018, Singapore, $2.4M)
Provider of blockchain, web, and AI-based trade
management and product tracking solutions
The Yield Lab Asia Pacific, Asia Capital Pioneers Group,
Great Giant Pineapple, , Seeds Capital, and 1 more
EARLY STAGE
$3.0M - Series A
Ackcio (2016, Singapore, $3.5M)
Provider of IoT-based geotechnical monitoring
solutions for multiple industries
Atlas Ventures, Wavemaker Partners, AccelerAsia,
Aletra Capital Partners
EARLY STAGE
$3.2M - Series A
iVideoSmart (2016, Singapore, $3.2M)
AI and cloud-based video publishing and monetization
platform
Tin Men, Kickstart Ventures, Vulpes Invest, SGInnovate
EARLY STAGE
$3.8M - Series A
BCMH (2021, Singapore, $3.8M)
Provider of NFT-based blockchain gaming platform for
the users
Animocabrands, DWeb3, , SafeLaunch, ChainBoost, and
12 more
EARLY STAGE
$4.0M - Series A
Teller (2021, Singapore, $5.0M)
Provider of an online platform for astrology services
Lightspeed
EARLY STAGE
$4.0M - Series A
Mercular.com (2014, Bangkok, $7.0M)
Online retailer offering multi-category consumer
electronics
Central Retail
EARLY STAGE
$4.0M - Series A
Ulti Arena (2021, Singapore, $4.0M)
Online marketplace for NFT game assets
Panda Capital, Luna Capital
EARLY STAGE
$5.0M - Series A
MonoX Protocol (2021, Singapore, $5.0M)
Liquidity pooling solutions for cryptocurrencies
Krypital Group, , Divergence Ventures, LD Capital,
Youbi Capital, and 5 more

7
EARLY STAGE
$5.0M - Series A
Toku (2018, Singapore, $5.0M)
Cloud-based unified communication management
solution provider
DX Ventures, Tembusu Partners, NEPTUNE INVEST
EARLY STAGE
$5.8M - Series A
Merkle Science (2018, Singapore, $6.6M)
Predictive crypto risk and intelligence platform
Darrow Holdings, Fenbushi Capital, Kraken Ventures,
LuneX Ventures, Uncorrelated Ventures, and 1 more
EARLY STAGE
$6.0M - Series A
PolicyStreet (2016, Kuala Lumpur, $8.3M)
Online comparison platform for life and P&C
insurances
Altara Ventures, GOBI, Auspac, Spiral Ventures, KK
Fund
EARLY STAGE
$9.0M - Series A
Thuocsi (2018, Ho Chi Minh City, $12.0M)
Provider of marketplace for pharmacies
Smile Gate Investment, TSP Consulting, B Capital
Group, Nextrans, Cocoon Capital, and 2 more
EARLY STAGE
$10.0M - Series A
Neuroglee Therapeutics (2020, Singapore,
$12.3M)
Provider of AI-based therapy plans solution for
neurodegenerative diseases
Openspace Ventures, EDBI, Eisai, Kuldeep Singh Rajput,
Wendou Liu, and 1 more
EARLY STAGE
$10.0M - Series A
Ayoconnect (2016, Jakarta, $16.0M)
Open network billing API platform for businesses
Mandiri Capital Indonesia, Patamar Capital, Ilham
Akbar Habibie, Jeff Lin, Paul Bernard
EARLY STAGE
$10.6M - Series A
Mineski Global (2008, San Juan, $10.6M)
Esports league organizer
, Endeavor
EARLY STAGE
$11.5M - Series A
Dagangan (2008, West Jakarta, $11.5M)
Online distributor of multi-category products
Monk's Hill Ventures, K3 Ventures, Spiral Ventures,
EARLY STAGE
$12.0M - Series A
SCB Abacus (2017, Bangkok, $12.0M)
Lending-as-a-service platform
Openspace Ventures, Vertex Ventures, CAI Capital
Partners

8
EARLY STAGE
$16.0M - Series A
Segari (2020, Tangerang, $16.0M)
Online platform offering multi-category grocery
products
Gunung Sewu, SIG, Alfamart, Beenext, ACVentures
EARLY STAGE
$22.0M - Series A
Growthwell (1989, Singapore, $30.0M)
Developer of plant-based protein alternative
Creadev, DSG Consumer Partners, Temasek, , GGV
Capital
EARLY STAGE
$30.0M - Series A
OY! (2017, Jakarta, $75.0M)
App-based messaging and payment solutions for
businesses
SoftBank Ventures Asia, Wavemaker Partners, Central
Capital Ventura, Pavilion Capital Partners, MDI
Ventures, and 3 more
EARLY STAGE
$30.0M - Series B
Evermos (2018, Bandung, $38.3M)
Online reselling platform for multi-category products
UOB, Future Shape, Jungle Ventures, International
Finance Corporation, TMI, and 2 more
EARLY STAGE
$34.0M - Series A
Spenmo (2019, Singapore, $36.0M)
Cloud-based corporate cards and expense
management solutions
Insight Partners, Addition, Global Founders Capital,
Broadhaven Capital Partners, Commerce Ventures, and
10 more
EARLY STAGE
$35.0M - Series B
Pluang (2013, Jakarta, $58.0M)
App-based investment platform for gold, crypto, and
mutual funds
Square Peg, Openspace Ventures, GO - JEK, SIG, GO
Venture Capital, and 1 more
EARLY STAGE
$36.0M - Series B
SIRCLO (2013, Tangerang, $92.0M)
Platform offering e-commerce enabler solution for
online businesses
East Ventures, Saratoga Investama Sedaya, Traveloka,
Sinar Mas Land
EARLY STAGE
$45.0M - Series B
KiotViet (2013, Hanoi, $51.0M)
Cloud based ERP software solution for SMBs
KKR, Jungle Ventures

9
EARLY STAGE
$45.0M - Series B
Sunday (2017, Bangkok, $75.0M)
AI-based insurance platform for individuals &
businesses
Tencent, Vertex Growth, Z Venture Capital, SCB 10X,
Vertex Ventures, and 1 more
EARLY STAGE
$55.0M - Series B
SOCAR (2017, Kuala Lumpur, $73.0M)
App-based car rental platform
EastBridge Partners, Sime Darby
EARLY STAGE
$58.0M - Series B
Aspire (2015, Singapore, $99.5M)
Digital bank for businesses
DST Global, , B Capital Group, Fasanara, Hummingbird
Ventures, and 3 more
EARLY STAGE
$75.0M - Series B
ShopUp (2016, Dhaka, $110.0M)
Provider of software solutions to sell on online store
Valar Ventures, KDV Capital, Prosus, Flourish, Lonsdale
Capital Partners, and 3 more
EARLY STAGE
Series A
KitaBeli (2020, Jakarta, $10.0M)
App based platform offering group buying solution for
multi-category products
Banana Capital, Kopi kenangan
EARLY STAGE
Series B
Quincus (2014, Singapore)
Online platform for multi-channel carrier booking
UP.Partners, GGV Capital
EARLY STAGE
Series B
TADA (2012, Jakarta, $7.8M)
Cloud-based platform offering customer advocacy
solutions
Giftee
EARLY STAGE
Series B
PouchNATION (2012, Singapore, $4.5M)
Provider of NFC and RFID-based wearables for ticketing
and event management
Traveloka, Artesian, SOSV, Capital
SEED STAGE
$125.0K - Seed
Adra (2020, Singapore, $125.0K)
AI based radiology image analysis solutions for doctors
Y Combinator

10
SEED STAGE
$125.0K - Seed
Titipku (2017, Sleman, $125.0K)
supplies
Y Combinator
SEED STAGE
$125.0K - Seed
MindFi (2016, Singapore, $875.0K)
Mobile-based app for practising meditation
Y Combinator
SEED STAGE
$125.0K - Seed
Tablevibe (2020, Singapore, $125.0K)
Provider of feedback management solution for
restaurant businesses
Y Combinator
SEED STAGE
$125.0K - Seed
Pandai (2019, Kuala Lumpur, $125.0K)
Provider of learning application for school students
Y Combinator
SEED STAGE
$125.0K - Seed
Arrow (2020, Singapore, $125.0K)
Platform offering one-click checkout solution for
businesses
Y Combinator
SEED STAGE
$125.0K - Seed
HitPay (2016, Singapore, $125.0K)
Software-based solutions enabling small businesses for
sales and purchase
Y Combinator
SEED STAGE
$125.0K - Seed
Infina (2018, Singapore, $2.1M)
App-based saving and investment platform for
individuals
Y Combinator
SEED STAGE
$500.0K - Seed
Noodle Factory (2018, Singapore, $500.0K)
Provider of AI-based chatbot for learning purposes
EduSpaze, SuperCharger Ventures
SEED STAGE
$550.0K - Seed
Diversely (2020, Singapore, $750.0K)
AI-driven workplace monitoring platform provider
SEED STAGE
$630.0K - Seed
BuzzAR (2015, Singapore, $630.0K)
Provider of an AR-based app for retail and eCommerce
Choco Up

11
SEED STAGE
$700.0K - Seed
Asumsi (2015, Jakarta, $700.0K)
Online platform offering multi category news
East Ventures
SEED STAGE
$891.5K - Seed
Motorist (2015, Singapore, $891.5K)
Online used car listing platform & motorist community
Lim Der Shing, Royston Tay, Huang Shao-ning
SEED STAGE
$1.0M - Seed
Medigo (2019, Ho Chi Minh City, $1.0M)
Online platform for the purchase of medicines
Touchstone Partners
SEED STAGE
$1.0M - Seed
Rider Dome (2021, Singapore, $1.0M)
AI and cloud-enabled platform offering collision
avoidance solutions for motorcycles
SEED STAGE
$1.1M - Seed
Luwjistik (2021, Singapore, $1.1M)
Offers a web-based networking platform connecting
logistics partners
East Ventures, Global Founders Capital
SEED STAGE
$1.1M - Seed
Fonos (2019, Ho Chi Minh City, $1.1M)
App-based platform offering multi-genre audiobooks
Hustle Fund, iSeed, Thai Van Linh
SEED STAGE
$1.5M - Seed
Bluesheets (2019, Singapore, $1.5M)
Cloud-based bookkeeping management platform for
small businesses
Investible, Antler, 1982 Ventures, Kistefos, kipleX
SEED STAGE
$1.5M - Seed
Planet Sandbox (2021, , $1.5M)
Blockchain-based in-game virtual assets marketplace
using NFTs
Icetea, Exnetwork Capital, NGC, , , and 5 more
SEED STAGE
$1.5M - Seed
McEasy (2017, Surabaya, $1.5M)
Tech-enabled platform offering AI & web-based fleet
tracking and management solutions
East Ventures

12
SEED STAGE
$1.6M - Seed
T-Lab (2020, Singapore, $1.6M)
AI and app-based platform offering online tutoring
solutions for students
East Ventures, K3 Ventures, Blue Elephant Capital
Management, Plug and Play Tech Center
SEED STAGE
$1.7M - Seed
Heroverse (2021, Hanoi, $1.7M)
NFT-based puzzle game website
NFT, , Icetea, AU21 Capital, DAO Maker, and 1 more
SEED STAGE
$1.8M - Seed
Fundiin (2018, Ho Chi Minh City, $1.8M)
App-based platform for purchase financing
Genesia Ventures, JAFCO Asia, 1982 Ventures, Zone
Startups, Pham Le Nhat Quang
SEED STAGE
$2.1M - Seed
CLEVAI (2020, Singapore, $2.8M)
AI-based platform providing math-related learning
solutions
Altara Ventures, FJ Labs, FEBE Ventures
SEED STAGE
$2.5M - Seed
Dropezy (2019, Jakarta, $2.5M)
Subscription-based online retailer of daily essential
grocery products
Forge, Next Billion Ventures, Tekton Ventures,
Nordstar
SEED STAGE
$2.8M - Seed
Verihubs (2019, Jakarta, $2.9M)
AI-based KYC solutions for financial institutions
Insignia Ventures Partners, Central Capital Ventura,
Budi Handoko, Jefriyanto, Ricky Winata, and 3 more
SEED STAGE
$3.2M - Seed
Portcast (2017, Singapore, $3.2M)
AI & web-based analytics platform for cargo arrival
times
Newtown Partners, Wavemaker Partners, SGInnovate,
, Entrepreneur First, and 2 more
SEED STAGE
$3.3M - Seed
MoolahGo (2017, Singapore, $3.3M)
Online platform for P2P currency exchange and cross-
border money transfer
Lippogroup
SEED STAGE
$3.3M - Seed
Pasarnow (2019, Jakarta, $3.3M)
products
East Ventures, Skystar Capital, PT Prasetia Dwidharma,
Amand Ventures

13
SEED STAGE
$4.0M - Seed
Cabital (2020, Barcelona, $7.0M)
App-based savings platform for cryptocurrencies
SIG, Dragonfly Capital, GSR Ventures
SEED STAGE
$20.0M - Seed
Rainforest (2020, Singapore, $56.5M)
Platform acquiring Amazon FBA brands
Monk's Hill Ventures, Crossbeam, Amasia, Nordstar,
The Lo & Behold Group, and 2 more
SEED STAGE
Seed
Project SEED (2020, Jakarta)
NFT-based mobile game website
SEED STAGE
Seed
Noice (2018, )
Online radio and podcast streaming platform
Alpha JWC Ventures, Kinesys Group
SEED STAGE
Seed
Global Care (, Ho Chi Minh City)
Online comparison platform for life and non-life
insurances
VinaCapital
SEED STAGE
Seed
BtrLyf (2017, Singapore)
Provider of an AI and cloud-based digital twin platform
for construction professionals
SoftTech Engineers
SEED STAGE
Seed
Dutycast (2020, Ho Chi Minh City)
Online platform offering browser extension for
automated checkout
VinaCapital
SEED STAGE
Seed
Friz (2020, Singapore, $1.5M)
Online platform providing credit lines to freelancers
Amand Ventures, Funding Societies, Iterative
Accelerator, Y Combinator
SEED STAGE
Seed
ethiXbase (2011, Singapore)
Cloud based platform for third party risk and
compliance management platform provider
CGE Partners
SEED STAGE
Seed
Rey (2021, Jakarta)
App & cloud-based life and health insurance
comparison platform for individuals and businesses
Trans-Pacific Technology Fund

14
SEED STAGE
Seed
VIDA (2018, Jakarta)
Provider of secure identity management and
authentication solutions provider
Jungle Ventures, Alpha JWC Ventures, Monk's Hill
Ventures
SEED STAGE
Seed
Digital Media Nusantara (2016, Kuala Lumpur)
Online digital media network company
Malaysia Debt Ventures Berhad
SEED STAGE
Seed
DeZy (2021, Singapore)
Decentralized saving platform for individuals
DeFiance Capital, Impiro, HY Sia
SEED STAGE
Seed
PINA (2021, Jakarta)
App-based financial management and savings platform
for individuals
Oberyn Capital, iSeed, PT Prasetia Dwidharma, 1982
Ventures
SEED STAGE
Seed
Olrange (2013, Jakarta)
Provider of content development, advertising, and
SMM services
FCN Network
SEED STAGE
Seed
Sirka (2021, Jakarta)
Provider of personalized expert-led nutrition coaching
solutions
Sequoia Capital, Y Combinator, Tim Lee

New Investors (1/2)
List of New Investors in SEA Tech in September 2021
SEA Tech: List of New Investors
15
Investor Company Info Round Amount Round Name
SkyVision
1 portfolio companies | IP connectivity services provider
BCMH
Provider of NFT-based blockchain gaming platform for the users
$3.80M Series A
NEPTUNE INVEST
1 portfolio companies | Private equity firm focused on multiple sectors
Toku
Cloud-based unified communication management solution provider
$5.00M Series A
exactacapital.com
1 portfolio companies |
Mineski Global
$10.60M Series A
Uncorrelated Ventures
33 portfolio companies | Venture capital focused on infrastructure software
companies
Merkle Science
Predictive crypto risk and intelligence platform
$5.75M Series A
Kistefos
6 portfolio companies | Private equity firm
Bluesheets
Cloud-based bookkeeping management platform for small businesses
$1.50M Seed
Sime Darby
2 portfolio companies | Malaysian trading conglomerate
SOCAR
$55.00M Series B
SAGANA
1 portfolio companies | Diversified investment management firm
Homage
$30.00M Series C
Capital
8 portfolio companies | VC firm investing in FinTech startups
PouchNATION
Provider of NFC and RFID-based wearables for ticketing and event
management
Undisclosed Series B
Sheares Healthcare
1 portfolio companies | Sheares Healthcare
Homage
$30.00M Series C
axia8.com
3 portfolio companies |
MonoX Protocol
$5.00M Series A

New Investors (2/2)
List of New Investors in SEA Tech in September 2021
SEA Tech: List of New Investors
16
Investor Company Info Round Amount Round Name
V VENTURES
1 portfolio companies | Venture capital and accelerator focused on life science,
technology, and urbanization sectors
Zipmex
Exchange platform for cryptocurrencies
$41.00M Series B
Delta
1 portfolio companies | Cryptocurrency portfolio tracking app
BCMH
Provider of NFT-based blockchain gaming platform for the users
$3.80M Series A
Luna Capital
1 portfolio companies | Cryto investment fund
Ulti Arena
$4.00M Series A
Systems Limited
2 portfolio companies | Enabling a digital tomorrow | Systems Limited
Salesflo
Provider of multi category solutions for offline businesses
$3.00M Seed
P Crypto
1 portfolio companies | OP CRYPTO Venture Capital
MonoX Protocol
$5.00M Series A
Touchstone Partners
1 portfolio companies | – Touchstone Partners – High-impact legal services in
Corporate/ M&A, Private Equity, Venture Capital, Structured Finance, Fund
Formation, and Competition/ Antitrust.
Medigo
Online platform for the purchase of medicines
$1.00M Seed
FJ Labs
433 portfolio companies | Tech focused stage agnostic VC firm investing globally
CLEVAI
AI-based platform providing math-related learning solutions
$2.10M Seed
Saratoga Investama Sedaya
3 portfolio companies | PE firm investing in Indonesia
SIRCLO
Platform offering e-commerce enabler solution for online businesses
$36.00M Series B
DG Daiwa Ventures
13 portfolio companies | Blockchain, AI and other technology focused
investment firm
Homage
$30.00M Series C
Blue Elephant Capital Management
2 portfolio companies | Private debt firm providing senior debt and direct loans
T-Lab
AI and app-based platform offering online tutoring solutions for
students
$1.60M Seed

Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
17
Rank Business Model $ Funding # Rounds Top Funding Round
1 <> 0 B2C Hyperlocal Delivery $1.1B 7 Grab | $375M | Series H
2 ▲4 Multi Products Marketplaces $1.0B 6 Tokopedia | $350M | Series H
3 ▼-1 Digital Wallets $877M 14 Grab | $375M | Series H
4 ▲1 Card Linked Digital Wallets $850M 4 Grab | $375M | Series H
5 ▼-1 Car Ride Hailing $692M 5 Grab | $375M | Series H
6 -- Online Professional Learning Courses $650M 2 EMERITUS | $650M | Series E
7 -- In-Store Retail Analytics $640M 1 Trax | $640M | Series E
8 -- CPG Brands Analytics $640M 1 Trax | $640M | Series E
9 ▲15 Business Payments Solutions $467M 5 VNPAY | $250M | Series B
10 ▼-7 Two Wheeler Ride Hailing $450M 2 Gojek | $300M | Series H

New Analyst Picks (1/6)
Interesting Companies identified by Analysts in SEA Tech in September 2021
SEA Tech: Analyst Picks
18
Upgraded to UNICORN
Xendit (2015, Jakarta, $64.6M, Series B)
Online payment and money transfer solution for
businesses
Kickstart Ventures, East Ventures, Accel and 17 other
Investors
Upgraded to UNICORN
Carousell (2013, Singapore, $80.0M, Series D)
Online community marketplace offering multi-category
used products
DBS Bank, Golden Gate Ventures, Rakuten and 16
other Investors
Upgraded to UNICORN
Carsome (2015, Petaling Jaya, $2.0M, Series A)
Online C2B marketplace for used cars
Mavcap, Joe Hirao, GOBI and 22 other Investors
Upgraded to UNICORN
Ascend Money (2013, Bangkok, $150M, Series C)
Financial services platform for individuals
Bow Wave Capital Management,Ant Financial,Charoen
Pokphand Groupand
Upgraded to SOONICORN
KiotViet (2013, Hanoi, $6.0M, Series A)
Cloud based ERP software solution for SMBs
Jungle Ventures, KKR, Seedcom and 2 other Investors
SOCAR (2017, Kuala Lumpur, $18.0M, Series A)
Sime Darby, Eugene, EastBridge Partners and 1 other
Investors
Sunday (2017, Bangkok, $10.0M, Series A)
AI-based insurance platform for individuals &
businesses
Vertex Growth, Z Venture Capital, LINE Ventures and 4
other Investors
Upgraded to MINICORN
Cabital (2020, Barcelona, $3.0M, Angel)
App-based savings platform for cryptocurrencies
Dragonfly Capital,GSR Ventures,SIGand
Quincus (2014, Singapore, Undisclosed, Series A)
Online platform for multi-channel carrier booking
Investigate, Michael Robert Blakey, Aletra Capital
Partners and 5 other Investors
Mineski Global (2008, San Juan, $10.6M, Series A)
,Endeavorand
MonoX Protocol (2021, Singapore, $5.0M, Series A)
Genblock, P Crypto, and 7 other Investors

19
Ulti Arena (2021, Singapore, $4.0M, Series A)
Panda Capital,Luna Capitaland
iVideoSmart (2016, Singapore, $3.2M, Series A)
AI and cloud-based video publishing and monetization
platform
Kickstart Ventures, Vulpes Invest, Tin Men and 1 other
Investors
Teller (2021, Singapore, $4.0M, Series A)
Provider of an online platform for astrology services
Lightspeedand
Added to Editor's Pick
Agate (2009, Bandung, $1.0M, Seed)
Indonesian game peveloper
GDP Venture,Maloekoe Venturesand
BCA Finance (2005, Jakarta, Unfunded)
App-based platform for auto loans
BetterTradeOff (2015, Singapore, $1.5M, Angel)
Practise management solutions for financial planners
Roy Armale, Sylvain Bernard, Pauline Chong and 15
other Investors
Go2Joy (2016, Ho Chi Minh City, $2.5M, Series A)
App-based platform for booking hotels at hourly rates
HB Investment, KB Investment, SV Investment and 4
other Investors
Portcast (2017, Singapore, Undisclosed, Seed)
AI & web-based analytics platform for cargo arrival
times
Innoport, TMV, August One and 8 other Investors
MoolahGo (2017, Singapore, Undisclosed, Seed)
Online platform for P2P currency exchange and cross-
border money transfer
Kristi- Ann Ong, Lippogroup, Cheo Chai Hong and 2
other Investors
OnJuno (2020, Singapore, $3.0M, Seed)
Digital bank for individuals
Loi Luu, Surge, Balaji S Srinivasan and 15 other
Investors
Web2ship (2007, Petaling Jaya, $72.0K, Seed)
Provider of multi-carrier shipping solutions
Global Accelerator Academy, Accelerating Asia,
Chinaccelerator and 3 other Investors

20
Fundiin (2018, Ho Chi Minh City, Undisclosed, Seed)
App-based platform for purchase financing
Zone Startups, JAFCO Asia, Pham Le Nhat Quang and 2
other Investors
Pendanaan (2016, Jakarta, $1.0M, Series A)
Platform for short term mobile-based loans
Legend Capitaland
Drivehub (2017, Bangkok, $1.0M, Seed)
Online car rental aggregator
Toyota Tsusho,KK Fund,CAC CAPITALand
Tokoin (2018, Jakarta, Unfunded)
Blockchain-based bookkeeping solutions for micro,
small & medium businesses
Block Crafters Capitaland
Torus (2018, Singapore, $2.0M, Seed)
Security solutions for DApps
Multicoin Capital, Horizon Investments, Accomplice
and 5 other Investors
Rainforest (2020, Singapore, $6.5M, Seed)
Platform acquiring Amazon FBA brands
Insignia Ventures Partners, Crossbeam, Monk's Hill
Ventures and 4 other Investors
Jendela360 (2016, Jakarta, $1.0M, Seed)
Online marketplace to discover residential properties
PT Prasetia Dwidharma,EverHaus,Beenextand
PT Prosa Solusi Cerdas (2018, Bandung,
Undisclosed, Seed)
Customized natural language processing tools
developer
GDP Venture,Kaskusand
CapCut (2020, Singapore, Unfunded)
App-based platform for the creation of videos with
music
T-Lab (2020, Singapore, $1.6M, Seed)
AI and app-based platform offering online tutoring
solutions for students
East Ventures, Plug and Play Tech Center, Blue
Elephant Capital Management and 1 other Investors
Kredito (2016, Jakarta, Unfunded)
Online platform for consumer and business loans
Noodle Factory (2018, Singapore, $500K, Seed)
Provider of AI-based chatbot for learning purposes
EduSpaze,SuperCharger Venturesand

21
Yottaasys (2014, Singapore, Undisclosed, Angel)
AI-based predictive maintenance application for the
manufacturing industry
TheNoor (2020, Kuala Lumpur, Unfunded)
App-based platform for Islamic prayer tracking
EGG Digital (2009, Bangkok, Unfunded)
Cloud based platform offering software for SMS
marketing
Ascendand
RockX (2019, Singapore, Unfunded)
Staking solutions for cryptocurrencies
Tinai (2021, Singapore, $125K, Seed)
Provider of sales management application for offline
stores
Y Combinatorand
Hotdeal (2010, Ho Chi Minh City, Undisclosed, Series
B)
Online platform offering multi-category deals
Transcosmosand
SCOOTA (2018, Bangkok, $5.7M, Angel)
App-based electric kick scooter rental platform
Sir John Hegarty, Michael Greenlees, Alpha Founders
Capital and 1 other Investors
McEasy (2017, Surabaya, $1.5M, Seed)
Tech-enabled platform offering AI & web-based fleet
tracking and management solutions
East Venturesand
LINE Bank (2021, Jakarta, Unfunded)
Digital bank for individuals
Happihub (2018, Singapore, Unfunded)
App-based platform offering cashback and reward for
multi-category products
FairAngelsand
Rocket Academy (2020, Singapore, $1.1M, Seed)
SaaS-based platform providing coding-related learning
solutions
Hustle Fund, Taurus Ventures, Darius Cheung and 3
other Investors
Augmentus (2019, Singapore, Undisclosed, Seed)
Provider of a platform for no-code robot programming
StartupX,Cocoon Capitaland

22
Prospeku (2019, Menteng, Undisclosed, Seed)
Provides app for managing and marketing properties
OCBC NISP Venturaand
Edulive (2018, Hanoi, Unfunded)
Provider of online content management system for
teachers and schools
Rejeki Rakyat (2020, West Jakarta, Unfunded)
App-based comparison platform for consumer and
business loans
AIOZ Network (2018, Singapore, Unfunded)
Blockchain-based content delivery network for building
dApps
Vendetta Capital,3Apes Capitaland
Hand Plus Robotics (2018, Singapore, Undisclosed,
Grant (prize money))
Provider of robot-pickers enabling warehouse
automation
NTUitiveand
SunGreenH2 (2020, Singapore, Unfunded)
Provider of solutions for hydrogen generation
she1Kand
English Academy (2020, Jakarta, Unfunded)
Online platform providing language proficiency exam
preparation solutions
25 Holdings (2015, Singapore, Unfunded)
Online retailer offering multi-category pet care
products
Keio Innovation Initiativeand
Smart Dentist (2020, Kuala Lumpur, Unfunded)
Digital medical e-learning tool for professionals
barbequekfrychicken.site (2021, Unfunded)
Online platform offering forest tree plantation
solutions
Infinite Technology (2020, Singapore, Unfunded)
Provider of AI based telemarketing voice operator for
automating customer service
Cyberconverse (2020, Singapore, Unfunded)
Cloud based platform offering cybersecurity training

23
Kinh Thánh Công Giáo (2021, Hanoi, Unfunded)
Provider of an app-based platform to study the Bible
ShipVN (2021, Hanoi, Unfunded)
Offers an app-based marketplace connecting shippers
& sellers providing B2B delivery services
Do-Survey (2020, Cikarang, Unfunded)
Provider of survey building platform
Fcash Global Lending (, Quezon City, Unfunded)
Online platform for personal loans
EyeFleet (2016, Bangkok, Unfunded)
Provider of a suite of cloud-based vehicle security
systems
Free Bee Calls (2017, Makati, Unfunded)
App-based platform for messaging and calling
PHX Smart School (2021, Hanoi, Unfunded)
Provider of AI-based online platform for school
management
Workplace Plus (2021, Bangkok, Unfunded)
Hybrid workplace platform
Sintellisys (2018, Singapore, Unfunded)
Provider of computer vision, IoT, and neural network
solutions for enterprises
Bureau (2019, Jakarta, Unfunded)
Provider of a secured platform for mobile transactions

Acquisitions
List of Acquisitions in SEA Tech in September 2021
SEA Tech: Acquisitions
24
Acq. Date Company Acquirer Deal Size
30 Sep 2021
ZAPtag(2012, Manila, $1.4M)
Cashback based coalition loyalty program
True Digital Group $4.8M

Recent News (1/2)
Recent News in SEA Tech in September 2021
SEA Tech:News
25
Exit News
.
● Arrow Business Communications Limited announces the acquisition of AIMES
Management Services Ltd. ResponseSource
.
● Traveloka said to have halted talks with Richard Li-backed Spac for US listing
The Straits Times
.
● Ecommerce firm Blibli to acquire Ranch Market operator in Indonesia Tech in Asia
.
● New startup founded by Temasek acquires Singapore AI firm Tech in Asia
.
● Capillary Technologies Ramps up Loyalty Game with Acquisition of Persuade
Business Wire
.
● CCV Portfolio Lomotif, One of the Top Worldwide Social Video-Sharing Apps,
Completes Acquisition by ZVV Media PR Newswire
.
● Nium Completes Acquisition Of Payments Optimisation Leader, Ixaris Financial IT
.
People News
.
● Thunes Makes Key Hires to Drive Global Expansion Plans FinTechnews
.
● Singapore foodtech firm Next Gen appoints ex-Tesla exec to board Tech in Asia
.
● Neuromod appoints Eric Timm as US Chief Executive Officer PR Newswire
.
● Nanofilm to appoint new CEO by end-2021, says founder Shi Xu The Straits Times
.
● Digital Marketing Startup Aqilliz appoints Rajeev Dhal as Global CBO Adgully
.
Company News
.
● Another Eisai, Biogen Alzheimer’s drug is filed for speedy FDA review MedCity
News
.
● Digital Wealth Management Platform StashAway Expands Business Operations
into ThailandCrowdfund Insider
.
● Hummingbird Bioscience Announces US FDA Clearance of IND for First-in-
Human Phase 1 Trial of HMBD-002 in Patie... pipelinereview.com

Explore more on Tracxn
Explore more about SEA Tech on Tracxn Platform
SEA Tech: Explore more on Tracxn Platform
26
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