These Asian tech startups have been raking up millions in investments during the pandemic

Economic statistics cannot keep up with the rate at which people are losing jobs all over the world as a result of the COVID-19 pandemic. The tech industry has been no different, as we have seen mass layoffs, especially in companies whose operations have been severely curtailed by lockdown measures, such as ride-hailing applications.

However, it is not entirely gloomy for all. In addition to the inevitable e-commerce success stories of the pandemic, many tech startups in Asia have continued to receive venture capital over the past few months.

Here are some of the most significant investments made in South and Southeast Asia-based tech startups since April.

Food delivery and e-commerce

๐Ÿ‡ฎ๐Ÿ‡ณ Indian food delivery startup Swiggy bagged $43 million to expand business; ๐Ÿ‡ฎ๐Ÿ‡ณ Indian grocery startup BigBasket raised $60 million to scale up business in the country; ๐Ÿ‡ป๐Ÿ‡ณ Vietnamese e-commerce enabler OnPoint raised $8 million to invest in strategic technology, recruit talent, and provide better services; ๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesian B2B e-marketplace GudangAda raised $25.4 million to expand business; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based omnichannel retailer IUIGA Technologies bagged $7 million to fuel Southeast Asia expansion; ๐Ÿ‡ต๐Ÿ‡ญ Philippine home services e-commerce platform GoodWork raised $1.6 million to expand operations across Southeast Asia

Payments

๐Ÿ‡ฎ๐Ÿ‡ณ Indian digital payments startup Seru raised $15 million to expand business; ๐Ÿ‡น๐Ÿ‡ญ Thai digital payments startup Digio banked $4 million to accelerate product development

Lending

๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesian P2P lending firm Investree raised $23.5 million to accelerate business in Indonesia, Thailand, and the Philippines; ๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesian P2P lending company KoinWorks secured $20 million to support lenders and borrowers during the pandemic; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based SME lending platform Validus secured $14 million to develop the firmโ€™s technology stack 

Insurance

๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based insurance-tech startup Igloo raised $8.2 million to broaden its business into Australia and five Southeast Asian markets; ๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesian insurance tech startup Qoala raised $13.5 million to invest in tech, human resources, and branding; ๐Ÿ‡ฒ๐Ÿ‡พ Malaysian insurtech startup PolicyStreet banked $1.8 million in series A funding 

Other fintech

๐Ÿ‡ต๐Ÿ‡ญ Philippine financial services firm Voyager Innovations secured up to $120 million to expand services; Hong Kong-based fintech startup Oriente raised $50 million to expand its presence in Southeast Asia; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based fintech firm Helicap secured $10 million to upgrade its credit-scoring technology and pursue opportunities in Singaporeโ€™s private debt sector; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based foreign-exchange platform Spark Systems raised $16.5 million to enhance in-house tech capabilities and deepen expertise; ๐Ÿ‡ฎ๐Ÿ‡ณ Indian financial management startup Khatabook raised $60 million for expansion in the country; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based financial services platform GoBear raised $17 million to speed up development

Education

๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based data-driven corporate learning app Tigerhall raised $2 million for its scale-up program; ๐Ÿ‡ฎ๐Ÿ‡ณ Indian edtech platform Classplus bagged $9 million in series A funding

Health

๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based healthcare company Doctor Anywhere secured $27 million to boost market leadership; ๐Ÿ‡ฒ๐Ÿ‡พ Malaysian digital health app Naluri banked $1.1 million to build up its business; ๐Ÿ‡ป๐Ÿ‡ณ Vietnamese healthtech startup BuyMed raised $2.5 million; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based cancer antibody developer Hummingbird Bioscience raised $25 million to support clinical development; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based healthtech startup Holmusk raised $21.5 million in series A funding; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based cancer diagnostics company Endofonotics raised $8.5 million to drive commercialisation of its cancer detection system

Agritech

๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesian agritech startup TaniHub Group raised $17 million to expand its services to up to 100,000 farmers by 2021; ๐Ÿ‡ฎ๐Ÿ‡ณ Indian agritech startup DeHaat raised $12 million to reach more farmers in the country; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based plant-based meat and seafood alternative manufacturer Growthwell raised $8 million to accelerate product development; ๐Ÿ‡ฎ๐Ÿ‡ณ Indian agritech startup Intello Labs raised $5.9 million to accelerate growth in international markets

Logistics

๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesian online freight marketplace Kargo secured $31 million in funding to expand operations; ๐Ÿ‡ฎ๐Ÿ‡ณ Indian logistics startup FarEye raised $25 million to expand abroad; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based logistics startup Moovaz raised $7 million to tap into Asian markets; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based logistics startup Ninja Van secured $279 million to scale up operations in six Southeast Asian countries; ๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesian fast-moving consumer goods platform GudangAda secured $25.4 million in series A funding; ๐Ÿ‡ฎ๐Ÿ‡ณ Indian logistics aggregator Shiprocket raised $13 million to expand overseas

AI

๐Ÿ‡ฎ๐Ÿ‡ณ Indian AI chatbot startup Yellow Messenger raised $20 million to expand business; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based AI-based data protection and privacy solutions company Dathena raised $12 million in series A funding

Content

๐Ÿ‡ต๐Ÿ‡ญ Philippine live streaming app Kumu raised nearly $5 million to expand business; ๐Ÿ‡ฎ๐Ÿ‡ณ Indian news and local language content platform Dailyhunt raised $23.5 million 

Accommodation

๐Ÿ‡ฎ๐Ÿ‡ณ Indian broker-avoiding startup NoBroker raised $30 million to expand business; ๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesian accommodation startup Bobox secured $11.5 million to accelerate product improvement and expansion

Travel/transport

๐Ÿ‡ฎ๐Ÿ‡ณ Indian business travel SaaS company ITILITE raised $13 million; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based e-scooter startup Beam raised $26 million to expand into South Korea, Taiwan, Malaysia, Australia, and New Zealand

Other

๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based cleantech startup SensorFlow raised $8.3 million in funding to develop its smart building management solution; ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore-based quantum computer software solutions startup Entropica Labs raised $1.8 million in seed funding; ๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesian data management startup Delman raised $1.6 million in seed funding

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