Investments highlighted: Paywatch acquires USD 30 million, Ai Palette gets additional funding, Blibli operator buys home decor startup Dekoruma, and several other noteworthy transactions

Tech Funding Round-Up: A Look at the Latest Investments in Southeast Asia and Beyond

In the world of tech startups, funding rounds are a crucial step towards growth and expansion. Here's a round-up of some recent investments in various industries across Southeast Asia and beyond.

Malaysia

Homa2u, a platform for overstocked renovation and interior design materials, secured an additional USD 625,000 in its pre-Series A funding round from Asia Fund X (AFX).

Okapi Technologies, a fintech startup in the solar financing space, closed its funding round and launched in Malaysia, focusing on the residential solar vertical. The details about the specific person or group involved in the financing rounds, including angel investors like Lai Chang Wen and Shaun Chong, are not available.

Singapore

Ai Palette, a Singapore-based tech startup, secured USD 1.45 million in Series A1 funding from InnoVen Capital. The platform uses advanced AI technologies to help CPG companies track trends, predict market changes, and adapt quickly.

Robo Co-op, a social enterprise focused on empowering refugees through digital learning, received a USD 700,000 investment from Ritsumeikan University's Social Impact Fund (RSIF).

Virtual IT Group (VITG), an Australian IT services provider, signed a definitive agreement to secure investment from global mid-market private equity firm The Riverside Company. No financial details were disclosed.

India

Zepto, an Indian quick commerce platform, raised USD 665 million in an investment round, increasing its valuation to USD 3.6 billion. The investment round was participated by Avenir Growth Capital, Lightspeed Venture Partners, and Avra Capital. Zepto plans to use the funds to double its dark stores to over 700 by March 2025.

China

TalentSec, a Shanghai-based cybersecurity firm, raised tens of millions of RMB in a Series A funding round. The Series A funding round was led by Eminence Ventures, with participation from existing investor Shunwei Capital.

Southeast Asia

Paywatch, an earned wage access (EWA) service provider, secured USD 30 million in funding from equity and credit facilities. The funding round is the largest for an EWA player in Southeast Asia. Paywatch received over USD 14 million in Series A funding, co-led by Third Prime and US investors. Octagon Venture Partners and Wooshin Venture Investment are new investors in Paywatch. Paywatch also secured USD 16 million in credit facilities from global banks, including Citi.

Indonesia

PT Global Digital Niaga, which operates Blibli, Tiket.com, and Ranch Market, acquired a 99.83% stake in home decor startup Dekoruma for IDR 1.16 trillion.

Tech Companies Secure Undisclosed Funding

Tengyu Technology, a real-time interactive cloud service provider, raised an undisclosed amount in a Series B funding round. The Series B funding round for Tengyu Technology was jointly led by Sealand Innovation and Fosun RZ Capital.

Metis Pharmaceuticals, a biotechnology company, raised USD 100 million in a Series C funding round. The Series C funding round for Metis Pharmaceuticals was led by CICC Capital, with participation from the Taiping HK I&T Fund under China Taiping Insurance Holdings.

As these funding rounds demonstrate, the tech industry in Southeast Asia and beyond continues to attract significant investment, driving innovation and growth in various sectors. Stay tuned for more updates on the latest investments in the tech world.