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Ayoconnect’s share buyback, ImmunoScape & UNOAsia’s funding, and more

Jakarta-based open finance startup Ayoconnect allotted ordinary and preference shares worth $15 million to SIG Venture Capital, PayU and CE Innovation Capital last week.

The allotment is linked to a $13 million Series B extension announced last week. Earlier this year, Ayoconnect had closed a $15-million Series B round led by New York-based investment firm Tiger Global Management.

The company plans to use the proceeds to launch new products and begin its regional expansion. It will also use the capital to buy back shares from some of its investors as well as co-founders Jakob Rost and Chiragh Kirpalani, according to a separate regulatory filing. It will spend nearly $4.35 million on the buyback, with a majority of proceeds set to go to Finch Capital ($2 million) and Tokyo-listed Kakaku.com, Inc. ($1.6 million).

The buyback provides an exit to Kakaku, which had invested $1 million in the company in 2019.

Top shareholders in Ayoconnect

Source: DATA VANTAGE

ImmunoScape, a Singapore-based biotech firm that helps researchers develop cancer treatments, allotted preference shares worth $14.4 million last week to investors, including Anzu Partners and Singapore’s EDBI, as part of a Series B round.

The round comprises fresh equity funding of $14 million and allotment of Series B2-B preference shares upon conversion of promissory notes issued in 2021. Noteholders that have received these shares so far include Indonesia-based NPR Holdings.

The pre-clinical biotech company claims its proprietary combinatorial barcoding technology can enable the discovery and in-depth characterisation of rare cancer-specific T-cells at high resolution.

ImmunoScape, which was spun out of Singapore’s Agency for Science, Technology, and Research (A*Star), recently reported a 26.3% dip in its revenue for the financial year ended December 31, 2021. Its losses jumped 84% during the period.

Other updates from DATA VANTAGE

Velox Digital Singapore, the Singapore entity of Indonesia’s Gojek, received $18 million from parent Velox South-East Asia Holdings last week. The entity has thus far received $307.6 million in capital injection.

UNOAsia, the Singapore-based incorporator of UNO Digital Bank in the Philippines, received $8.56 million last week from private equity firm Creador and other investors. According to a regulatory filing, it has upsized its pre-Series A round after securing additional funding.

ConnectedLife Health, a Singapore-based healthtech firm, received $2.6 million last week from Navig8 Group, Raymond Eyles, Andrew Leigh Case, Mikael Skov and other investors. The company’s share price is up nearly 1.5 times from its previous financing earlier this year.

Flash Coffee, a Southeast Asian grab-and-go coffee chain, has raised an additional $5.13 million in Series B funding from Citadel International Holdings and Vulpes Ventures. Earlier in June, the firm had raised $32.8 million in a Series B1 round from investors, including White Star Capital, Conny & Co, and Delivery Hero-backed DX Ventures.

Indonesian waste management startup Waste4Change received $4.4 million last week from AC Ventures, PT Barito Mitra Investama, Urban Gateway Fund, SMDV and other investors as part of its $5 million Series A round.

The Parentinc witnessed some shares change hands last week as ATM Capital pared its stake in the firm via a secondary sale to Thailand’s Central Retail.

NirogStreet, a platform that strives to make Ayurveda the first line of treatment for people in India, received $307,000 last week from ICMG Co-Creation Fund and SMBC Asia Pacific co-head Rajeev Kannan. The transactions are part of a $6.8 million funding round led by Singapore-based venture capitalist Jungle Ventures.

Indonesian cold chain logistics startup Superkul raised $600,000 in seed funding from East Ventures and Waresix. It had announced the round in August without disclosing the quantum of funding raised. The startup also allotted ordinary shares worth $145.35k to its co-founders under a convertible loan agreement.

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