Category: Portfolio company

Covid-19 turmoil creates fresh openings for new startups

“THE economic downturn can in fact be an opportunity for entrepreneurs to launch new ventures, startup veterans and investors tell The Business Times. While funding may be tougher to secure, new startups can capitalise on permanent disruptions created by Covid-19.”


Hevo raises US$8m Series A to accelerate its global expansion

“The company announced today that it has raised an $8 million Series A round led by Singapore-based venture capital firm Qualgro and Lachy Groom, a former executive at payments company Stripe. The round, which brings Hevo’s total raised so far to $12 million, also included participation from returning investors Chiratae Ventures and Sequoia Capital India’s early-stage startup program Surge.”


EngageRocket raises funding round led by Qualgro to drive regional expansion

“FRESH from raising S$3 million in a Series A round, human-resources (HR) tech startup EngageRocket is expanding in Indonesia and eyeing Thailand, Malaysia and The Philippines as potential markets, its co-founder and chief executive Leong Chee Tung told The Business Times.”

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Brighte raises AU $15.5m, including Qualgro as a new investor

“Fintech Brighte has secured $15.5 million in Series C funding, as it prepares to make a move into Australia’s home improvement sector.”

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Ralali secures $13m in series C round

“Indonesian business-to-business marketplace Ralali raised US$13 million in a series C funding round…”

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US cloud provider 8×8 buys Singapore-based Wavecell in US$125m deal to expand into SE Asia

“Wavecell, a privately held communications platform-as-a-service (CPaaS) provider based in Singapore, has been acquired by New York-listed 8×8 for around US$125 million (S$170 million) in cash and stock, marking the US firm’s entry into the South-east Asian market.”

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Qualgro leads $11.2m round for French robotics startup

“Singapore-based venture capital firm Qualgro led a roughly US$11.2 million series A funding round for Pazzi, a brand and development company spun out of the French robotics and foodtech startup Ekim.”

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ShopBack has closed a $45 million round led by Rakuten Capital and EV Growth, with Qualgro and others

“ShopBack, a Singapore-based startup that offers cashback and consumer rewards in Asia Pacific, has closed a $45 million round led by new investors Rakuten Capital and EV Growth.

Founded in 2014, the startup had been relatively under-the-radar until late 2017, when it announced a $25 million investment that funded expansion into Australia, among other things. Now, it is doubling down with this deal, which sees participation from another new backer, EDBI, the corporate investment arm of Singapore’s Economic Development Board. ShopBack has now raised close to $85 million from investors, which also include Credit Saison Blue Sky, AppWorks, SoftBank Ventures Korea, Singtel Innov8 and Qualgro.”

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PatSnap secures $38 million in Series D funding led by Sequoia and Shunwei, with Qualgro

“PatSnap, the world’s leading provider of research and development (R&D) analytics, has today closed its Series D investment round led by Sequoia Capital and Shunwei Capital, with participation from Qualgro, The company closed US$38 million from the three investors, taking PatSnap’s total funding to date to over US$100 million.”

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Singapore video creation platform snags $20m from Sequoia, Qualgro, and more

“Singapore-based video creation platform 90 Seconds has raised US$20 million in a series B funding round from a range of investors including SIG, Airtree Ventures, Sequoia India, Qualgro Venture Capital, Atami Capital, and Right Click Capital.”

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