DEAL FUEL BY ROCKET EQUITIES — March 2022

Arushi Chauhan

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Rocket Equities

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5 min readApr 12, 2022

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**COMPANIES IN SOUTHEAST ASIA RAISED OVER US $1.524 Billion* IN MARCH 2022**

Fundraising across Sectors for SEA counties, Source — Rocket Equities

March 2022 Highlights

Indonesia received the highest amount of funding in SEA
61% (US$ 936.33M) out of the total funds raised in SEA were by companies in Indonesia
40% of total funds raised were tagged from Non-core or Other Sectors
Fintech & Financial Services along with E-commerce remain to be popular sectors in SEA***

Top Deals

Star Energy (US$ 440M, Energy, ID)
Sayur Box (US$ 120M, E-commerce/Agritech, ID)

Fundraising Summary by Sectors & Countries

A summary of all the fundraising activity and top deals from SEA landscape for Feb 2022, VIMPTS (Vietnam, Indonesia, Malaysia, Philippines, Thailand, and Singapore)

FINTECH & FINANCIAL SERVICES HAS EMERGED AS THE TOP FUNDED SECTOR IN MARCH 2022 FUNDED SECTOR IN MARCH 2022

Edtech and Healthtech are sectors to watch out for as both these industries are thriving in Singapore and growing rapidly in Vietnam & Philippines.

Source: News reports from Dealstreet Asia, Tech in Asia, and other media reports. *Other Sectors include — Foodtech, Mobility, Sustainable Energy, Power, and Agritech

INDONESIA EMERGED AS THE MOST POPULAR DESTINATION FOR TECH INVESTORS IN SEA

Singapore recorded the most number of transactions in the region, but both Vietnam with a total of 7 deals (US$ 55.6M) and Philippines 3 deals (US$ 90.6M are continually gaining investor confidence.

NOTABLE DEALS SEA MARCH 2022

Dana (US$ 225M, Digital Wallet, ID)
Growsari (US$ 77.5M, E-commerce, PH)
AI Rudder (US$ 50M, AI, SG)

Total funds Raised in US$ million (in blue) and the number of deals in SEA for March 2022 (in red)

DEAL HIGHLIGHTS

A list of the key acquisitions and some notable transactions from Southeast Asia. Source: News reports from Dealstreet Asia, Tech in Asia, and other media reports.

E-commerce remains to be the most popular sector among all SEA countries

A total of US$ 274.30M was raised by companies and all the SEA countries (VIMPTS) reported transactions in this sector

Energy and Telecom sectors are big ticket investments Participation via acquisitions is widely preferred

Top Deals include:

Custom Food Ingredients (Food, Malaysia) Strategic investment by Creador
FujiMart (Supermarket, Vietnam) Joint Venture with BRG Group, Sumitomo Corp

Singapore is the top destination for the entertainment industry Sectors like — Media, Gaming & Esports have raised US$ 11.5M in the last month

Top Deals include:

Tickled Media (US$ 8M, SG) • Mighty Jaxx (US$ 20M, Series A+,SG)
Ampverse (US$ 12M, Series A, SG)

SECTORS IN FOCUS

Healthtech

Vietnam is certainly a top-spot for Healthtech & Healthcare sector, bagging 4 major deals in March 2022

Notable Transactions

SIS Group, Lead Investors — Excelsior Capital Vietnam Partners
Jio Health (US$ 20M), Lead Investors — Heritas Capital, Fuchsia Venture Capital, Monk’s Hill Ventures
Med247 (US$4.5M, Series A), Lead investors — Eastridge Partners

Singapore recorded 2 transactions in this sector — Nalagenetics(US$ 12.3M, Series A) by Intudo Ventures and Vulcan Capital & Oncoshot by Milltrust Ventures

HR & Edtech

Post-pandemic, this sector has seen unprecedented growth and consumer adoption, the sector is likely to benefit from the continuation of remote work policies in SEA.

Notable Transactions

Multiplier (US$ 60M, Employment Platform, SG) Lead Investors — Tiger Global Management, Sequoia Capital India, Picus Capital, Gemini Investments Asia
Cialfo (US$ 20M, EdTech, SG) Lead Investor — Tiger Global Management
Cakap (Edtech, ID) Lead Investor — Indonesia Impact Fund (IIF) SECTORS IN FOCUS SaaS, IT & Software Singapore is the top destination globally for software companies with a total of US$ 73.2M raised in March 2022

Notable Transactions

AI Rudder (AI) Lead Investors — Tiger Global, Coatue, Cathay Innovation, First Plus, VenturesLab, Sequoia Capital India, Huashan Capital
Treehouse (Web 3.0, US$ 18M, Seed) Lead Investors — Lightspeed Venture Partners, Binance, MassMutual Ventures, Mirana Ventures, Global Founders Capital, Jump Capital, GSR, Wintermute, Do Kwon
Willowmore (Series A) Lead Investor — Oriza Greenwillow Technology Fund •
Handprint (US$ 2.2M, Seed) Lead Investor — Thunes
Locofy (US$ 3M, Pre-seed) Lead Investors — Accel, January Capital, Golden Gate Ventures, BoldCap