Deals of the week: Stamped to be acquired; SiCepat goes the extra mile

THESE South-east Asian tech deals made headlines in the past week:

1. Stamped to be acquired for up to US$110 million

Singapore-based e-commerce marketing platform Stamped is being acquired by Canada-listed WeCommerce Holdings for up to US$110 million. WeCommerce invests in companies within the Shopify partner ecosystem.

Stamped had about US$11 million in annualised recurring subscription revenue as at December 2020, WeCommerce said in a statement.

2. Indonesia’s SiCepat valued at US$744 million after Series B round

SiCepat, which specialises in last-mile delivery, has raised US$170 million in the largest Series B round in South-east Asia. This values the business at about US$744 million, said data intelligence platform VentureCap Insights.

The round was backed by investors including Falcon House Partners, Kejora Capital, Temasek’s Pavilion Capital, MDI Ventures, German Development Finance Institution DEG, Indies Capital, Tri Hill and Daiwa Securities.

3. Symbo raises US$9.4 million, acquires health platform Vivant

The Singapore-based insurtech startup has raised US$9.4 million in a Series A round led by CreditEase Fintech Investment Fund.

Symbo has also acquired Vivant, a startup that helps brands and institutions create digital health platforms, in an all-stock transaction.

Both Symbo and Vivant were established and incubated by AJ Capital, a Singapore-based family office that manages money for India's Jhunjhunwala family. AJ Capital owns about half of the combined entity.

4. Nutrition Technologies gets US$5 million, opens insect protein factory

The Singapore-based agrifoodtech startup has raised US$5 million in a pre-Series B funding led by Hera Capital, with participation from existing investors Openspace Ventures and SEEDS Capital, the investment arm of Enterprise Singapore.

It has opened its first industrial-scale insect protein factory in Iskandar Puteri, Johor, Malaysia. The factory, which spans 2.5 hectares and has 150 employees, cost US$7 million to build.

5. Supply chain solutions startup Advotics bags US$2.75 million

Advotics has raised US$2.75 million in a Series A round led by East Ventures. The company helps brands to manage their supply chains in Indonesia's retail market by providing integrated platforms along the distribution line.

Advotics will use the fresh funding to expand its footprint into the small and medium enterprises market by providing a one-stop integrated online-to-offline system.