Participated · Series B · Sep 2020

Founded in 2017, Sunday positions itself as a full-stack insurtech, handling everything from underwriting to the distribution of policies. Its product suite includes online motor and travel insurance and Sunday Health for Business, an employee healthcare program. The company also partners to provide subscription-based smartphone plans. Sunday relies on AI and machine-learning models to automate pricing and scale underwriting for complex risks. It currently serves 1.6 million customers and says it doubled its revenue growth in 2020. With new capital, Sunday plans to expand into Indonesia and develop additional distribution channels, including insurance agents and SMEs. The firm also intends to extend its platform architecture to offer retail health insurance to existing health members and partners while continuing to grow its portfolio in Thailand and Indonesia.

Participated · Series B · Mar 2020

iPrice Group is a Southeast Asian price-comparison platform that aggregates offers from more than 7 billion products and 8 million sellers. It operates in seven countries: Malaysia, Singapore, Indonesia, Thailand, the Philippines, Vietnam, and Hong Kong, and positions itself as an online shopping companion. Core features include comparing products, prices, seller reputations, delivery conditions, aggregating seller vouchers, and app-based alerts such as its newly launched Price Watch service. Price Watch launched in Indonesia and is scheduled to roll out to Singapore, the Philippines, Malaysia, Vietnam, and Thailand in 2022. With new funding, iPrice plans to expand into the consumer lending market to help users find loans to fund purchases, citing a Google prediction that digital lending in Southeast Asia could reach $92 billion by 2025. The company already lists lending partners including Payku (Itochu's subsidiary in Indonesia), Home Credit, Julo, Cashalo, Smartpay, and ZIP, and says the additional capital will support deeper lending partnerships and product rollouts. iPrice Group is a Malaysia-based online shopping companion and e-commerce aggregator focused on Southeast Asia. The platform aggregates six billion offers from more than two million sellers, enabling users to compare products, prices, seller reputation, and delivery conditions in one place. iPrice's stated mission is to bring greater transparency, convenience, and trust to consumers in SEA to help them save money. The company has partnerships with Home Credit (Indonesia), Thairath (Thailand), GoRewards (Philippines), Boost (Malaysia), ViSenze (Singapore), and SmartPay (Vietnam). CEO Paul Brown-Kenyon said iPrice built a product to embed e-commerce into apps and platforms and aims to be a prime partner for leading platforms and super apps in the region. With the newly raised funds, iPrice plans to further refine its product and accelerate the rollout of partnerships while working towards a Series C funding round. iPrice Group operates a price-aggregation and comparison-shopping platform across Southeast Asia, pulling together listings and prices from numerous e-commerce sites. The platform claims to aggregate more than 1.5 billion products from over 1,500 e-commerce partners and says it is the leading product aggregator in Indonesia, Vietnam, Thailand, the Philippines, Singapore, Malaysia and Hong Kong. iPrice reports more than 20 million monthly visitors and about 5 million transactions made through its platforms in 2019. Its core iPrice unit accounted for roughly half of the company’s revenue and operated at a 30% EBITDA margin, a profitability level the company expects other businesses to reach in two to three years. iPrice partners with super apps such as Line and Home Credit to expand reach, and it began by collecting coupons before expanding into broader price aggregation. The company plans to use new funding to develop product-discovery features, including recommendations and professional product reviews. iPrice is an aggregation service that pulls e-commerce websites across Southeast Asia into a single destination, having pivoted from a coupon site to an aggregator. The company offers more than 500 million SKUs across Malaysia, Singapore, Indonesia, Philippines, Thailand, Vietnam, and Hong Kong. It reports over 50 million visitors since December 2016 and is targeting 150 million visitors in the current year. iPrice generates B2B revenue by working with media groups and brands — clients include Mediacorp in Singapore and Samsung in Indonesia — alongside driving consumer traffic to e-commerce partners. Electronics have been a particular driver of its traffic and listings. The company is headquartered in Kuala Lumpur and was founded in 2015. iPrice operates a meta-search e-commerce aggregation service that aggregates product discovery and price comparison across online retailers in Southeast Asia. The platform has built a cleaned, sorted database of retailer and buyer data that the company says is unique to the region. iPrice is Malaysia-based, active in seven countries and employs more than 100 staff, working with retail partners to drive visibility, traffic and sales. The company added price comparison functionality in September and plans to use its dataset to introduce additional features and affiliate revenue products for media companies and independent bloggers. CEO David Chmelar said the company began with product discovery, expanded after seeing traction, and now sees multiple potential uses for its dataset. On the financial side, iPrice closed a $4M Series A and the CEO said the funding gives potential to reach break even and profitability, though no timeframe was provided.

Participated · Series C · Apr 2019

HappyFresh is an Indonesia-headquartered startup that operates an online grocery delivery service. The company is backed by Grab Ventures. According to regulatory filings accessed by DealStreetAsia – DATA VANTAGE, HappyFresh has raised $65 million in its latest funding round. The round is identified as a Series D. The article does not disclose operating metrics, revenue, user numbers, or detailed plans for use of proceeds. Launched in 2015, HappyFresh partners with supermarkets and other retailers to enable online grocery ordering with same-day delivery handled by its staff, targeting a one-hour window via website and mobile apps. The service is active in Indonesia, Thailand and Malaysia. The company says it has become profitable in the markets where it operates after a period of retrenchment and restructuring. HappyFresh plans to use new capital to double down on technology, including greater personalization for shoppers and more efficient logistics. Management also intends to resume careful, market-driven expansion into new cities where there is a clear path to long-term profitability. HappyFresh operates an on-demand grocery service in Southeast Asia, partnering with offline retailers and using personal shoppers to deliver orders—often within one hour—through mobile apps and web. The company monetizes via delivery fees (example: 60 THB in Bangkok), fees charged to retail partners, and an analytics/data business called HappyData. HappyData is already a profitable operation that provides retailers and brands with behavioral and purchase insights, promotions and advertising opportunities as part of the HappyFresh ecosystem. Global retailers such as Tesco and Carrefour are among its partners. The company employs nearly 1,000 staff and has recently exited Taiwan and the Philippines to concentrate on Indonesia, Malaysia and Thailand, a change that led to layoffs and some relocations. Management says its priority is to scale all revenue streams and make the overall company profitable, though it declined to disclose its profitability target. HappyFresh offers one-hour grocery delivery by partnering with physical retailers while using its own professionally trained shoppers and delivery teams to pick and deliver items. The service integrates with retail partners' backend systems and is building technology to load-balance inventory and personalize the shopping experience, including one-click repurchases and tailored offers. The company is developing a recipe platform called Happy Recipe that will integrate with its core product to provide meal inspiration. HappyFresh is live in Jakarta, Kuala Lumpur and Bangkok, recently launched in Surabaya and is planning to enter Taipei as it pursues pan‑Southeast Asia expansion. The startup reports consistent 100% month-on-month growth in each city and a very high proportion of return customers, though it declined to provide raw figures. It raised a $12M Series A to further develop its service, advance its technology and expand across the region.

Participated · Series B · Mar 2019

Perx Technologies is a Singapore-based customer loyalty platform. The company announced it raised a $5 million Series B round. Investors in the round include LINE Ventures, Access Ventures and NCORE VENTURES. The fundraising news was reported on Tuesday. The article did not provide operating metrics, valuation, prior rounds, or use-of-proceeds details.

Participated · Series B · Jan 2019

Warung Pintar builds brightly designed ‘smart kiosks’ for Indonesian street vendors that include a digital POS, free customer Wi‑Fi, an LCD display and power‑bank chargers. The company provides the tech appliances at no fee while kiosk owners pay a $5,000 charge that covers a prefab kiosk. Warung Pintar is in growth mode and is not yet fully focused on monetization; management sees revenue opportunities via supply‑chain management and brands leveraging the startup’s consumer touch points. The business counts 1,150 kiosks in Jakarta and has begun expansion into Banyuwangi, East Java. Management aims to grow to about 5,000 kiosks before the end of the year. The company was founded in 2017 and operates in Indonesia. Warung Pintar outfits street-vendor kiosks with a bright prefab kiosk and a suite of technology including a digital POS, free Wi‑Fi, LCD screens and power-bank chargers. The project was born out of East Ventures less than six months before the article and has deployed its solution to 12 kiosk owners in Jakarta so far. The company charges a one-time $5,000 fee to cover the prefab kiosk while providing the technology free of charge and is not immediately seeking revenue. Its team is assessing indirect monetization options such as taking a cut for connecting financial-service providers, brokering other services, or enabling local online ordering. East Ventures associate Agung Bezharie moved to become CEO as the initiative scaled. The venture completed an oversubscribed $4 million seed round and is discussing extending the financing. The initial rollout uses a district-by-district approach in Jakarta with plans to expand across Indonesia.