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The Venture Codex

Ondine Capital

88 Market Street, #21-34, CapitaSpring, Singapore, Central Region, 048948

Overview

Ondine Capital engages in venture capital type investment activities in Southeast Asia, focusing on startups with consumer technology, in the fields of retail, education, logistic, or general TMT.

Total investments
6
Lead investments
2
Investments · 12mo
1
Active investors
2

Sector focus

  • Venture Capital
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Investment portfolio

  • Aboard

    Led · Series A · May 2026

    Aboard designs and builds integrated extended-range electric (EREV) travel trailers that combine energy, mobility, and living into a single platform. The company emphasizes automotive-grade engineering and manufacturing, including high-precision stamped body and door systems, and residential-style interiors in a compact form. Its first trailer is in advanced prototype and validation, with configurations starting at $80,000. Aboard plans to invest in production readiness and mass production refinements following its Pre-Series A financing. The company will publicly showcase the travel trailer at Outside Days in Denver on May 29. Aboard is headquartered in Southern California and was founded by Jiangtao Lyu.

  • iMotorbike

    Led · Series A · Jun 2023

    iMotorbike operates an online marketplace that enables users to buy and sell preowned motorcycles, offering a money-back guarantee and warranties. The platform provides financing options, insurance, road tax services and publishes motorcycle news to support buyers. It has completed over 2,500 transactions with total revenue exceeding RM16 million and maintains connections with 5,000 dealers across Malaysia and Vietnam. iMotorbike currently operates 170 inspection points and offers 6-day returns, 6-month warranties and countrywide delivery. The company plans to use new capital to expand operations in Malaysia and Vietnam, open more inspection centres, and invest in technology and talent. iMotorbike aims to advance a circular economy for two-wheelers by promoting reuse of motorcycles, parts and accessories and scaling within Southeast Asia.

  • Love, Bonito

    Participated · Series C · Oct 2021

    Love, Bonito is a Singapore-based omnichannel womenswear brand founded in 2010 that has expanded to ten markets. The company sells womenswear through a combined online and offline (omnichannel) model and plans to broaden its product mix into activewear, accessories, wellness, and other non-fashion categories. It also intends to launch a content platform (LiBrary) and a category expansion initiative (LaB) as part of building a broader female ecosystem. The new funds are earmarked to boost operations in existing omnichannel markets and accelerate international expansion into Hong Kong, Japan, the Philippines, and the United States. The company reports over 120% year-over-year growth in overseas markets and 208% growth in online sales, and highlights strong internet-sales growth among Asian diaspora in the U.S. Prior investors include Kakaku.com and Openspace Ventures. Love, Bonito is a women's lifestyle brand offering apparel through both online and brick-and-mortar stores. The company has retail and online presence in Singapore, Malaysia, Indonesia and Cambodia, and ships internationally. Incorporated in 2010, it is led by Rachel Lim and Dione Song, Chief Commercial Officer. The business has a current headcount of 80 team members. Love, Bonito plans to use its new funding to bolster product, data and engineering teams, build brand relevance in new Asia-Pacific markets and deepen influence in existing markets. No revenue or user metrics were disclosed in the article.

  • Carsome

    Participated · Series D · Dec 2020

    Carsome operates an integrated car e-commerce platform providing end-to-end services spanning the vehicle ownership journey through subsidiary brands such as iCar Asia, WapCar, CarTimes, Carsome Academy, and Carsome Capital. It operates across Malaysia, Indonesia, Thailand, and Singapore, with Malaysia and Singapore currently contributing most to profitability. In FY2025 the company posted its second consecutive year of positive EBITDA, more than doubled earnings to around $23 million, and achieved a 16% increase in gross profit as it sharpened cost discipline and monetisation. Carsome plans to use recent funding to scale operations regionally while maintaining a focus on sustainable, profitable growth. The company is prioritising initiatives in supply chain development and technology collaboration, including integrating data and artificial intelligence into its operations. Management describes the fundraising as reinforcing strategic alignment with investors and supporting cross-border collaboration between Southeast Asia and Greater China.

  • Snapask

    Participated · Series B · Feb 2020

    Snapask provides an app that matches students with quality tutors for instant one-on-one learning sessions. The company also develops B2B solutions using AI and big-data analysis to deliver personalized learning resources. Founded in 2015 and based in Hong Kong, Snapask has served over 3 million students across Hong Kong, Taiwan, Singapore, Malaysia, Indonesia, Thailand, Japan and South Korea. It completed a US$35M funding round that brought total funding raised to date to over US$50M. The company intends to use the funds to expand further in Southeast Asia, notably Vietnam and Singapore, and to develop analytics products to promote self-directed learning technology and video learning content. The round was led by Asia Partners (Singapore) and Intervest (South Korea), among other investors. Snapask is a Hong Kong-based education technology firm. The company raised $5 million in a pre-Series A financing round. The reported proceeds come from venture capital firms based in Hong Kong and Indonesia. Snapask plans to use the funding to expand into Southeast Asia, the United Kingdom and Australia. The article does not disclose product specifics, revenue, user metrics, or the names of the participating investors.

Team