Malaysian e-commerce aggregator iPrice raises US$10 million in Series B financing

iPrice Group, an e-commerce aggregator platform in Malaysia, has raised US$10 million in a Series B funding round, led by ACA Investments, according to DealStreet Asia.

Other participants include Daiwa PI Partners, LINE Ventures and Mirae Asset-Naver Asia Growth Fund.

The company targets expansion beyond its primary price comparison unit, which accounts for 50 per cent of its revenues, operating at a 30 per cent EBITDA margin according to a statement.

Also Read: iprice raises US$4M Series A led by Asia Venture Group, Venturra Capital

“To pursue our next journey, we need to be where the consumers are. We need to engage users directly on our platform, continue our strong presence on Google as it remains a vital starting point for many shoppers, and enable partners across the region, such as media platforms, social media apps, and all the emerging super apps, to provide e-commerce content for their audience,” said Chmelar.

AI-driven fashion startup FlixStock raises US$2.5M to launch research centre in Singapore

Indian fashion startup Flixstock, which uses AI to remove the need for hiring models for a photoshoot, announced today that it has raised US$2.5 million from US/Singapore-based early-stage VC firm Wavemaker Partners, according to Tech In Asia. Other participants in this round were Seeds Capital and Leo Capital.

The additional funds will be used to launch a research centre in Singapore and expand in the US markets.

“Images are key to successful e-commerce, but the production of fashion images has never seen any innovation,” said Harindar Keer, Founder and CEO of FlixStock. “We offer a suite of solutions to help retailers create images in large scale at a fraction of the existing costs.”

Also Read: Morning News Roundup: Singapore’s Circles.Life lets go of employees despite recent fundraise

The company currently has seven international offices and more than 60 retailers, globally.

Malaysian startup investment firm NEXEA kickstarts programme for local startups

Malaysia-based startup investment firm NEXEA Angels announced today that it will bring back its programme for local startups and corporations to explore potential partnerships, pilot programmes and acquisitions, according to a press statement. 

Through this, startups will explore pilot projects with different organisations, validate business and explore real-world product testing. 

Additionally, startups will also gain mentor support and funding from NEXEA and its co-investment partners. Partners include property developer UEM Sunrise Berhad, Spritzer, Delloyd Group, shopper360 and Allianz General Insurance Company Berhad.

“The idea is about bridging the gap between startups and industry players – many startups desire a working relationship with corporate entities and our role is to help startups attain it,” explained Ben Lim, Managing Partner of NEXEA.

Singaporean knowledge-sharing startup Arches raises US$450K to expand its database

Singapore-headquartered knowledge-sharing services firm, Arches, has raised US$450,000 from Vietnamese accounting firm I Global and other individual investors, according to Deal Street Asia.

With this funding, the startup aims to expand its current database and continue to grow operations in Singapore, Tokyo, Ho Chi Minh City, Shanghai and Tashkent.

“In Asia, especially in the fastest-growing economies, industry information belongs to a small group of insiders, and public data and reports available to the market are extremely limited,” said Hiroki Kato, representative director of Arches.

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Image Credit: Flaunter.com

 

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