A Recap On What Happened This Week: Asian Startup News Overview (September 4th - September 8th)

This week began with the best performance in the Beijing stock exchange, and it happened because of the reformed measures passed to improve the Asian market, and it has worked. The China Securities Regulatory Commission added that this new achievement will pave the way to advance innovation in the stock exchange market, invigorate the capital market, and increase investors' confidence. The Asian market looks positive that regulations and strong support for startups are developing due to free market operations.

This week, Josys, a Software-as-a-service-based innovative firm, received an amount of USD (125 million) while Captain Fresh, a seafood start-up, secured USD (20 million) in the funding series led by a Japanese firm.

Below are some of the startups that were fortunate this week.

Delos

Indonesia’s seafood industry has grown in prominence in the tech sector, especially with the new unicorn eFishery. This has led to a smattering of new startups looking to capitalize on products like shrimp: Indonesia produced almost 1 million tonnes of it in 2021 and is looking to bump that up to 2 million tonnes by 2024. One such startup is Delos. The aquaculture company has raised an undisclosed amount in the first close of its series A round, which is led by Monk’s Hill Ventures. The company will use the funding for product development, aiming to decrease production costs and improve disease monitoring, water quality management, feed conversion ratios, and yields.

Captain Fresh

Captain Fresh, a B2B fish and seafood startup, announced a $20 million Series C round led by Japan-based SBI Investment and Evolvence Capital. Existing investors such as Accel, Matrix Partners India, Prosus Ventures, and Tiger Global also took part in the round, according to the company. The new funding will be used to fuel the startup's global ambitions, with plans to expand in Europe and the United States. Captain Fresh claims to have already begun talks with potential partners in these markets. Captain Fresh's financial advisor in this transaction was Elluminate Capital.

SLEEK EV

SLEEK EV, based in Singapore, announced on September 7 that it has received a synergistic Pre-Series A funding led by ORZON Ventures, a venture capital fund powered by OR and 500 TukTuks. January Capital and A2D Ventures are among the round's co-investors. According to the company, this strategic investment will help SLEEK EV accelerate the transition of 2-wheelers in Southeast Asia to electric. Kantinan Tunveenukoon and Zhang Quan (ZQ) Ong, the founders of SLEEK EV, bring a wealth of experience, having successfully distributed electric motorcycles for several years and launching Thailand's first fintech platform specifically tailored to financing electric motorcycles before launching SLEEK EV in 2022.

Josys

Josys, a Software-as-a-Service (SaaS) and device management platform that helps businesses reduce IT operation costs and improve security systems announced a $93 million Series B funding round on Sept 5. Global Brain and Globis Capital Partners led the latest round of funding, bringing the company's total funding to $125 million, according to a statement. Businesses face cybersecurity risks, shadow IT issues, and device management challenges as they shift to remote work. To address these issues, Josys was founded in 2021, at the height of the Covid-19 pandemic. Its solution assists businesses in automating and optimizing the management of their software applications and devices. The company raised $32 million in its Series A round in September 2022. Josys has proliferated since then, gaining over 300 customers and tenfolding revenue.

Min Technology

iMin Technology, a Singapore-based provider of point-of-sale (POS) devices, announced on Sept 3 that it has recently secured $5 million in Series Pre-A funding led by Yonghua Capital, as demand for digital commercial devices such as point-of-sale terminals, industrial scanners, and self-service kiosks continues to rise globally. iMin has introduced the Swan 1 Pro, a POS device that it claims is one of the most powerful Android cash registers available globally, as part of its commitment to innovation. According to the company, this product challenges traditional Windows devices and aims to revolutionise the industry with its advanced features and performance capabilities.