Southeast Asia is a region in Southeast Asia.
Indonesia
Singapore\sMalaysia
Vietnam\sThailand
Philippines
Myanmar
India
Greater China is a term used to describe a
Asia’s rest
World
Internet Economy & E-Commerce
Technology
Infrastructure and Real Estate
Services in the Financial Sector
Infrastructure for Social Development
Emtek’s Vidio seeks money, InVideo raises $33.2 million, and more
Andi Haswidi contributed to this article.
13th of July, 2021
Vidio, the video-on-demand (VOD) platform of Indonesian media and technology conglomerate Emtek Group, grew fast during the COVID-19 pandemic and is now open to collecting external finance, according to a key executive recently told DealStreetAsia.
Vidio, which is backed completely by Emtek, claims to have increased the number of active users by 1.5x to almost 60 million by the end of last year. According to App Annie, Vidio was the most downloaded app in Q1 2021 among peers such as WeTV, Viu, iflix (now bought by WeTV), and iQiyi.
Vidio’s subscription strategy places it against multinational businesses operating in Indonesia, despite relying on ads for much of its revenue. According to Media Partners Asia, Vidio had the third-largest number of paying customers in January, with 1.1 million, behind Disney Plus Hotstar (2.5 million) and Viu (1.5 million).
According to a Kantar study cited by Google, Temasek, and Bain in the e-Conomy SEA 2020 report, subscription video providers saw a rise in new user acquisition during the pandemic, with new users accounting for 38 percent of total subscribers in 2020.
Kantar Media
According to data collected by DealStreetAsia’s DATA VANTAGE, two-year-old online video editing startup InVideo raised $33.2 million in a Series B investment last week from a group of investors led by San Francisco-based Greenoaks Capital, in line with the increased demand for VOD services.
Existing investors Sequoia Capital India, Hummingbird Ventures, Tiger Global, and Base Ventures also participated in the round.
Sanket Shah and Harsh Vakharia launched the InVideo app in April 2019, which uses artificial intelligence to help users create films by dragging and dropping information from a library of templates, videos, and photographs.
The company claimed to have over 800,000 users in over 150 countries as of last year.
Additional DATA VANTAGE snippets
Achilles Systems, a Singapore-based company that operates the Indonesian regulatory tech app OnlinePajak, raised $12 million in a funding round headed by Tencent Holdings and Altos Ventures last week. Despite having over 19 million registered individual and business taxpayers, Southeast Asia’s largest market has a 59 percent compliance rate as of last year.
Grace Software Holdings led a $15.9 million fundraising round for data collaboration platform Atlan. Surge Ventures and Vistra ITCL Limited are among the other investors. According to our calculations, the fresh capital raises Atlan’s total investment to $21.3 million and its post-money valuation to $100.9 million.
Last week, Nektar.ai, a B2B sales productivity firm, received fresh funding from Nexus Ventures, B Capital, and Vistra ITCL Limited, bringing the total amount raised in 2021 to $5.8 million. Abhijeet Vijayvergiya and Aravind RS launched the company in 2020, and it offers an AI-based sales efficiency tool.
AirCarbon, a carbon trading platform, received $500,000 from Redshaw Advisors Exchange Holdings LLP this week in order to grow into the Middle East and North Africa (MENA). Thomas McMahon and William Pazos, co-founders of AirCarbon, founded the company in 2019.
In a secondary transaction last week, Falcon Edge Capital upped its investment in Indian e-commerce firm Moglix. This year, Moglix has raised $121 million in new finance, bringing its total funding to $201.4 million. The corporation was valued at $819.1 million at the time of the previous valuation.
Thousands of venture-backed firms’ funding, shareholding, and financial data are available to DealStreetAsia – DATA VANTAGE subscribers. This database is for you if you’re an investor looking for your next big bet or a market player trying to assess the competition.
Check out our subscription options or sign up for a $299 one-month trial.
Hummingbird Ventures InVideo Vidio Greenoaks Capital
Every day, you’ll receive articles like these in your email.
Sign up for The Daily Brief, our daily newsletter.
Register for the Newsletter
Related Articles
As the digital banking race heats up, Voyager and YouTrip raise the bar.
This episode focuses on Southeast Asia’s prospective challenger banks, which are still raking in cash.
Small businesses represent a huge opportunity for Southeast Asia’s entrepreneurs, according to Data Vantage.
We bring you the first two deals in Southeast Asia from London-based VC Hedosophia, as well as other updates in this edition.
Analysis
GrabPay and other Southeast Asian finance businesses are raking in more cash, according to data.
This issue includes updates on funding for regional fintech firms and other entrepreneurs.
Analysis Data Vantage: E-scooter startup Beam raises funds, plus more news
The latest advancements at Beam Mobility and other SG-registered firms are featured in this edition.
To continue reading our free content, create an account.
If you don’t want to get The Daily Brief in your inbox every day, unsubscribe.
REGISTER
Do you already have a login? Here is where you may log in./n
Read More
