Indonesian virtual multi-brand restaurant chain Dailybox Group on Monday announced raising $24 million in a Series B funding round led by Northstar Group and Vertex Growth Fund.
Vertex Ventures Southeast Asia & India and Indonesia’s Kinesys Group also participated in the round.
Dailybox has so far received $22 million in equity funding from its Series B investors, according to its regulatory filings. Lead investors Northstar and Vertex Growth Fund have contributed $10 million and $8 million, respectively, so far.
The startup plans to use the proceeds from its latest round to expand its business across the country, enhance tech capabilities, and add more food and beverage (F&B) brands to its portfolio.
Top shareholders in Dailybox
Gender gap at Southeast Asia’s venture investors
A recent report by DealStreetAsia found that 77% of venture investors headquartered in Southeast Asia do not have a single female investment decision-maker. In comparison, about 66.6% of the Asian and global investment firms with a presence in the region had no female decision-maker at all.
The report covered 380 venture investors, including venture capitalists, venture debt providers, angel investment platforms, accelerators and incubators, with operations in Southeast Asia.
The numbers in a nutshell
Other updates from DATA VANTAGE
Singapore-based agritech company Archisen received $2.7 million this week in Series B funding from investors including Pine Venture Partners, according to regulatory filings. The latest capital infusion brings the urban farming solutions provider’s total funding to $5 million.
Africa-focused super app Gozem secured $250,000 from Launch Africa Ventures this week. The mobility startup for Francophone West and Central Africa had recently announced securing a $10 million investment from the International Finance Corporation (IFC).
Singapore-based renewables firm Sunseap reported a 19.1% year-on-year revenue increase for the financial year ended December 31, 2021. The solar energy system developer has sunk back into the red after reporting a net profit before interest in the previous two years.
Wealth management platform StashAway more than doubled its revenue for the financial year ended December 2021. Its losses, too, doubled during the period.
Digital asset bank Sygnum’s Singapore-registered entity reported a more than sixfold increase in its revenue for the fiscal year ended Dec 2021. It reported a small net profit before interest during the period after recording losses in the previous two years.