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The round was backed by The Agribusiness Investment and Consultation Co, Spiral Ventures Asia Fund, and Beyond Next Ventures.
Marketplaces KREAM and SneakersLAH backed the funding round.
The state-run Mixed-ownership Reform Fund invested in the round.
CapGrid’s round also saw participation of existing investors Axilor and Anicut Capital.
The round also saw participation from AppWorks, AC Ventures, Capria Ventures, among others.
It is setting up offices in the region’s key markets of Indonesia, Vietnam, and India.
CCV closed its second fund in 2020 with a corpus of over $300m.
The round, which was oversubscribed, received the backing of Switzerland’s Seedstars International Ventures.
The company, founded in 2015, said its business is “no longer commercially viable”.