Asia Digest: Mighty Jaxx said to have raised funds; Bangladesh's Shomvob raises $1m

Asia Digest: Mighty Jaxx said to have raised funds; Bangladesh's Shomvob raises $1m

US Dollar notes photo by Pixabay

Singapore’s Mighty Jaxx has reportedly raised $11 million in a Series A+ round to expand its collectible design business in the US and Europe, while Shomvob has secured $1 million in pre-seed funding to enhance HR tech in Bangladesh.

Mighty Jaxx raises additional $11m in Series A+ round

Mighty Jaxx, a Singapore-based design studio specialising in limited-edition collectibles, has raised an additional $11 million in its Series A+ funding round, Tech in Asia reported on Thursday.

The round saw participation from Sunova Capital and East Ventures, which had led the initial $20 million tranche of the round in March 2022, according to the report.

To date, Mighty Jaxx has raised over $51 million, and is backed by investors such as Mirana Ventures, KB Investment, and Korea Investment Partners.

Founded in 2012 by Jackson Aw, Mighty Jaxx partners with brands like Nickelodeon and Warner Brothers and serves customers in 90 countries. The new funds will primarily be used to fulfil increasing customer purchase orders and scale operations in key markets, namely the US and Europe.

Bangladesh’s HR Tech startup Shomvob secures $1m

Shomvob, a Bangladesh-based B2B job tech and HR tech platform, has raised $1 million in a pre-seed financing round led by Cocoon Capital.

In an announcement on Thursday, the company said it has also received a grant from the Bill & Melinda Gates Foundation. 

Founded in 2022, Shomvob addresses hiring challenges by providing a digital identity for job seekers and helping ease hiring processes, while also providing employers with a real-time system to track applications.

Shomvob said that the latest funds will be used to develop a comprehensive Human Resources Information System (HRIS) to streamline HR processes, particularly benefiting underserved groups such as low-income women and blue-collar workers.

Cocoon Capital is a Singapore-based venture capital firm that invests in early-stage tech companies across Southeast Asia, with notable investees including logistics platform,  AI automation startup Augmentus, and healthcare distribution startup BuyMed.

Edited by: Pramod Mathew

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