Ondine Capital

Ondine Capital is a venture capital firm headquartered in Shanghai, China, that specializes in investment activities within Southeast Asia. The firm focuses on identifying and supporting startups in the consumer technology sector, particularly in areas such as retail, education, logistics, and general technology, media, and telecommunications (TMT). By concentrating on these industries, Ondine Capital aims to foster innovation and growth among emerging businesses in the region.

Yen An Cho

Founding and Managing Partner

Randolph Hsu

Founder

29 past transactions

iMotorbike

Series A in 2025
iMotorbike is the leading online e-commerce platform for motorbikes in Southeast Asia, offering a diverse range of products including motorcycles, parts, and accessories. The marketplace aims to revolutionize motorcycle sales by providing an extensive selection of brands and models, along with a user-friendly search engine to help customers find motorcycles based on specific criteria such as make, model, and location. In addition to facilitating the purchase of motorbikes, iMotorbike enhances the user experience by offering services like insurance and financing, creating a comprehensive ecosystem for motorbike enthusiasts, owners, and professionals. The platform is dedicated to delivering a fast, secure, and straightforward online experience, distinguishing itself in the competitive market.

Swap

Series A in 2024
Swap is a company that makes a battery interchange system that is designed to replace the traditional charging process for electric motors. The company offers an energy switching system comprised of both energy stations and handmade batteries that can be used with the assistance of a mobile application, allowing users to supply speed and timeliness to bike riders at a low cost. The company aims to support the nation's zero-emission goal by providing the revolutionized charging infrastructure

iMotorbike

Series A in 2023
iMotorbike is the leading online e-commerce platform for motorbikes in Southeast Asia, offering a diverse range of products including motorcycles, parts, and accessories. The marketplace aims to revolutionize motorcycle sales by providing an extensive selection of brands and models, along with a user-friendly search engine to help customers find motorcycles based on specific criteria such as make, model, and location. In addition to facilitating the purchase of motorbikes, iMotorbike enhances the user experience by offering services like insurance and financing, creating a comprehensive ecosystem for motorbike enthusiasts, owners, and professionals. The platform is dedicated to delivering a fast, secure, and straightforward online experience, distinguishing itself in the competitive market.

MetaCRM

Seed Round in 2023
MetaCRM is a prominent martech company specializing in customer relationship management (CRM) solutions tailored for the Web3 industry. By harnessing the power of AI and blockchain data, MetaCRM offers a suite of tools, including MetaForm, MetaDesk, and Meta Panel, which enable companies to access valuable cross-chain data. These solutions aim to enhance the efficiency of sales and customer success teams, ultimately improving user acquisition and retention rates. MetaCRM's vision is to empower businesses to connect seamlessly with over one billion crypto wallet users, thereby boosting their return on investment in advertising and overall marketing efforts.

Swap

Seed Round in 2023
Swap is a company that makes a battery interchange system that is designed to replace the traditional charging process for electric motors. The company offers an energy switching system comprised of both energy stations and handmade batteries that can be used with the assistance of a mobile application, allowing users to supply speed and timeliness to bike riders at a low cost. The company aims to support the nation's zero-emission goal by providing the revolutionized charging infrastructure

Forui Microelectronics

Angel Round in 2022
Forui Microelectronics is a high-performance chip developer.

Dekoruma

Venture Round in 2022
PT Dekoruma Inovasi Lestari operates an online platform that specializes in selling home furnishings and furniture in Jakarta, Indonesia. Founded in 2015, the company offers a diverse range of products, including kitchen and dining room items, decor, mattresses, and household appliances. In addition to retail, Dekoruma connects customers with interior designers, suppliers, and vendors, aiming to enhance the efficiency of the home and living industry. The platform is designed to meet the home decor needs of customers at affordable prices, making it a comprehensive solution for interior design and furnishing.

Lisuan Technology

Seed Round in 2022
Liansu Technology is a software company that develops graphics rendering GPUs. It intends to focus on self-developed architecture and proprietary intellectual property rights to create domestically-made GPU chips that are benchmarked against international mainstreams, serve the domestic 200 billion rendering GPU all-round market, and realize high-performance graphics rendering on the device, cloud, and car/side. The company is helping to build the computing core, keeping up with the times, computing technology is oriented to the needs of the underlying core chips of the digital economy, leveraging self-developed architecture, in display acceleration, game e-sports, digital twins, metaverse, VR/AR, ultra-high-definition video, professional design, and other fields to provide partners with high-performance software and hardware solutions.

Whiz

Pre Seed Round in 2022
Whiz offers a financial planner for teens. It provides news, research articles, and training programs for teens. Its features include connecting children and parent accounts, teaching saving plans, and managing pocket money for children.

半区

Seed Round in 2022
半区 is a growing career development&networking community for GenZ student, backed by investors from Silicon Valley and leaders in the Chinese tech industry.

Sayurbox

Series C in 2022
Sayurbox is a web-based platform based in Bandung, Indonesia, that specializes in the distribution of fresh fruits and vegetables. Founded in 2016, it connects consumers directly with farmers, allowing them to purchase chemical-free and organic produce. The platform emphasizes healthy living by offering vegetables that are harvested and delivered on the same day, ensuring freshness and quality. By facilitating online orders, Sayurbox aims to make healthy eating more accessible to its users.

Clounix

Series A in 2022
Clounix is a software startup specializing in high-performance network chips and solutions, particularly focusing on application-specific integrated circuits (ASICs) designed for cloud networking. The company is dedicated to enhancing cloud networking technology through the development of ASICs that facilitate high-speed packet switching. Clounix supports super-internet companies, medium and large enterprises, and network operators in building next-generation networks and data centers. By creating advanced hardware and tailored software that align with cloud-native ecosystems, Clounix plays a crucial role in the evolution of modern networking infrastructure, catering to the needs of global Internet manufacturers and businesses seeking to improve their network capabilities.

Carsome

Series E in 2022
Carsome is an online platform that simplifies the process of selling used cars for individuals and businesses. Founded in 2015 and headquartered in Malaysia, the company has expanded its operations to Indonesia, Thailand, and Singapore. Carsome's services include vehicle inspection, valuation, and a bidding system that connects sellers directly with dealers, allowing for a quick and efficient sale, often within a day. The platform also manages logistics and ownership transfers, ensuring a seamless experience for customers. In addition to selling cars, Carsome offers a curated selection of pre-owned vehicles for buyers. Overall, Carsome aims to provide a hassle-free and transparent car selling and buying experience.

Haulio

Series A in 2021
Haulio is a rapidly growing container haulage platform based in Singapore, established in 2017 by co-founders Alvin Ea and Sebastian Shen. The company operates in Southeast Asia, focusing on connecting global trade to local first-mile transportation across the ASEAN region. Haulio's platform serves as a marketplace that links users with a network of carriers, freight forwarders, drivers, and port operators. This system facilitates collaboration among haulers, allowing logistics businesses to optimize resources, enhance visibility, and improve reliability for end customers. Through its innovative approach, Haulio aims to transform international freight logistics into a more sustainable and efficient model.

Huarui Micro

Series B in 2021
HRmicro is a high-tech enterprise integrating R&D, production, sales and service of power device products. Huarui Micro has successfully developed and mass-produced products including high-voltage VDMOS, low-voltage trench MOS, super junction MOS and SGT MOS. At the same time, it is carrying out the research and development of third-generation semiconductor (SiC, GaN) power devices.

Love, Bonito

Series C in 2021
Love, Bonito is the best and largest vertically integrated, omni-channel women’s fashion brand in the region. Founded in 2010, she has grown to 150 people strong, proudly headquartered in Singapore with country offices in Indonesia, Malaysia, and Hong Kong and an omni-channel presence across these 4 markets, plus an international e-commerce site that ships globally. Love, Bonito is redefining what retail means - thoughtful, experiential, community-driven - with sights set on becoming the most thoughtful brand globally, for the everyday woman.

Carsome

Series D in 2021
Carsome is an online platform that simplifies the process of selling used cars for individuals and businesses. Founded in 2015 and headquartered in Malaysia, the company has expanded its operations to Indonesia, Thailand, and Singapore. Carsome's services include vehicle inspection, valuation, and a bidding system that connects sellers directly with dealers, allowing for a quick and efficient sale, often within a day. The platform also manages logistics and ownership transfers, ensuring a seamless experience for customers. In addition to selling cars, Carsome offers a curated selection of pre-owned vehicles for buyers. Overall, Carsome aims to provide a hassle-free and transparent car selling and buying experience.

Crewdible

Seed Round in 2021
Crewdible operates a micro-warehousing platform that connects e-commerce sellers with individuals or businesses that have available space for use as fulfillment warehouses. By utilizing existing homes and offices, Crewdible significantly reduces operational costs, allowing for affordable solutions tailored to small and medium-sized enterprises (SMEs). The platform provides essential services such as inventory management, detailed income statements, location surveys, and contract signing, thereby facilitating efficient order fulfillment and enabling businesses to establish warehousing solutions without incurring excessive overhead expenses.

Ematic Solutions

Series B in 2021
Ematic Solutions, founded in 2012 and headquartered in Singapore, specializes in providing email marketing solutions that leverage predictive AI and automated optimization. With a global team of over 80 professionals across various countries, including the United States and several Southeast Asian nations, the company aims to help brands maximize revenue and effectiveness through email marketing. Their platform features advanced tools for automated email segmentation, enabling brands and digital marketers to enhance customer engagement and drive revenue growth from their campaigns. Ematic Solutions has supported numerous clients, including well-known brands in sectors such as beauty, eCommerce, fashion, hospitality, travel, and technology, achieving significant results in their marketing efforts. The company has garnered support from prominent investors, further solidifying its position in the market.

Sayurbox

Corporate Round in 2021
Sayurbox is a web-based platform based in Bandung, Indonesia, that specializes in the distribution of fresh fruits and vegetables. Founded in 2016, it connects consumers directly with farmers, allowing them to purchase chemical-free and organic produce. The platform emphasizes healthy living by offering vegetables that are harvested and delivered on the same day, ensuring freshness and quality. By facilitating online orders, Sayurbox aims to make healthy eating more accessible to its users.

Tsaitung Agriculture

Funding Round in 2021
Tsaitung Agriculture Co., Ltd. is a procurement platform based in Taipei, Taiwan, that facilitates the direct purchase of fresh fruits and vegetables from farmers by restaurants and food catering businesses. By leveraging a price prediction algorithm and an innovative business model, the company connects food producers with buyers, allowing them to monitor market demand effectively. Tsaitung Agriculture offers a diverse selection of fresh produce, ensuring fast delivery at competitive prices. This streamlined supply chain management system helps to meet the demands of food service establishments while supporting local agriculture.

Carsome

Series D in 2020
Carsome is an online platform that simplifies the process of selling used cars for individuals and businesses. Founded in 2015 and headquartered in Malaysia, the company has expanded its operations to Indonesia, Thailand, and Singapore. Carsome's services include vehicle inspection, valuation, and a bidding system that connects sellers directly with dealers, allowing for a quick and efficient sale, often within a day. The platform also manages logistics and ownership transfers, ensuring a seamless experience for customers. In addition to selling cars, Carsome offers a curated selection of pre-owned vehicles for buyers. Overall, Carsome aims to provide a hassle-free and transparent car selling and buying experience.

Love, Bonito

Series B in 2020
Love, Bonito is the best and largest vertically integrated, omni-channel women’s fashion brand in the region. Founded in 2010, she has grown to 150 people strong, proudly headquartered in Singapore with country offices in Indonesia, Malaysia, and Hong Kong and an omni-channel presence across these 4 markets, plus an international e-commerce site that ships globally. Love, Bonito is redefining what retail means - thoughtful, experiential, community-driven - with sights set on becoming the most thoughtful brand globally, for the everyday woman.

Borong

Seed Round in 2020
Borong, based in Kuala Lumpur, Malaysia, is a B2B eCommerce solution provider that facilitates bulk buying and selling for businesses in Southeast Asia. The company aims to enhance product accessibility and convenience by digitalizing wholesale trade. Borong offers several digital solutions, including Borong Direct, a software platform that allows brands and suppliers to establish their own B2B eCommerce portals; Borong Marketplace, which connects wholesale buyers with qualified suppliers for efficient product sourcing; and Borong Credit, a suite of financial products aimed at improving cash flow for wholesalers and manufacturers. With a focus on consumer-packaged goods, Borong streamlines the procurement process, enabling retailers to manage sales orders and inventory more effectively.

Ematic Solutions

Series A in 2020
Ematic Solutions, founded in 2012 and headquartered in Singapore, specializes in providing email marketing solutions that leverage predictive AI and automated optimization. With a global team of over 80 professionals across various countries, including the United States and several Southeast Asian nations, the company aims to help brands maximize revenue and effectiveness through email marketing. Their platform features advanced tools for automated email segmentation, enabling brands and digital marketers to enhance customer engagement and drive revenue growth from their campaigns. Ematic Solutions has supported numerous clients, including well-known brands in sectors such as beauty, eCommerce, fashion, hospitality, travel, and technology, achieving significant results in their marketing efforts. The company has garnered support from prominent investors, further solidifying its position in the market.

Carsome

Series C in 2019
Carsome is an online platform that simplifies the process of selling used cars for individuals and businesses. Founded in 2015 and headquartered in Malaysia, the company has expanded its operations to Indonesia, Thailand, and Singapore. Carsome's services include vehicle inspection, valuation, and a bidding system that connects sellers directly with dealers, allowing for a quick and efficient sale, often within a day. The platform also manages logistics and ownership transfers, ensuring a seamless experience for customers. In addition to selling cars, Carsome offers a curated selection of pre-owned vehicles for buyers. Overall, Carsome aims to provide a hassle-free and transparent car selling and buying experience.

Tsaitung Agriculture

Seed Round in 2019
Tsaitung Agriculture Co., Ltd. is a procurement platform based in Taipei, Taiwan, that facilitates the direct purchase of fresh fruits and vegetables from farmers by restaurants and food catering businesses. By leveraging a price prediction algorithm and an innovative business model, the company connects food producers with buyers, allowing them to monitor market demand effectively. Tsaitung Agriculture offers a diverse selection of fresh produce, ensuring fast delivery at competitive prices. This streamlined supply chain management system helps to meet the demands of food service establishments while supporting local agriculture.

Sayurbox

Seed Round in 2019
Sayurbox is a web-based platform based in Bandung, Indonesia, that specializes in the distribution of fresh fruits and vegetables. Founded in 2016, it connects consumers directly with farmers, allowing them to purchase chemical-free and organic produce. The platform emphasizes healthy living by offering vegetables that are harvested and delivered on the same day, ensuring freshness and quality. By facilitating online orders, Sayurbox aims to make healthy eating more accessible to its users.

HiScene

Series B in 2019
HiScene focuses on researching and developing core technologies and products for augmented reality. The company is committed to be an artificial intelligence company which provides the most natural human-computer interaction and explores the deepest data value.
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