Vertex Ventures Southeast Asia & India

Vertex Ventures Southeast Asia & India is a corporate venture capital firm based in Singapore, established in 2010 as a part of Vertex Holdings. The firm focuses on investing in high-growth startups that are seeking their initial round of institutional venture capital funding, primarily in Southeast Asia and India. Key markets of interest include Singapore, India, Indonesia, and Thailand, as well as other emerging innovation hubs in the region. Vertex Ventures Southeast Asia & India leverages a network of venture funds across the United States, China, and Israel, allowing it to combine local market expertise with a global perspective to support the development of promising startups.

Joshua Agusta

Executive Director, Investments

Gary Khoeng

Partner, Investments

Puiyan Leung

Partner, Investments

Genping Liu

Partner

Nikhil Marwaha

Senior Executive Director

Ben Mathias

Managing Partner

Kanika Mayar

Partner, Investment and ESG Officer

Past deals in ASEAN

CoolMate

Series B in 2024
CoolMate is a Vietnamese menswear brand that specializes in a diverse range of apparel and accessories for men, including sportswear, office attire, and everyday clothing. The company operates exclusively online, utilizing its own e-commerce website as well as popular e-commerce platforms in Vietnam. Headquartered in Hanoi and Ho Chi Minh City, CoolMate focuses on the design, weaving, dyeing, cutting, and finishing of various products such as t-shirts, underwear, shorts, joggers, caps, and belts. By offering stylish and trendy options at reasonable prices, CoolMate aims to meet the fashion needs of modern men in Vietnam.

Sirclo

Series C in 2023
SIRCLO is an Indonesian e-commerce enabler that assists businesses in establishing a robust online presence. The company provides a range of solutions tailored for both entrepreneurs and enterprises, including SIRCLO Store, IbuSibuk, SIRCLO Commerce, ICUBE by SIRCLO, Sooplai, and Orami. These offerings encompass website development, e-commerce management, and communication tools, allowing clients to streamline their online sales across various platforms, such as websites and marketplaces. With a workforce of around 1,000 employees, SIRCLO has successfully supported over 100,000 brands in their digital transformation efforts. The company operates from multiple locations, including Bandung, Yogyakarta, and Surabaya.

Janio

Series B in 2023
Janio is a logistics company that specializes in cross-border delivery services in Southeast Asia. Founded in 2018 and headquartered in Singapore, Janio aims to simplify the logistics process by integrating various elements of the supply chain and forming strategic partnerships with a broad network of quality service providers. The company offers a range of services, including warehousing, home delivery, reverse logistics, cross-border shipping, and last-mile delivery. Through its proprietary data-driven platform, Janio enables clients to connect with logistics partners and maintain control over their supply chains. Its operations extend across several key markets in Asia, including Indonesia, Malaysia, Taiwan, Mainland China, and Thailand, facilitating timely and reliable movement of shipments with real-time tracking capabilities.

METUB

Venture Round in 2023
METUB Network is a digital entertainment company based in Ho Chi Minh City, Vietnam, focused on supporting artists, creators, and video producers. It operates an online platform that allows creators to register, create, upload, and share videos while also monetizing their content. Additionally, METUB Network offers a range of services, including channel development consulting, copyright protection, and promotional tools to help creators expand their audience and enhance their content. The company manages over 3,000 YouTube channels and generates more than 4 billion views monthly, positioning itself as a leading video and talent network in Vietnam. Through its various services, METUB Network enables creators to turn their passions into sustainable careers and fosters a vibrant community of content creators.

Validus Investment Holdings

Series C in 2022
Validus Capital is a fintech company focused on providing growth financing to underserved small and medium enterprises (SMEs) in the ASEAN region, including Singapore, Indonesia, Vietnam, and Thailand. The company utilizes data and artificial intelligence to enhance the financing process, facilitating access to secured short-term and medium-term credit. Through its online marketplace, Validus employs a peer-to-peer lending model that connects SMEs with accredited investors, enabling businesses to secure financing efficiently while minimizing costs associated with financial intermediation. Validus is committed to driving inclusive economic growth by partnering with corporations to support SME ecosystems and holds regulatory licenses from authorities such as the Monetary Authority of Singapore and Indonesia's OJK.

Propseller

Series A in 2022
Propseller Pte. Ltd., established in 2018, is a Singapore-based real estate agency that leverages technology to streamline property transactions. It matches clients with suitable real estate agents based on reviews, historical transactions, and commission rates. Propseller's platform provides users with real-time conversion likelihood, enabling property owners to sell at competitive commission rates as low as 1%. The company aims to make real estate transactions more efficient and data-driven for both sellers and buyers.

Pintarnya

Seed Round in 2022
Pintarnya is a mobile application designed to enhance employment and financial opportunities for millions of blue-collar workers in Indonesia. The platform operates as a job portal that connects job seekers with potential employers using a data-driven approach. It allows users to create straightforward resumes and apply for curated job opportunities tailored to their skills and geographic location. By streamlining the hiring process, Pintarnya aims to make it more efficient for both job seekers and employers, ultimately facilitating better employment outcomes for blue-collar workers in the region.

Dailybox

Series B in 2022
Dailybox Group is an online restaurant startup with multiple brands. Its product line includes Dailybox (a rice box that serves comfort food), Shirato (a sushi-burrito fusion concept), Breadlife (a well-known bread brand in Indonesia), and Dailymeals (ready-to-heat food). It was founded in 2018 with the goal of providing a wide range of fast and affordable dishes. Its brand is comprised of two words: "Daily" and "Box," which emphasizes its mission to be a chain F&B brand that can serve customers on a variety of menus on a daily basis in a very practical manner.

Janio

Series A in 2022
Janio is a logistics company that specializes in cross-border delivery services in Southeast Asia. Founded in 2018 and headquartered in Singapore, Janio aims to simplify the logistics process by integrating various elements of the supply chain and forming strategic partnerships with a broad network of quality service providers. The company offers a range of services, including warehousing, home delivery, reverse logistics, cross-border shipping, and last-mile delivery. Through its proprietary data-driven platform, Janio enables clients to connect with logistics partners and maintain control over their supply chains. Its operations extend across several key markets in Asia, including Indonesia, Malaysia, Taiwan, Mainland China, and Thailand, facilitating timely and reliable movement of shipments with real-time tracking capabilities.

Dedoco

Seed Round in 2022
Dedoco is a Singapore-based technology company that provides a secure digital workflow management platform. It ensures privacy and tamper-proof verification of documents using blockchain technology, enabling businesses to digitize their processes without compromising data security or trust. Dedoco holds ISO/IEC 27001:2013 certification for its information security management system and is accredited by Singapore's Infocomm Media Development Authority (IMDA). It has been recognized for its innovative use of blockchain with the 2022 Innovation Index Award.

RateS

Series A in 2022
RateS is a social commerce startup operating in rural Indonesia, specifically targeting Tier-2 and Tier-3 cities. The company has developed a membership-based platform that enables individuals to start businesses without the need for inventory. By allowing members to set up mobile shops with minimal capital investment, RateS provides opportunities for students, housewives, and aspiring entrepreneurs to generate income. The platform also offers various inventory management tools, facilitating a seamless business experience for its users. Through its innovative approach, RateS aims to empower individuals in underserved areas to achieve financial independence and entrepreneurship.

Sunday

Series B in 2021
Founded in Thailand in 2017, Sunday is the first full-stack InsurTech group adopting data models and technology to offer multiple insurance products and services across the entire customer journey. The company provides auto insurance, health insurance, and travel insurance. Sunday reinvents the entire insurance offering and experience to ensure that customers' needs are met anytime, anywhere.

Dailybox

Series A in 2021
Dailybox Group is an online restaurant startup with multiple brands. Its product line includes Dailybox (a rice box that serves comfort food), Shirato (a sushi-burrito fusion concept), Breadlife (a well-known bread brand in Indonesia), and Dailymeals (ready-to-heat food). It was founded in 2018 with the goal of providing a wide range of fast and affordable dishes. Its brand is comprised of two words: "Daily" and "Box," which emphasizes its mission to be a chain F&B brand that can serve customers on a variety of menus on a daily basis in a very practical manner.

Dailybox

Series A in 2021
Dailybox Group is an online restaurant startup with multiple brands. Its product line includes Dailybox (a rice box that serves comfort food), Shirato (a sushi-burrito fusion concept), Breadlife (a well-known bread brand in Indonesia), and Dailymeals (ready-to-heat food). It was founded in 2018 with the goal of providing a wide range of fast and affordable dishes. Its brand is comprised of two words: "Daily" and "Box," which emphasizes its mission to be a chain F&B brand that can serve customers on a variety of menus on a daily basis in a very practical manner.

Dedoco

Seed Round in 2021
Dedoco is a Singapore-based technology company that provides a secure digital workflow management platform. It ensures privacy and tamper-proof verification of documents using blockchain technology, enabling businesses to digitize their processes without compromising data security or trust. Dedoco holds ISO/IEC 27001:2013 certification for its information security management system and is accredited by Singapore's Infocomm Media Development Authority (IMDA). It has been recognized for its innovative use of blockchain with the 2022 Innovation Index Award.

RateS

Series A in 2021
RateS is a social commerce startup operating in rural Indonesia, specifically targeting Tier-2 and Tier-3 cities. The company has developed a membership-based platform that enables individuals to start businesses without the need for inventory. By allowing members to set up mobile shops with minimal capital investment, RateS provides opportunities for students, housewives, and aspiring entrepreneurs to generate income. The platform also offers various inventory management tools, facilitating a seamless business experience for its users. Through its innovative approach, RateS aims to empower individuals in underserved areas to achieve financial independence and entrepreneurship.

Sunday

Series A in 2020
Founded in Thailand in 2017, Sunday is the first full-stack InsurTech group adopting data models and technology to offer multiple insurance products and services across the entire customer journey. The company provides auto insurance, health insurance, and travel insurance. Sunday reinvents the entire insurance offering and experience to ensure that customers' needs are met anytime, anywhere.

Validus Investment Holdings

Series B in 2020
Validus Capital is a fintech company focused on providing growth financing to underserved small and medium enterprises (SMEs) in the ASEAN region, including Singapore, Indonesia, Vietnam, and Thailand. The company utilizes data and artificial intelligence to enhance the financing process, facilitating access to secured short-term and medium-term credit. Through its online marketplace, Validus employs a peer-to-peer lending model that connects SMEs with accredited investors, enabling businesses to secure financing efficiently while minimizing costs associated with financial intermediation. Validus is committed to driving inclusive economic growth by partnering with corporations to support SME ecosystems and holds regulatory licenses from authorities such as the Monetary Authority of Singapore and Indonesia's OJK.

HappyFresh

Series C in 2019
HappyFresh is a leading online grocery company based in Jakarta, Indonesia, with operations extending to Malaysia and Thailand since its establishment in 2015. The company aims to simplify the grocery shopping experience by providing a platform where customers can order groceries from local stores and have them delivered directly to their doors. With a focus on high-quality service, HappyFresh employs trained personal shoppers who ensure that customers receive fresh and carefully selected products. This approach alleviates the challenges associated with traditional grocery shopping, such as parking, navigating aisles, and carrying heavy bags, allowing customers to save time and enjoy a more convenient shopping experience. HappyFresh has gained recognition as one of Asia's best companies to work for, reflecting its commitment to both customer satisfaction and employee welfare.

TurnKey Lender

Series A in 2019
Turnkey Lender is a global technology company that specializes in developing and marketing cloud-based platforms for automating lending processes. Established in 2014, the company offers modular solutions that cater to various lending sectors, including consumer lending, microfinance, payday loans, and more. Its AI-powered software automates the entire lending process, from origination and underwriting to loan servicing, debt collection, and reporting. Turnkey Lender serves innovative lenders in over 50 countries, with offices in the US, Singapore, Malaysia, Ukraine, and Poland.

Validus Investment Holdings

Series B in 2019
Validus Capital is a fintech company focused on providing growth financing to underserved small and medium enterprises (SMEs) in the ASEAN region, including Singapore, Indonesia, Vietnam, and Thailand. The company utilizes data and artificial intelligence to enhance the financing process, facilitating access to secured short-term and medium-term credit. Through its online marketplace, Validus employs a peer-to-peer lending model that connects SMEs with accredited investors, enabling businesses to secure financing efficiently while minimizing costs associated with financial intermediation. Validus is committed to driving inclusive economic growth by partnering with corporations to support SME ecosystems and holds regulatory licenses from authorities such as the Monetary Authority of Singapore and Indonesia's OJK.

Warung Pintar Group

Series A in 2019
Warung Pintar Group is a micro retail technology company focused on digitalizing grassroots businesses in Indonesia. The company aims to empower underserved communities by enhancing the quality of street stalls through innovative solutions. Warung Pintar offers smart kiosk stores that feature modern amenities such as digital point-of-sale systems, free Wi-Fi, LCD screens, and power bank chargers. By leveraging data processing and analysis, the company provides valuable insights for financial inclusion and community engagement, fostering opportunities for social security and behavior analysis. Additionally, Warung Pintar assists aspiring entrepreneurs in securing land and funding to establish new shops, ultimately contributing to local economic development and impact monitoring within the community.

CloudCherry

Series A in 2018
CloudCherry is the next generation Experience Management platform that is disrupting the way organizations listen to the Voice of Customer. Through CloudCherry’s flexible, customizable, self-serve solution, businesses today can be present at every step of today’s complex customer journeys, and listen to customers through a variety of ways. Today, leading global organizations deploy and scale their experience management program with CloudCherry quicker than any other solution. The product offers out-of-the-box integrations with existing business applications, delivers predictive, prescriptive insights that enable business leaders to better understand customer needs, and derive tangible business outcomes that can help drive true ROI. CloudCherry is based out of Salt Lake City, with offices in Singapore, India & Dubai. The company is backed by Vertex Ventures, CISCO Investments & IDG Ventures India, The Chennai Angels & Capillary Technologies.

Sunday

Series A in 2018
Founded in Thailand in 2017, Sunday is the first full-stack InsurTech group adopting data models and technology to offer multiple insurance products and services across the entire customer journey. The company provides auto insurance, health insurance, and travel insurance. Sunday reinvents the entire insurance offering and experience to ensure that customers' needs are met anytime, anywhere.

Warung Pintar Group

Seed Round in 2018
Warung Pintar Group is a micro retail technology company focused on digitalizing grassroots businesses in Indonesia. The company aims to empower underserved communities by enhancing the quality of street stalls through innovative solutions. Warung Pintar offers smart kiosk stores that feature modern amenities such as digital point-of-sale systems, free Wi-Fi, LCD screens, and power bank chargers. By leveraging data processing and analysis, the company provides valuable insights for financial inclusion and community engagement, fostering opportunities for social security and behavior analysis. Additionally, Warung Pintar assists aspiring entrepreneurs in securing land and funding to establish new shops, ultimately contributing to local economic development and impact monitoring within the community.

SOCASH

Series A in 2018
SOCASH Pte Ltd. is a Singapore-based company founded in 2016 that operates a digital platform facilitating cash transactions without the reliance on traditional banking infrastructure such as ATMs or branches. The application allows users to withdraw and deposit cash by placing orders and selecting local merchants or neighborhood shops for fulfillment. This innovative approach not only enhances cash circulation but also provides an opportunity for shop owners to increase their revenue and attract more customers. SOCASH's services extend beyond Singapore, as the company is also operational in Indonesia and Malaysia, contributing to a broader regional cash and digital payment ecosystem.

TurnKey Lender

Series A in 2017
Turnkey Lender is a global technology company that specializes in developing and marketing cloud-based platforms for automating lending processes. Established in 2014, the company offers modular solutions that cater to various lending sectors, including consumer lending, microfinance, payday loans, and more. Its AI-powered software automates the entire lending process, from origination and underwriting to loan servicing, debt collection, and reporting. Turnkey Lender serves innovative lenders in over 50 countries, with offices in the US, Singapore, Malaysia, Ukraine, and Poland.

Validus Investment Holdings

Venture Round in 2017
Validus Capital is a fintech company focused on providing growth financing to underserved small and medium enterprises (SMEs) in the ASEAN region, including Singapore, Indonesia, Vietnam, and Thailand. The company utilizes data and artificial intelligence to enhance the financing process, facilitating access to secured short-term and medium-term credit. Through its online marketplace, Validus employs a peer-to-peer lending model that connects SMEs with accredited investors, enabling businesses to secure financing efficiently while minimizing costs associated with financial intermediation. Validus is committed to driving inclusive economic growth by partnering with corporations to support SME ecosystems and holds regulatory licenses from authorities such as the Monetary Authority of Singapore and Indonesia's OJK.

Singapore Diamond Investment Exchange

Series B in 2017
Singapore Diamond Investment Exchange (SDiX), based in Singapore, pioneers the world's first commodity exchange for physically settled diamonds. It operates an online platform facilitating electronic trading of diamonds, offering increased liquidity and a genuine price discovery mechanism. Buyers can place bids according to diamond categories, with all traded stones certified directly through the platform.

CloudCherry

Series A in 2016
CloudCherry is the next generation Experience Management platform that is disrupting the way organizations listen to the Voice of Customer. Through CloudCherry’s flexible, customizable, self-serve solution, businesses today can be present at every step of today’s complex customer journeys, and listen to customers through a variety of ways. Today, leading global organizations deploy and scale their experience management program with CloudCherry quicker than any other solution. The product offers out-of-the-box integrations with existing business applications, delivers predictive, prescriptive insights that enable business leaders to better understand customer needs, and derive tangible business outcomes that can help drive true ROI. CloudCherry is based out of Salt Lake City, with offices in Singapore, India & Dubai. The company is backed by Vertex Ventures, CISCO Investments & IDG Ventures India, The Chennai Angels & Capillary Technologies.

HappyFresh

Series B in 2016
HappyFresh is a leading online grocery company based in Jakarta, Indonesia, with operations extending to Malaysia and Thailand since its establishment in 2015. The company aims to simplify the grocery shopping experience by providing a platform where customers can order groceries from local stores and have them delivered directly to their doors. With a focus on high-quality service, HappyFresh employs trained personal shoppers who ensure that customers receive fresh and carefully selected products. This approach alleviates the challenges associated with traditional grocery shopping, such as parking, navigating aisles, and carrying heavy bags, allowing customers to save time and enjoy a more convenient shopping experience. HappyFresh has gained recognition as one of Asia's best companies to work for, reflecting its commitment to both customer satisfaction and employee welfare.

HappyFresh

Series A in 2015
HappyFresh is a leading online grocery company based in Jakarta, Indonesia, with operations extending to Malaysia and Thailand since its establishment in 2015. The company aims to simplify the grocery shopping experience by providing a platform where customers can order groceries from local stores and have them delivered directly to their doors. With a focus on high-quality service, HappyFresh employs trained personal shoppers who ensure that customers receive fresh and carefully selected products. This approach alleviates the challenges associated with traditional grocery shopping, such as parking, navigating aisles, and carrying heavy bags, allowing customers to save time and enjoy a more convenient shopping experience. HappyFresh has gained recognition as one of Asia's best companies to work for, reflecting its commitment to both customer satisfaction and employee welfare.

Singapore Diamond Investment Exchange

Series A in 2015
Singapore Diamond Investment Exchange (SDiX), based in Singapore, pioneers the world's first commodity exchange for physically settled diamonds. It operates an online platform facilitating electronic trading of diamonds, offering increased liquidity and a genuine price discovery mechanism. Buyers can place bids according to diamond categories, with all traded stones certified directly through the platform.

Grab

Series C in 2014
Grab Holdings Inc., headquartered in Singapore, operates a mobile technology platform that integrates city transportation and various on-demand services in Southeast Asia. The company, founded in 2012 by Anthony Tan and Tan Hooi Ling, offers services such as ride-hailing (GrabTaxi, GrabCar), carpooling (GrabHitch, GrabShare), shuttle services (GrabShuttle, GrabShuttle Plus), and food delivery through its GrabFood platform. Grab also provides financial services, including payments, consumer loans, and enterprise offerings. It operates in eight countries: Singapore, Indonesia, Philippines, Malaysia, Thailand, Vietnam, and Myanmar. Grab generates revenue by charging commissions to both consumers and service providers, with ride-hailing and food delivery contributing to 89% of its total revenue. The company competes with Foodpanda and Gojek in the region.

PatSnap

Series A in 2014
PatSnap is an innovation intelligence platform established in 2007 and based in Singapore. It provides artificial intelligence-driven insights aimed at empowering innovators to make informed decisions throughout the product development lifecycle. Serving over 10,000 customers across more than 50 countries, PatSnap specializes in delivering comprehensive market, technology, and competitive intelligence, alongside patent analysis. Its platform facilitates the identification of new opportunities, assessment of risks, and tracking of competitors, thereby supporting informed R&D decisions and enhancing the commercialization of products.

Grab

Series B in 2014
Grab Holdings Inc., headquartered in Singapore, operates a mobile technology platform that integrates city transportation and various on-demand services in Southeast Asia. The company, founded in 2012 by Anthony Tan and Tan Hooi Ling, offers services such as ride-hailing (GrabTaxi, GrabCar), carpooling (GrabHitch, GrabShare), shuttle services (GrabShuttle, GrabShuttle Plus), and food delivery through its GrabFood platform. Grab also provides financial services, including payments, consumer loans, and enterprise offerings. It operates in eight countries: Singapore, Indonesia, Philippines, Malaysia, Thailand, Vietnam, and Myanmar. Grab generates revenue by charging commissions to both consumers and service providers, with ride-hailing and food delivery contributing to 89% of its total revenue. The company competes with Foodpanda and Gojek in the region.

Grab

Series A in 2013
Grab Holdings Inc., headquartered in Singapore, operates a mobile technology platform that integrates city transportation and various on-demand services in Southeast Asia. The company, founded in 2012 by Anthony Tan and Tan Hooi Ling, offers services such as ride-hailing (GrabTaxi, GrabCar), carpooling (GrabHitch, GrabShare), shuttle services (GrabShuttle, GrabShuttle Plus), and food delivery through its GrabFood platform. Grab also provides financial services, including payments, consumer loans, and enterprise offerings. It operates in eight countries: Singapore, Indonesia, Philippines, Malaysia, Thailand, Vietnam, and Myanmar. Grab generates revenue by charging commissions to both consumers and service providers, with ride-hailing and food delivery contributing to 89% of its total revenue. The company competes with Foodpanda and Gojek in the region.

Biolidics

Series B in 2013
Biolidics Limited is a medical technology company based in Singapore that specializes in the development of cell enrichment systems for cancer-related applications, including diagnosis, prognosis, treatment selection, and monitoring. Founded in 2009, the company has created the ClearCell FX1 System, an automated in vitro diagnostic device designed to separate and enrich cancer cells from blood samples. Biolidics engages in research, development, and marketing in the fields of biotechnology, life sciences, and medical technology, serving a diverse clientele that includes academic institutions, hospitals, and laboratories across Singapore, China, Hong Kong, Japan, the United States, and European Union countries. The company also collaborates strategically with Sysmex Corporation and generates significant revenue from its laboratory services segment, which provides essential laboratory operations and services to various customers.
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