Newsletter | May 2023

5 May 2023

Hong Kong’s BioMed Raised US$2 Million | Khazanah Nasional: ‘All Malaysia’ Approach for Startups | TaqwaTechThursdays | Eid Mubarak from Gobi Partners


MAY 2023


Hong Kong’s BioMed Raised US$2 million in Oversubscribed Seed Round
The funding will be used to solidify its strategic position as a total microbiome health management leader and expand across Mainland China and Asia.
Indonesia’s Travelio Raises an Undisclosed Series C Funding Led by a Large Korean Financial Group
The upround saw participation from new investors such as Korea’s DAOL Ventures (former KTB), Orzon Ventures (powered by Thailand Conglomerate PTTOR and 500 Global) and Appworks from Taiwan. (Travelio Co-founder and Chief Strategy Officer, Christina Suriadjaja was also one of the founders featured in Gobi’s ‘Women of Gobi’ series. Read the article HERE.)

Indonesia’s Bukalapak Acquires Majority Stake in Malaysian Shopping Aggregator iPrice
With a mission of helping people save money, iPrice lets shoppers compare prices, promotions, and discounts across a catalogue of eight billion offers from thousands of sellers and merchants. Through the acquisition, the startup believes it can now leverage Bukalapak’s expertise to expand its services across new verticals.

Drone Firm Aerodyne to Pick Citigroup for Funding Round
Aerodyne is looking to raise between US$150 to US$200 million and aims to make its first close in mid-year, ahead of an IPO in 2024 or 2025. It also expects to achieve unicorn status once its series C round closes.


Gobi Recognised as One of the Most Active Investors in Southeast Asia

Gobi Partners has been acknowledged as a top investor in Southeast Asia, with Tech in Asia citing the firm’s 24 new deals within the last 24 months. 
Breakeven is Near for Malaysian Unicorn, CARSOME, Says CEO Eric Cheng
Malaysia-headquartered used car e-commerce platform CARSOME is confident to break even this year, supported by its consistent growth in transaction volume, better margin potential, and disciplined cost control measures.

Malaysia’s Care Concierge to Uplift Two Segments with GDIV Funding
The first will focus on the development of professional and certified caregivers through the establishment of the “Care Concierge Academy,” which will provide upskilling opportunities and a clear career path for professional caregivers and the second will be channeled towards the enhancement of the “Care Concierge App” with advanced technology.

Intellia Launches AI-Powered Vetting and Project Delivery Platform
Intellia offers on-demand, remote analysts that can be deployed within 24 hours, saving companies 80% on recruiting and advisory budgets through its proprietary AI-driven analyst vetting, training, and quality control platform. Businesses can hire remote analysts, and teams or explore deeper consulting services.

Funding Societies Partners Food Market Hub, Supply Bunny to Launch Financing Program for F&B in Malaysia
Powered by Funding Societies, the embedded financing in this tripartite partnership enables the 3,000 food and beverage operators on Food Market Hub’s platform to receive their inventory orders from the 800 suppliers on Supply Bunny’s platform seamlessly.

Beam to Expand into Borneo
The inclusion of Beam e-scooters is expected to improve the travel and tourism industry in Borneo and is set to provide a sustainable and eco-friendly transportation alterntive to the public.

Savyour Inks MoU with Indus Hospital to Provide Free-of-Cost Healthcare
Launched in 2020, Savyour has become Pakistan’s largest rewards and cashback platform with more than 650 brands on-board across the nation, online and in-store. As part of the MoU, Savyour matches and donates the total cashback amount earned by its consumers to IHHN throughout the holy month of Ramadan.


Three Gobi Companies Featured as 50 Rising Startups in Indonesia

Gobi‘s portfolio companies, including the online short-term home rental marketplace, Travelio; the Peer-to-Peer lending services of Komunal; and the leading sports booking platform, DOOgether, have been recognised as part of Tech in Asia’s prestigious list of 50 rising startups in Indonesia.
Khazanah Nasional: ‘All Malaysia’ Approach for Startups
By partnering with VC managers and ecosystem players with a proven track record, the right expertise, and complementary strategic value propositions, Khazanah managing director Datuk Amirul Feisal Wan Zahir said risks associated with early-stage venture capital investing can be mitigated. Just last month, Khazanah announced its partnership with Gobi through the Gobi Dana Impak Ventures Fund.

Gobi Partners Eyes More AI Opportunities
“We realise that a lot of these generative AI startups exist in developed markets. It’s harder to find them in Southeast Asia. The combination of technical sophistication, big data requirements, and the high cost of GPT training are key reasons why a lot of these startups exist only in developed markets,” said Gobi Senior Partner, Kay Mok Ku during an interview with Deal Street Asia.


Digitalisation has been on the rise in Pakistan, changing how businesses operate and Fatima Gobi Ventures’ TaqwaTech purpose-driven investment strategy presents an excellent opportunity for tech startups to come forward and bring positive changes.

During the whole month of Ramadan, we showcase our companies that drive innovation, and growth as well as contribute to the community’s betterment through our weekly initiative, TaqwaTech Thursdays, featuring our Gobi Partners Vice President, Taraec Hussein, and our Fatima Gobi Ventures co-founders, Omair Ansari (Abhi), Faisal Zahid (Zarya App), Fahad Kamr (Udhaar Book).

Click on the images above to read the articles.


Sunway Sustainable Executive Leadership Programme
Sustainability is the way forward and our Co-founder and Chairperson, Thomas G. Tsao, had the honour of delivering a captivating presentation on “Sustainable Innovation: Build, Acquire, or Co-Create” during the Sunway Sustainable Executive Leadership Programme where he delved into a wide range of topics, including Gobi’s partnership with Sunway iLabs and our active contribution to Sunway‘s thriving ecosystem. 
Thomas G. Tsao at ‘Southeast Asia’s Digital Decade’
Aligned with his love for education and empowering the next generation, Thomas G. Tsao recently took part in a thought-provoking virtual panel discussing ‘Southeast Asia’s Digital Decade’ organised by The SEA Exchange, consisting of a group of Southeast Asian students from America-based prestigious universities such as Harvard University, Stanford University, Yale University, and Duke University.


Eid Mubarak from Gobi Partners!
May the blessings of kindness, patience, and love be bestowed upon you. Eid Mubarak!

From all of us at Gobi Partners.
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