Indonesian restaurant tech startup Esensi Solusi Buana (ESB) on Monday announced securing $29 million in a Series B round.
DealStreetAsia had first reported the funding hours ahead of the company announcement, citing its regulatory filings.
Lead investor Northstar Group contributed $16.2 million, while Alpha JWC Ventures invested about $5.5 million. Other investors in the round included AC Ventures, BEENEXT and Vulcan Capital.
Following the financing, AC Ventures is the largest shareholder in the firm, followed by Northstar.
According to its filing, the firm plans to buy back some shares from investors including Steven Tjan of Boga Group, AC Ventures (the original investor was Agaeti Venture Capital, which merged with Convergence Ventures in 2020 to form AC Ventures), and Indonesian food and beverage retailer Sour Sally. Following the share buyback and an ESOP pool increase, Northstar will become ESB’s largest shareholder.
Top shareholders in ESB
Singapore-based health tech startup AiTreat, which designs and integrates assistive medical robots to help medical professionals deliver quality care, has secured $2 million in a Series A2 round of funding.
Chinese robotics company Flexiv, which became a unicorn in June after a $100 million financing, invested $1.2 million in the round.
Other updates from DATA VANTAGE
Singapore-based Neuroncredit Pte, the parent company of Indonesia’s fintech lending firm Kredit Pintar, bagged $20 million from parent firm Advance Intelligence Group last week. The latest transaction brings its funding this year to $64 million.
Beam Mobility, which operates e-scooters and e-bikes in Southeast Asia, Australia, New Zealand and South Korea, received $3 million last week from Japan Airlines & TransLink Innovation Fund. It had in February announced raising $92 million in a Series B round led by private equity firm Affirma Capital.
Vietnamese edtech startup VUIHOC has raised $2 million in a pre-Series A funding round. The fresh financing was led by Ant Group-backed venture capital firm BAce Capital.
Grab-and-go coffee chain Flash Coffee allotted shares worth $2 million to Vulpes and OurCrowd as part of its Series B1 round.
Quantified Energy Labs (QE Labs), which develops and commercialises aerial solar solutions for the photovoltaic industry, received $1.5 million last week. It had announced securing the financing from Liu Xiaosong, the co-founder of Chinese tech giant Tencent, earlier this month.
B2B food tech company Sophie’s Bionutrients has allotted ordinary shares worth $274,600 to Taiwanese food company Hsin Tung Yang. The Taipei-based company now owns an over 2% stake in the startup.
Agritech startup Archisen received nearly $360,000 from SGInnovate last week.
Glade Brook Capital partner Linda Guo joined social commerce startup Kitabeli’s board of directors last week. The Indonesian firm had announced a $20 million Series B round led by Glade Brook in July.