Singapore-based cloud communications startup Toku has received $5 million in a Series A extension while India’s Acqueon has raised fresh funding from Long Ridge Equity.
Toku gets $5m in Series A extension
Singapore-based cloud communications provider Toku has received $5 million in its Series A extension bringing the total funding in this round to $10 million, it said in a statement. DealStreetAsia had earlier reported the fundraising based on regulatory filings.
The extended round was co-led by Delivery Hero Ventures and Malaysia’s OSK Ventures International with participation from Betatron Venture Group.
Founded in 2018, Toku works with brands like foodpanda, Gojek, Lenskart, and Decathlon. The company said it would use the fresh lease of funding for expansion in Malaysia, Indonesia, Hong Kong, Vietnam, South Korea and the Philippines. It is also looking to increase its staff strength to 200 by 2024.
Acqueon raises funds; Everstone part-exits
Omnichannel software firm Acqueon, which has operations in India and US, has raised capital from Long Ridge Equity Partners in a round that saw existing investor Everstone Capital exiting part of its stake.
Following the transaction, Everstone’s stake will come down from majority ownership to a minority holding.
Acqueon said it would use the fresh funding for innovation and the acquisition of new channel partners. Currently, the firm has 200 enterprise customers in BFSI, retail, healthcare and the public sector. “We hope to scale our customer base,” said Acqueon CEO Ashish Koul.
Avnish Mehra, senior managing director and co-head, private equity at Everstone Capital, said, “We incubated Acqueon within one of our tech services businesses and it has gained traction due to its technology and industry.”