Indonesian multi-brand cloud kitchen operator Legit Group received $7.35 million from venture capital firms MDI Ventures and SMDV this week. The funding is part of the startup’s ongoing Series A round.
The latest investment brings the round total to $10.35 million. According to Legit’s regulatory filings, it could raise up to $14 million in Series A financing.
In conjunction with the round, SMDV will buy ordinary shares from existing Legit shareholders worth $325,000.
Top shareholders in Legit
Indonesian fintech startup Komunal announced an $8.5 million round led by East Ventures (Growth Fund) this week. The financing was backed by AlphaTrio Sustainable Technology Fund, Skystar Capital, Sovereign’s Capital, Ozora, and Gobi Partners.
Komunal, which seeks to digitise rural banks in the archipelago, has raised $6.5 million in new equity funding and will allocate preference shares to East Ventures (Growth Fund) worth $2 million upon conversion of previously issued notes, according to its regulatory filings in Singapore.
The lead investor provided $4 million in fresh funding, while AlphaTrio invested $1 million.
Other updates from DATA VANTAGE
Indonesian health tech startup Prixa received $3 million this week from investors, including MDI Ventures, Trans-Pacific Technology Fund and Siloam Group. The company had announced a $3 million round led by MDI Ventures in June 2021.
Biotechnology company Lion TCR received $4.3 million this week from an entity owned by Tai Hua Food Industries MD Pek Ee Perh Thomas, a Cayman Islands-registered fund and an individual investor.
Platform-as-a-service fintech startup iLex received $300k from Cell Rising Capital this week, bringing its funding so far this year to $4.55 million.
Spectrometer solutions provider Attonics, a spin-off from the National University of Singapore, received $700k from SEEDS Capital and other investors.
Liminal, which offers plug-and-play wallet infrastructure to crypto-native companies, received $50k this week from South Korean blockchain-based financial and infrastructure services provider Coinone.