BuyMed, a Southeast Asian firm focusing on B2B pharmaceutical distribution, received $19.5 million last week as part of a $33.5 million Series B funding round.
The new funding came from lead investor UOB Venture Management, South Korea’s Smilegate Investment and Cocoon Capital.
Registered in Singapore, BuyMed operates Thuocsi.vn, a digital platform that connects pharmaceutical manufacturers, distributors, logistics providers and pharmacies in Vietnam, and a fulfilment centre called Circa. The company also operates in Cambodia, Singapore and Thailand.
BuyMed recently filed its financial statement for the year ended Dec 31, 2021. Its revenue jumped over 4.6 times, while its net loss widened by more than 57% during the year.
Top shareholders in BuyMed
Another B2B pharmaceutical marketplace, Singapore-based SwipeRx, received $8.5 million in fresh funding last week, bringing the total proceeds for its Series B2 round to $10 million.
Cercano Management, formerly known as Vulcan Capital, contributed $5 million to the round, while global pharmaceutical giant Sanofi‘s health unit and SIG Venture Capital put in $2 million each.
The company’s share price is up over 49% from a $27 million Series B round announced last May, which was led by Indonesia’s MDI Ventures.
Other updates from DATA VANTAGE
Used electronics marketplace Reebelo received $7 million last week from existing shareholder Cathay Innovation as part of an extended Series A round. The firm had previously secured $20 million in the round in Feb 2022.
Singapore-based Partior, a blockchain-enabled platform for payments clearing and settlements, received $23.25 million from Standard Chartered last week, bringing its Series A total to $31 million.
Vietnam-based BNPL firm Fundiin allotted shares worth $4.8 million earlier this month to investors, including Trihill Capital, 1982 Ventures and Genesia Ventures. The firm in October announced raising $5 million in a Series A round co-led by Trihill and ThinkZone Ventures and is allocating Series A shares under previously signed CARE and SAFE agreements.
Indonesian e-commerce enabler Desty received $3.7 million last week from East Ventures (Growth Fund), Z Venture Capital and BAce Capital as part of a recent $4.35 million round.
Singapore-based electric motorcycle developer Scorpio Electric received more funding last week, bringing its total paid-up capital to date to more than $16 million.
Delivery Hero has injected more capital into its Singapore-based subsidiary, TabSquare. The latter has received over $12 million so far from Delivery Hero, which became its parent company following secondary market transactions in 2021.