In addition to funding news from Plizz and MyGate, today we also have updates from Appier and Cars24
Thailand’s Plizz raises funding, expands to legal tech vertical – Press Release
Thailand-based DIY accounting platform Plizz announced a US$300,000 seed funding round from Singapore-based VC firm REAPRA.
The company also announced its expansion to the legal tech vertical, turning it into a one-stop solution for SMEs in the country.
The funding round followed a US$200,000 funding it has received from angel investors.
In an email to e27, Plizz CEO and Co-Founder Benoît Meneau said that the funding will be used to develop automation of accounting tasks and support the launch of the new vertical.
India’s MyGate raises US$56M in Series B funding round – Press Release
MyGate, a Bangalore-based company that focussed on enhancing convenience and security in gated premises, announced that it has raised US$56 million in Series B funding from Chinese internet giant Tencent Holdings, US-based JS Capital LLC, Tiger Global Management alongside existing investor Prime Venture Partners.
MyGate enables its users in gated communities to do tasks such as communicate with neighbours, manage visitors, maintain attendance record and salary payments for daily help, discover services, and pay society maintenance bills.
In a press statement, the company said that it has seen five times growth over the past year and is now present in 1.2 million homes across 11 cities in India.
“With this fresh funding, MyGate plans to solidify its leadership position by building innovative solutions for eliminating friction in interactions between the home and the outside world, providing convenience and security to its users. The company is also focussing on increasing the efficiency of other stakeholders such as security personnel, local service providers and e-commerce companies,” it stated.
Taiwan’s Appier acquires Japanese AI company Emin – Press Release
Taiwan-based AI company Appier announced the acquisition of Emotion Intelligence (Emin), a Tokyo-based AI solutions provider that predicts online consumer purchasing behaviour.
Done “mostly” via cash deal, the value of the acquisition was undisclosed and the deal is effective immediately.
In a press statement, Emin’s platform is described as having the ability to identify which customers will definitely make a purchase and those who definitely will not. It focuses particularly on shoppers who are undecided but likely to purchase with an additional incentive in the form of a coupon with limited validity, encouraging a faster transaction.
As part of Appier, Emin will provide clients with a full suite of AI-powered marketing tools with which marketers can engage consumers across multiple channels and devices.
Indian used car marketplace Cars24 raises US$100M – ET Tech
Indian used car marketplace Cars24 has raised a US$100 million Series D funding round led by Unbound and KCK Global, according to a report by ET Tech.
Moore Strategic Ventures has also participated in the funding round.
While its valuation after the latest round was not disclosed, Cars24 was reported to have been valued at US$550 million during its previous funding rounds, which the company has raised US$100 million.
“The priority is to scale the business right now. We are in 50 cities currently and will be ending the current calendar year at 75 cities. By the end of 2020, we expect to be in 200 cities … There is a long tail in India when it comes to expansion. The top-75 cities only contribute around 65 per cent of our action,” said Cars24 COO Mehul Agrawal.