Tracking Tiger Global (Week 4) | 24.01-30.01.22
11 announced deals ranging from a $5.5m Seed round to a $250m Series F round
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Welcome to the latest edition of Tracking Tiger Global, a newsletter that provides weekly updates on Tiger Global’s latest investments. Please note that the newsletter is not affiliated with Tiger Global and any of its portfolio companies and other entities mentioned below.
11 new deals with Tiger’s involvement were reported in the w/c 24 Jan. In total, Tiger Global has announced 39 deals in January…
Moglix (Singapore / India | $250m Series F | Marketplace | Tiger co-led)
Blockdaemon (US | $207m Series C | Crypto | Tiger co-led)
Veriff (Estonia | $100m Series C | SaaS | Tiger co-led)
Cowboy (Belgium | $80m Series C | Hardware | Tiger participated)
Vecna Robotics (US | $65m Series C | Hardware | Tiger led)
PortalOne (US / Norway | $60m Series A | Gaming| Tiger led)
Inventa (Brazil | $20m Series A | Marketplace | Tiger participated)
Otta (UK | $20m Series A | SaaS | Tiger led)
Ayoconnect (Indonesia | $15m Series B | Crypto | Tiger led)
Air (US | $10m Operator Round | SaaS | Tiger participated)
Oico (Brazil | $5.5m Seed | Marketplace | Tiger co-led)
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Moglix (Singapore / India | $250m Series F | Marketplace | Tiger co-led)
Founded in 2015 and headquartered in Singapore, Moglix is a B2B commerce marketplace focused on B2B procurement of industrial supplies with a primary focus on India. It raised a $250m Series F round at a $2.6bn valuation, co-led by Alpha Wave Global and Tiger Global.
According to Techcrunch, “Moglix operates a B2B marketplace and procurement platform for manufacturing goods that could be anything from a centrifugal pump to a fan to routers and pulse oximeters.” The startup runs a supply chain network of 16,000 suppliers over 40 warehouses and logistics infrastructure, serving 500,000 SMEs.
Sources: Techcrunch
Blockdaemon (US | $207m Series C | Crypto | Tiger co-led)
Founded in 2017 and headquartered in the US, Blockdaemon is the leading independent blockchain node infrastructure to stake, scale, and deploy nodes with institutional-grade security and monitoring. It raised a €207m Series C round at a $3.25bn valuation, co-led by Tiger Global and Sapphire.
Supporting 50+ cutting edge blockchain networks in the cloud and on bare metal servers globally, Blockdaemon is used by exchanges, custodians, crypto platforms, financial institutions and developers to connect commercial stakeholders to blockchains. It powers the blockchain economy by simplifying the process of deploying nodes and creating scalable enterprise blockchain solutions via APIs, high availability clusters, auto-decentralization and auto-healing of nodes.
Sources: Press release
Veriff (Estonia | $100m Series C | SaaS | Tiger co-led)
Founded in 2015 and headquartered in Estonia, Veriff is a identity verification provider. It raised $100m in Series C funding at a $1.5bn valuation, co-led by Tiger Global and Alkeon.
“Veriff enables organizations to build trust with their customers through intelligent, accurate, and automated online IDV. With the largest document specimen database on the market, Veriff's intelligent decision engine can analyze thousands of technological and behavioral variables in seconds, matching people to more than 10,000 government-issued IDs from over 190 countries and in 40 languages.
In 2021, Veriff rapidly increased verification volumes across the globe by more than 8X, and by 20X in the U.S. After two years of growing digital transactions online due to the pandemic, Veriff increased verification volume in the financial services sector by 10X in 2021, making Veriff the primary identity verification provider for 95 percent of its financial services customers.”
Source: Press release
Cowboy (Belgium | $80m Series C | Hardware | Tiger participated)
Founded in 2017 and headquartered in Belgium, Cowboy is the connected electric bike for urban riders. It raised $80m in Series C funding, co-led by Exor, HCVC and Siam Capital. Tiger Global participated in the round.
According to Techcrunch, “Cowboy today has two models of its gear-free electric bikes for sale, the C3 and C4 (retailing for £2,490; or just under $3,000). Alongside the bikes, Cowboy has developed an app that you use with the bike that provides a range of free bike-related services, such as route planning, bike tracking, diagnostics, and the ability to track your own progress and compare it against other Cowboy riders in your city.”
Sources: Techcrunch
Vecna Robotics (US | $65m Series C | Hardware | Tiger led)
Founded in 1998 and headquartered in the US, Vecna is the leader in flexible material handling automation. It raised $65m in Series C funding, co-led by Tiger Global.
Vecna’s self-driving fork trucks, pallet trucks, and tuggers –– powered by proprietary orchestration software and its command centre –– help distribution, warehousing, and manufacturing organizations automate their most critical workflows, maximize throughput and scale operations fast.
“The new financing will help fund the company's technology roadmap with new autonomous mobile robots (AMR) and software and will accelerate the fulfilment of new orders and expanded operations to address the $165B market opportunity for pallet-moving autonomy.”
Sources: Press release
PortalOne (US | $60m Series A | Gaming| Tiger led)
Founded in 2018 and headquartered in the US and Norway, PortalOne is a hybrid games platform. It raised $60m in Series A led by Tiger Global.
“Hybrid games are a new category of entertainment that seamlessly mixes games with live shows that are embedded directly inside the games. The platform’s first format is PortalOne Arcade, a retro-inspired universe that immerses the show’s guests inside original PortalOne games as well as into contemporary and “super-sized” classic games. This pairing enables users to compete directly against a show’s guests right from their mobile phones.”
Sources: Press release
Inventa (Brazil | $20m Series A | Marketplace | Tiger participated)
Founded in 2021 and headquartered in Brazil, Inventa is a B2B marketplace in Brazil. It raised $20m in Series A funding, co-led by Monashees and a16z. Tiger Global participated in the round.
According to Techcrunch, “Inventa offers a marketplace for SMEs to discover and purchase inventory. Inventa’s online platform recommends products based on actual transaction data and provides credit, in 30-, 60- and 90-day increments, to retailers. There is also a supplier side, where they can upload products, manage pricing and see what is selling and what isn’t.
One of the drivers for going after additional funding so soon (seed round was announced 3 months ago) was that Inventa is growing at over 100% month over month.”
Sources: Techcrunch
Otta (UK | $20m Series A | SaaS | Tiger led)
Founded in 2019 and headquartered in the UK, Otta is a candidate-first job search platform. It raised $20m in Series A funding led by Tiger Global.
“Designed for job seekers, the platform has over 70,000 active job listings at 3,500 of the most exciting startups, scaleups and tech giants. Otta’s matching technology pairs its 350,000 users with relevant roles based on personal preferences, skill sets and values. By adding useful insights to each job – diversity, salary, unbiased reviews and ‘Otta’s Take’ on the industry — candidates have all the information they need to find a fulfilling role. Otta lists jobs in the US, UK and Europe as well as remote opportunities. While the focus right now is on technology companies, longer-term, Otta is set to become home to jobs at all the best companies. “
According to UKtechnews, “Since launching in January 2020, the business has gone from 1,000 applications sent per month to more than 5,000 every day. The US business has already overtaken the UK in terms of growth, amassing more monthly applicants in 2 months than the UK market in 2 years.”
Source: UKtechnews, Techcrunch
Ayoconnect (Indonesia | $15m Series B | Crypto | Tiger led)
Founded in 2016 and headquartered in Singapore, Ayoconnect is Indonesia’s largest Fintech API platform. It raised $15m in Series B funding led by Tiger Global.
“Ayoconnect enables developers to choose from a wide range of financial white-label products on Ayoconnect’s API platform and quickly launch them to their users. Ayoconnect remains in the background, focused on building and operating the necessary infrastructure while allowing their clients to monetize and expand their business in a fast and massive way.
It is trusted by more than 100+ Indonesian companies as clients, including leading banks, retailers, e-commerce, fintechs, and e-wallets such as Bank BRI, Bank Mandiri, DANA, Indomaret, Bukalapak, Home Credit, Pegadaian and connects more than 1,000 institutions through its network of APIs. Ayoconnect’s APIs process more than 300 million API hits annually.”
Sources: Techinasia
Air (US | $10m Operator Round | SaaS | Tiger participated)
Founded in 2017 and headquartered in the US, Air is a creative operations system for images and videos that replaces Dropbox and Google Drive for brand-forward businesses. It raised a $10m operator round at a $110m valuation led by Headline. Tiger Global and 100+ strategic operators participated in the round.
“Air automates the mundane work of collecting, creating, tracking, and collaborating across visual assets. Users, usually marketing teams, migrate to Air from cloud storage products like Dropbox and Google Drive. These solutions do not have features to support creative workflows making real-time collaboration time-intensive and manual. Air was built for remote and hybrid work. It automates creative operations so that marketers can focus on their strategic work.”
Sources: Press release
Oico (Brazil | $5.5m Seed | Marketplace | Tiger participated)
Founded in 2020 and headquartered in Brazil, Oico is a B2B marketplace for construction materials. It raised a $5.5m seed round led by Valor Capital Group. Tiger Global.
Sources: Press release