UnaBiz raises $25m in Series B funding
- ByManjeet Singh | October 12, 2021
In a Series B financing round led by Japanese asset manager SPARX Group and Singapore-listed investment company GK Goh, UnaBiz, based in Singapore, has raised US$25 million.
During this round, UnaBiz said its valuation had tripled but declined to provide specifics. VentureCap Insights states that the startup was previously valued at $36.5 million in 2019.
SPARX made the investment via its Mirai Creation Fund II, a US$700 million fund focused on innovative technology, with backers including Toyota Motor Corporation and Sumitomo Mitsui Banking Corp.
Additionally, CDIB Capital Group, a venture and private equity firm in Taiwan, and Thai Oil, the largest refinery and provider of petroleum products in Thailand, participated in the Series B round.
Through M&A and local offices, UnaBiz will be able to grow its presence in Japan, South-east Asia, and the EMEA (Europe, Middle East, and Africa) region. On being asked about the type of M&A targets the company is looking for, it responded that it is seeking “vertical experts with a proven track record of deploying their solutions in South-east Asia or Europe”.
According to Henri Bong, founder and CEO of UnaBiz, the IoT industry has become fragmented, and it is our mission to eliminate all frictions and enable massive IoT, from 0G to 5G.
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