Startups continue to raise funds amid Covid-19

Singapore

STARTUPS in South-east Asia have continued to close funding rounds despite the slowdown in investor activity due to the economic impact of Covid-19. Companies from logistics service providers to marketplace operators on Monday announced capital raises to support their expansion.

BuyMed, the Vietnamese startup behind pharma distribution marketplace thuocsi.vn, has bagged US$2.5 million in pre-Series A funds. The funding round was led by Sequoia Capital India's accelerator programme Surge and Genesia Ventures, with participation from existing investor Cocoon Capital.