DCM Newsletter — Q4 2022
DCM Firm News
Planning to Raise in 2023? Advice from a Global VC
David Cheng and Jiariu Wang shared their perspectives on the fundraising landscape for 2023 in our most recent blog post.
US
Fountain expands into Indian market
Fountain, a high-volume hiring platform, has forayed into the Indian market post its Series C funding round of $100 million. Fountain will now enable companies to find and hire the right people faster in India, where the majority of the 500 million workforce is composed of blue- and gray-collar workers.
UJET named one of the top startups in the world for the enterprise
UJET, a cloud-based customer support platform, was named to CNBC’s list of the top 25 startups for the enterprise. The company is transforming customer experience using AI and data analytics to improve the speed and efficiency of omnichannel services.
China
imBee raises $5M in Series A
Hong Kong-based chat management system imBee raised $5M in a Series A round led by DCM. The company plans to use the new funds to scale its product internationally.
Urtopia e-bikes featured in Forbes
Urtopia’s carbon fiber e-bikes earned a stellar review in Forbes for their lightweight feel and high-tech features. DCM co-led the company’s pre-A funding round in 2022 alongside Lightspeed China.
Japan
10X demonstrates exceptional management transparency
Nikkei BizGate praised the e-grocery platform 10X for its management transparency and discussed the positive impacts this can have on a company. The article includes excerpts from CEO and founder Masatake Yamoto’s blog post, titled “Twelve Months of CEO Facing Organization and Human Resources.”
Global
Akulaku raises $200M in new funding
Jakarta-based virtual credit and installment shopping platform, Akulaku, raised $200M from Japan’s largest bank, Mitsubishi UFJ Financial Group (MUFG), as part of a strategic investment to expand product offerings into new markets. DCM was the first institutional investor in the company during its Series A in 2017.
Moove raises $30M to build its EV fleet
African mobility fintech Moove has raised $30M in a private placement Islamic bond debut arranged by Franklin Templeton’s Middle East unit. DCM participated in Moove’s Series A round.
Careem offers inter-country taxi services for the World Cup in Qatar
Rideshare app Careem offered inter-country taxi journeys for the 2022 World Cup in Qatar. As the region’s leading ride-hailing service, Careem offered services to those traveling to Qatar from cities in neighboring Saudi Arabia: Dammam and Al Ahsa City. DCM invested in Careem’s Series E round prior to their acquisition by Uber.
