{"id":761,"date":"2020-07-29T00:00:00","date_gmt":"2020-07-29T00:00:00","guid":{"rendered":"https:\/\/markupbackup.wordpress.com\/2021\/07\/21\/durians-daily-67-emq-raises-us20-million-series-b-funding-zenysis-works-with-the-global-fund\/"},"modified":"2021-07-23T07:39:51","modified_gmt":"2021-07-23T07:39:51","slug":"durians-daily-67-emq-raises-us20-million-series-b-funding-zenysis-works-with-the-global-fund","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=761","title":{"rendered":"Daily Markup #67: EMQ raises US$20 million Series B funding; Zenysis works with The Global Fund\u2026"},"content":{"rendered":"<figure><img decoding=\"async\" data-width=\"493\" data-height=\"533\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/1dyCUDnx3C5-1EDAoPHwe3A.png\"><\/figure>\n<p><strong>Successful Series B<\/strong><\/p>\n<ul>\n<li>Hong Kong-based and 500-backed cross-border financial settlement company <a href=\"https:\/\/emq.com\/\" target=\"_blank\" rel=\"noopener\">EMQ<\/a> has raised US$20 million in Series B funding.<\/li>\n<li>The round saw participation from new and existing investors that include AppWorks, Abu Dhabi Capital, DG Ventures, Intudo Ventures, VS Partners, January Capital, Hard Yaka, Vectr Fintech Partners, Quest Ventures, and Sparklabs.<\/li>\n<li>The company will use the investment to further accelerate its international growth, product development, and licensing activities across Asia, Europe, and the Americas.<\/li>\n<li>At the moment, EMQ\u2019s technologies are being deployed across the Asia-Pacific, Africa, Europe, and North America.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1000\" data-height=\"668\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7da298e17a.jpg\"><figcaption class=\"wp-caption-text\">Credit: Tech in\u00a0Asia<\/figcaption><\/figure>\n<ul>\n<li>\u201cAs we look to the future, we will continue to invest significantly towards constant innovation of our cross-border solutions and compliance capabilities, to deliver additional value to the global payments ecosystem and capitalise on the explosive growth of the cross-border business-to-business payments market\u200a\u2014\u200avalued to exceed US$218 trillion by 2020,\u201d says co-founder and CEO of EMQ, Max Liu.<\/li>\n<li>Congratulations on a successful funding round, team EMQ!<\/li>\n<\/ul>\n<p><strong>Data against pandemic<\/strong><\/p>\n<ul>\n<li>Through data, 500-backed <a href=\"https:\/\/www.zenysis.com\/\" target=\"_blank\" rel=\"noopener\">Zenysis<\/a> and The Global Fund are helping the ministries of health in Zambia and Rwanda counter the adverse implications of the coronavirus pandemic.<\/li>\n<li>The partnership will see the <a href=\"https:\/\/www.theglobalfund.org\/en\/blog\/2020-07-21-strengthening-data-systems-to-save-lives\/#globalhealth\" target=\"_blank\" rel=\"noopener\">development<\/a> of an \u201cinnovative platform that aims to harness the power of quality data to strengthen health programs and save lives\u201d.<\/li>\n<li>The platform will consolidate fragmented health and logistics data in one accessible workplace, allowing government bodies and NGOs to get vital and accurate information without delay.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"700\" data-height=\"700\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/1CYtxwjZzv1VjoQBt0fyLFg.jpg\"><figcaption class=\"wp-caption-text\">Credit: Financial Times<\/figcaption><\/figure>\n<ul>\n<li>Zenysis has been at the frontlines of the fight against widespread pandemics, lending its expertise in data analytics to governments and corporations.<\/li>\n<li>Jonathan Stambolis, CEO of Zenysis, told <a href=\"https:\/\/www.gavi.org\/vaccineswork\/qa-jonathan-stambolis-ceo-zenysis\" target=\"_blank\" rel=\"noopener\">Gavi.org<\/a> that virtual control rooms have been set up in some of the countries they\u2019re working with. These rooms provide decision-makers with real-time analytics on test results coming in from laboratories, supply chain data on the availability of diagnostic kits, personal protective equipment and ventilators, human resources data, population mobility data, and more.<\/li>\n<li>Last year, Zenysis helped to mitigate the cholera outbreak in Mozambique, proving that efficient data analysis is key to helping governments make informed decisions during a crisis.<\/li>\n<\/ul>\n<p><strong>Mushrooms FTW<\/strong><\/p>\n<ul>\n<li>500-backed <a href=\"https:\/\/www.mycl.bio\/\" target=\"_blank\" rel=\"noopener\">Mycotech<\/a> makes leather out of fungus. Mushroom, to be specific.<\/li>\n<li>Under the Mylea brand, the leather\u200a\u2014\u200awhich is essentially mycelium, a fibrous filament derived from the root structure of a mushroom\u200a\u2014\u200acan be used to make shoes, wallets, <a href=\"https:\/\/dailymarkup.com\/\/durians-daily-63-indonesian-startup-brings-mushroom-leather-watches-to-market-prenetics-joins-c4946946e8b9\" target=\"_blank\" rel=\"noopener\">watch straps<\/a>, and more.<\/li>\n<li>Between 2019 and the first half of 2020, the Indonesia-based startup produced 2,000 sq ft of mycelium leather from its pilot factory.<\/li>\n<li>Co-founder Adi Reza tells us the factory has helped them generate US$568,000 in total revenue so far.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1600\" data-height=\"1200\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7da2a69ab8.jpg\"><figcaption class=\"wp-caption-text\">Credit: Mycotech<\/figcaption><\/figure>\n<ul>\n<li>Within that period, Mycotech has achieved other significant milestones:<\/li>\n<li>It was selected as one of the Circular Economy Solvers by <a href=\"https:\/\/solve.mit.edu\/challenges\/circular-economy\/solutions\/6479\" target=\"_blank\" rel=\"noopener\">MIT SOLVE<\/a> and granted US$10,000.<\/li>\n<li>That came around the same time Mycotech was stamped as a <a href=\"https:\/\/www.mycl.bio\/news\/article\/b-corps-2019\" target=\"_blank\" rel=\"noopener\">B-certified<\/a> company, becoming one of only three B-corps in Indonesia.<\/li>\n<li>This year in January, Mycotech was regarded as a low-carbon inclusive enterprise from <a href=\"https:\/\/www.seed.uno\/enterprise-profiles\/mycotech\" target=\"_blank\" rel=\"noopener\">SEED Awards<\/a> and awarded \u20ac10,000 in grants to implement an integrated energy monitoring system in their eco-factory.<\/li>\n<li>It\u2019s safe to say Mycotech\u2019s leather is good for the environment as it recorded significantly lower carbon emissions compared to cattle leather production, Adi reveals.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1600\" data-height=\"898\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7da2ad2636.jpg\"><figcaption class=\"wp-caption-text\">Credit: Mycotech<\/figcaption><\/figure>\n<ul>\n<li>Adi divulged they\u2019ve secured collaborations with a mix of 21 small-medium and big fashion brands. To meet the demand, Mycotech\u2019s production facility will be at full capacity until 2027, producing 2,000 sqft of mycelium leather per year.<\/li>\n<li>Although he wasn\u2019t able to provide any names, one furniture retailer recorded over \u20ac41. 3 billion in revenue last year.<\/li>\n<\/ul>\n<hr>\n<p><strong>Missed out the last Daily Markup? Go <\/strong><a href=\"https:\/\/dailymarkup.com\/\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a><strong> to check it out.<\/strong><\/p>\n<p><strong>You can also find us on <\/strong><a href=\"https:\/\/www.linkedin.com\/company\/500-durians\/\" target=\"_blank\" rel=\"noopener\"><strong>LinkedIn<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/www.facebook.com\/500durians\/\" target=\"_blank\" rel=\"noopener\"><strong>Facebook<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/twitter.com\/500Startups_SEA\" target=\"_blank\" rel=\"noopener\"><strong>Twitter<\/strong><\/a><strong>, and <\/strong><a href=\"https:\/\/www.instagram.com\/500durians\/?hl=en\" target=\"_blank\" rel=\"noopener\"><strong>Instagram<\/strong><\/a><strong>.<\/strong><\/p>\n<figure><img decoding=\"async\" data-width=\"400\" data-height=\"400\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7da2b256a1.jpg\"><\/figure>\n<p>500 Startups is a venture capital firm on a mission to discover and back the world\u2019s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.<\/p>\n<hr>\n<p><em>This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively \u201c500 Startups\u201d) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies\u2019 markets, competitors, performance, and fundraising has been provided by those companies\u2019 founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Successful Series B Hong Kong-based and 500-backed cross-border financial settlement company EMQ has raised US$20 million in Series B funding. The round saw participation from new and existing investors that include AppWorks, Abu Dhabi Capital, DG Ventures, Intudo Ventures, VS Partners, January Capital, Hard Yaka, Vectr Fintech Partners, Quest Ventures, and Sparklabs. The company will [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[368,371,425],"class_list":["post-761","post","type-post","status-publish","format-standard","hentry","category-daily","tag-emq","tag-mycotech","tag-zenysis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #67: EMQ raises US$20 million Series B funding; Zenysis works with The Global Fund\u2026 - Markup<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailymarkup.com\/?p=761\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #67: EMQ raises US$20 million Series B funding; Zenysis works with The Global Fund\u2026 - Markup\" \/>\n<meta property=\"og:description\" content=\"Successful Series B Hong Kong-based and 500-backed cross-border financial settlement company EMQ has raised US$20 million in Series B funding. The round saw participation from new and existing investors that include AppWorks, Abu Dhabi Capital, DG Ventures, Intudo Ventures, VS Partners, January Capital, Hard Yaka, Vectr Fintech Partners, Quest Ventures, and Sparklabs. 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