Daily Briefing: Wallex Technologies nabs undisclosed series A funding; Split secured an undisclosed funding led by 500 Startups

And Tychan to start human clinical trials for potential COVID-19 treatment.

From e27:

Fintech startup Wallex Technologies closed an undisclosed series A funding led by Ant Financial-backed fund BAce Capital, SMDV, and Skystar Capital, according to an announcement. Existing investors also participated in the funding.

Other participating investors in the previous rounds included Central Capital Ventura (fintech investment arm of Bank Central Asia) and Indonusa Dwitama.

The company said that the new funds will be directed towards entering new markets as well as scaling up in already existing markets, and enhancing the core products.

Prior to this funding, Wallex raised a pre-series A funding led by BEENEXT in October 2018.

Read more here.

From e27:

Singapore and Malaysia-based fintech startup Split secured an undisclosed amount of funding, led by 500 Startups, according to an announcement.

Angel investors, including Louise Daley, Deputy CEO of AccorHotels Asia Pacific, also participated. With this, Daley has also joined Split’s Board of Directors.

Split was co-founded in 2018 by Dylan Tan (CEO) and Vishvesh Suriyanarayanan (CTO) as part of Entrepreneur First’s talent investment programme. It enables businesses to provide a ‘buy-now-pay-later’ service to their customers in Singapore and Malaysia

Customers have the choice of paying in up to three instalments online, offline or via social commerce. Its technology can be integrated with e-commerce platforms, in-store, and for businesses that sell via chat apps or social media.

Read more here.

From Channel News Asia:

Singapore-based biotechnology company Tychan has received approval from the Health Sciences Authority (HSA) for the Phase 1 clinical safety trial in healthy volunteers, according to an announcement.

They will start the human clinical trials next week for a treatment that could slow down the progression of COVID-19 in patients, help them recover faster, and provide temporary protection against the coronavirus.

The firm has developed TY027, a monoclonal antibody that specifically targets SARS-CoV-2, the coronavirus that causes COVID-19. Monoclonal antibodies can be isolated and manufactured in large quantities to treat diseases.

Presently, there is no proven antibody-based treatment for COVID-19. There is also no licensed vaccine to prevent SARS-CoV-2 infection, Tychan said.

Read more here.

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