Singapore sovereign wealth fund GIC has backed the $240 million funding for US-based Grafana Labs while Pakistani fintech startup PostEx said it has raised $7.3 million in pre-Series A funding
Singapore’s GIC backs $270m funding in Grafana Labs
Grafana Labs, the US-based open-source company behind some of the world’s operations dashboards, has announced raising a total of $270 million in primary and secondary transactions.
The funding round, which the company said is an extension to its $240 million Series D round in 2022, was anchored by venture capital investor Lightspeed Venture Partners and backed by a host of existing investors including Singapore sovereign wealth fund GIC.
The company is now valued at over $6 billion, up from $3 billion in 2021, following the transaction. It said it will use the infusion of capital to accelerate its product development while pursuing future M&A opportunities.
Grafana Labs provides an open-source technology for dashboards and visualization. The company claims to have more than 5,000 customers, including Bloomberg, Citigroup, Dell Technologies, Salesforce, and TomTom.
Pakistani fintech PostEx secures $7.3m funding
Pakistani fintech and logistics startup PostEx has announced raising $7.3 million in its pre-Series A funding round led by Dubai-based early-stage venture capital firm Conjunction Capital.
Founded in 2020 by college friends Omer Khan and Saad Mehmood, PostEx was the first startup in Pakistan to provide receivable factoring and logistics services to e-commerce sellers.
The startup pays invoice values upfront to e-commerce companies, helping e-commerce sellers and SMEs thrive.
The business is a hybrid between fintech and logistics and competes with the likes of Rider, Trax, Leopards, and TCS in the logistics space, while it competes with all quick finance providers like Abhi, and logistics aggregator Smartlane.
PostEx plans to use the fresh capital to expand into the MENA region, starting with Saudi Arabia where it has already kicked off a pilot. It is also testing its solutions in the UAE, where it has already secured a licence.
The company said it currently has an annual revenue run rate of $21 million, processes over four million transactions per month, and has been profitable for several months.
