Homa2u secures additional funding for sustainability initiatives and expansion
Homa2u, a Malaysian platform for overstocked renovation and interior design materials, has secured an additional USD 625,000 in its pre-Series A funding round from Asia Fund X (AFX), which is backed by MSW Ventures and Pavilion Capital.
With this latest investment, Homa2u’s total pre-Series A funding now stands at USD 1.5 million. Existing investors include Quest Ventures Asia Fund II, Worldwide Management Solutions, and Qhazanah Sabah Berhad, the strategic investment arm of the Sabah state government.
The company plans to use the funds to support its carbon reduction tracking initiatives and expand beyond Malaysia and Singapore into high-growth regions such as Taiwan and Japan.
Homa2u currently collaborates with certified environmental consultants to quantify the carbon footprint impact throughout the supply chain. The company has repurposed over MYR 20 million (USD 4.2 million) worth of overstock inventories to more than 8,000 homes, with a target to save 7.5 million kilograms of carbon by the end of 2024.
“Homa2u has continued to make headways into traditional industries known for being monopolistically competitive or insular oligopolies. […] The company’s true competitive advantage comes from its foundations set via digital platform capabilities synergized with AI-powered data analytics,” said Jeffrey Seah, general partner at AFX.
Robo Co-op raises USD 700,000 for refugee empowerment initiatives
Robo Co-op, a social enterprise focused on empowering refugees through digital learning, has received a USD 700,000 investment from Ritsumeikan University’s Social Impact Fund (RSIF).
This revenue-based funding will enable Robo Co-op to enhance its training capacity, create more remote work opportunities, and strengthen its social impact programs. The organization aims to provide refugees with comprehensive digital skills and flexible employment opportunities, fostering diversity, equity, and inclusion (DE&I).
Virtual IT Group partners with Riverside to accelerate growth
Virtual IT Group (VITG), an Australian IT services provider, has signed a definitive agreement to secure investment from global mid-market private equity firm The Riverside Company. The financial details of this deal were not disclosed.
This partnership aims to bolster VITG’s platform and accelerate growth both organically and through mergers and acquisitions. The company plans to leverage Riverside’s global network and expertise to expand its operations and enhance its service offerings.
Recent deals completed in China:
- Zhongaiyun, a big data diagnostic platform for traditional Chinese medicine, has raised a seven-figure RMB sum in an angel funding round. The funding was provided by Suzhou HSR New Town’s Xincheng Venture Capital and an industry fund managed by Comely, a weight management solutions provider. The funds will be used for product development and market promotion. —36Kr
- Cramer Techs, a sensor fusion technology company, has completed a new funding round. Haojun Investment and various leading companies co-invested in the round, with continued support from existing shareholder Lanwan Capital. The investment will help Cramer Techs deepen its industrial network, optimize its software and hardware solutions, and expand into overseas markets. —36Kr
- Xingkeyuan, a Hangzhou-registered supplier of high-performance lithium-silicon carbon anode materials, has completed its angel and seed funding rounds, raising over RMB 50 million (USD 6.8 million). The investors include HongShan, K2VC, KylinHall Partners, Shuimu Tsinghua Alumni Seed Fund, Six Sigma Capital, and angel investors with Six Sigma Capital serving as the long-term exclusive financial advisor. The funds will be used for R&D, production line investment, and market expansion. —36Kr
Notti Pet Food, Ayudante, Quidich Innovation Labs, and more led yesterday’s headlines:
- Notti Pet Food, a Malaysian brand offering premium pet food, has raised MYR 2.4 million of seed funding from 500 Global and First Move.
- Ayudante, a Japan-based digital marketing and measurement company, has acquired Singapore-based Sparkline, making it a wholly-owned subsidiary. Sparkline is a digital marketing business and certified partner and reseller of Google Marketing Platform (GMP).
- Quidich Innovation Labs, a sports broadcasting solutions provider based in India, has raised an undisclosed amount in a Series A funding round led by Centre Court Capital, with participation from other investors.
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