Aevice Health raises USD 7 million in seed plus round
Aevice Health, a Singapore-based medtech firm, has raised USD 7 million in a seed plus funding round led by Coronet Ventures, the venture unit of Cedars-Sinai Intellectual Property (CSIP). East Ventures and Seeds Capital (SG Growth Capital) also participated.
Known for its wearable devices that monitor respiratory conditions, Aevice Health will use the fresh funds to enhance product development and expand its operations in the US, Japan, and Singapore.
According to The Business Times, Aevice Health recently obtained approvals for its AeviceMD wearable stethoscope in the US and Singapore. In May, the company partnered with Japanese medical equipment manufacturer A&D, receiving a USD 1 million investment as part of that deal.
Reforged Labs secures USD 3.9 million in seed funding
Reforged Labs, a startup focused on AI-driven solutions for video ad creation in the gaming industry, has secured USD 3.9 million in a seed funding round.
The round was led by global venture capital firm DCM, with participation from Y Combinator, Epakon Capital, Goodwater Capital, Phoenix Fund, Asymmetry Ventures, and several angel investors, including executives from Niantic and Pocket Gems, and the founders behind King and Sky Mavis.
The funds will be used to further develop Reforged Labs’ AI platform, which streamlines the creation and optimization of video ads, reducing the time and resources required for game developers to produce high-quality ads. The company said it has already piloted its platform with a dozen partners, showing promising results in improving ad performance metrics.
Singapore-based Skuad acquired by Payoneer for up to USD 81 million
Skuad, a Singapore-based HR and payroll solutions provider, has been acquired by fintech company Payoneer for USD 61 million in cash. The deal includes a potential additional USD 10 million contingent on performance milestones, along with another USD 10 million in restricted stock units, which are subject to vesting based on the continued employment of key personnel.
Payoneer, which provides cross-border payment services to businesses worldwide, plans to integrate Skuad’s payroll and contract management offerings into its platform, expanding its services to small and medium enterprises operating internationally. This acquisition aligns with Payoneer’s strategy to capture a larger share of the global B2B market, particularly in emerging markets.
Exicom acquires Tritium to expand EV charging infrastructure
Exicom, one of India’s leading manufacturers of electric vehicle chargers, has announced the acquisition of Tritium, an Australia-based company specializing in DC fast chargers.
According to Exicom’s statement, this acquisition includes Tritium’s manufacturing facility in Tennessee in the US, as well as its engineering center in Brisbane, Australia.
Tritium, known for its advanced liquid-cooled DC fast chargers, is said to have sold over 13,000 units to date across 47 countries.
This acquisition is aimed at strengthening Exicom’s commitment to developing the EV infrastructure industry, positioning the company to serve a broader range of use cases globally. Anant Nahata, CEO of Exicom, noted that this purchase aligns with the company’s vision of contributing to a sustainable, emission-free future for mobility.
Recent deals completed in China:
- Hengbot, a Chongqing-registered robotics company, has secured an eight-figure RMB sum in a funding round led by the second phase of Clearwater Bay Capital’s venture fund, with participation from the Hong Kong X Technology Fund, professor Gao Bingqiang and affiliates, Zhixing No. 1 Fund, and Hua Capital. The funds will be used primarily for product development, market expansion, and team building. —36Kr
- ShareCRM, a provider of customer management solutions, has announced a USD 75 million investment led by Eastern Bell Capital, with Qiming Venture Partners and Xiamen C&D Emerging Industry Equity Investment also participating. This follows a USD 30 million investment in July 2023 by Guiyang Venture Capital. The funds will be used to enhance the company’s platform integrations, artificial intelligence capabilities, and international expansion efforts. —36Kr
- MaaS, an AI large model company, has completed a RMB 100 million (USD 13.9 million) Series B+ funding round led by Cowin Capital. Qingdao Haifa and TusStar VC also participated. The funds will be allocated toward further application and commercialization of the company’s large models. —36Kr
- Spirit AI, a company specializing in embodied intelligence, has raised close to RMB 200 million (USD 27.8 million) in angel and seed funding. The angel round was led by Highlight Capital, with participation from Fortune Venture Capital and Fibonacci VC, while Shunwei Capital and Vitalbridge were the seed investors. The company plans to use the funds for technology development and team expansion. —36Kr
- Seek Pet Food, a pet food manufacturer, has received an undisclosed investment from US private equity fund Advent International. The funds will be used to accelerate the company’s growth in the Chinese pet food market, which reached approximately USD 9.6 billion last year. —DealStreetAsia
- Black Sesame International, an automotive chipmaker, debuted on the Hong Kong Stock Exchange with its shares opening 33% below the IPO price, despite ranking as the world’s third largest provider of automotive-grade high computing power system-on-chips (SoCs) last year. —Nikkei Asia
Mushroom Material, UnaBiz, Evo, and more led last Thursday’s headlines:
- Mushroom Material, a startup focused on replacing styrofoam with pelletized fungi packaging, secured over USD 5 million in seed funding. The round was jointly led by Wavemaker Partners and Seeds Capital (SG Growth Capital), with participation from Icehouse Ventures, K1W1, and Black Kite Capital.
- UnaBiz, an internet-of-things service provider and integrator, announced the first close of its USD 25 million pre-Series C funding round. The round was co-led by KDDI Open Innovation Fund 3 and Kyocera Communication Systems (KCCS).
- Evo Commerce, a Singapore-based e-commerce brand aggregator, reportedly raised USD 2.1 million in a funding round led by IJK Capital Partners.
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