Agros raises Series A funding to scale solar-powered irrigation
Agros, a Singapore-based provider of solar-powered irrigation solutions, has closed a USD 4.25 million Series A funding round to support its expansion in Indonesia, Cambodia, and Myanmar.
The round was co-led by Gaia Impact, Schneider Electric Energy Access Asia, and Wavemaker Impact, with new participation from Global Innovation Fund. Silverstrand Capital and PropertyGuru founder Steve Melhuish also invested.
Agros provides smallholder farmers with solar-powered irrigation systems, aiming to eliminate fuel costs and reduce carbon emissions. The company said it has worked with 6,000 farmers to date, benefiting more than 30,000 people.
The new capital will fund Agros’s expansion in Indonesia, digital infrastructure development, and product innovation. The company is also preparing to raise additional debt financing later this year.
Phnxx raises funding for modular battery and solar solutions
Phnxx, a startup developing containerized battery and solar solutions, has reportedly raised SGD 1.5 million (USD 1.1 million) in a seed funding round, according to e27. Investors include Synertec, Engine Factory, Pacific Channel, LaunchVic’s Hugh Victor McKay Fund, and climate-focused angel investors.
The investment will support Phnxx’s expansion plans. As part of the deal, Synertec has also partnered with Phnxx to strengthen its sales efforts and market reach.
Phnxx offers scalable, modular renewable energy systems for industries such as construction, mining, and agriculture. The company claims its solution is 34 times cleaner than diesel generators and five times cheaper on a per-kilowatt-hour basis.
GlobalData acquires Ai Palette to enhance AI-driven consumer insights
Ai Palette, a Singapore-based company providing predictive consumer insights and product innovation solutions using artificial intelligence, has been acquired by GlobalData, a provider of data analytics and market intelligence. The financial terms of the deal were not disclosed.
The acquisition will integrate Ai Palette’s generative AI and machine learning capabilities with GlobalData’s data analytics resources, aiming to help brands anticipate consumer trends and refine product innovation strategies.
Mike Danson, CEO of GlobalData, noted that Ai Palette’s technology would enhance the company’s ability to help consumer packaged goods brands “innovate smarter and faster.”
Khazanah invests in Yinson GreenTech’s EV charging business, chargEV
Yinson GreenTech, the sustainable technology arm of Malaysia’s Yinson Holdings, has secured an investment from Khazanah Nasional Berhad through its Dana Impak initiative to expand chargEV, its electric vehicle charging business. The investment amount was not disclosed.
The funding will support chargEV’s goal of increasing the number of charging stations across Malaysia in line with national objectives. It will also help scale operations to meet growing demand for accessible EV charging infrastructure.
Chitose Bio Evolution snags USD 49 million for algae-based biofuel expansion
Chitose Bio Evolution, a Singapore-headquartered company focused on algae-based biofuel production, has reportedly secured JPY 7.3 billion (USD 49.4 million) from a consortium of Japanese investors, according to Nikkei Asia. The consortium includes Shiseido, Mizuho Bank, Sumitomo Mitsui Banking Corp., and Jafco Asia.
The company operates a 50,000-square-meter microalgae production facility in Sarawak, Malaysia, generating biomass for applications in sustainable aviation fuel, cosmetics, and industrial materials.
Chitose plans to use the new capital to expand production capacity, with plans to launch a 1-square-kilometer plant within two years and scale to 20 square kilometers by 2030.
Sogni AI gets USD 2 million to build decentralized AI infrastructure
Sogni AI, a decentralized image generation platform, has reportedly received USD 2 million in a funding round co-led by Comma3 Ventures and Republic Ventures, according to Investing.com. Other investors include Contango Digital, Oyster Ventures, ARC, DEXT Force Ventures, Nosana, Formless Capital, Gecko Ventures, and industry veterans.
The funding will accelerate the development of Supernet, a decentralized physical infrastructure network designed to optimize AI-driven content creation. Sogni AI claims Supernet offers rendering speeds significantly faster than traditional cloud services by distributing AI workloads across a decentralized network.
The company is valued at USD 25 million following the latest round and aims to democratize AI-driven content creation by reducing reliance on centralized AI models, potentially lowering costs and improving accessibility for creative professionals.
Choco Up and Wonder Capital partner launch private credit fund for APAC SMEs
Choco Up, a Hong Kong-based growth financing platform, has partnered with Wonder Capital Group, an independent investment management firm, to launch a USD 50 million private credit fund targeting asset-light small and medium enterprises in the Asia Pacific region.
The initiative has completed its first close at USD 10 million, backed by the CMAG Private Credit Fund led by Wonder Capital. The fund will provide non-dilutive, revenue-based financing solutions for e-commerce, software-as-a-service, and technology companies.
Flagright secures seed funding, Y Combinator among investors
Flagright, an anti-money laundering (AML) and risk management platform, has secured USD 4.3 million in a seed funding round led by Frontline Ventures, with participation from Y Combinator, Pioneer Fund, Moonfire Ventures, and other fintech investors.
The company provides real-time transaction monitoring, automated case management, and AI-powered risk scoring to help financial institutions reduce false positives and improve alert investigation times. Flagright said it currently serves customers across six continents with its banking-grade compliance platform.
The new funding will support Flagright’s expansion into North America, with new offices in New York and San Francisco, and the launch of its “AI forensics” solutions.
Airwallex, Finory, StarFive, and more made recent headlines:
- Airwallex, a cross-border payments and financial platform, agreed to acquire CTIN Pay, a licensed intermediary payment service (IPS) provider in Vietnam. The acquisition is pending customary closing conditions.
- Finory, a Malaysian personal finance management app, raised an undisclosed sum of investment from 1337 Ventures.
- StarFive Technology, a Chinese chip design company backed by Baidu, raised an undisclosed sum from Hong Kong Investment Corporation Limited (HKIC).
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