Airwallex expands into Vietnam with acquisition of CTIN Pay
Airwallex, a cross-border payments and financial platform, has signed definitive agreements to acquire CTIN Pay, a licensed intermediary payment service (IPS) provider in Vietnam. The acquisition, pending customary closing conditions, marks Airwallex’s latest move to expand its Asia-Pacific footprint.
By acquiring CTIN Pay, Airwallex aims to strengthen its financial infrastructure in Vietnam, enabling local businesses to scale internationally while supporting foreign companies entering the Vietnamese market.
Airwallex has also appointed Ershad Ahamed as its head of Southeast Asia to drive regional growth. Ahamed previously held senior roles at Grab, Rakuten, and Procter & Gamble. The acquisition follows Airwallex’s recent purchase of MexPago, a Mexico-based payment service provider, as part of its broader strategy to build a global financial platform.
Finory raises investment from 1337 Ventures to enhance personal finance solutions
Finory, a Malaysian personal finance management app, has raised an undisclosed sum from 1337 Ventures. The investment will support service enhancements and the expansion of its financial data solutions for banks and fintech companies.
Initially launched to consolidate users’ credit card and bank statements into a unified view, Finory has evolved into a data-driven platform offering financial insights. The startup provides transaction parsing, categorization, and analysis tools to help banks and fintech firms streamline lending assessments and improve financial services.
Darwinbox secures USD 140 million to fuel global expansion
Darwinbox, a Hyderabad-based human resources technology platform, has secured USD 140 million in a funding round co-led by Partners Group and KKR, with participation from Gravity Holdings.
The investment will support Darwinbox’s international expansion and product development, particularly in North America, where the company has gained traction.
More than 60% of Darwinbox’s recent revenue growth has reportedly come from international markets. The company has also introduced multi-country payroll solutions and enhanced enterprise features to strengthen its offerings.
LiveIn acquires RedDoorz’s KoolKost brand to expand in Indonesia
LiveIn, a flexible housing provider, has acquired KoolKost, a long-term accommodation brand from RedDoorz, adding properties across six Indonesian cities to its portfolio. The financial terms were not disclosed.
KoolKost, launched in 2020, caters to long-term travelers, students, and workers with budget-friendly living spaces that include essential amenities. LiveIn co-founder and CEO Keek Wen Khai told e27 that the acquisition will improve property owners’ returns and offer more flexible housing solutions for young Indonesians. KoolKost will continue operating as a sub-brand under LiveIn Indonesia.
Baidu-backed StarFive secures investment from HKIC
StarFive Technology, a Chinese chip design company backed by Baidu, has raised an undisclosed sum from Hong Kong Investment Corporation Limited (HKIC). The investment is part of Hong Kong’s broader initiative to promote R&D in artificial intelligence and open-source chip technology.
Founded in 2018, StarFive specializes in customizable RISC-V core technology, an open-source alternative to proprietary architectures like x86 and ARM. While RISC-V is commonly used for low-power chips, its adoption is expected to accelerate due to growing demand from AI workloads and OpenAI rival DeepSeek’s R1 model.
Other deals recently completed in China:
- MicroSilicon, a provider of fan-out wafer-level packaging and chiplet integration solutions, has secured a Series B+ investment in the nine-figure RMB range. The investors include Leaguer Capital, Daan Fund, Anji Government Industrial Fund, and Chenlong Group. The company will allocate the capital toward expanding its second-phase packaging production line, R&D, and market development. —36Kr
- Xunlin Technology, an advanced manufacturing company focused on metallization of ceramic and glass substrates, has raised tens of millions of RMB in a pre-Series A funding round led by Qihang Investment Management, an arm of ZGC Group. The funds will support its R&D, market expansion, and industrial chain upgrades. Established in September 2023, Xunlin aims to introduce a novel physical vapor deposition (PVD) method to improve metal coatings on semiconductor substrates used in advanced fabrication, high-definition display modules, and power devices. —36Kr
- LimX Dynamics, a humanoid robotics company, has completed its Series A+ funding round, bringing its total Series A financing to RMB 500 million (USD 70 million) within six months. The round attracted the likes of Alibaba Group, China Merchants Venture, Shang Qi Capital, Nio Capital, Lenovo Capital, Bian Era Technology Holdings, and Nice Group. Existing backers, including Elevation China Capital, Vitalbridge, Future Capital, FreesFund, and Nanshan SEI Investment, also participated. —36Kr
- HiTS (Xieqing New Energy Technology), a hydrogen fuel cell technology developer based in Shanghai, has secured a seven-figure RMB sum in its first tranche of Series A funding from Silicon Harbour. The proceeds will be used for R&D, manufacturing, applications, and network expansion for hydrogen-powered drones. —36Kr
- GS Biotech (Zhongke Guosheng Technology), a biotechnology company specializing in biochemicals, has raised RMB 200 million (USD 28 million) in a Series A+ funding round co-led by CITIC Goldstone Fund Management and Puhua Capital. Yunhui Capital and Hangzhou Capital joined the round, while existing investors Legend Capital Management, 5Y Capital, and Hangzhou Yuhang State-owned Capital Investment increased their stakes. GS Biotech will use the funds to construct a production facility in Jiangsu. —36Kr
- Memsilicon, a chipmaker developing new resistive random-access memory (RRAM) and artificial intelligence computing solutions, has raised close to RMB 100 million (USD 14 million) in an angel funding round. Jinqiu Fund led the investment, with additional backing from Lenovo Capital and Xiaomi. —36Kr
- AstronStone, a commercial space tech company, has raised tens of millions of RMB in an angel funding round led by KylinHall Partners, with participation from Yingtan Aerospace and Shuimu Tsinghua Alumni Seed Fund. The funds will be used to accelerate R&D for its reusable liquid-fueled rockets. —36Kr
- Hydwin, an industrial solutions provider, has raised an eight-figure RMB sum in a Series A funding round. The round was led by a major port group, with continued backing from Seas Capital. Yirong Capital acted as the financial advisor. Founded in 2021, Hydwin specializes in ultra-high-pressure components and AI-powered cleaning solutions for shipbuilding and chemical industries. —36Kr
- New Trials Medical Technology, a digital clinical research platform, has raised tens of millions of RMB in a Series A+ funding round from Zhejiang’s “4+1” biomedicine and high-end equipment fund, Sherpa Healthcare Partners, and HongShan’s seed fund. The funds will accelerate its expansion and the deployment of its clinical trial platform. Established in 2020, New Trials digitizes trial processes, focusing on remote monitoring and patient reimbursement solutions for pharmaceutical companies and contract research organizations (CROs). —36Kr
- Future Bio, a biotech startup focused on AI-driven materials innovation, has raised a seven-figure USD sum in an angel funding round led by Glory Ventures, with participation from K2VC, XtalPi, Capital O, IMO Ventures, and Leap Capital. Future Bio will use the capital for team expansion and pilot testing. The company has also formed an AI research partnership with XtalPi to advance material and process development. —36Kr
- Zhongxin New Carbon, a high-performance carbon materials manufacturer based in Xiamen, has secured an undisclosed amount of Series A funding from Xiamen Hi-tech VC. The proceeds will go toward capacity building, R&D, marketing, and the construction of continuous carbon fiber production lines for military and civilian applications. —36Kr
- GeTech, a provider of AI-powered industrial solutions, has raised a nine-figure RMB sum in a Series C round of financing. The funding was provided by Optics Valley Financial Holding Group and Optics Valley Industrial Investment, among other investors. The capital will be used to expand its core businesses and acquire industrial AI companies. GeTech was founded in 2018 as a spinoff from TCL. —36Kr
- Super Vision Technology, a medtech company, has completed a Series B funding round, bringing its total financing to the nine-figure RMB range. The company is developing novel treatments for congenital nystagmus (CN), a neurological eye condition affecting vision. The investors include Tsingstone Capital, Fosun Health Capital, Lapam Capital, Chang Development, Yuanpei Investment and Development, and Tsinghua Innovation Ventures. —36Kr
- Giantest Electronics, a semiconductor testing solutions provider, has secured over RMB 100 million in a Series B+ funding round. The funding was led by Chengdu Capital Group, with participation from Chengdu’s major industrial equity fund, Chengdu Tianfu Innovation Fund, and CyberNautea. —36Kr
- Yaoshun Technology, an edtech company, has secured several million RMB in an angel funding round. The investment came from Dino Fund, a joint venture between HongShan and VIPKid, along with a private education founder’s fund. Established in 2024, Yaoshun develops AI-powered phonics learning devices for children. —36Kr
Bumame, Kredivo, SmartSolar, and more made recent headlines:
- Bumame, an Indonesian healthcare startup, raised an undisclosed pre-Series A funding round led by Alpha JWC Ventures, with participation from 500 Global and Kopital Ventures.
- Kredivo Group, a digital financial services provider in Southeast Asia, acquired GajiGesa, an Indonesian earned wage access (EWA) platform.
- SmartSolar, a Vietnam-based startup, emerged from stealth with USD 1.85 million in seed funding, co-led by Picus Capital and 2degrees, with support from Iterative.
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