FB Pixel no scriptDeals in brief: Andisor, Klinik Pintar, and Clove secure funding, Net Zero Challenge 2023 announces winners, new BTN fund to invest in prop tech startups, and more | KrASIA

Deals in brief: Andisor, Klinik Pintar, and Clove secure funding, Net Zero Challenge 2023 announces winners, new BTN fund to invest in prop tech startups, and more

Written by KrASIA Writers Published on   6 mins read

Bringing you the latest news briefs on fundraising activities in the Asia Pacific.

Andisor announces completion of USD 1 million pre-seed round

Andisor, a digital wholesale platform for retail businesses, has announced the completion of a USD 1 million pre-seed funding round from Antler, LaunchVic’s Alice Anderson Fund, Jam Pad Investments, and undisclosed retail operators.

“The retail sector, particularly for small and medium businesses, has faced formidable challenges recently. Andisor has astutely responded to this by creating a platform that not only enables brands to boost their revenue from small and independent customers profitably but also offers these retailers a seamless platform to access and purchase from global brands,” said Cath Rogers, partner at Antler in Australia.

Klinik Pintar raises USD 5 million in Series A1 round

The Jakarta-based health tech startup has raised USD 5 million in a Series A1 funding round led by Altara Ventures. Golden Gate Ventures, Skystar Capital, Venturra, and other investors also participated in this round.

Klinik Pintar is planning to develop a new hybrid product that connects both its software-as-a-service and physical business models. According to Harya Bimo, co-founder and CEO of Klinik Pintar, the company is currently piloting the new product and plans to launch it next year. —Tech in Asia

Clove secures AUD 4.15 million in funding

The Sydney-based artificial intelligence-powered recipe platform has raised AUD 4.15 million (USD 2.72 million) in a funding round led by Blackbird Ventures. Other investors that took part in this round include Shakti as well as individual investors from companies like Canva, Pexels, and Google Maps.

Clove has completed this funding round ahead of its launch and has articulated its goal of streamlining the cooking process. The platform aims to achieve this by allowing users to browse personalized recipes and simplify cooking workflows through the use of AI. —Australian Financial Review

Touchstone Partners and Temasek Foundation announce winners of Net Zero Challenge 2023

Touchstone Partners and Temasek Foundation, the joint organizers of Net Zero Challenge 2023, have announced the competition’s winners:

  • Alterno utilizes sand-based batteries to produce affordable thermal energy storage solutions. Alterno is the winner of the competition’s renewables and carbon removal track.
  • Forte Biotech produces onsite rapid diagnostic tests to aid early detection of prawn diseases. Forte Biotech is the winner of the competition’s food systems and sustainable agriculture track.
  • AirX Carbon converts biodegradable waste such as coffee grounds into carbon-negative biogenic materials. AirX Carbon is the winner of the competition’s circular economy and waste management track.

The three winners have been jointly awarded VND 15 billion (USD 630,000) in grant funding from Net Zero Challenge 2023 to build and scale their innovations. In addition, Alterno and AirX Carbon have also received USD 50,000 each from Touchstone Partners and East Ventures in investment prizes.

There were a total of nine finalist teams in this year’s edition of the competition. They include GreenPod Labs, Neorice, Origo Eco, Tepbac, Vox Cool, and a combined team of Sierra Energy and NSEC.

Bank BTN and Mandiri Capital Indonesia agree to launch BTN Fund

Bank BTN, an Indonesian commercial bank, and Mandiri Capital Indonesia (MCI), the corporate venture capital arm of Mandiri Group (Bank Mandiri), have come to an agreement to establish the BTN Fund.

As the fund manager, MCI will leverage synergies between startups and the business ecosystems of both entities, as well as other Indonesian state-owned enterprises. MCI will focus on investing in startups within sectors aligned with BTN’s business objectives and emerging market trends. These sectors may include prop tech, mortgage tech, embedded finance, construction tech, open finance, SaaS, and more. Additionally, these investments will be aligned with the innovation objectives of the Mandiri Group.

Photo courtesy of Mandiri Capital Indonesia.

Animoca Brands raises USD 11.88 million in second tranche of funding for Mocaverse

The blockchain gaming group has announced a second tranche of funding for Mocaverse, raising USD 11.88 million atop the first tranche of USD 20 million announced in September earlier this year.

The investors that took part in the second tranche for Mocaverse include Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, and Dapper Labs, among others.

Funding raised in both tranches was raised via the issuance of simple agreements for future equity (SAFEs) at the price of AUD 4.5 per share. The SAFEs will be automatically converted to ordinary shares after six months. Animoca Brands has also granted to participating investors a free-attaching utility token warrant on a 1:1 dollar basis with a 30-month vesting schedule.

Gacha Monsters raises USD 3 million in seed round

The Japan-based gaming and entertainment company has announced the completion of a USD 3 million seed funding round. The investors that participated in this round include Animoca Brands, Infinity Ventures Crypto, FBG, and Big Time Games.

Gacha Monsters, commonly known for developing Poglin, will use the funds to develop and distribute its “immersive” IP across various formats, with several gaming titles to be rolled out to the mass market. —TechNode Global

Recent deals completed in China:

  • Baseus, a digital lifestyle brand, has raised a nine-figure RMB sum in a funding round from its existing investors. The round was led by SCGC and saw the participation of Xiamen C&D, Gaorong Capital, and the industrial fund of Yuexiu Financial Holdings. Baseus will use the funds for R&D and to establish its domestic and foreign brand channels. 36Kr
  • Longyao Biotechnology, a Shanghai-based biotechnology company, has raised close to RMB 100 million (USD 13.9 million) in a funding round from Yixing Environmental Technology Industrial Park. Longyao will utilize funds for R&D, clinical trials, and to construct a new facility in Yixing, Wuxi. 36Kr
  • X-Imaging, a Shanghai-based provider of full-process automation and intelligent solutions, has secured over RMB 100 million (USD 13.9 million) in a Series B funding round led by Wisdomont Capital. The funds will be allocated toward R&D and market layout planning. 36Kr
  • Hanhong Technology, a Shanghai-based synthetic biology company specializing in amino acids, has bagged around RMB 100 million (USD 13.9 million) in a Series A funding round led by Wisdomont Capital. Hanhong will use the funds to conduct R&D, construct production facilities, and supplement its working capital. 36Kr
  • Gongda Laser, a Shenzhen-based technology developer specializing in green fiber lasers, has raised over RMB 100 million (USD 13.9 million) in a Series B funding round led by Xiaomi with the support of Luster LightTech and other investors. The newly raised funds will be allocated to various areas, including mass production, research and development, and market channel expansion, among other strategic initiatives. 36Kr
  • Yudian, a Shanghai-based manufacturer of automotive engine control unit (ECU) actuators, has secured an eight-figure RMB sum in a Series A funding round from Shanshan Venture Capital, Xunshang Venture Capital, and Huitongda. InvesTarget served as the exclusive financial advisor for this round. Yudian intends to invest the funds in sales, operations, and R&D. 36Kr
  • Dakang Medical, a Beijing-based medical institution, has raised a nine-figure RMB sum in strategic financing from the Huangpu Institute of Materials. 36Kr
  • Chinese investment firm Addor Capital has launched a RMB 2.5 billion (USD 350.3 million) fund that will focus primarily on the green energy industry. —DealStreetAsia

Latest deals in the Middle East:

  • Omniful, a supply chain and e-commerce solutions provider, has raised USD 5.85 million in a seed funding round led by VentureSouq. Other investors that participated in this round include 500 Global, Dash Ventures, Jahez Group, Seedra Ventures, Bunat Ventures, Hala Ventures, RZM Investments, various family offices, and angel investors. Omniful is headquartered in the UAE and Saudi Arabia, and plans to launch its operations in India. It also intends to use the newly raised capital to strengthen its position in existing markets and enhance its technology. —VCCircle
  • Blink, a Saudi Arabian developer of online ordering solutions for restaurants, supermarkets, and cloud kitchens, has secured USD 2.1 million in a seed funding round from 500 Global, Global Founders Capital, and Orbit Startups (SOSV). —VCCircle

Goterra, RADC, 17Live, and more led last Friday’s headlines:

  • Goterra, a Canberra-based climate tech company, completed its pre-Series B funding round, securing an undisclosed amount from Investible’s Climate Tech Fund, Tenacious Ventures, Rampersand, and other investors.
  • Rose All Day Cosmetics (RADC), an Indonesian D2C cosmetics brand, secured USD 5.41 million in a Series A funding round led by SWC Global. The round also saw the participation of DSG Consumers Partners and AC Ventures.
  • 17Live, a leading pure-play livestreaming platform in Asia, made its Singapore Exchange (SGX) debut on Friday through a business combination with Vertex Technology Acquisition Corporation (VTAC).

If there are any news or updates you’d like us to feature, get in touch with us at: [email protected].


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