FB Pixel no scriptDeals in brief: Arches secures USD 3 million to democratize expertise in Asia’s markets, Square Peg leads investment in Paper.id, Asuene raises Series C funding, and more | KrASIA

Deals in brief: Arches secures USD 3 million to democratize expertise in Asia’s markets, Square Peg leads investment in Paper.id, Asuene raises Series C funding, and more

Written by KrASIA Writers Published on   4 mins read

Bringing you the latest updates on funding deals and activities in the Asia Pacific.

Arches secures USD 3 million to democratize expertise in Asia’s markets

Arches, a knowledge-sharing platform focused on the Asia Pacific region, has raised USD 3 million in a funding round led by Kusabi, with participation from Visional, SMBC Venture Capital, and angel investors. This brings the company’s total funding to USD 5 million.

The company has been establishing itself as a bridge between global decision-makers and the nuanced expertise needed to navigate Asia’s dynamic markets. With this funding, Arches intends to develop an “expert knowledge bank” to transform expert interviews into a searchable database of insights. It also plans to expand its expert network to include Europe and the US.

Square Peg leads Series B investment in Paper.id

Paper.id, an Indonesian B2B fintech company, has raised an undisclosed sum of Series B funding in a round led by Square Peg Capital. The SMBC Asia Rising Fund, co-founded by Sumitomo Mitsui Banking Corporation and Incubate Fund, also participated, along with existing backer Argor Capital.

Paper.id plans to use the funds to expand its solutions, positioning itself as the go-to platform for business owners to manage and process their transactions efficiently. The company will introduce new services this year, including a B2B deferred payment option, integrated bank account payments, and cross-border payments.

Asuene raises USD 26.7 million in Series C round

Asuene, a Japan-headquartered climate tech startup, has raised USD 26.7 million in the first close of its Series C funding round, jointly led by Sumitomo Mitsui Banking Corporation, SBI Investment, and Sparx Asset Management’s Mirai Creation Fund III.

This funding involves third-party allotments to 17 domestic and international investors, including existing shareholders. Asuene aims to raise a total of USD 31.8 million with the upcoming second close, bringing its cumulative funding to USD 64 million.

The company plans to use the funds for recruitment, sales and marketing expansion, investment in artificial intelligence, pursuing M&A opportunities, and strengthening global expansion in Asia and the US.

Battery Smart snags USD 65 million in LeapFrog-led investment

Battery Smart, a Gurugram-based battery swapping company that serves primarily two- and three-wheeler electric vehicles, has raised USD 65 million in a Series B funding round led by LeapFrog Investments. The round included primary and secondary investments from various parties including MUFG Bank, Panasonic, Ecosystem Integrity Fund (EIF), Blume Ventures, and British International Investment (BII).

The company will use the capital to accelerate its expansion, enhance its technology, and strengthen its market presence.

Recent deals completed in China:

  • Zhongyuan Advanced Materials, a gas atomization company based in Ningbo, has raised an undisclosed amount in a Series C funding round. The investors for this round include a SCGC-managed fund, the National Military Integration Industry Investment Fund, Ningbo Yongxin Phoenix Fund, Ningbo Haishu Industrial Investment, Shenzhen HTI Group, and Ningbo Yongcai Fund. 36Kr
  • Ronovo Surgical, a Shanghai-based medtech company, has secured RMB 300 million (USD 41.3 million) in a Series B funding round. The round was co-led by Guolian Group through its subsidiaries Guolian Capital, Surrich International, and the Yangzhou Economic Development Emerging Industry Development Fund, along with Ince Capital. King Star Med and existing investor LongRiver Investments also participated. The funds will accelerate the commercialization of Ronovo’s modular surgical robot products and further the company’s internationalization efforts. 36Kr
  • Cellbri Bio-Innovation Technology, a provider of cell and gene therapy (CGT) manufacturing solutions, has raised nearly RMB 200 million (USD 27.5 million) in a Series B funding round. The round was led by 3E Bioventures, with participation from Hongsheng Capital and existing investors Tsinghua Innovation Ventures, Tengye Ventures, Chang Development, and Shenzhen Angel FOF. Cellbri will utilize the funds to accelerate the commercialization of new production equipment. 36Kr
  • Botai Biotechnology, a Shanghai-registered biotechnology company, has raised an eight-figure RMB sum in a pre-Series A funding round. The round was led by Oriza Hua, with participation from Glory Ventures. Angel investor Ruixia Investment also continued its support. The funds will be allocated toward market expansion and technological development. 36Kr
  • Volant Aerotech, a Shanghai-based developer of electric vertical takeoff and landing (eVTOL) aircraft, has closed a Series A++ funding round, raising a nine-figure RMB sum to bring its total fundraising this year to at least RMB 300 million (USD 41.3 million). The round was led by QF Capital, with participation from Nanshan SEI Investment, Dunhong Capital Management, and existing shareholder Welight Capital. —DealStreetAsia

Matsuri, BayaniPay, Stanly, and more led yesterday’s headlines:

  • Matsuri Technologies (styled as “matsuri technologies”), a Tokyo-based provider of StayX, completed its Series D funding round, raising JPY 1.34 billion (USD 8.5 million). The round saw participation from new investors, including Vertex Ventures Southeast Asia and India (VVSEAI), along with existing investors.
  • BayaniPay, a payments automation company based in Los Angeles and the Philippines, raised an additional USD 3 million, bringing its Series A funding to USD 9.6 million. The fresh capital came from lead investors Wavemaker Partners, PTGB, and Talino Venture Studios.
  • Stanly, a platform designed for fans to connect, engage, and celebrate their favorite fandoms, raised USD 8 million in pre-Series A funding. The round was led by C Capital, with participation from AppWorks, Goodwater, and Palm Drive Capital.

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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