Arkadiah Technology concludes seed round
Arkadiah Technology, a provider of artificial intelligence-based nature restoration solutions, has concluded its seed funding round, raising an undisclosed amount. The round was led by Golden Gate Ventures and saw participation from The Radical Fund and Money Forward Venture Partners (Hirac Fund).
Arkadish operates a proprietary platform that uses AI, light detection and ranging (LiDAR), satellite imaging, and ground truthing to provide transparent and verifiable data with scientific rigor. By digitizing the end-to-end process for project developers, landowners, and corporations, this platform streamlines deployment of nature-based climate solutions, such as reforestation and agroforestry for high-quality carbon removal and advancing biodiversity-rich ecosystems.
“[Its] groundbreaking AI-enabled approach to nature restoration is not just innovative, it’s a vital step toward our shared climate goals for 2030. Seeing the potential impact in Southeast Asia, a region close to our hearts, is especially exciting. […] Arkadiah is a big step toward a greener, more sustainable Southeast Asia, and I’m honored to be a part of this transformative journey,” said Justin Hall, partner at Golden Gate Ventures.
Sygnum raises over USD 40 million in oversubscribed round
Sygnum, a digital asset banking company, has raised over USD 40 million against an initial USD 35 million target in an interim close of its latest funding round. The company’s post-money valuation stands at USD 900 million as of this interim close.
Azimut Holding is the lead investor for this round and is joined by other new and existing investors, including Sygnum employees.
Sygnum will use the proceeds from this round to expand into new markets and expedite the development of its fully regulated products such as its B2B platform, which now powers the crypto offerings of over 15 banks and financial institutions globally.
“We are pleased to have led Sygnum’s Strategic Growth Round fundraising at this topical moment when the demand for well-regulated, institutionalized services in crypto looks set to surge in 2024. […] We strongly believe in the evolution of technology and its positive impact on the investments industry, so we are delighted to contribute to the growth of Sygnum in a round that strengthens its position as a leading financial institution in the digital asset sector,” said Giorgio Medda, CEO of Azimut Holding.
Addlly AI completes seed round
Addlly AI, a Singapore-based company specializing in generative AI, has completed its seed funding round at a valuation cap of SGD 5 million. The exact sum raised was not disclosed.
Accessible through a B2B software-as-a-service digital marketing platform, Addlly’s tools enable users to customize the tonality of generated content, conduct fact checks for accuracy, and generate AI images to elevate content quality.
According to a statement from Addlly, the capital will be utilized to fuel its growth trajectory. The company plans to develop advanced video and brand image tools, enhancing its offerings. Additionally, there is a commitment to improving social listening features, providing users with more profound market analyses and insights.
Living Lab Ventures launches biomedical fund in Indonesia
Living Lab Ventures (LLV), the corporate venture arm of Sinar Mas Land, has launched a biomedical fund in Indonesia. This newly established fund is geared towards supporting companies within the biomedical sector, encompassing research centers, biobanks, health tech startups, and more. Its primary objective is to foster the development of more efficient and competitive solutions, ultimately contributing to the enhancement of Indonesia’s health sector.
The introduction of this new fund underscores LLV’s strategic move to diversify its portfolio beyond the prop tech sector. To date, LLV has supported 27 startups across various domains, including smart tech, digital life, and mobility. This expansion signals LLV’s commitment to exploring and investing in a broader range of innovative ventures, aligning with the dynamic landscape of emerging industries.
Three Indonesian climate tech startups received funding from NEX Ventures in 2023
New Energy Nexus (NEX) Ventures, an investment firm focused on clean tech and climate tech in Southeast Asia, has disclosed that it funded three Indonesian startups last year.
These three startups are developing solutions critical to Indonesia’s climate and energy goals. They are:
- SolarKita provides end-to-end solar services for the residential market to build an integrated community of rooftop solar users.
- Synergy Efficiency Solutions (SES) designs, finances, and implements a range of energy efficiency solutions.
- Swap Energy develops swappable battery technology that enables riders to effortlessly exchange depleted batteries.
NEX Ventures, through its Indonesia 1 Fund, jointly invested in SolarKita and SES with Schneider Electric Energy Access Asia (SEEAA) and Southeast Asia Clean Energy Facility (SEACEF), respectively. The firm also participated in Swap Energy’s Series A funding round, which concluded in December last year.
“Despite a 40% decrease in global funding across the climate tech sector last year, these three startups have demonstrated their resilience by achieving success in fundraising,” said Yeni Tjiunardi, managing director at NEX Ventures.
“We are committed to supporting disruptive and agile startups and founders that can accelerate the clean energy transition. Our optimism extends to the potential opportunities for emerging early-stage ventures in addressing climate challenges, not only in Indonesia but also in other Southeast Asian countries, such as the Philippines and Vietnam,” Tjiunardi added.
SUTD launches “Baby Shark Fund” to support student-led innovation projects
The Singapore University of Technology and Design (SUTD) has launched a new SGD 3.2 million fund to support “micro-innovation” ideas from its students.
Dubbed the “Baby Shark Fund,” the new fund is named after the reality television series Shark Tank and aims to encourage SUTD’s students to “venture into uncharted grounds beyond the classroom” and experiment with their innovative ideas. The fund will provide up to SGD 6,000 for each team of at least two students. It is expected to complement existing funding programs for more advanced projects that may culminate in the formation of startups.
“With the new Baby Shark Fund, we hope to provide every student with the opportunity to engage in bottom-up innovation by experimenting continuously. This will hopefully spur them to embark on a lifelong innovation journey of continuous experimentation and risk-taking, and in so doing, champion and lead innovation for society in years to come,” said Chong Tow Chong, president of SUTD.
Aniai raises USD 12 million in pre-Series A round
Aniai, a South Korean kitchen robotics company, has raised USD 12 million in a pre-Series A funding round led by InterVest. The round also saw participation from SV Investment, Ignite Innovation, and existing investors Capstone Partners.
The funds will enable Aniai to accelerate the launch of its inaugural dedicated manufacturing facility, named Factory One, in South Korea. This facility aims to ensure stable production and efficient supply chain management for Alpha Grill, the company’s burger cooking robot.
Recent deals completed in China:
- Yixinneng, a Dongguan-based developer of liquid cooling systems, has recently secured an eight-figure RMB sum exclusively invested by Yisheng Industrial Fund, raising its post-money valuation to RMB 150 million. Yixinneng intends to utilize the funds for capital expenditures, supporting working capital and implementing projects related to production capacity, including plants and equipment. —36Kr
- Nantong Junfeng New Material, a technology company focused on the R&D and production of microelectronic materials, has raised an eight-figure RMB sum in a Series A funding round from Qianrong Investment Holding Group. Galaxy Capital served as the long-term exclusive financial advisor. The proceeds from this round will be allocated toward R&D, business expansion, and production capacity enhancements. —36Kr
- Huoshan Innovation, a Beijing-based company that has developed SpeakGuru, an LLM-based English language speaking app, has completed a seed funding round, raising a seven-figure RMB sum. The funds came exclusively from a subsidiary of Haibao Information and will be used for R&D, third-party service expenses, and operational and promotional expenditures. —36Kr
- Sciensee Technology, a Shanghai-based company specializing in wafer measurement tools as well as precision manufacturing and testing equipment, has announced the conclusion of its Series A+ funding round, bagging an eight-figure RMB sum. The investors include Wofo Ventures, GL Ventures, Qilin Ventures, and Hemu Ventures. Sciensee will use the funds to establish a production base in Nanjing to expand its annual production capacity. —36Kr
- Hymater New Materials, a Ningbo-based enterprise focused on developing membrane separation technology, has secured an eight-figure RMB sum in a Series A funding round jointly led by FG Venture and Morning Spring Venture, with participation from the Ningbo Intellectual Property Operation Fund. InvesTarget served as the exclusive financial advisor. The capital will be allocated toward production capacity expansion and product R&D. —36Kr
Latest funding activities in India:
- Bookingjini, a travel tech startup, has secured an undisclosed amount of pre-Series A funding from Inflection Point Ventures (IPV). The capital will be utilized for product development and customer acquisition initiatives. —VCCircle
- MakeMyTrip, a travel booking platform, has acquired a majority stake in Savaari Car Rentals, an intercity cab service provider. The move is part of MakeMyTrip’s expansion strategy to diversify its offerings. Following the acquisition, Savaari will continue to operate as an independent entity, led by its existing leadership team. —Inc42
- Newme, a Bengaluru-based fast fashion brand targeting young consumers, has raised USD 5.4 million in a seed funding round. The round was led by Fireside Ventures and saw participation from existing investors Aum Ventures, 2am VC, and All In Capital. Newme plans to utilize the capital to strengthen its supply chain, scale its manufacturing across the country, and expand its offline presence to 20 cities. Additionally, the funds will be allocated to build a robust technology team over the next 12 months. —The Economic Times
Motorist, GDMC, Prism BioLab, and more led yesterday’s headlines:
- Motorist, a Singapore-based automotive technology company, announced that Tokyo Century Leasing is leading its ongoing Series A funding round as a strategic investor. Existing investors from an AngelCentral syndicate have also participated in this round.
- Genetic Design and Manufacturing Corporation (GDMC), a design and manufacturing organization that specializes in advanced genetic therapies, secured USD 21 million in a Series A funding round led by Celadon Partners. The round included participation from WI Harper Group, SEEDS Capital (Enterprise Singapore), and NSG Ventures, among other unnamed investors.
- Prism BioLab, a Fujisawa-headquartered biotechnology company, raised JPY 1.5 billion (USD 10.1 million) in a Series C funding round. The company did not disclose the investor details for this round.
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