Atome raises USD 31 million from parent firm
The Singapore-based fintech company has raised USD 31 million from Advance Intelligence Group, its parent company.
According to Tech in Asia, Atome said the capital is a result of internal share conversions between the group and its business units, but did not specify what it would be used for.
Atome renewed and expanded its USD 100 million debt facility with HSBC Singapore last year to support its entry into the Philippines and other key markets, and to launch new consumer financing products. The company is most commonly known for its buy now, pay later (BNPL) services.
Asia Partners hits final close of second fund at USD 474 million
The Singapore-based equity investment firm has announced the final close of its second fund at USD 474 million in commitments.
The limited partners of this fund include family offices as well as institutional and individual investors spanning six continents, with returning investors such as the International Development Finance Corporation and Financial Investments Corporation from the US, the German Investment Corporation (also known as the Deutsche Investitions — und Entwicklungsgesellschaft), and Canada’s Generation Capital. Over 9% of the fund’s capital is from Asia Partners’ employees and advisory board members.
Notably, this fund is 23% larger than the firm’s inaugural fund (USD 384 million), which completed its final close in March 2021.
Metalpha invests in NextGen Digital Venture
Metalpha Technology, a crypto-based wealth management company, has invested an undisclosed amount in NextGen Digital Venture (NDV).
This investment follows the launch of Next Generation Fund I by both companies in April last year, which is a structured investment channel focusing on Grayscale Investments’ suite of products. According to Metalpha’s statement, the latest investment will strengthen the partnership between both companies and provide institutional investors with compliant investment channels for exposure to digital assets.
Cult Creative secures MYR 500,000 to build new platform
The Malaysian creator-focused platform has secured MYR 500,000 (USD 107,600) in seed funding from The Hive Southeast Asia. The company uses technology to aid brands in discovering creators, streamlining workflows, and facilitating creator payments.
According to Vulcan Post, Cult Creative will use the funds to develop its new proprietary creator collaboration platform, invest in community building initiatives, and enhance the technology, user experience, and scalability of its solutions.
Cult Creative will also undertake a new project by the name of CultPay, which will be an alternate credit scoring system designed to help creators achieve financial freedom.
Recent deals completed in China:
- Eieling Technology, a Hong Kong-headquartered medtech company specializing in ultrasound diagnostics, has raised close to RMB 10 million (USD 1.4 million) from various investors. The company did not disclose the names of the investors. —36Kr
- Lanmei Technology, a Shaoxing-based agritech company, has banked a nine-figure RMB sum in a Series B funding round jointly led by a China Merchants Group-managed fund and the Guizhou Zhongken Fund. Existing investor CICC Capital contributed to this round. Lanmei will use the funds to expand its supply chain and enhance its technology to refine its competitive advantage. —36Kr
- Rokid, a Hangzhou-based human-computer interface (HCI) technology company focused on augmented reality wearables, has bagged around RMB 500 million (USD 70.4 million) in a Series C+ funding round led by Hefei’s municipal government with the support of several institutional investors. As part of this deal, Rokid will embark on several projects in collaboration with the Hefei Xinzhan High-tech Industrial Development Zone. —36Kr
- Bestar Coffee, a boutique coffee brand, has secured an eight-figure RMB sum following the completion of a Series A funding round. The round was led by Zhengxuan Capital and saw participation from Shunwei Capital. Bestar will utilize the funds for talent acquisition, market development, and promotional activities. —36Kr
- Longsheng Optronics (Chiefway), a Shanghai-based technology enterprise specializing in the development of liquid crystal dimming films, has raised close to RMB 100 million in a Series B+ funding round jointly led by Addor Capital and Ancheng Capital. InvesTarget acted as the exclusive financial advisor. The company will use the capital to construct its production line, acquire new talent and equipment, and invest in R&D. —36Kr
- Tanovo, a provider of compliance and governance solutions for network security, has completed its latest funding round, securing an undisclosed amount of investment from Addor Capital and the Anhui Anyuan Investment Fund. The funds will be used primarily for technology R&D and to enhance the company’s capabilities. —36Kr
- Ameba Capital, a venture capital firm specializing in enterprise and IT services, has raised RMB 500 million for its latest RMB-denominated. Among the limited partners (LPs) of the new fund are the Chengdu Hi-tech Industrial Development Zone (CDHT) Angel Investment Guidance Fund, along with other undisclosed state-affiliated guidance funds, family offices, and industry groups. The focus of this new fund is on investments in the smart hardware sector, with a particular emphasis on solutions enhanced by artificial intelligence-generated content (AIGC). —DealStreetAsia
Latest deals in India:
- Accio Robotics, a Bengaluru-based warehouse robotics company, has secured USD 1.8 million in a pre-Series A funding round. The investors include Big Capital, Unisync Angels, Daniel Fitzgerald, and existing investors Roots Ventures and Anuj Bihani. The startup intends to launch its product globally next month.
- Amaha (formerly InnerHour), a Mumbai-based mental health startup, has raised USD 4.4 million in an extended Series A funding round from Fireside Ventures and Lightbox Ventures. —Entrackr
- Slurrp Farm, a Gurugram-based children-focused food and snack brand, has bagged INR 599 million (USD 7.2 million) in funding from Alkemi Ventures, Madhurima International, Sharp Ventures, as well as existing investors Fireside Venture and Raed Capital. —Entrackr
- Fittr, a Pune-based health and fitness solutions provider, has secured INR 280 million (USD 3.3 million) from Rainmatter by Zerodha. —Inc42
- Riskcovry, a Mumbai-based insurtech company, has raised around USD 4.5 million in a bridge funding round led by Morphosis Capital with the support of India Infoline Finance (IIFL). —Inc42
- Kidbea, a plant-based kidswear brand, has secured USD 1 million in a pre-Series A funding round led by Venture Catalysts. The round also saw participation from Agility Ventures, BestVantage Investments, as well as angel investors Sandeep Aggarwal (Droom), Upasana Aggarwal (Droom), Ashok Bahadur, and Hiro Mizushima. Kidbea will utilize the funds for marketing, team building, and R&D. —VCCircle
Semaai, Komunal, OnCusp Therapeutics, and more led yesterday’s headlines:
- Semaai, an Indonesian agritech startup, raised USD 4.7 million in a pre-Series A funding round, featuring a mix of debt and equity financing. CyberAgent Capital, a Japan-based early-stage corporate venture capital firm, led the round with support from Sumitomo Corporation Equity Asia, Ruvento, MyAsiaVC, Heracle Ventures, along with existing investors Surge by Peak XV Partners, Accion Venture Lab, and Beenext.
- Komunal, an Indonesian fintech company, confirmed the completion of its Series A+ funding round, securing USD 5.5 million. The round was led by Sumitomo Corporation Equity Asia and saw participation from JAFCO Asia, Skystar Capital, Sovereign Capital, and Gobi Partners.
- OnCusp Therapeutics, a New York-headquartered biopharmaceutical company, raised USD 100 million in an oversubscribed Series A funding round jointly led by Novo Holdings, OrbiMed, and F-Prime Capital. Sofinnova Investments, Catalonia Capital Management, Marshall Wace, Forge Life Science Partners, Blackbird BioVentures, CJNV BioVenture, along with existing investor BioTrack Capital, also committed to this round.
If there are any news or updates you’d like us to feature, get in touch with us at: [email protected].