Beep closes USD 3.3 million pre-Series A round
Beep, a Singapore-based internet-of-things company, has raised USD 3.3 million in a pre-Series A funding round led by Granite Asia, Farquhar VC, SUTD Venture Holdings, and Wing Vasiksiri, with participation from M7 Ace Neo.
Founded in 2018, Beep operates Voltality, an integrated ecosystem of electric vehicle charging stations and payment services.
The IoT company will use the funds to accelerate its expansion in Thailand and Malaysia. In Thailand, it has signed contracts with Sharge, Evolt, WHA Group, and EVme, while in Malaysia, it partnered with Kineta and ChargEV to enhance EV charging and roaming innovation. Beep also plans to expand to other regional markets such as Indonesia and Vietnam by 2025. —e27
M-DAQ Global acquires Easy Pay Transfers
M-DAQ Global, a Singapore-headquartered fintech firm, has acquired Malaysian B2B payments service provider Easy Pay Transfers.
This acquisition is aimed at enhancing M-DAQ Global’s cross-border fintech solutions and expanding its footprint in the ASEAN region. Easy Pay Transfers offers transparent online payment services to businesses. This acquisition will bolster M-DAQ Global’s local payments capabilities in Malaysia, creating synergy with its existing B2B solutions for foreign exchange and cross-border payments. The move aligns with M-DAQ Global’s strategy to facilitate seamless cross-border transactions across regional currency corridors.
Antler invests USD 125,000 in Intellecs.ai
Intellecs.ai, a Singapore-based artificial intelligence-powered research and writing platform, has secured USD 125,000 in pre-seed funding from Antler.
The startup is currently developing a platform that helps students streamline their workflow by consolidating research, writing, and data analysis. It will utilize the funds to drive growth, marketing, and develop new features.
Said to have over 150,000 users, Intellecs.ai plans to launch its mobile apps in August. —e27
Recent deals completed in China:
- Tsingen Power, a micro gas turbine manufacturer, has secured an eight-figure RMB sum in a pre-Series A funding round led by Everchanting Fund, with participation from Yiyuan Aerospace. The funds will be used to complete the demonstration and customer delivery of its first micro gas turbine product within the year, accelerate product mass production, and expand its market reach. —36Kr
- Hengdao Technology, a Zhejiang-registered hot runner system developer, has raised over RMB 50 million (USD 6.9 million) in a Series B funding round solely invested by Vision Plus Capital. The funding will be used to enhance R&D in hot runner technology, expand production capacity, and scale its business. —36Kr
- Deep Blue Aerospace, a Nantong-headquartered aerospace enterprise specializing in reusable liquid rocket engines, has completed its Series B2 funding round, raising nearly RMB 1 billion (USD 138.2 million). The round was led by WNDVC. The capital will be used to strengthen technology R&D, expand production scale, optimize supply chain management, and accelerate market promotion. —36Kr
- Aerofugia, an electric vertical takeoff and landing (eVTOL) aircraft developer, has received an additional investment in its Series B funding round from Chengdu Heavy Industry Fund. This investment will accelerate its R&D and manufacturing in Chengdu, where the company is based. —36Kr
- MolBreeding Biotech, a genotyping and breeding technology company, has raised RMB 250 million (USD 34.6 million) in its Series B funding round. The round was led by 1.8 Meters Agricultural Technology, an agritech startup founded by former Ant Group CEO Hu Xiaoming. Lake Bleu Capital, Suzhou Capital Group, and Suzhou International Development Venture Capital (SIDVC) also participated. Existing investors Dalton Venture and Starlight Capital re-upped in the round. —DealStreetAsia
- LTZ Therapeutics, an immunotherapy-focused biotechnology company, has raised USD 20 million in a Series A funding round led by Lapam Capital. GL Ventures, affiliated with Hillhouse Capital Group, joined the round, with existing backers Qiming Venture Partners, K2 Venture Partners, and Shunwei Capital re-upping. —DealStreetAsia
Latest funding deals in India:
- BharatPe, a New Delhi-based fintech firm, has raised INR 850 million (USD 10.1 million) in debt through non-convertible debentures issued to Trifecta Capital and InnoVen Capital. This marks the second debt infusion in 2024 for the company. Earlier this year, BharatPe completed a USD 100 million debt round, with InnoVen Capital and Credit Saison as significant contributors. —Entrackr
- Vayana, a trade financing platform, has secured around INR 1.7 billion (USD 20.3 million) in its Series D funding round. The round was led by SMBC Asia Rising Fund, which invested INR 626 million (USD 7.4 million), with Chiratae Ventures and IFC contributing INR 417.4 million (USD 5 million) and INR 240 million (USD 2.8 million), respectively. Jungle Leaders, Quantum-State Investment Fund, and Emerald also participated with a combined investment of INR 424 million (USD 5.1 million). —Entrackr
- Rapido, a Swiggy-backed shared mobility company, has reportedly become a unicorn with a USD 120 million Series E funding round led by WestBridge Capital. WestBridge invested in Rapido through Setu AIF Trust, Konark Trust, and MMPL Trust. —Entrackr
- Simple Energy, an electric scooter maker, has raised USD 20 million in a Series A funding round from various family offices, including the Haran family office, Arokiaswamy Velumani’s family office, the Vasavi family office, and the Desai family office. The funds will be used to scale production of its key offerings, Simple One and Simple Dot One, and to support its entry into new markets across India. —Entrackr
AwanTunai, RevComm, Kargo Technologies, and more led yesterday’s headlines:
- AwanTunai, an Indonesian fintech firm, secured a IDR 300 billion debt facility from HSBC, financed by the bank’s USD 1 billion ASEAN Growth Fund, which was launched in March to support companies leveraging digital platforms across Southeast Asia.
- RevComm, a B2B software-as-a-service company specializing in AI-driven communication solutions, completed a USD 10 million pre-Series B funding round. The round saw continued support from existing investors Sony Innovation Fund (Innovation Growth Ventures), World Innovation Lab (WiL), and the All Star SaaS Fund, and participation from new investors Salesforce Ventures and TB Innovations. Additionally, the funding included a loan from the Upsider Blue Dream Fund and asset financing from Money Forward Kessai.
- Kargo Technologies, an Indonesia-based B2B trucking platform, reportedly secured fresh funding from various investors including AC Ventures and Tenaya Capital, according to regulatory filings.
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