FB Pixel no scriptDeals in brief: Bioniqa and Term Structure secure funding, LeapFrog announces USD 500 million climate strategy, multiple China and India deals, and more | KrASIA

Deals in brief: Bioniqa and Term Structure secure funding, LeapFrog announces USD 500 million climate strategy, multiple China and India deals, and more

Written by KrASIA Writers Published on   6 mins read

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

Bioniqa secures funding from Bali Investment Club

Bioniqa, an Indonesian clean tech startup, has secured an undisclosed amount of funding from the Bali Investment Club (BIC).

Founded this year, Bioniqa has invented a proprietary algae-based carbon capture technology. This innovation facilitates the creation of photobioreactors, which transform carbon footprints into carbon and oxygen credits. These devices are designed to combat air pollution in urban areas, enhancing outdoor air quality while offsetting carbon emissions and generating oxygen.

The company is co-founded by Rama Raditya and Andre Hutagalung, who are also the co-founders of Qlue, a smart city solutions provider.

Bioniqa will use the funds to develop a laboratory and algae plantation, and enhance the capabilities of its photobioreactors by further advancing its internet-of-things technology. —DailySocial

Term Structure raises USD 4.25 million in seed funding

Term Structure, a decentralized finance (DeFi) protocol for non-custodial fixed-income solutions, has raised USD 4.25 million in a seed funding round led by Cumberland DRW. The round also saw the participation of Decima Fund, HashKey Capital, Longling Capital, and the MZ Web3 Fund.

LeapFrog backed by Temasek and EIB to tackle climate change in Africa and Asia

Private investment firm LeapFrog Investments has announced its strategy to invest USD 500 million in companies with green solutions tailored to Africa and Asia.

LeapFrog has received the backing of Temasek and the European Investment Bank (EIB) to execute this strategy. In 2021, Temasek committed USD 500 million to Leapfrog to anchor its future investing activity, of which USD 100 million has been earmarked to support the latest strategy. EIB’s involvement in this strategy also represents its fifth investment with LeapFrog. Other investors supporting this strategy will be revealed in due course, according to a statement released by LeapFrog.

The strategy will focus on investments in companies that are developing climate-focused solutions for the energy, mobility, built environment, and agricultural sectors. They include electric vehicles, rooftop solar providers, smart farming businesses, and more.

Nexl completes new funding deal at AUD 31 million valuation

Nexl, a developer of customer relationship management (CRM) software for law firms, has raised AUD 6 million (USD 3.96 million) in a deal that values the company at AUD 31 million (USD 20.4 million).

The latest round follows just six months after Nexl had raised AUD 4 million (USD 2.64 million) in a round led by Shearwater Capital. EVP also participated in that round.

The company plans to use the capital to “slow down” and strategically grow the business in Australia, Europe, and the US. —Australian Financial Review

Happenco closes its inaugural fund at AUD 12 million

The Australian venture capital fund has announced the closure of its first fund at AUD 12 million (USD 7.92 million).

Specializing in pre-seed investments, Happenco has already deployed 60% of the AUD 12 million across 16 companies including Neara, The Spec Sheet, and EdTripper, among others. It will also provide advisory services to founders.

Happenco is backed by a myriad of investors, including Michael Rennie (formerly from McKinsey), Jeeva Suresh (Helix Collective), and several family offices. —Australian Financial Review

EnvisionVR completes AUD 2.6 million round

The Australia-headquartered prop tech startup has completed its latest funding round, raising AUD 2.6 million (USD 1.71 million) from investors specializing in the property sector, including the family office of Michael Holm (Balmain Corporation). The funds will enable EnvisionVR to expand internationally. —Australian Financial Review

Recent deals completed in China:

  • Casivision, a Luoyang-based industrial vision system developer, has secured a nine-figure RMB sum of investment in a Series C+ funding round. The investors include a China Mobile-managed fund, CAS Capital, Haitong Creative, Shenyin Wanguo Innovation Securities Investment, and Qixin Capital, among others. The funds will be used primarily for R&D and market expansion. —36Kr
  • TopOlefin Technology, a Quzhou-based enterprise specializing in optical resin production, has secured RMB 1 billion (USD 141.1 million) in a strategic financing round led by Resonance Venture Capital. Investors that took part in this round included CDG Capital, Houxue Capital, and existing investor Raystone Capital (RSC). TopOlefin intends to allocate the funds toward the construction of its project’s second phase and to replenish working capital.  —36Kr
  • Chuhui Technology, a Suzhou-based developer of new energy battery platforms, has announced the completion of a pre-Series A+ funding round, raising an eight-figure RMB sum. The round was led by Zhongxin Zhidao Venture Capital with the support of various investors. The company will utilize the funds for technology R&D and market expansion. —36Kr
  • Xuanbo Craft, a craft beer brand, has secured close to RMB 100 million (USD 14.1 million) in a Series B round of financing. It will use the funds mainly to initiate a US IPO in 2024. The company’s listing guidance work is already underway. —36Kr
  • Tachem, a Chengdu-based biotechnology company, has bagged around RMB 300 million (USD 42.3 million) in a Series A+ funding round led by CITIC securities and a fund jointly established by Goldstone Investment and Kweichow Moutai. The round also saw participation from Qiming Venture Partners, Highlight Capital, Grandway Capital, and existing investors GL Ventures, CICC Qichen (CICC Capital), and GF Xinde Investment. Tachem will use the funds to fast-track the development of its phase two and phase three factories. —36Kr
  • Xinghe Haoyue, a Chengdu-based internet services and solutions provider, has raised an undisclosed amount of angel investment. It will utilize it for production development and brand promotion, among other areas. —36Kr
  • Uservice, a computer numerical control (CNC) after-sales servicing platform, has completed a pre-Series A funding round, raising an eight-figure RMB sum from Immensus Capital. Wave Capital acted as the exclusive financial advisor. The company will use the funds to construct its cloud platform and service centers. —36Kr
  • Dis Mask, a subsidiary of China Resources Microelectronics (CR Micro), has raised RMB 520 million (USD 73.2 million) in a Series B funding round. The round saw participation from CICC Capital, CITIC Securities, Hengchuang Investment, and Phoenix Tree Capital Group. Dis Mask, a photomask manufacturer, will use the funds to enhance its production capabilities. —DealStreetAsia

Latest venture capital deals in India:

  • ShipGlobal, a cross-border logistics company, has secured USD 2.5 million from InfoEdge Ventures, an early-stage venture capital firm created by Info Edge and Temasek. The funds will enable ShipGlobal to enhance its technology, streamline operations, expand its export routes, and optimize its network. —VCCircle
  • Twyn, a Noida-based software startup specializing in the creation of “phygital twins,” has raised USD 1.25 million in a pre-Series A round jointly led by JITO Incubation and Innovation Foundation (JIIF) and Ah! Ventures. The round also saw participation from Hem Angels, BestVantage, and Beej Network. Twyn will allocate the capital toward its expansion in the Middle East and Europe, and to hire talent for its leadership team in India and Dubai. —VCCircle
  • OneDios, a Noida-headquartered customer request aggregation platform, has raised INR 60 million (USD 720,000) in a bridge funding round jointly led by Inflection Point Ventures (IPV) and Venture Catalysts. It will utilize the funds to support its operations, sales, and marketing, develop its technology stack, and onboard retailers. —VCCircle
  • PatilKaki, a D2C snack brand, has raised an undisclosed amount in a funding round led by Cap70 Angels. The round also saw participation from angel investors Agnelorajesh Athaide and Kailash Biyani. The company will use the funds to scale its operations and expand its sales and distribution setup. —VCCircle
  • Bitsila, a Bengaluru-based e-commerce enablement platform, has raised an undisclosed amount in a pre-seed funding round from Antler and Phanindra Sama (Redbus). The startup will use the funds for business development, talent acquisition, and to enhance its technology. —VCCircle

Fr8Labs, Rich Data Co, Immensa, and more led yesterday’s headlines:

  • Fr8Labs, a Singapore-based logistics startup, raised USD 1.5 million in a seed funding round from East Ventures, FEBE Ventures, Seedstars, Venturra, Mulia Sky Capital, Kaya Founders, and angel investors.
  • Rich Data Co, a Sydney-headquartered fintech company secured USD 17.5 million in a Series B funding round, with Westpac and nCino leading the investment, and participation from BMYG and Octava Fund.
  • Immensa, a Dubai-founded outfit specializing in additive manufacturing and 3D printing for industrial applications, secured USD 20 million in a Series B funding round.

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


Auto loading next article...