FB Pixel no scriptDeals in brief: Boost Capital and CHOYS secure new capital to fuel expansion, and more | KrASIA

Deals in brief: Boost Capital and CHOYS secure new capital to fuel expansion, and more

Written by Gideon Ng Published on   2 mins read

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

Boost Capital secures USD 2.5 million to fuel SaaS platform expansion

The Singapore-headquartered SaaS platform has secured USD 2.5 million in a seed funding round with participation from Village Global, Iterative Ventures, Hustle Fund, Epic Angels, Xcel Next, Insitor, and other investors.

Boost Capital plans to utilize the funds to expand into new markets, scale its product team, and establish partnerships with new banks. —e27

CHOYS raises USD 1.1 million in seed funding to expand SaaS insurtech platform

The Singapore-based SaaS insurtech platform has concluded a seed funding round, raising USD 1.1 million. Investors that participated in the round include Wing Vasiksiri, Foremast, Antler, and Fintech Nation Fund.

The funds will support CHOYS’ go-to-market strategy in Southeast Asia and strengthen its product development initiatives. —e27

Vulcan New Material completes new round of equity funding

The Chinese high-temperature materials company has completed a new round of equity funding worth a nine-figure RMB sum, with participation from Orient Securities Capital and Yufu Holding. 36Kr

SpacemiT secures nine-figure RMB investment in Series A round

The Chinese computing chip company has secured a nine-figure RMB investment in a Series A funding round led by Lenovo Capital and Incubator Group, as well as Legend Capital. Other China-based investors also participated in the round.

SpacemiT will use the newly raised capital to fund the R&D of its next-generation RISC-V CPU products and to support its market expansion. 36Kr

PN Junction Semiconductor raises new funds from Dongfeng Asset Management

The Chinese semiconductor company has raised new funds from Dongfeng Asset Management, a direct investment platform managed by Chinese state-owned automobile manufacturer Dongfeng Motor Corporation.

PN Junction Semiconductor will also collaborate with original equipment manufacturers, including Dongfeng Motor Corporation as well as Voyah, its sub-brand and electric vehicle division, on EV-focused silicon carbide solution developments. 36Kr

Zdeer, Xverse, and Basa led yesterday’s headlines:

  • Zdeer, a Chinese health tech company has concluded two consecutive funding rounds, raising over RMB 100 million (USD 13.7 million) in 2023 thus far. It recently raised capital from CICC Huirong via a Series B funding round completed midyear, building upon a Series A++ round of financing that was completed earlier this year.
  • Xverse, a Hong Kong-based Bitcoin wallet development company, raised USD 5 million in a seed funding round led by Jump Crypto. Other investors like RockawayX and NGC Ventures also participated. The funds will be directed towards enhancing the platform’s capabilities, particularly in decentralized finance and Bitcoin-related solutions.
  • Basa, a Shenzhen-based mobile home appliance company, secured RMB 5 million (USD 589,000) in an angel round of financing from an undisclosed investor. The funds will be utilized for research and development of new mobile home appliance series, including high-end pocket vacuum cleaners and mite removal devices.

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