FB Pixel no scriptDeals in brief: BroilerX raises pre-Series A funding, AC Ventures backs skincare brand Gmeelan, 14 other China and India deals, and more | KrASIA

Deals in brief: BroilerX raises pre-Series A funding, AC Ventures backs skincare brand Gmeelan, 14 other China and India deals, and more

Written by KrASIA Writers Published on   4 mins read

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

BroilerX raises IDR 23 billion in pre-Series A round

The Yogyakarta-headquartered poultry tech startup has reportedly raised IDR 23 billion (USD 1.47 million) following the completion of a pre-Series A funding round.

According to regulatory data from Alternatives.pe, this round saw the participation of Saison Capital, Insignia Ventures Partners, Kopital Ventures, and Orvel Ventures. The completion of this round brings BroilerX’s total funding to IDR 54.4 billion (USD 3.47 million).

This update was confirmed by one of the investors involved in this deal, according to DailySocial.

Based in Indonesia, BroilerX will allocate the newly raised capital toward the expansion of its business to serve poultry farmers in other provinces. The company did not specify which provinces it intends to expand into.

Recent deals completed in China:

  • Better MedTech, a Shanghai-based producer of specialized medical equipment, has raised close to RMB 100 million (USD 14 million) in a pre-Series A funding round jointly led by Sunland Fund and Vision Plus Capital. Lotus Lake Capital participated in this round. The company will use the funds to expand its pipeline and advance its clinical research. 36Kr
  • Lianzhang Menhu, a Huzhou-based developer of access control systems, has secured over RMB 100 million in Series C funding from the Huzhou government. The company will utilize the newly raised capital for mergers and acquisitions and to expand its footprint in urban areas. 36Kr
  • iMotorLinx, a provider of digital solutions for the electric drive industry, has bagged an eight-figure RMB sum following the completion of its pre-Series A funding round. ZSCO was the investor for this round. China Renaissance and China Renaissance Securities was appointed as the long-term exclusive financial advisor. iMotorLinx will utilize the funds to iterate and enhance its products. 36Kr
  • Gmee Biotech, a Guangzhou-based biotechnology company specializing in the formulation of skincare products, has secured an eight-figure RMB sum in a pre-Series A funding round led by AC Ventures with the support of Lightspeed China Partners. Waverider Capital was the financial advisor appointed for this round. The company will use the funds to innovate new products, improve its industry position globally, and acquire talent. Gmee Biotech is the company behind Gmeelan, a skincare brand. 36Kr
  • Newstart Planetary Gear Boxes, a Zibo-based manufacturer of high precision planetary gearbox, has bagged a nine-figure RMB sum in Series A+ funding from Hongtai Aplus. The funds will be used primarily for R&D. 36Kr
  • Zhongkehua Microelectronics, a Chengdu-based developer of integrated circuit products, has raised an undisclosed amount of angel funding from Beijing Yuanliu Hongyuan Electronic Technology. 36Kr
  • Powernice Intelligent Technology, a company focused on the development of actuator products, has bagged an eight-figure RMB sum of investment in a Series B funding round. The investors include Crystal Stream, NewMargin Ventures, and Nuodeng Shenghong, among others. 36Kr
  • BeanStar Coffee (also known as Bestar Coffee), a boutique coffee brand, has secured an eight-figure RMB sum in a Series A funding round led by Zhengyuan Capital. Shunwei Capital participated in this round. BeanStar intends to use the newly raised capital to recruit talent, expand its regional footprint, and conduct marketing and promotional activities. 36Kr
  • High Precision Reduction Gears, a technology company specializing in the development of precision reducers, has announced the completion of a new funding round, securing an undisclosed amount of strategic financing from Midea. 36Kr

Latest deals in India:

  • ConveGenius, an edtech startup specializing in artificial intelligence-based chatbots and adaptive learning platforms, has raised USD 7 million in a funding round from UBS Optimus Foundation, Mount Judi Ventures, as well as its existing investors including the Michael and Susan Dell Foundation (MSDF), Bace Capital, Heritas Capital, and Gray Matters Capital. ConveGenius will utilize the funds for market expansion.
  • Mahindra Last Mile Mobility Limited (MLMML), a last-mile mobility solutions provider and a subsidiary of Mahindra and Mahindra (M&M), will receive INR 4 billion (USD 48.2 million) in investment following the completion of a deal with its parent company and the India-Japan Fund (IJF), a fund managed by National Investment and Infrastructure Fund Limited (NIIF). —Moneycontrol
  • Amealio, a community-led food and entertainment platform, has raised an undisclosed amount of pre-seed funding. Its investors include SucSeed Indovation and ISF Angels. —YourStory
  • Salty, a fashion jewelry brand, has raised INR 54 million (USD 650,700) in funding from Anicut Capital, All in Capital, Suashish Diamonds, JK Group, and other investors. Salty will use the capital to expand its team and launch new product ranges. —Entrackr
  • The Baker’s Dozen, a bakery brand, has raised around USD 4 million in a pre-Series A funding round from Wipro Consumer Care Ventures, Mirabilis Investment Trust, She Capital, and existing investor Fireside Ventures. The funds will be used to expand the brand’s domestic presence and develop its product portfolio. —VCCircle
  • Upekkha, an accelerator focused on software-as-a-service startups, has hit the first close of its USD 40 million fund, securing USD 15 million from WestBridge Capital and Godard Abel (G2). WestBridge Capital led this investment. The fund is expected to invest in up to 70 early-stage startups this year and a total of 200 companies in three years, with an average check size of around USD 125,000. —DealStreetAsia

FlyOro, Polyhedra, Paytm, and more led yesterday’s headlines:

  • FlyOro, a Singapore-based sustainable aviation fuel (SAF) startup, secured USD 1.6 million following the completion of its pre-Series A funding round. The round was led by Audacy Ventures and saw participation from Investible’s Climate Tech Fund and other unnamed investors.
  • Polyhedra Network, a developer of zero-knowledge proof (ZKP) protocols, raised an undisclosed amount of Series A funding from OKX Ventures, the investment arm of crypto exchange and Web3 technology company OKX.
  • Indian fintech company Paytm invested INR 1 billion (USD 12 million) in the Gujarat International Finance Tec-City (GIFT City), a smart city project in Gujarat, India, through One97 Communications, its parent company. It will also set up a development center in GIFT City to build new technology solutions for users looking to invest in India.

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