FB Pixel no scriptDeals in brief: CompAsia secures Series A funding, Singapore welcomes new biotech incubator, and more | KrASIA

Deals in brief: CompAsia secures Series A funding, Singapore welcomes new biotech incubator, and more

Written by Gideon Ng Published on   3 mins read

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

CompAsia secures undisclosed amount in Series A round

The Southeast Asian reverse commerce platform has secured an undisclosed amount in a Series A funding round led by Gobi Partners. CompAsia will use the funds to enhance its operational capabilities, refine digital assets and its marketing strategies, and expand into new markets including the Philippines, Thailand, and Indonesia.

Biotech incubator co11ab Novena launches in Singapore to advance healthcare innovation

Coinciding with its launch, the new Singapore-based biotech incubator has announced the securing of SGD 15 million (USD 11 million) in funding for its operations.

Supported by Nanyang Technological University, the Agency for Science, Technology and Research (A*STAR), and the National Healthcare Group, co11ab Novena will focus on driving innovation in the healthcare sector.

The incubator will operate out of a physical space located in NTU Lee Kong Chian School of Medicine’s Novena campus, easily accessible to startups looking to tap into its clinical and research expertise. Startups such as RNAscence Biotech, LambdaGen Therapeutics, and HeHealth are already benefiting from its support.

Pi-xcels secures USD 1.7 million in seed funding to transform retail transactions

The Singapore-based digital receipt solutions company has concluded its seed funding round, raising USD 1.7 million. The round was led by Wavemaker Partners and drew the participation of other venture capital firms including Hustle Fund, Amand Ventures, Black Kite Capital, and multiple angel investors.

The funds will be directed towards global business development initiatives focusing on the expansion of the company’s presence in Europe, and to support its key projects in Japan and Southeast Asia.

CakeResume raises USD 5 million in Series A round to expand Asia’s tech talent pool

The resume builder and talent platform has secured USD 5 million in its Series A funding round, with Japanese human resources company Mynavi leading the investment. —DealStreetAsia

Latest deals completed in China:

  • SORL, a Chinese platform for automotive aftermarket parts, has raised around RMB 500 million (USD 68.5 million) in a Series B funding round led by funds managed by a CICC Capital-managed fund. The round also saw participation from various Chinese investors. 36Kr
  • Ultron Photonics, a Zhejiang-headquartered ultrafast laser R&D and production company, has raised an undisclosed amount of investment in a Series B funding round backed by Rising Investments. 36Kr
  • Meio Medical, a Chinese cardiac-focused technology company, has completed its Series A+ funding round, raising an undisclosed amount. The lead investor of the round is Shanghai Creation Investment. 36Kr

Solar AI, Alva, and FlashIntel led yesterday’s headlines:

  • Solar AI, a Singapore-based solar photovoltaics startup, raised USD 1.5 million in a seed funding round led by Earth Venture Capital, with participation from Undivided Ventures, Investible, and climate tech angel investor David Pardo. The funding will be used to expand Solar AI’s rent-to-own solar initiative in Singapore and plan regional expansion in Southeast Asia over the next 12 months.
  • Alva, an Indonesian electric two-wheeler manufacturer, concluded a Series B funding round raising USD 50 million. Horizon Ventures led the round, joined by Indika Energy, HH-CTBC Partnership LP (Foxconn Co-GP Fund), and family office Brama One Ventures. The funds will support product development and the expansion of Alva’s consumer base in Indonesia.
  • FlashIntel, a Singapore-based market intelligence and sales tech platform, raised USD 10 million in a seed funding round. Investors including Celtic House Venture Partners, UpHonest Capital, and Hat-Trick Capital participated in the round.

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


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