FB Pixel no scriptDeals in brief: Dagangan secures funding from Kejora-SBI Orbit Fund, Saison International invests in Mongolia, ten China and India deals, and more | KrASIA

Deals in brief: Dagangan secures funding from Kejora-SBI Orbit Fund, Saison International invests in Mongolia, ten China and India deals, and more

Written by KrASIA Writers Published on   4 mins read

Bringing you the latest updates on funding deals and activities in the Asia Pacific.

Dagangan secures additional funding from Kejora-SBI Orbit Fund

Dagangan, an Indonesian rural commerce startup, has received additional funding from the Kejora-SBI Orbit Fund. Billy Boen, partner at Kejora Capital, confirmed this in a statement released on LinkedIn.

Founded in 2019, Dagangan focuses on serving tier-three and tier-four cities in Java, supporting small and medium enterprises in the region with a hub-and-spoke delivery model. The startup said its supply chain model can reduce selling prices by 20% and double the revenue of participating retailers.

The Orbit Fund is a USD 30 million collaboration launched by Kejora Capital and SBI Holdings in June 2020 to support early-stage Indonesian startups. The investment in Dagangan marks the conclusion of the fund and Kejora Capital is shifting its focus to Maven Asia Capital next, a joint venture with SBI.

NFC Indonesia subsidiary ESB secures pre-Series A funding

Energi Selalu Baru (ESB), a subsidiary of NFC Indonesia (NFCX), has secured an undisclosed sum from LX Ventures and SAIC Capital in its pre-Series A funding round. This investment follows funding ESB previously received from Rigel Capital and Twin Towers Ventures.

ESB is a mobility company specializing in electric vehicles, manufacturing electric two-wheelers under the Volta brand. It intends to utilize the newly raised capital to accelerate product development, expand market reach, and enhance its technological capabilities.

Saison International invests USD 14 million in Mongolia

Saison International, the international arm of Credit Saison, has made its first foray into Mongolia with a USD 14 million investment through Golomt Bank and M Bank. This investment will be managed by Saison Investment Management Private Limited (SIMPL).

Golomt Bank, Mongolia’s leading commercial bank, and M Bank, wholly owned by MCS Group, are the recipients of this investment. The funds will support the expansion of lending portfolios specifically targeting micro, small, and medium enterprises (MSMEs), individual retail borrowers, and women-owned businesses.

Recent deals completed in China:

  • Calterah Semiconductor Technology, a developer of CMOS radar chips, has raised an undisclosed amount in a Series D funding round. The investors include Guoxin Investment, Fujian Capital, CMG-SDIC Capital, and Walden International, among others. The funds will be used for product R&D, market expansion, and promoting millimeter-wave radar technology in the automotive and industrial markets. 36Kr
  • Yunlu Composites, a composite materials company, has secured tens of millions of RMB in a pre-Series B funding round led by Guiyang Venture Capital. The capital will be used to advance the application of carbon fiber composites in high-end fields such as drones and aerospace. 36Kr
  • SiliconFlow, an AI infrastructure startup, has raised close to RMB 100 million (USD 13.7 million) in an extended angel funding round. The round was led by an undisclosed industrial investor, with participation from Zhipu AI, 360, the Shuimu Tsinghua Alumni Seed Fund, and returning investor Glory Ventures. China Renaissance served as the sole financial advisor. 36Kr
  • ULS Robotics, a developer of exoskeleton robots, has raised tens of millions of RMB in a Series A+ funding round led by Dunhong Capital Management. The investment will support the launch of affordable exoskeleton robot products. 36Kr
  • Guofan Keji, a software development company, has secured RMB 26 million (USD 3.5 million) in a Series A round of financing led by ByteCapital. 36Kr
  • Eplus3D, an enterprise specializing in industrial-grade 3D printing technology, has raised an undisclosed amount from Bingzhuang Fund, SDIC Unity Capital, and Findowin Capital. The capital will be used to increase its production capacity. 36Kr

Latest funding deals in India:

  • Oyo, a Gurugram-based hospitality company, has raised INR 4.16 billion (USD 50 million) from InCred Wealth and Investment. This is Oyo’s first funding round in almost three years. Oyo plans to use the funds for growth, global expansion, and enhanced business plans. —Entrackr
  • Bike Bazaar, a Pune-based retail financier serving the two-wheeler industry, has raised INR 250 million (USD 3 million) in debt from MAS Financial. The funds will be used to scale its marketplace and expand its presence in the rural market. —Entrackr
  • Purplle, an online marketplace for beauty products, has raised INR 10 billion (USD 120 million) in a funding round led by a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA). The round includes primary and secondary shares. —Entrackr
  • Comet, a D2C sneaker brand, has raised INR 423 million (USD 5 million) in a Series A funding round led by Elevation Capital. Comet plans to use the proceeds for capital expenditures, marketing, and general corporate purposes. —Entrackr

Cooby, Superbank, Oretha, and more led yesterday’s headlines:

  • Cooby, a WhatsApp conversational sales platform, closed its seed funding round, securing USD 1.75 million and bringing the company’s total funding to date to USD 4.75 million. The round was led by Shilling VC, with participation from existing investors Peak XV’s Surge and Pear VC.
  • Superbank, an Indonesian digital bank, raised an additional investment of IDR 1.2 trillion (USD 73.3 million) from shareholders Grab, Singtel, and KakaoBank.
  • Oretha, a senior care provider in Malaysia, completed its equity crowdfunding campaign, raising MYR 499,200 (USD 105,770) with co-investment from MyCIF.

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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