FB Pixel no scriptDeals in brief: Disprz and DotBio secure new funding, South Korean giants back AI startup, and more | KrASIA

Deals in brief: Disprz and DotBio secure new funding, South Korean giants back AI startup, and more

Written by Gideon Ng Published on   3 mins read

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

Disprz secures USD 30 million in Series C round

The India-based enterprise software-as-a-service learning and skilling platform has secured USD 30 million in a Series C funding round led by Lumos Capital Group and 360 ONE Asset (IIFL). The round also saw participation from Kae Capital, KOIS, and Dallas Venture Capital.

The funds will play a crucial role in driving Disprz’s product development, as well as expanding its footprint in Southeast Asia, India, and the Middle East, while breaking into the US market.

GLP Capital Partners establishes inaugural commingled clean energy strategy with USD 555.8 million in commitments

The global alternative asset manager has established its first commingled clean energy strategy in China, raising around RMB 4 billion (USD 555.8 million) in total capital commitments from Chinese institutions including the National Green Development Fund and feeder funds affiliated with CHN Energy Investment Group, one of China’s largest electricity providers and a state-owned enterprise in the energy sector.

The capital raised will provide dry powder for renewable energy investments in the areas of wind, solar, and energy storage infrastructure, as well as related energy management solutions, and the fund will target both greenfield projects and acquisitions in these sectors.

DotBio secures USD 5.6 million in pre-Series A round

The Singapore-based biopharmaceutical company supported by SEEDS Capital, has secured USD 5.6 million in a pre-series A funding round led by Chinese venture capital firms Proxima Ventures and Gaorong Capital, with participation from life sciences investor Chaperone Investment, animal immunotherapy startup Protect Biotech, and AIM-HI Accelerator Fund, a US-based non-profit organization dedicated to accelerating cancer drug discovery through its investments in oncology companies.

DotBio intends to use the funds to conduct preclinical studies on antibody therapies in the domains of animal efficacy, chemical processes, manufacturing, and controls. The company also plans to enhance and automate its proprietary modular DotBody platform. —The Business Times

South Korean tech giants lead USD 100 million investment in artificial intelligence chip startup

AI hardware startup Tenstorrent has announced that it raised USD 100 million in a convertible note funding round co-led by Hyundai Motor Group and Samsung Catalyst Fund, the venture capital fund of Samsung Electronics.

Half of the total investment came from Hyundai’s two car-making units, Hyundai Motor and Kia, which invested USD 30 and 20 million respectively. Both units plan to partner with Tenstorrent to develop chips for future mobility vehicles and robots. Samsung Catalyst Fund and other investors including Fidelity Ventures, Eclipse Ventures, Epiq Capital, and Maverick Capital, contributed the other half of the total investment. —TechCrunch

Oladance, BintanGo, and Allozymes led yesterday’s headlines:

  • Oladance, a wearable audio products company, raised an eight-figure RMB sum in an angel round of financing led by BlueRun Ventures and Black Ant Capital, with Beeplus Capital also participating. The funds will be used for technology and new product R&D, supply chain enhancements, consumer services, and brand-building activities.
  • Jakarta-based startup BintanGo, secured USD 2.2 million in debt and equity funding from Contents Technologies, Transcend Capital Partners, Investible, and eWTP Tech Innovation Fund. The funding follows a previous seed round and will support the startup’s growth.
  • Allozymes, a Singapore-headquartered biotechnology startup, secured Series A funding from investors including Xora Innovation and Seventure Partners. The funding will advance Allozymes’ efforts in sustainable manufacturing.

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