Duke-NUS Medical School launches Live Ventures
Singapore’s Duke-NUS Medical School has launched Live Ventures, a SGD 20 million (USD 14.8 million) incubation program to commercialize innovative academic research.
Focused on translating scientific breakthroughs into clinical applications, Live Ventures will provide Duke-NUS scientists with essential commercialization expertise and resources. The initiative begins with a pilot project targeting treatments for chronic inflammatory diseases.
The program will pair seasoned entrepreneurs-in-residence with awarded projects to offer mentorship and operational support. With an initial funding tranche of SGD 10 million (USD 7.4 million), Live Ventures will support up to 20 research projects over the next five years, aiding in the formation of spin-offs and strategic investments.
Zyp Technologies secures USD 1.5 million in pre-Series A round
Zyp Technologies, a provider of electric mobility solutions in Pakistan, has secured USD 1.5 million in a pre-Series A funding round led by Shorooq Partners, Zawya reported.
The funds will enable Zyp to launch its solutions in Lahore, Pakistan, including the creation of 60 battery swap stations and the deployment of 1,000 electric two-wheelers over the next 12 months.
This launch aligns with Pakistan’s policy on electric vehicles, aiming for EVs to make up 30% of all vehicles sold locally by 2030. Zyp was among the companies granted licenses for EV manufacturing by the Pakistani government in October 2023.
Singapore-headquartered Glance in talks to raise USD 250 million
Glance, a Singapore-headquartered consumer technology company and unconsolidated subsidiary of InMobi Group, is in advanced discussions to raise up to USD 250 million in a funding round led by Google, according to The Business Times.
The capital would help Glance expand its reach, particularly in India. Google, which already backs Glance, is looking to increase its investment in India, a rapidly growing market for mobile technology.
Glance specializes in delivering curated content on mobile device screensavers, and is said to boast over 300 million users globally.
Recent deals completed in China:
- Windrose Technology, a developer of electric heavy-duty trucks, will complete a USD 200 million pre-IPO funding round led by Belgium’s Federal Holding and Investment Company (SFPIM). Windrose’s previous investors include HSBC, Goodman Group, HITE Hedge, GSR Ventures, FountainVest, Yunqi Partners, Hefei Innovation Investment, Suzhou New District, and Rokin. The company started its US IPO preparations earlier this year. —36Kr
- Polycent, a provider of artificial intelligence-based power distribution products, has completed an angel funding round, raising an eight-figure RMB sum. The round was led by FreesFund. The funds will be used for R&D and market expansion. —36Kr
- Waffo, a payment platform, has raised over RMB 100 million (USD 13.7 million) from BAI Capital and Gaorong Ventures. The investment will support Waffo’s business expansion in Asia, South America, and Africa. —36Kr
- AmagicTech, a developer of battery management solutions, has completed a Series A+ funding round led by QF Capital, with participation from Sunwoda. —36Kr
Papaya, BluMaiden, Chitose Bio Evolution, and more led yesterday’s headlines:
- Papaya, a Thailand-based ordering and payments platform for restaurants, bars, and hotels, raised an undisclosed amount in an equity financing round led by Beenext, with participation from A2D Ventures.
- BluMaiden Biosciences, a Singapore-based company specializing in small molecule drug discovery, secured an undisclosed sum in a funding round led by Elev8.vc, with participation from Seeds Capital (Enterprise Singapore).
- Chitose Bio Evolution, a Singapore-based biotechnology firm, announced the issuance of new shares worth JPY 1 billion (USD 6.3 million) through a third-party allotment to Sumitomo Mitsui Banking Corporation (SMBC).
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