FB Pixel no scriptDeals in brief: EDBI invests in AlphaSense, Blue Earth Capital secures USD 378 million for climate impact strategy, multiple China and India deals, and more | KrASIA

Deals in brief: EDBI invests in AlphaSense, Blue Earth Capital secures USD 378 million for climate impact strategy, multiple China and India deals, and more

Written by KrASIA Writers Published on   6 mins read

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

Singapore’s EDBI invests in AlphaSense’s Series E round

AlphaSense, a market intelligence and search platform, has secured an undisclosed amount of strategic funding from Singapore-based investor EDBI.

This investment is part of AlphaSense’s USD 150 million Series E funding round announced in September last year, which was led by BOND with the support of existing investors including CapitalG (Alphabet), Viking Global Investors, and Goldman Sachs Asset Management.

“AlphaSense’s artificial intelligence-based market intelligence and search platform has the potential to provide our local financial services industry and enterprises with the necessary tools, content, and insights to make better data-driven decisions,” said Charmaine Kng, partner at EDBI.

Blue Earth Capital secures USD 378 million in commitments toward climate impact strategy

Impact investment firm Blue Earth Capital has secured USD 378 million in investor commitments for its private equity climate impact strategy, the ‘BlueEarth Climate Strategy.’ This includes USD 308 million from the BlueEarth Climate Growth Fund and an additional USD 70 million in commitments from limited partners (LPs).

The strategy is designed to target growth-stage companies addressing the impacts of climate change, providing essential funding to facilitate their scaling and operational development. Blue Earth Capital will leverage its global network and impact framework to offer climate and investment expertise to the selected companies.

Aramco allocates USD 4 billion to global venture capital arm

Saudi Arabian state-owned energy and chemicals company Aramco has announced its allocation of an additional USD 4 billion to Aramco Ventures, its global venture capital arm.

This will more than double the capital it has allotted to Aramco Ventures, increasing its total investment allocation from USD 3 billion to USD 7.5 billion.

“Innovation is key to addressing some of the fundamental challenges facing the world today, including the energy transition. Through Aramco Ventures, we aim to support pioneers with big ambitions, and ultimately help bring their ideas to life. By injecting an additional USD 4 billion in funding over the next four years, we intend to […] provide crucial impetus to businesses at various stages of development around the world, while also contributing to Aramco’s own long-term objectives,” said Ahmad Al Khowaiter, executive vice president of technology and innovation at Aramco.

Techna-X acquires 51% stake in Netsec to form joint venture

Techna-X, an investment holding company based in Malaysia, is set to acquire a 51% stake in Netsec, an IT firm, to establish a joint venture. The aim is to leverage their combined expertise and target growth opportunities in Southeast Asia’s cybersecurity space.

Specifically, both companies will work together to set new standards in cybersecurity and AI integration, advance cybersecurity solutions developed in Malaysia, and strengthen the country’s position in this field. The joint venture’s long-term objectives also include nurturing a skilled workforce and further developing AI-based cybersecurity solutions. —The Star

Recent deals completed in China:

  • Zhongshang Technology (Entropy), a Beijing-registered technology company specializing in new energy and materials, has raised an eight-figure RMB sum in pre-Series A+ funding from the China Association for Science and Technology and Jiangling Investment Development Group. 36Kr
  • Linghao Network Technology, a Hangzhou-registered art collection and trading platform, has secured an eight-figure RMB sum in a pre-Series A funding round led by Doshan Capital. Hcsoo.cn, Yonghe Capital, and other institutional investors also participated in this round. 36Kr
  • UniXDE, a developer of simulation-based optimization technology for various industries, has completed its Series A funding round, securing an eight-figure RMB sum from Ningbo Electronics Information Holdings, Caozhixing Venture Capital, and other undisclosed institutional investors. The funds will be used for technology R&D, product iteration, and to support the company’s operations. 36Kr
  • Yuanda Traditional Chinese Medicine, a Chinese medical chain, has raised RMB 10 million (USD 1.4 million) in pre-Series A funding from Tianze Qisheng. The company will utilize the funds for brand development and market expansion. 36Kr
  • Orcauboat, a Xi’an-headquartered technology company focused on developing unmanned boats and surface vehicles, has banked at least RMB 100 million (USD 14 million) following the completion of its Series B funding round. This round saw participation from the AEF Greater Bay Area Fund, Skyview Fund, and Xi’an Finance Investment Management, among other investors. 36Kr

Latest funding deals in India:

  • Fetcch, a provider of Web3 payments and rewards infrastructure, has raised USD 1.5 million in a pre-seed funding round jointly led by AppWorks Venture and HashKey Capital. The round also saw participation from LD Capital, Compute Ventures, M6, GravityX Capital, and NGC. Fetcch will utilize the capital to develop products and support its expansion in the Web3 space.
  • Jeh Aerospace, a Hyderabad-based aerospace manufacturing company, has raised USD 2.75 million in a seed funding round led by General Catalyst. The round also saw participation from Pratyush Kumar, Dwarakanath Srinivasan, and other investors. —Inc42
  • International Battery Company (IBC), a manufacturer of rechargeable lithium-ion batteries, has raised USD 35 million in a pre-Series A funding round led by RTP Global. Beenext, Veda VC, and various investors from South Korea and the US also took part in this round. This marks IBC’s inaugural round of financing. —VCCircle
  • Upswing Financial Technologies, an open finance company, has bagged USD 4.2 million in a pre-Series A funding round led by Quona Capital with the support of QED Investors. It will utilize the capital to develop products and expand its offerings. —VCCircle
  • Medial, a social media application in beta phase, has raised around USD 120,000 in a pre-seed funding round led by First Cheque with the support of angel investors including Nayan Jadeja, Rohitashwa Choudhary, Ankit Aggarwal, and Radhakrishnan Ramachandran. Medial will use the funds for product development, user acquisition, and testing of core application features. —VCCircle
  • The Renal Project, a Mumbai-based outfit focused on improving the accessibility and delivery of dialysis therapy, has raised an undisclosed amount in a pre-seed funding round led by the JITO Angel Network (JAN), an early-stage angel investment network facilitated by the JITO Incubation and Innovation Foundation (JIIF). The round also saw participation from 100X.VC, Gopi Latpate, and Thapar Vision, among other investors. The funds will be utilized to enhance the organization’s technology stack and to implement projects. —VCCircle
  • ZestMoney, a buy now, pay later platform, has been acquired by DMI Group following its formal shutdown in December last year, when it laid off its entire workforce. The acquirer will own the exclusive right to all Zest brands as part of this deal, and DMI Finance, the non-banking financial company (NBFC) of DMI, will become a preferred lender on the Zest platform. —Entrackr
  • Nazara Technologies, a gaming and esports company, has raised INR 2.5 billion (USD 30 million) from Kamath Associates, NKSquared, ICICI Securities, Piutus Wealth Management, and other investors. This marks the third tranche of the INR 7.5 billion (USD 90.2 million) funding announced by Nazara in July last year. —Entrackr
  • StockGro, a “social trading” platform, has raised INR 2.05 billion (USD 24.6 million) in a debt funding round from Trifecta Ventures and Hindustan Media Ventures in two separate tranches. StockGro will use the funds to grow and expand its business and to meet additional capital requirements. —Entrackr

Meals In Minutes, Meiro, Prota Therapeutics, and more led yesterday’s headlines:

  • Meals In Minutes, a Malaysia-based startup exploring an advanced meal kit concept, secured USD 1.5 million in a seed funding round led by 500 Global with the support of an unnamed private investor.
  • Meiro, a Singapore-headquartered customer data platform, raised USD 3 million in an oversubscribed pre-Series A funding round led by Wavemaker Partners. The round also saw participation from angel investors at Angel Central.
  • Sprim Global Investments (SGI), a Singapore-based private investment company, led a USD 21 million investment in Prota Therapeutics, an Australian biotechnology company focused on the development of novel oral immunotherapy treatments that induce remission of allergies. The investment comprised a mix of debt and equity financing.

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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