FB Pixel no scriptDeals in brief: Game Theory, Skykraft, and Factorem raise fresh capital, DCG acquires Lamudi assets, multiple China and India deals, and more | KrASIA

Deals in brief: Game Theory, Skykraft, and Factorem raise fresh capital, DCG acquires Lamudi assets, multiple China and India deals, and more

Written by Gideon Ng Published on   4 mins read

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

Game Theory secures pre-Series A funding to transform how sports are experienced

The Bengaluru-based sports tech startup has announced the completion of its pre-Series A funding round, securing USD 2 million from various investors including Rainmatter, Rohan Bopanna, WEH Ventures, Prequate Advisory, and several angel investors.

Game Theory will use the funds to further develop its array of solutions, encompassing skill-based matchmaking features, coaching products, and intelligent sporting facilities.

Skykraft raises AUD 120 million to build space technology for aviation

The Australian space services company has completed the first close of its second funding round, securing AUD 120 million (USD 76.5 million) in investment to support the rollout of its space-based air traffic management technology.

Investors that participated in the round include Main Sequence Ventures, Foresight Australia, and OPTrust.

Skykraft had previously raised AUD 3.5 million (USD 2.2 million) from investors including Allan Moss (formerly from Macquarie Group), Lennoxgrove Capital, and Adcock Private Equity. —Australian Financial Review

SEEDS Capital leads Factorem’s seed funding round

Factorem, a Singapore-based digital platform facilitating the procurement of custom manufactured parts, has recently closed its seed funding round, raising an undisclosed amount. The round was led by SEEDS Capital, the investment arm of Enterprise Singapore, and Blue InCube Ventures, a venture builder with a focus on robotics.

The capital will be used to accelerate the platform’s development, aiming for faster lead times and more accurate quoting to expand its coverage. Additionally, Factorem plans to bolster its supply chain capacity and capabilities within Southeast Asian markets like Malaysia and Vietnam, while also working towards expanding its customer base. —e27

Digital Classifieds Group acquires Lamudi in Indonesia and the Philippines

The Australia-based operator of online property marketplaces has acquired the assets of Lamudi in Indonesia and the Philippines from the Dubizzle Group (formerly known as EMPG).

This deal follows Digital Classifieds Group’s acquisition of Bproperty, a Bangladeshi portal, in January 2023, and propels it to become Asia’s second-largest property marketplace operator. —TechNode Global

Recent deals completed in China:

  • TetraBot, a Nanjing-based industrial robotics company, has completed its Series C funding round, raising over RMB 100 million (USD 13.6 million). The round was led by funds managed respectively by GIIHG and Haier, and saw the participation of Zhibo Investment. TetraBot raised a similar amount in a Series B+ funding round completed earlier this year. It will use the freshly raised funds for R&D of its core product and technology, and expand its business and network of channel partners. 36Kr
  • Engrid, a Hangzhou-based thermal energy management company, has raised an eight-figure RMB sum in a Series B+ round led by China’s State Power Investment Corporation and Zhejiang Energy. It will use the funds for R&D, production, marketing, among other purposes. 36Kr
  • Sunwoda Electronic, a Shenzhen-based lithium-ion battery developer, has signed a listing guidance agreement with CITIC Securities, officializing its plan to spin off and list Sunwoda Energy, its energy storage business, on the Shenzhen Stock Exchange. Sunwoda Energy’s latest financing round valued the company at RMB 35.5 billion (USD 4.86 billion). 36Kr
  • Baichuan AI, a Beijing-based AI startup, has closed a Series A1 funding round, raising USD 300 million from various investors including Chinese tech giants Alibaba Group, Tencent, and Xiaomi. Baichuan AI was one of eight entities approved by Chinese authorities for their large language model products. 36Kr
  • Sito Biotechnology, a Shandong-based biopharmaceutical technology company, agreed to acquire a 60% stake in Chinese pharmaceutical firm Yingu Pharmacy for RMB 458.1 million (USD 62.7 million). —DealStreetAsia

Other deals recently completed in India:

  • Fingerprint, a device intelligence platform, has raised USD 33 million in Series C funding. Nexus Venture Partners was the lead investor while Uncorrelated Ventures participated in the round. The completion of this round brings the total funds raised by Fingerprint to USD 77 million. It will use the fresh funds to attract more enterprise customers and build new tools and capabilities.
  • Zetwerk, a Bengaluru-headquartered manufacturing e-commerce company, has raised USD 120 million in a Series F funding round led by Avenir Growth Capital. Other investors that participated in the round include Footpath Ventures, Greenoaks Capital, Steadview Capital, D1 Capital, and Lightspeed. Avenir Growth Capital invested USD 75.2 million through this round while Footpath Ventures contributed USD 23.5 million of the total investment. —Entrackr
  • Agnikul Cosmos, a Chennai-based space technology startup, has raised INR 2 billion (USD 26.7 million) in a Series B funding round, taking its total funds raised to a total of USD 40 million. The investors that participated in the round include Celesta Capital, Rocketship.vc, Artha Venture Fund, Artha Select Fund, Mayfield India, as well as existing investors Pi Ventures and Speciale Invest. The startup will use the funds to commercialize its technology and invest in key facilities such as mobile launchpads and test rigs. —Entrackr

VinFast, SEEDS Capital, Edge Tutor, and more led yesterday’s headlines:

  • VinFast, Vietnam’s leading automotive company, has announced its merger with VinES Energy Solutions, the energy arm of parent company Vingroup. This merger was facilitated by Pham Nhat Vuong, chairman of Vingroup, who donated 99.8% of the energy arm’s shares to VinFast.
  • SEEDS Capital, the investment arm of Enterprise Singapore, has announced the addition of Factorem, Genetic Design and Manufacturing, and Meracle to its portfolio.
  • Edge Tutor, a Singapore-based edtech startup, raised an undisclosed amount of investment in a seed funding round led by MV Partners and Seaborne Capital. Other investors that participated include Kaya Founders, Ideaspace, Orvel Ventures, Lorinet Foundation, as well as individual investors Jojo Malolos (PayMongo), Paul Rivera (Kalibrr), and Mark Kooijman (Foxmont).

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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