Happy5 acquires SugarOKR to expand into US market
Indonesia-based Happy5, a rising player in enterprise performance management, has announced the acquisition of Singapore-based SugarOKR for an undisclosed amount. The acquisition primes Happy5 to expand internationally, particularly targeting the US market.
SugarOKR, known for its software expertise in tracking objective and key results (OKRs), brings established operations and a strong customer base, including 20% in the US, which will help accelerate Happy5’s growth.
Happy5 plans to leverage SugarOKR’s OKR tools to complement its own employee performance management solutions, creating a comprehensive offering for businesses aiming to align workforce goals while maintaining employee well-being.
SugarOKR will continue to operate independently, with no immediate plans for integration, while Happy5 intends to use SugarOKR’s platform as a lead magnet for potential customers.
EDBI invests in Arta Finance
EDBI, the investment arm of the Singapore Economic Development Board (EDB), has made an undisclosed investment in Arta Finance, a digital wealth platform co-founded by former Google executives. The funds will be used to develop Arta’s artificial intelligence-driven fintech platform and support its expansion into Singapore and international markets.
Arta Finance, currently headquartered in the US and Singapore, provides access to private market investments and financial tools typically reserved for ultra-wealthy individuals. The company received a capital markets services license from the Monetary Authority of Singapore in July and plans to launch in the country by the end of the year.
Helicap partners with XenCapital to expand digital lending
XenCapital, the lending arm of Xendit, has secured a USD 50 million credit facility from fintech platform Helicap.
According to Helicap, the collaboration will enhance its mission of improving access to capital for underbanked businesses.
XenCapital has disbursed over USD 700 million in loans to merchants in Southeast Asia, and the partnership is expected to further boost financial inclusion across the Philippines and beyond.
Binance Labs invests in OpenEden to accelerate RWA tokenization
Binance Labs has made a strategic investment in OpenEden, marking its entry into the rapidly growing space of tokenized real-world assets (RWAs). OpenEden plans to use the funds to expand access to RWA-backed yields within the decentralized finance (DeFi) ecosystem, introducing new products and channel partnerships.
OpenEden’s flagship product, a tokenized US T-bill fund, is said to be gaining traction, fueling the company’s push to attract institutional investors and scale across blockchains like Ethereum and Arbitrum.
Infinit raises USD 6 million to simplify DeFi protocol development
Infinit, a DeFi infrastructure provider, has raised USD 6 million in a funding round co-led by Electric Capital, Mirana Ventures, and Hashed, with participation from other investors including Maelstrom Fund and Robot Ventures.
The funds will be used to advance Infinit’s modular DeFi infrastructure, which helps developers to build and scale DeFi protocols using customizable components.
Recent deals completed in China:
- Base Therapeutics, a biotechnology company based in Hong Kong, has bagged an eight-figure RMB sum in its Series A2 funding round. The round was led by AEF Greater Bay Area Fund, managed by Gobi Partners GBA. The fresh capital will bolster the R&D team, sharpen the company’s product pipeline, and expedite clinical trials—all aiming at commercialization. Founded in 2021, the company specializes in base editing and cell gene therapy, focusing on cancer and genetic disease treatments.
- Tomi Shuangdu Optoelectronics, a manufacturer of ultrathin and flexible glass panels, has raised over RMB 300 million (USD 42.2 million) in its Series A funding round led by Phoenix Tree Capital Group.
- Morror Art, a lyric speaker brand from Wuxi, has secured nearly RMB 100 million (USD 14.1 million) in a Series B funding round led by Haikong Tiancheng Fund, with 01VC joining the round. The funds will fuel R&D and international expansion. —36Kr
- MoleculeMind, an AI protein design platform, has raised a nine-figure RMB sum in its Series A funding round co-led by Chermai Investment Group and SCGC, with support from SenseCapital and EBI Investment. The funds will be used to enhance its technology and platform. —36Kr
- Robstride, a manufacturer of integrated motor modules, has completed its angel funding round, raising tens of millions of RMB from Innoangel Fund, Yiwei Venture Capital, and a fund run by robotics expert Wang Tianmiao. The capital will be directed toward developing new products and expanding its team. —36Kr
- Jihui Shenghuo, an integrator of online promotions, has completed its RMB 9.8 million (USD 1.4 million) Series A funding round. Backed by Guoheng Shiji and Dongfang Huayuan Investment, the company will use the funds for market expansion and technology development. —36Kr
- Youhang Technology, an ultrasonic chip developer, has raised tens of millions of RMB in its pre-Series A+ funding round, led by 3Peak. The new capital will help bring its automotive ultrasonic sensor chips through testing and into mass production. —36Kr
- Fullpeace, an AI startup specializing in digital human applications, has snagged nearly RMB 100 million in Series A financing. Bright Venture Capital and Huakun Capital jointly led the round. The funds will be channeled into tech and product development. —36Kr
- JHBio, a Chengdu-based company specializing in organoid and animal model technologies, has closed its latest funding round, with HXZZ Capital providing undisclosed backing. —36Kr
- Signal Easy, a tech firm specializing in high-speed connectors and optical modules, secured funding in a round led by Huaqin. The capital will be used for product development and market penetration. —36Kr
- Fujin Power Semiconductor, a semiconductor company, has raised RMB 50 million (USD 7 million) in its Series A funding round, led by Hubei Shengxian Equity Investment. Founded in 2021 the company focuses on power system modules and power semiconductor technology. The funds will be used primarily for R&D. —36Kr
Humble, Renewable Metals, Funding Societies, and more led the recent headlines:
- Humble Sustainability, an e-waste management startup headquartered in Manila, raised an undisclosed amount in a pre-Series A funding round. Gobi Partners led the round through its Gobi-Core Philippine Fund, with participation from ADB Ventures and the Philippine government’s National Development Company (NDC).
- Renewable Metals, an Australian battery recycling company, raised AUD 8.1 million (USD 5.2 million) in a seed extension round from Investible’s Climate Tech Fund and Club Investible syndicate.
- Funding Societies, a digital finance platform also known as Modalku in Indonesia, secured an investment from Maybank. The financial details of this deal were not disclosed.
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