Whatfix raises USD 125 million in Series E funding
Indian software company Whatfix has raised USD 125 million in a Series E funding round led by Warburg Pincus, with participation from SoftBank Vision Fund 2. The investment will reinforce Whatfix’s position as a leading digital adoption platform, helping enterprises navigate the complexities of digital transformation by enhancing user adoption of technology.
Whatfix plans to use the fresh capital to expand its product suite, explore acquisitions, and strengthen its presence in the US, EMEA, and Asia Pacific markets. The company’s next step also involves integrating generative artificial intelligence across its platform to further personalize user experiences and drive efficiency.
Supabase bags USD 80 million to expand open-source database platform
Supabase, an open-source backend-as-a-service company, has bagged USD 80 million in a Series C round co-led by Peak XV and Craft Ventures, bringing its total funding to USD 196 million. Avra Capital and existing investors, including Coatue Management, Felicis, and Y Combinator, also participated.
Since its launch in 2020, Supabase has gained significant traction by catering to the growing demand for open-source alternatives to proprietary backend solutions. The company aims to position itself as the go-to open-source alternative to Firebase, offering developers greater control and flexibility in building and managing applications.
Sleek secures USD 5 million in debt financing
Sleek, a provider of back office services for small and medium enterprises, has secured USD 5 million in debt financing from the Fintech Nation Fund. The milestone follows Sleek’s recent achievement of profitability in Singapore during the second quarter of 2024.
The funding will fuel Sleek’s growth in key markets such as Singapore, Hong Kong, Australia, and the UK, where the company is said to serve over 15,000 businesses.
Mediwhale raises USD 12 million to advance AI-driven cardiovascular diagnostics
Mediwhale, a South Korean AI diagnostics company, has raised USD 12 million in a Series A2 round led by Korea Development Bank (KDB), alongside Woori Venture Partners, IMM Investment, and Mirae Asset Securities.
Mediwhale’s main product, Reti-CVD, uses AI to predict cardiovascular disease risk through retina scans, offering a non-invasive alternative to traditional methods. The company said it has already completed over 7,200 cases across 57 medical institutions in Korea.
This new investment will help Mediwhale accelerate its tech development, pursue US FDA approval, and expand its global footprint. The funds will also support the development of new products focused on predicting other diseases, such as chronic kidney conditions.
Recent deals completed in China:
- Corxel (Jixing Pharmaceuticals), a drug developer headquartered in the US and China, has raised USD 2.75 million in its Series D+ funding round. The funding came from the Hong Kong subsidiary of Apeloa Pharmaceutical. Corxel plans to use the capital to acquire 815,900 shares of its Series D preferred stock, representing a 0.58% stake post-investment. Founded in 2019, Corxel focuses on breakthrough therapies for serious illnesses. Its flagship project is CK-274, an oral myosin inhibitor licensed from Cytokinetics, targeting hypertrophic cardiomyopathy, a condition affecting the heart muscle. —36Kr
- RobotGym, a Shanghai-based startup in the rehabilitation and fitness robotics space, has secured tens of millions of RMB in angel funding. The investment was led by Innoangel Fund, with participation from Shuimu Tsinghua Alumni Seed Fund, Lingyi Capital, Hainan Lingdianyi Technology, and individual investors. Founded in 2022, RobotGym will use the funds to develop modular, cost-effective rehabilitation robots. —36Kr
- GigaAI, a spatial intelligence company, has bagged close to RMB 50 million (USD 7 million) across two angel funding rounds. BAIC Capital, MiraclePlus, People’s Capital, Longding Capital, Tsingzhi Capital, and PKSHA Algorithm Fund were among the investors. The capital will be directed toward developing large models for spatial intelligence and expanding market reach. Established in 2023, GigaAI is pushing the boundaries of artificial intelligence with 4D spatial reasoning, aiming to enable interaction and decision-making within a fully realized 4D space. —36Kr
Miniso, Blackpanda, Masdar, and more led yesterday’s headlines:
- Miniso, China’s leading retailer of budget lifestyle items, is acquiring 29.4% of supermarket chain Yonghui Superstores for RMB 6.27 billion (USD 877.8 million). The transaction will make Miniso the largest shareholder of Yonghui, which operates around 850 supermarkets across China.
- Blackpanda, an Asian cyber emergency response firm, secured USD 6.7 million in strategic funding from Singtel Innov8, Gaw Capital Partners, and WI Harper Group, bringing its total Series A funds raised to USD 21.7 million.
- Masdar, the clean energy powerhouse of Abu Dhabi, is set to acquire Saeta Yield, an operator of wind and solar assets in Spain and Portugal, from Brookfield Renewable for USD 1.4 billion. Brookfield will retain a portion of concentrated solar power assets.
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