Investible fuels DeCarice’s hydrogen push with financial backing
Venture capital firm Investible has thrown its weight behind DeCarice, an Australian startup that’s rewriting the rules for heavy-duty engines. Investible’s Climate Tech Fund, which has become one of the region’s most active in just under three years, provided the capital.
DeCarice’s hydrogen injection technology is said to be capable of swapping out up to 90% of diesel fuel, slashing carbon emissions by as much as 85% without losing a shred of power.
“The ability to retrofit existing diesel engines with DeCarice’s hydrogen injection technology provides a scalable, near-term solution for reducing emissions in sectors where the electrification of big and heavy things is extremely challenging,” said Ben Lindsay, investment manager at Investible.
For DeCarice, the investment opens the throttle on global commercialization, bringing a viable alternative to industries that have struggled to decarbonize. “This investment will enable us to accelerate our commercialization efforts and bring our solution to market,” said Goran Bozic, CEO of DeCarice.
Komerce merges with RajaOngkir to supercharge Indonesia’s shipping solutions
Komerce, an Indonesian e-commerce enabler, has merged with RajaOngkir in a share swap deal, according to a report by e27. This move is set to reshape the landscape for shipping solutions in Indonesia.
RajaOngkir, a real-time shipping cost calculator with over five million downloads, will now strengthen Komerce’s offerings, particularly its Komship service.
The acquisition is expected to significantly boost Komerce’s API integration capabilities, streamlining shipment management for large enterprises and making the process more efficient.
Australia kickstarts Industry Growth Program with first round of grants
Australia’s AUD 392 million Industry Growth Program (IGP) is off to a running start, with the first wave of grants supporting a diverse mix of small and medium enterprises across Australia.
Funding from the IGP targets projects ranging from next-generation batteries to agritech, all designed to scale early-stage innovations and strengthen domestic supply chains.
Cauldron Molecules led the pack with AUD 4.3 million (USD 2.8 million) to roll out fully automated hyper fermentation tech, while Li-S Energy took home AUD 1.7 million (USD 1.1 million) to drive its lithium foil battery production.
Electrogenics Laboratories and Brandsec secured AUD 1 million (USD 661,945) and AUD 231,000 (USD 152,909), respectively, to advance patient radiation safety and fight online phishing.
Meanwhile, Forager Automation is set to transform blueberry farming operations with its robotic picking device, courtesy of a AUD 157,943 (USD 104,549) grant.
Amilo strengthens foothold with acquisition of Thailand’s Sivadon Logistics
Amilo, a Singapore-based logistics player with a focus on Southeast Asia, has acquired Sivadon Logistics, a logistics operator in Thailand. This acquisition is a significant leap in Amilo’s growth strategy, bolstering its operational firepower in one of Asia’s most competitive markets.
Sivadon Logistics brings a vast nationwide network into the fold, enhancing Amilo’s ability to help international brands break into Thailand while empowering local SMEs to scale globally via Amilo’s cross-border delivery services. “Thailand is pivotal for us as we support our customers expanding within one of Asia’s most dynamic regions,” said Arun Mambully, CEO of Amilo. “The acquisition of Sivadon Logistics provides us with an extensive network and a stellar team.”
This move aligns with Amilo’s broader mission to unify Southeast Asia into a single, seamless market by building a robust, operations-first logistics platform. With a presence already established in Singapore, Malaysia, Vietnam, and now Thailand, Amilo offers a full spectrum of services, from warehousing and local delivery to facilitating international expansion through its cross-border network.
In the coming months, Amilo plans to launch its cross-border services in Thailand, building on a platform first introduced in 2022 in partnership with Belgium Post’s Landmark Group. This acquisition marks Amilo’s third in just two years, underscoring its aggressive strategy to modernize and innovate the logistics landscape across the region.
DCS Innov snaps up HolyWally to scale globally
DCS Innov, freshly spun off from DCS Fintech Holdings, is making moves with the acquisition of HolyWally, a specialist in “wallet-as-a-service” (WaaS) solutions. Touted as a pivotal move in DCS Innov’s global expansion, the deal sets the stage for a worldwide rollout of its InstaWally app.
InstaWally bundles payment services—cards, virtual bank accounts, and Web3 payments—into a seamless, “plug-and-play” solution for companies looking to streamline their payment operations.
iCool raises USD 4.5 million to power personalized consumer experiences in South Korea
iCool, a consumer technology company based in Singapore, has closed a USD 4.5 million angel investment round, led by GreaterHeat with backing from BishopGate.
The fresh funds will drive the launch of iCool’s AI-powered platform in South Korea, where it promises to equip consumers with the ability to develop personalized merchandise. Specific details about the platform were not disclosed.
Recent deals completed in China:
- CorrectSequence Therapeutics, a clinical-stage biotechnology company, has clinched over RMB 100 million (USD 13.9 million) in its Series A+ funding round, with Fortera Capital leading the charge. Heavy hitters like New Alliance Capital, Boyu Capital, Lilly Asia Ventures, Zoo Capital, and HongShan also joined the round. The funds are earmarked for pushing its CS-101 therapy through clinical trials and scaling its pipeline of precision therapies. —36Kr
- Sconry Biopharma, a synthetic biology company hailing from Shanghai, has wrapped up its pre-Series A funding round to fuel its R&D. —36Kr
- Maitao, a family activity and travel booking platform, has secured tens of millions of RMB in its Series C funding round, backed by Tongcheng Travel. —36Kr
- Mayliu Biotech, a rising player in bioactive substances and health products, has attracted an undisclosed amount of investment from the Shenzhen Institute of Advanced Technology (SIAT). The fresh capital will be used to drive innovation in recombinant collagen and synthetic biology materials, particularly in the burgeoning medical beauty market. —36Kr
- Acoree, a Shanghai-registered company specializing in high-end Coriolis mass flow meters, has locked in tens of millions of RMB in pre-Series A funding from Cloud Capital. The capital injection will help boost production, ramp up R&D, and expand the company’s team. —36Kr
- Avolution.ai, an artificial intelligence startup, has secured angel funding from BlueRun Ventures and Redpoint China Ventures. The financial details were not disclosed. The company, launched last September, is channeling the funds into tech development, product enhancement, and team expansion as it builds a platform for AI-driven video content. —36Kr
- DareRobot, a Shenzhen-headquartered robotics firm targeting heavy industry, has grabbed tens of millions of RMB in pre-Series A funding. The round was led by Oriza Hua and backed by TopoScend Capital. DareRobot will utilize the funds to drive product development and market expansion. —36Kr
- Solid, a firm carving out a niche in silicon-based anode materials and solid-state electrolytes for lithium batteries, has pulled in a nine-figure RMB sum in its Series A funding round. The round was co-led by Three Gorges Capital Holdings and Xingxiang Investment Holding Group, with TopoScend Capital and China Capital Management also participating. The funds will fuel Solid’s R&D, production line upgrades, and working capital needs. —36Kr
Syfe, Pintar, Kazam, and more led yesterday’s headlines:
- Syfe, an Asia-focused savings and investment platform, secured USD 27 million in its latest equity funding round. The round saw participation from both new and existing investors, including two UK family offices with interests in fintech and banking, alongside Valar Ventures and Unbound.
- Pintar, an Indonesian edtech startup, acquired three local companies including social edtech firm Gredu, workforce marketplace Kerja.io, and migrant worker recruitment platform Hiringmaps. The financial details were not disclosed.
- Kazam, an Indian electric mobility company, secured USD 8 million in its Series A3 funding round, led by Vertex Ventures Southeast Asia and India, with participation from Avaana Capital, Alteria Capital, and other investors.
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