FB Pixel no scriptDeals in brief: Investree to secure Series D funding, JBIC partners with India’s NIIF for sustainability fund, Investible backs Renewable Metals, and more | KrASIA

Deals in brief: Investree to secure Series D funding, JBIC partners with India’s NIIF for sustainability fund, Investible backs Renewable Metals, and more

Written by Gideon Ng Published on   4 mins read

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

Investree to secure up to USD 230.8 million in Series D funding through joint venture in Doha

The Indonesian online lending platform is set to secure Series D funding of up to EUR 220 million (USD 230.8 million) through the establishment of a joint venture in Doha, bringing its total disclosed funding to almost USD 280 million.

Investree has set up a joint venture with JTA International Holding, which will lead the funding round with participation from existing investor SBI Holding. The new entity, named JTA Investree Doha Consultancy, will act as Investree’s hub in the Middle East, offering its digital lending services to small and medium enterprises in Qatar, the Middle East, and Central Asia.

According to Adrian Gunadi, co-founder and CEO of Investree, the funds will be used to expand the platform’s portfolio of products and services and explore collaborations with various partners to provide solutions catered toward SMEs.

Investree last raised USD 23.5 million in March 2020, in a Series C funding round led by MUFG Innovation Partners and BRI Ventures.

JBIC and India’s NIIF jointly launch USD 588 million sustainability fund

The Japan Bank for International Cooperation (JBIC) has signed an agreement for equity participation in India’s National Investment and Infrastructure Fund (NIIF). As part of the agreement, both entities will jointly launch the India-Japan Fund, a USD 588 million fund to invest in sustainability projects

The fund’s target size is INR 49 billion (USD 588 million), with the Indian government and JBIC to invest INR 24 billion (USD 288.36 billion) and INR 25 billion (USD 300.37 billion) respectively.

Investible announces lead investment in Renewable Metals

The early-stage venture capital firm has announced its lead investment in Australian lithium battery recycling company Renewable Metals.

The investment was made through its Climate Tech Fund, culminating in a USD 8 million seed funding round with participation from other investors including members of the Club Investible syndicate, Viriscent Ventures, and the Grantham Foundation for the Protection of the Environment.

Manulife partners with Kiva, committing USD 1 million to drive inclusive economic opportunities in Asia

Multinational insurance company Manulife and nonprofit microfinance company Kiva have announced a partnership to finance microentrepreneurs and underserved communities globally, focusing on Cambodia, Indonesia, the Philippines, and Vietnam. The former will commit USD 1 million in three phases over three years, enabling Kiva to provide microfinancing loans in these emerging markets in Asia and across the world.

This commitment will utilize capital from the Manulife Match Fund, using Kiva’s crowdfunding platform as a vehicle to distribute funds quickly to individuals and communities without access to traditional financial services. Loan repayments will return to the fund for redistribution.

Kita Agritech raises USD 3 million in seed funding to digitalize agriculture supply chains

The Philippine agritech startup has raised USD 3 million in an oversubscribed seed funding round led by Gentree Fund and Altara Ventures. It will use the funds to digitalize agriculture supply chains, eliminating expenses associated with traditional systems to bolster the profitability of farming operations while ensuring clients receive fresh, top-quality agricultural produce. —e27

Latest deals in India:

  • Bizongo, a Mumbai-based vendor digitization platform, has secured USD 50 million in a Series E funding round led by existing investor Schroder Adveg. The International Finance Corporation (IFC), Chiratae Ventures, B Capital, and British International Investment also participated in the round. Bizongo raised the funds at a valuation of USD 980 million. It has raised USD 260 million to date after securing USD 25 million from Liquidity Group in August last year and USD 110 million in a Tiger Global-led Series D round closed in December 2021. —The Economic Times
  • DPDzero, a Bengaluru-based fintech company, has raised USD 3.25 million in a seed funding round led by Blume Ventures and IndiaQuotient. The round also saw participation from angel investors Sunil Gulati, Nikhil Kumar, Kunai Shah (Cred), Ramanathan RV (Hyperface), Nishchay AG (Jar), among others. DPDzero will use the funds for product development, distribution, and talent acquisition. —VCCircle
  • FreightFox, a Pune-based industrial logistics startup, has secured USD 600,000 in a seed funding round led by Aeravti Ventures. The round also saw participation from undisclosed angel investors. FreightFox will use the funds for product development and market expansion. —VCCircle
  • Altitude, an Indian alternative investments platform, has secured USD 500,000 in a pre-seed funding round. The round saw participation from a host of angel investors including executives from Swiggy, Dineout, Yes Bank, Good Glamm Group, Robinhood, Wipro, among others. Altitude will use the funds to launch its flagship product Altitude Prism, and to acquire talent for its fund and risk management teams. —VCCircle

EdgeCortix, Rainforest, Roopya, and more led yesterday’s headlines:

  • EdgeCortix, a Tokyo-based AI fabless architecture company, has raised USD 20 million in a funding round led by SBI Investment and Global Hands-On VC (GHOVC). This round also included Renesas Electronics Corporation, Cycle Group, and Monozukuri Ventures.
  • Rainforest, an Asian e-commerce brand aggregator, has secured USD 21.5 million in a convertible note round from existing investors, including Canopy Tropics, Monk’s Hill Ventures, Insignia Venture Partners, and January Capital.
  • Roopya, an early-stage Indian lending analytics and infrastructure-as-a-service startup, has raised IDR 50.9 million (USD 610,000) in a pre-seed funding round led by 100X.VC. Other investors in this round include SAT Industries, Shavdia Ventures, KRS Jamwal (Tata Industries), Vishal Khare (Snyk), and others.

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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