FB Pixel no scriptDeals in brief: Karzo secures pre-Series A funding, Upstage raises USD 72 million, Sumday bags seed funding, and more | KrASIA

Deals in brief: Karzo secures pre-Series A funding, Upstage raises USD 72 million, Sumday bags seed funding, and more

Written by Marvin Goh Published on   4 mins read

Bringing you the latest updates on funding deals and activities in the Asia Pacific.

Karzo secures pre-Series A funding

Karzo, a Myanmar-based logistics startup serving primarily the Mekong region, has secured an undisclosed amount from a follow-up pre-Series A funding round jointly led by Orbit Startups, Cocoon Capital, and NP Consulting.

Alex Wicks, founder and CEO of Karzo, told Tech in Asia that the capital will enable the company to increase its market share in the Mekong region. This includes the development of the “KarzApp”, a mobile app for truckers to manage freight requests.

The funding comes as Karzo prepares for its Series A funding round, which it had previously planned for in 2021.

Upstage raises USD 72 million in Series B round

Upstage, a South Korea-based artificial intelligence startup, has raised USD 72 million in a Series B funding round. The round was jointly led by SK Networks, KT, Korea Development Bank, Shinhan Venture Investment, Hana Ventures, Mirae Asset Venture Investment, and IBK Securities. Existing investors SBVA, Primer Sazze, Company K Partners, and Premier Partners also participated in this round.

The financing will support Upstage’s expansion with a new office in San Jose, California as well as accelerate its development of purpose-trained large language models (LLMs).

Upstage has raised over USD 100 million to date, making it the most funded AI company in South Korea.

Sumday secures seed funding in Planeteer Capital-led round

According to a report by the Australian Financial Review, Sumday, a Tasmanian-based startup specializing in emissions accounting software, has bagged USD 5.3 million in a seed funding round led by Planeteer Capital, a New York-based venture capital firm that focuses on climate technology.

The round also saw support from Sumday’s existing investors, including BlackBird Ventures, Wedgetail, and Cameron Adams (Canva).

Nibertex secures funding to launch its PFAS-free membrane technology

Nibertex, a deeptech startup, has closed an oversubscribed funding round, according to e27. The investment was led by Foxmont Capital Partners and supported by a consortium of Southeast Asian families. The amount raised was undisclosed.

Based in Singapore and the Philippines, Nibertex said that it has developed a proprietary membrane that is highly breathable and waterproof. The membrane is notably free of per- and polyfluorinated substances (PFAS), demonstrating potential to promote sustainability in the textile industry.

The funding is expected to expedite the launch of this PFAS-free membrane technology.

ShareChat raises USD 49 million from existing investors

ShareChat, India’s largest homegrown social media company, has raised USD 49 million via convertible debentures from existing investors. The round was led by Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures, and HarbourVest, among others.

ShareChat said the funding will help develop its ad targeting technology and grow its consumer transaction business.

Recent deals completed in China:

  • Luban Daojia Technology, a platform for home furnishing, installation, and maintenance services, has secured a nine-figure RMB sum in a Series B funding round. The round was led by Sinovation Ventures and saw participation from existing shareholder BeFor Capital. The company will utilize the funds to enhance its product technology, scale its capacity, and double down on brand marketing. 36Kr
  • Chin Instrument (Chinst), a Hefei-based instrument supplier specializing in the production of mass spectrometers, has raised an eight-figure RMB sum in a Series A+ funding round. The investors include Feixi Industrial Investment Holding, Hefei Innovation Investment, and Shenzhen Junsheng Runshi Angel Investment Fund. The company will use the capital to construct its headquarters and production base, and to conduct R&D. 36Kr
  • Finogeeks, a developer of digital technology for enterprises, has completed a Series C funding round. The investment amount remains undisclosed, with Gaocheng Capital as the investor. 36Kr
  • DiSilicon, a Zhuhai-registered manufacturer of chips primarily for the field of wireless communications, has secured nearly RMB 100 million in a pre-Series A funding round from Wuhan OVC Venture Capital and Smart Capital China. DiSilicon will use the funding primarily for R&D and the expansion of its 5G wireless communication product lines. 36Kr
  • Intalight, a producer of ophthalmic diagnostic and treatment systems, has completed a Series D funding round, bagging over RMB 100 million. The round was led by HT Capital. With this funding, the company intends to invest in R&D, expand its product lines, and accelerate its overseas market expansion. 36Kr
  • ST Phi Therapeutics, a biotechnology company specializing in immunotherapy, has completed a Series A+ funding round, garnering close to RMB 100 million. The round was jointly led by Tailong VC and TigerYeah Capital, with additional participation from various investors. Lighthouse Capital served as the exclusive financial advisor. The company plans to utilize the funds for clinical research, registration applications, and team building. 36Kr
  • Hengtron Nanotech, a Yancheng-based supplier of lithium manganese iron phosphate (LMFP) for battery producers, has secured over RMB 100 million in a Series A funding round. GF Xinde Investment led the round, with participation from Huanghai Financial Holding Group, Skyworth’s corporate venture capital arm, an electric technology fund managed by Shanghai Electrical Apparatus Research Institute, and Zhengjing Capital. 36Kr

Staple, Aliena, Toyota, and more led yesterday’s headlines:

  • Staple, a Singapore-headquartered company specializing in AI-driven document processing solutions, secured USD 4 million in a pre-Series A funding round led by Wavemaker Partners.
  • Aliena, a Singapore-based space tech company, raised USD 5.6 million in a Series A funding round led by Wavemaker Partners, with participation from institutional investors like Seeds Capital, Cap Vista, Paspalis, and NTUitive.
  • Toyota Ventures, the early-stage venture capital arm of Toyota, established two USD 150 million funds to expand its investments in startups developing “disruptive technologies and business models at the forefront of innovation,” bringing its total assets under management to over USD 800 million.

If there are any news or updates you’d like us to feature, get in touch with us at: [email protected].


Auto loading next article...