Kodifly secures USD 750,000 to enhance urban mobility
Kodifly, a provider of infrastructure solutions for the mobility and transportation sector, has announced a USD 750,000 investment from Laidlaw Scholars Ventures.
This funding will support Kodifly’s productization of its solutions, which utilize machine learning to create digital twins of environments using light detection and ranging (LiDAR) and real-time video analytics within urban settings.
Founded in 2021 by Henry Wong and Muhammad Saad Shahid Anwel, Kodifly leverages proprietary artificial intelligence models to improve urban mobility and infrastructure resilience. The company plans to expand its reach into airport and highway management scenarios, with existing contracts secured in Hong Kong and a sales pipeline including Southeast Asia, the UK, and the US.
LongRiver Investments closes inaugural VC fund
LongRiver Investments, a venture capital firm specializing in the healthcare and technology sectors, has announced the closure of its first venture capital fund, raising USD 50 million. The fund attracted a diverse group of institutional investors, comprising both global insurance companies and leading asset management firms.
With the closing of this fund, the firm is well-positioned to identify and support startups poised for scalability and industry impact, targeting opportunities not only in Greater China but also across North America, Europe, and the rest of Asia, covering areas such as frontier technologies and new materials.
Nami Distributed Energy receives USD 10 million from Clime Capital
Nami Distributed Energy, a clean energy company based in Ho Chi Minh City and Hanoi, has received a USD 10 million investment from Clime Capital’s Southeast Asia Clean Energy Fund II (SEACEF II).
The company, a subsidiary of Nami Energy, was founded by Vietnamese investors with extensive experience in the domestic energy sector. The new capital will be used to support its growth, targeting the delivery of effective rooftop solar and other on-site energy solutions at scale to commercial and industrial customers across Vietnam.
Temasek-backed 65 Equity Partners invests SGD 100 million in Hi-P International
Hi-P International, a Singapore-headquartered advanced manufacturing company, has secured a SGD 100 million (USD 74 million) capital injection from 65 Equity Partners. This investment comes through the Local Enterprise Fund, a joint SGD 1 billion (USD 740 million) fund led by the Ministry of Trade and Industry (MTI) on behalf of the Singapore government.
Hi-P will collaborate with 65 Equity Partners to develop a new strategic focus and leadership succession plan for growth acceleration and sustainability. The investment will also be used to enhance the company’s board of directors and prepare for a potential IPO.
Since its privatization and delisting from the Singapore Exchange (SGX) in 2021, Hi-P has expanded its manufacturing footprint in the Philippines, Malaysia, Vietnam, and India, and is projected to exceed SGD 2 billion (USD 1.4 billion) in revenue by 2024.
Fugu Carbon secures seed funding in Investible-led round
Fugu Carbon, an early-stage carbon dioxide removal (CDR) technology company, has raised an undisclosed amount in a seed funding round led by Investible’s Climate Tech Fund. The round saw participation from Counteract VC, Jelix Ventures, and Electrifi Ventures.
Fugu Carbon is developing scalable direct air capture (S-DAC) technology using readily available components and innovative filter designs. The company aims to remove a gigaton of carbon dioxide equivalents per year and will use the funds to further develop and deploy its technology.
The Gentle Group, DealCart, Volant, and more led yesterday’s headlines:
- The Gentle Group, a Singapore-based social enterprise founded in 2017, raised SGD 2 million (USD 1.4 million) from the Asia Impact First Fund (AIFF) and SEEDS Capital, the investment arm of Enterprise Singapore.
- DealCart, a Pakistan-based social commerce startup, raised USD 3 million in a seed funding round jointly led by Shorooq Partners and Sturgeon Capital. The round also included participation from 500 Global, Evolution VC, Rayn Capital, and Khyber Venture Partners.
- Volant Aerotech, a Shanghai-based developer of electric vertical take-off and landing (eVTOL) passenger aircraft, secured RMB 100 million (USD 13.7 million) in a Series A+++ funding round from Legend Capital Management.
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