FB Pixel no scriptDeals in brief: Lenovo signs USD 2 billion agreement with PIF’s Alat, HSBC leads Series A investment in Marketnode, eight China and India deals, and more | KrASIA

Deals in brief: Lenovo signs USD 2 billion agreement with PIF’s Alat, HSBC leads Series A investment in Marketnode, eight China and India deals, and more

Written by KrASIA Writers Published on   4 mins read

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

Lenovo signs USD 2 billion agreement with PIF subsidiary Alat

Lenovo has signed a strategic collaboration framework agreement and a bond subscription agreement with Alat, a subsidiary of Saudi Arabia’s Public Investment Fund. As part of this deal, Alat has proposed a USD 2 billion investment in zero coupon convertible bonds, providing Lenovo with financial flexibility to implement its expansion strategy.

To enhance its global presence and diversify its manufacturing footprint, Lenovo plans to establish a regional MEA headquarters in Riyadh, Saudi Arabia, as well as manufacturing facilities in the country.

This arrangement is expected to support both Saudi Arabia’s renewable energy goals and Lenovo’s net-zero target by 2050, aligning with the region’s growth momentum.

HSBC leads Series A investment in Marketnode

Marketnode, a Singapore-based digital market infrastructure company, has announced the first close of its Series A funding round. HSBC led the investment, alongside contributions from existing shareholder Temasek.

With this funding, Marketnode will focus on scaling its platforms to realize ambitions of developing a multi-asset ecosystem, starting in the Asia Pacific. Specifically, the company will seek collaborations in the financial services industry to scale infrastructure across key asset classes such as digital fixed income and structured products, participate in the upcoming launch of Fundnode, and roll out other tokenized asset offerings.

HSBC has been partnering with Marketnode since 2020, having co-developed a digital market infrastructure spanning credit, funds and structured products, alongside other initiatives such as Project Guardian, Fundnode, and more. John O’Neill, the global head of digital asset strategy at HSBC, will join Marketnode’s board as part of this deal.

Disrupt Technology Venture launches health tech fund

Disrupt Technology Venture, a venture builder and investor, has announced the launch of the Disrupt Health Impact Fund in collaboration with leading Thai business groups. The fund aims to provide Thailand’s healthcare sector access to deep tech solutions that will enhance the quality of healthcare services in the country.

Among its initial investment partners for the new fund include Digital Health Ventures (DHV), the innovation and venture arm of Samitivej Hospital Group, Thana Asset, Saha Pathana Inter-Holding (SPI), and Sripatum University (SPU).

Recent deals completed in China:

  • Heart Forever, a Tianjin-based provider of medical-grade sensors and blood pressure monitoring technology, has raised an eight-figure RMB sum in a Series A funding round. The round was led by Richen Capital and saw participation from existing investor FreesFund. The company will use the funds to upgrade its sensor technology and hemodynamic model algorithms, and mass produce its third generation of blood pressure monitoring products. 36Kr
  • Intelligent Analysis Service (IAS), a spectral analysis technology company, has secured over RMB 100 million in a new round of financing. This round was jointly led by Fortune Capital and Genesis Capital, with Xianting Fund participating. DAS Capital served as the sole financial advisor for this round. The company will utilize the capital for R&D and global market expansion. 36Kr
  • LightWheel AI, a synthetic data company, has bagged an eight-figure RMB sum in a pre-Series A funding round led by Matrix Partners China, with continued support from existing investors MiraclePlus and Cherish Capital. The company will use the proceeds to accelerate the R&D of synthetic data products, acquire new talent, and support the company’s overseas business and commercial expansion. 36Kr
  • Yunhight Microelectronics Technology, a Sichuan-registered data storage solutions provider, has completed a Series A round of financing, raising an undisclosed sum. The investors include Lingde Capital and Chengdu Venture Capital. 36Kr

Latest funding deals in India:

  • Sedemac Mechatronics, a deep tech enterprise specializing in control technology, has announced a USD 100 million funding round. The investment was jointly led by Xponentia Capital Partners, A91 Partners, and 360 One Asset. It led to the full exit of Nexus Venture Partners, TR Capital, and Montane Ventures, according to The Economic Times. The transaction will also result in an infusion of USD 9 million into the company at an equity valuation of USD 260 million.
  • Libas, a fast fashion brand, has raised INR 1.5 billion through IAF Series 5, a fund managed by ICICI Venture. This is the first external funding round for the company. —Entrackr
  • Wealthy, a Bengaluru-based fintech platform, has raised INR 450 million in a funding round led by Falcon Edge’s Alpha Wave Incubation Fund. This is the first round of investment for the company this year. Wealthy will use these proceeds for expansion and general working capital purposes. According to Entrackr, it appears to be an ongoing round, and the company may raise more capital.
  • Rebel Foods, a cloud kitchen brand, has raised INR 1.1 billion in debt financing from Alteria and InnoVen Capital. —Entrackr

Nvidia, Lhoopa, Merck, and more led yesterday’s headlines:

  • Nvidia has partnered with Tribe and Digital Industry Singapore (DISG) to launch the Ignition AI Accelerator in Singapore, which will involve an initial combined investment of USD 3 million and feature a four-month program to develop the foundational artificial intelligence capabilities of up to 15 startups.
  • Lhoopa, a Philippines-based prop tech startup, has reportedly made the first close of its Series B funding round, led by Wavemaker Partners, according to regulatory filings.
  • Merck, also known as MSD outside the US and Canada, has agreed to acquire EyeBio, a privately held ophthalmology-focused biotechnology company, through one of its subsidiaries.

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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