FB Pixel no scriptDeals in brief: Meals In Minutes, Meiro, and Prota Therapeutics secure funding, ABC Impact reaches first close of second fund, multiple China and India deals, and more | KrASIA

Deals in brief: Meals In Minutes, Meiro, and Prota Therapeutics secure funding, ABC Impact reaches first close of second fund, multiple China and India deals, and more

Written by KrASIA Writers Published on   7 mins read

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

Meals In Minutes secures USD 1.5 million in 500 Global-led round

Meals In Minutes, a Malaysia-based startup exploring an advanced meal kit concept, has secured USD 1.5 million in a seed funding round led by 500 Global with the support of an unnamed private investor.

Launched in 2020, Meals In Minutes offers vacuum-packed meals that consumers can easily prepare within 15 minutes. All meals offered by the startup are flash-frozen, individually portioned, and do not include genetically modified ingredients or artificial substances. The meals are HACCP- and Halal-certified and are currently available in Singapore across various online marketplaces, including Grabmart, Shopee, RedMart, Amazon Fresh, and FairPrice Finest.

The startup will utilize the newly raised capital for R&D with the aim of expanding its offerings. It will also allocate a portion of the funds toward marketing campaigns to broaden its reach in target markets, such as the UK.

Image of portioned, vacuum-packed meals offered by Meals In Minutes.
Image of portioned, vacuum-packed meals offered by Meals In Minutes. Image and header photo courtesy of Meals In Minutes.

Meiro raises USD 3 million in pre-Series A round

The Singapore-headquartered customer data platform has raised USD 3 million in an oversubscribed pre-Series A funding round led by Wavemaker Partners. The round also saw participation from angel investors at Angel Central. This is Meiro’s inaugural funding round.

According to Meiro’s statement, it will use the capital to double down on growth by expediting its product development, bolstering its team, and expanding its presence in Europe and Southeast Asia. In addition to its headquarters in Singapore, Meiro has offices in Central Europe. It is also planning to establish a branch in Dubai later this year as part of its expansion strategy.

“Meiro’s level of precision, scalability, and speed is crucial for businesses that manage large datasets and require quick adjustments to their marketing strategies. […] Moreover, we’re impressed by how the company has bootstrapped its way to winning contracts from major global enterprises like BCA, Chemist Warehouse, Societe Generale, Dr Max Group, and DER Touristik despite stiff competition from better-funded competitors,” said Paul Santos, managing partner at Wavemaker Partners.

Photo of Meiro’s co-founders. From left to right: Pavel Bulowski (CPO), Jana Marle-Zizkova (CEO), and Vojtech Kurka (CTO).
Photo of Meiro’s co-founders. From left to right: Pavel Bulowski (CPO), Jana Marle-Zizkova (CEO), and Vojtech Kurka (CTO). Photo courtesy of Meiro.

Sprim Global Investments leads USD 21 million investment in Prota Therapeutics

Sprim Global Investments (SGI), a Singapore-based private investment company, is leading a USD 21 million investment in Prota Therapeutics, an Australian biotechnology company focused on the development of novel oral immunotherapy treatments that induce remission of allergies. The investment comprised a mix of debt and equity financing.

According to SGI’s statement, the investment will be used for Prota’s chemistry, manufacturing, and controls (CMC) activities, expediting its progress toward an investigational new drug application (IND). The funds will also enable Prota to expand its executive management team and prepare for the third phase of clinical investigation of an oral therapy for peanut allergy.

Singapore’s ABC Impact completes first close of second fund

The Singapore-based private equity firm has announced the first closing of ABC Impact Fund II, its second impact-focused fund which was launched in August 2023.

The assets under management (AUM) of the second fund have exceeded USD 550 million, receiving support from new investors, including an unnamed Southeast Asian sovereign wealth fund. Existing partners Temasek Trust, Temasek, SeaTown Holdings, and Mapletree Investments have also backed the latest fund.

ABC Impact Fund II is expected to reach its final close later this year.

Notably, the latest fund is significantly larger than the firm’s inaugural USD 300 million fund, which is nearing full deployment after investing in 11 portfolio companies across various sectors. The first fund achieved a successful exit from Sunseap, a Singapore-based solar technology company, in 2022.

Photo of ABC Impact's team.
Photo of ABC Impact’s team. Photo source: ABC Impact.

Artisse AI secures up to USD 6.7 million in seed funding

Artisse AI, a company specializing in artificial intelligence-powered imaging technology, has announced the completion of its seed funding round.

Led by The London Fund, this deal will provide the generative AI company up to USD 6.7 million in total investment value. In addition, the lead investor will offer marketing support to Artisse’s photography AI application, which can be used to generate “hyper-realistic” and personalized photos.

“Artisse AI has truly set a new standard in the field. We are confident that Artisse AI’s cutting-edge AI applications will reshape the photography industry and are excited to be a part of their journey,” said Ashesh Shah, founder of The London Fund.

0xScope secures USD 5 million to enter next stage of development

The Web3 data analytics company has completed its pre-Series A funding round, securing USD 5 million. The round was led by HashKey Capital with the support of Redpoint China, OKX Ventures, GSR Markets, Amber Group, Antalpha, Main Quad Capital, as well as existing investors Mask Network, Hash Global, and Xin Family.

In a statement released by 0xScope on Cointelegraph, the completion of this round coincides with the launch of 0xScope V2, which marks the next stage of its development.

0xScope V2 will focus on supporting applications that integrate Web3 technology and AI, enhancing the latter’s comprehension of the former to address longstanding challenges in the Web3 domain, including high barriers to entry, poor user experience, and information noise.

Recent deals completed in China:

  • MisTechnology, a Shanghai-registered technology company specializing in microelectromechanical system (MEMS) chips, has secured RMB 28 million (USD 3.9 million) in a pre-Series A funding round led by Hua Capital. Other investors that contributed to this round include Leaguer Financial Holdings, Zimingxin Investment, and Xingang Electronics. Chipai Capital acted as the financial advisor for this round. The company will use the capital for R&D, team building, and production. 36Kr
  • Duckbill, a Shanghai-headquartered trucking, inspection, and logistics company, has raised an eight-figure USD sum of funding from existing investor Zip Capital, maintaining its record of securing new investment every year since its establishment in 2017. 36Kr
  • Yeloworld, a Shanghai-registered supply chain management company, has banked over RMB 100 million (USD 14 million) following the completion of its Series B+ funding round. The company did not disclose the names of the investors for this round. 36Kr
  • Bingte Technology, a Hangzhou-based developer of computing infrastructure, has secured an eight-figure RMB sum in a Series A funding round led by Horeal. The round also saw participation from other investors. Bingte will utilize the funds to enhance its technological capabilities and expedite product R&D. 36Kr
  • Snow Tech, a Beijing-based provider of digital security solutions, has bagged close to RMB 100 million in a pre-Series A funding round jointly led by Primavera Venture Partners and CDH Investments. Voyagers Partners was appointed as the exclusive financial advisor. Snow Tech will invest the newly raised capital in R&D, market expansion, and team building. 36Kr
  • AaltoSemi, a Nanjing-headquartered developer of integrated circuit substrates, has secured fresh funding from various investors including Riverhead Capital, GY Capital, Yuexiu Industrial Investment Fund, BYD, and existing shareholders. China Renaissance Securities served as the exclusive financial advisor for this deal. —DealStreetAsia

Latest funding deals in India:

  • Zingavita, a health and wellness brand, has secured INR 100 million (USD 1.2 million) in a pre-Series A funding round led by Anicut Capital. The round also drew the participation of other investors including Venkat Krishnan (BionPharma), Puru Gupta (True Elements), Vishesh Chandiok (Grant Thornton Bharat), and Nikhil Bhandarkar (Panthera Peak), among others. Zingavita will use the funds to support its marketing initiatives and enter the premium Ayurvedic supplement segment.
  • InPrime Finserv, a non-banking financial company (NBFC), has bagged USD 3 million in a Series A funding round led by Matrix Partners India, with participation from existing investors InfoEdge Ventures, Titan Capital, and Kettleborough VC. InPrime will utilize the funds to expand its geographical footprint and augment its teams in various departments. It will also allocate a portion of the capital to develop digital channels, credit scoring models, and diversify its loan portfolio. —VCCircle
  • Vgenomics, a Noida-headquartered biotechnology company, has raised an undisclosed amount of investment in a seed funding round led by Mumbai Angels and O2 Angel Network. The company plans to utilize the funds to advance the development of diagnostics solutions and expand its current operations. —VCCircle
  • Wow Momo (stylized as “Wow! Momo”), a fast food restaurant chain, has secured INR 4.1 billion (USD 49.3 million) in an extended Series D funding round led by Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. Oaks Asset Management participated in this round, contributing INR 600 million (USD 7.2 million) of the total sum. Oaks had already committed USD 15 million in September 2022 to kickstart the Series D fundraise. This deal also provided an exit to angel investors from the Indian Angel Network (IAN) and a partial exit to existing backer Lighthouse Funds. —VCCircle
  • Adya.ai, a Bengaluru-based digital commerce and technology solution provider, has raised INR 105 million (USD 1.26 million) in a pre-Series A funding round led by Uday Chatterjee, Romesh Sobti, Sri Prakash, and Hari Balasubramanian from the IAN. The round also saw participation from various investors, whose names were not disclosed. The company will use the capital to scale its technology stack, strengthen its market presence, and expedite the development of AI-powered products. —Entrackr

Alina Vision, Toki, HashKey Group, and more led yesterday’s headlines:

  • Alina Vision, an eye care business currently operating two hospitals in Vietnam, closed an equity investment round, securing funding from TVM Capital Healthcare and existing investors The Fred Hollows Foundation and Rohto Pharmaceutical.
  • Toki, a collectibles-focused social commerce platform, raised USD 1.8 million in a pre-seed funding round from Kaya Founders and Foxmont Capital Partners. Additional contributors to this round include Anthony Oundjian (BGC Philippines), Brian Cu (SariSuki), Ernest Cu (Globe), and Bigboy Cheng, among others.
  • HashKey Group, a digital asset financial services company, completed its Series A funding round, bagging close to USD 100 million at a pre-money valuation surpassing USD 1.2 billion. This round saw the participation of both new and existing investors, including prominent Web3 institutions and strategic partners of the company.

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