FB Pixel no scriptDeals in brief: Mindverse and CNV secure funding, India-based investment firms hit milestones, 19 China and India deals, and more | KrASIA

Deals in brief: Mindverse and CNV secure funding, India-based investment firms hit milestones, 19 China and India deals, and more

Written by KrASIA Writers Published on   6 mins read

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

Singapore-based Mindverse raises USD 5 million in seed round

Mindverse, a Singapore-based artificial intelligence technology startup, has raised USD 5 million in a seed funding round led by Square Peg.

According to The Business Times, Mindverse will utilize the funds and support from Square Peg to advance R&D of its personalization-focused large model.

Founded in 2022, the startup’s flagship products include MindOS Studio, which can be used to develop AI-native websites with personalized chat features, and Mebot, a productivity tool that can learn and adapt to users’ thoughts and preferences.

Vietnam’s CNV secures USD 1 million from Wavemaker Partners

CNV, a Vietnamese cloud-based business and marketing solutions provider, has secured USD 1 million in a seed funding round from Wavemaker Partners.

Established in 2020, CNV provides a variety of digital transformation products and services tailored to micro, small, and medium enterprises in Vietnam. Its offerings primarily focus on optimizing customer data analytics and achieving sustainable growth through marketing, loyalty, and e-commerce activities. —The Business Times

India-based investment firms hit milestones

Three India-based investment firms, namely Cornerstone Ventures, Synapses, and Filter Capital, have each reached significant milestones regarding their funds, as announced in individual statements:

  • Cornerstone Ventures, headquartered in Mumbai, has launched its second investment vehicle, targeting a corpus of USD 200 million, including a greenshoe option. The fund will invest with ticket sizes ranging USD 5–15 million in B2B tech startups, including software platform and marketplace developers, as well as ventures in sectors such as financial services (including insurance), retail and e-commerce, consumer goods, supply chain, and healthcare, among others. —DealStreetAsia
  • Synapses, a venture capital fund founded by veteran investors Ruchira Shukla and Karthik Chandrasekar, has launched its inaugural investment vehicle with a target corpus of USD 125 million. This fund will invest in climate and health tech opportunities, aiming to fill the commercialization gap in STEM fields. —DealStreetAsia
  • Filter Capital, a growth-stage investment firm, has marked the final close of Filter Capital India Fund I, its maiden fund. The firm secured a total corpus of INR 8 billion (USD 96 million), 20% less than its initial target of INR 10 billion (USD 120 million). Sixty percent of the fund’s commitments were secured from domestic sources, with the remainder from international investors. Filter Capital invests primarily at the Series B and C stages, focusing on technology businesses across various domains. —VCCircle

Recent deals completed in China:

  • RisenLighten, a Beijing-based autonomous driving solutions provider, has secured an undisclosed amount in an extended angel round of financing, invested by WestSummit Capital. The company will utilize the funds for R&D. 36Kr
  • Zhao Qiang Tai Ci Technology, a Sichuan-registered technology enterprise specializing in the R&D of ferrofluids and titanium-based cermets, has completed its Series A funding round, raising an undisclosed sum from LongCapital and Reform Fund. 36Kr
  • Rayboch, a Chengdu-headquartered provider of optical display solutions, has announced the completion of its Series A+ round of financing. The investors include SCGC and LongCapital. Rayboch did not disclose the sum raised. 36Kr
  • Koala Uran, an AI technology developer, has completed its Series A+ funding round, raising an undisclosed amount from Oriental Fortune Capital and Orinno Capital. 36Kr
  • Moffett AI, a Silicon Valley-founded company providing cloud and terminal AI chip acceleration solutions, has completed two successive rounds of financing, raising an undisclosed nine-figure RMB sum. This includes a Series B round led by Ant Group with follow-up investment from Peakview Capital, and a Series A+ round led by a GP Capital-managed fintech fund in Shanghai. Huada Songhe Angel Fund, Stonehill Technology, existing shareholder The Jiangmen, and various financial institutions also took part in the latter round. Gaojie Capital reprised its role as the company’s financial advisor for both rounds of financing. 36Kr
  • SmartNuclide, a biopharmaceutical company based in Jiangsu, has secured close to RMB 100 million (USD 13.8 million) in a Series C+ funding round led by Oriza Holdings. Participating investors include YZ Capital, Jiansu Capital, Leader, and existing shareholder Realharmony Capital. 36Kr
  • JSAB Technologies, a Shenzhen-based power semiconductor components manufacturer, has snagged over RMB 200 million (USD 27.6 million) in Series C1 financing. The round was jointly led by Beijing Shunxi Fund and AVIC Capital. 36Kr
  • Hi-Dolphin Robot Technology, an AI technology company developing robot cafe and barista solutions under the Cofe+ brand, has secured an undisclosed amount in a Series A funding round from Yu Fangbiao and undisclosed investors. 36Kr
  • Linden Chassis Tech, a Shanghai-based company focused on the R&D and manufacturing of automotive shock absorbers, has secured RMB 30 million (USD 4.1 million) in a pre-Series A round of financing led by Blue Lake Capital. The round saw participation from Gaorong Ventures, Yiyuan Capital, and Jun Zhiyan. Linden Chassis Tech plans to utilize the funds to accelerate the mass production of its products. 36Kr
  • Newcosemi Technology, a Beijing-headquartered chip manufacturer, has banked a nine-figure RMB sum in a Series C funding round led by CMG-SDIC Capital, with participation from Beijing Electronic Control, Qixin Capital, and Qianyi Capital. 36Kr
  • Passion Intelligent Technology (PassionIOT), a Suzhou-based provider of line-side warehouse and closed-loop solutions for the manufacturing industry, has completed two rounds of strategic financing, banking over RMB 100 million. The investors include Anhui State-owned Capital Operation Holding Group and Innoval Capital. PassionIOT will allocate the funds toward technology R&D, talent acquisition, and market expansion. 36Kr
  • Medi Cover, a health tech platform under Sinopharm Group, has received over RMB 100 million in Series A funding. The round was led by Shanghai International Group Asset Management (SIGAM). Sinopharm-CICC Capital and Sichuan Innovation Development Investment Management also participated in the round. 36Kr

Latest funding deals in India:

  • Neysa, a provider of generative AI solutions, has raised USD 20 million in a funding round jointly led by Matrix Partners India, Nexus Venture Partners, and NTTVC. Neysa will use the funds to enhance its infrastructure and strengthen R&D initiatives.
  • Sprinto, a security and compliance automation startup, has raised USD 20 million in a Series B funding round led by Accel, with participation from Elevation Capital and Blume Ventures. Sprinto will use the funds for R&D and to expand into new markets.
  • iBus, a communications and digital infrastructure solutions provider, has secured USD 200 million from India’s National Investment and Infrastructure Fund (NIIF). The proceeds will be utilized for growth initiatives to scale its operations, and to develop new solutions. NIIF said it will hold a “significant” majority stake in iBus post the completion of the deal. —Inc42
  • Recykal, a waste management company, has secured INR 1.1 billion (USD 13.2 million) as part of its pre-Series B funding round. The investment was made by 360 One Asset Management, and will be used by Recykal to drive technology and product innovation. —Inc42
  • Zulu Defence Systems, a Bengaluru-based startup specializing in air defense solutions, has raised USD 750,000 in a seed funding round led by Finvolve. The round also saw participation from India Accelerator and other undisclosed investors. —VCCircle
  • Paytring, a payment orchestration platform, has raised an undisclosed amount in a pre-seed funding round led by Unlimit. The capital will be used for product development, expanding its market reach, and acquiring new customers. —VCCircle
  • Biodeal Pharmaceuticals, a Noida-based contract manufacturer for pharmaceutical companies, has secured INR 1.1 billion from the Performing Credit Fund of Piramal Alternatives (Piramal Group). —VCCircle

Peptobiotics, Allies of Skin, RedDoorz, and more led Tuesday’s headlines:

  • Peptobiotics, a Singapore-based agritech startup, raised USD 6.2 million in an oversubscribed Series A funding round led by Hatch Blue, with participation from Seventure Partners, SEEDS Capital, The Yield Lab Asia Pacific, GrainCorp Ventures, Farmabase, Trendlines Agrifood Fund, Ponderosa VC, and other investors.
  • Allies of Skin (AOS), a Singapore-based skincare brand, secured a USD 20 million investment from Meaningful Partners.
  • RedDoorz, a Singapore-based budget hotel network, secured USD 28.2 million from Asia Partners, Jungle Ventures, the Mirae Asset-Naver Asia Growth Fund, and SIG Venture Capital, among other investors.

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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