NEU Battery Materials closes USD 7.6 million round to expand battery recycling
NEU Battery Materials, a Singapore-based lithium recycling company, has closed an oversubscribed USD 7.6 million funding round co-led by Shift4Good and SGInnovate.
New investors Lotus Singapore Group and M7 Holdings participated, alongside existing backer Paragon Ventures I.
NEU uses a proprietary electrochemical process to recover lithium from lithium iron phosphate batteries. The technology is designed to handle manufacturing scrap and spent battery materials, recovering lithium for reuse in battery production.
The financing follows the commissioning of NEU’s new Singapore facility, which has an annual processing capacity of 1,300 tons. The company said its recycling technology uses electricity, water, and chemicals that can be regenerated to reduce waste and environmental impact compared with conventional methods.
NEU will use the funding to increase production of battery-grade lithium, lower processing costs, develop commercial partnerships, and expand internationally.
OneByZero raises USD 20 million in Series A funding
OneByZero, a Singapore-based enterprise artificial intelligence company, has raised USD 20 million in a Series A round led by Jungle Ventures, marking its first external funding.
The company specializes in deploying AI systems within large enterprises, particularly in financial services, telecommunications, and retail. Its engineers work alongside customers to integrate AI into existing business processes and maintain the systems after deployment.
The funding will help expand its engineering teams across its nine existing markets, including Singapore, India, Indonesia, Malaysia, Australia, and the US. OneByZero also plans to establish operations in Japan, expand into healthcare and the public sector, and further develop its AI platform.
Blue Fire AI secures minority investment from Asset Management One
Blue Fire AI, a Singapore-based investment technology company, has announced a minority equity investment from Japan’s Asset Management One (AM-One), an asset manager affiliated with Mizuho Financial Group. The investment forms part of Blue Fire’s latest funding round, which closed with USD 9 million in total commitments. AM-One’s investment amount was not disclosed.
The investment is part of a broader commercial agreement involving Blue Fire AI, AM-One, and Mizuho Financial Group to develop and distribute AI-powered investment products in Japan.
Founded in 2016, Blue Fire develops AI-driven investment analysis technology for institutional asset managers. Its proprietary software combines machine learning with structured reasoning to support fundamental company analysis, securities valuation, and portfolio management.
Under the agreement, AM-One plans to incorporate Blue Fire’s technology into new equity investment strategies for institutional and retail clients. The partnership will give Blue Fire AI access to AM-One’s distribution network and investment management operations as it expands the commercial applications of its technology.
IPID secures USD 16 million in Series A round
IPID, a Singapore-based payment intelligence company, has raised USD 16 million in a Series A round led by Foundation Capital, with participation from Citi and HSBC. Existing investors QED Investors, Monk’s Hill Ventures, and Quona Capital also joined the round.
The company provides bank account and payment recipient verification services, helping financial institutions identify intended recipients and assess potential risks before processing transactions. The company said its services support financial institutions operating in more than 50 countries.
IPID is expanding beyond bank account verification into broader payment intelligence, addressing gaps in recipient information as real-time payment systems and automated transactions become more widespread.
The funding will help expand its global payment intelligence network, accelerate growth in the US and Europe, and develop new verification and risk assessment capabilities. These will cover conventional payment systems alongside emerging payment methods involving stablecoins and other digital assets.
3cat raises USD 4 million to enter the Philippines
3cat, a Malaysia-based retailer of preowned electronics, has raised USD 4 million in a Series A round led by Foxmont Capital Partners, with participation from the Asian Development Bank (ADB) and Golden Gate Ventures.
Founded in 2023, the company combines physical stores and online sales with device quality assessments, financing options, and after-sales support. It has expanded to more than 20 stores across Malaysia, offering refurbished electronics with a 12-month warranty and return policy.
The funding will support 3cat’s entry into the Philippines, its first international market, where it aims to offer more affordable alternatives to new smartphones and other electronic devices.
Separately, ADB has authorized an additional USD 2.8 million for potential participation in future funding rounds. This is separate from its investment in the current Series A round.
Nexstrom raises USD 12 million in seed funding to commercialize 2D semiconductors
Nexstrom, a Singapore-based semiconductor technology company, has raised USD 12 million in a seed round led by Xora Innovation, with participation from Foothill Ventures and Seeds Capital, an arm of SG Growth Capital.
The round brings Nexstrom’s total funding to USD 15 million, including USD 3 million in nondilutive funding.
Founded in 2024, Nexstrom develops manufacturing technology for two-dimensional semiconductor materials, which form atomically thin layers that could enable more energy-efficient transistors. Its platform combines chemical vapor deposition equipment, specialized processes, and materials engineering to produce single-crystal semiconductor layers on industry-standard 12-inch wafers.
The company was incubated through Xora’s venture building program. Its technical development is led by co-founder Lance Li, who previously conducted research on post-silicon electronics at TSMC.
Nexstrom will use the capital to advance its platform toward commercial-scale manufacturing, validate the technology with semiconductor foundries, and expand its engineering and leadership teams.
Recent deals in China:
- Deepagens, a Shanghai-based marketing technology company, has completed an eight-figure RMB angel round led by Huagong Tech. The company develops generative engine optimization (GEO) tools that help businesses improve their visibility in AI-generated responses. The funding will support technology development, product upgrades, overseas expansion, and talent recruitment. —36Kr
- Yisheng New Materials, a Harbin-based developer of metal matrix composites, has raised nearly RMB 100 million (USD 14.9 million) in a Series A3 round co-led by Oriza Hua and Changjiang Innovation. Other investors include CSC Financial, Bondshine Capital, Fengyuan Capital, and Silver Cypress Capital. Existing backer Zhongguancun Qihang participated through its Xinchuang Fund. The company produces diamond-aluminum and diamond-copper composites used in thermal management for high-power chips and aerospace applications. The proceeds will fund equipment purchases and recruitment of specialists. —36Kr
- ModCraft, an AI-powered game modification platform, has secured an eight-figure RMB sum in seed funding from investors including SenseCapital and the Lighthouse Founders’ Fund. Its platform lets users create game modifications, commonly called mods, using natural language, and discover and share content developed by other players. It supported 28 games at the time of reporting. ModCraft also plans to use gameplay and modification data to train AI models for game development. The funding will support model training and platform growth. —36Kr
- Rino.ai, a developer of Level 4 autonomous delivery vehicles, has completed a USD 100 million Series C round led by Hidden Hill Capital. Other participants include Xiangtan state-backed investors, Shenzhen Major Industry Investment Group, Hunan Chasing, South Korea’s Woori Financial Group, and Bozheng Capital. The company develops driverless logistics vehicles and fleet management services. Its largest single funding round to date will support autonomous driving and physical AI technology development, alongside the expansion of its urban delivery operations. —36Kr
- Pongbot, an AI-powered sports equipment company, has raised a nine-figure RMB sum in a Series B round led by the SSCI Leading Fund, with participation from Oriza Hua, Pudong Venture Capital, and returning investor BlueRun Ventures. The company develops ball launching robots and coaching systems for table tennis and tennis training. Its products combine visual tracking, movement analysis, and automated training feedback. It plans to use the proceeds to develop sport-specific AI models and computer vision technology, expand international distribution, and enter additional sports categories. —36Kr
- LaserCyber, a Shenzhen-based developer of laser metalworking equipment, has completed an eight-figure RMB round backed by Inspiration Capital and Ravine Capital. Founded in August 2025, the company develops desktop laser systems for small workshops, metalworking businesses, and individual creators, primarily in overseas markets. Its first product, the L1 series, combines welding, cutting, and laser cleaning, with AI-assisted settings designed to simplify operation. The company said its Kickstarter campaign has attracted more than USD 1 million in pledges. —36Kr
- Wefly, a Suzhou-based electric vertical takeoff and landing aircraft developer, has completed a financing round of nearly RMB 100 million led by Suzhou Capital Group. The round also drew investment from Jiangsu’s strategic emerging industries angel fund and Xiangcheng Investment Holdings, alongside existing backers Ince Capital and Linear Capital. Wefly develops passenger and cargo aircraft using a shared platform. Its passenger aircraft, the W280, had its application for type certification accepted for review by Chinese aviation authorities on September 1. The proceeds will support product R&D, flight testing, and certification activities. —36Kr
- Chongmou Technology, a Beijing-based developer of high-resolution satellite imaging equipment, has completed multiple financing rounds totaling nearly RMB 100 million. Established in 2024, the company specializes in optical remote sensing cameras capable of capturing images at resolutions of 0.5 meters or better. The funding will support mass production of its existing camera systems, standardized manufacturing capacity, and development of higher-resolution products for commercial satellite applications. —36Kr
- ScanArk, a developer of simulation environments for training robots, has completed a pre-angel round, bringing its total funding across three rounds in four months to an eight-figure RMB sum. Its seed, seed extension, and pre-angel financings have attracted investors including Langcheng Capital, Sealand Innovation, and unnamed robotics and industrial investment organizations. ScanArk develops interactive digital environments using 3D Gaussian splatting, enabling robots to practice physical tasks and learn from simulated interactions before real-world deployment. —36Kr
- Weilan Deep Sea, an underwater robotics company, has completed five financing rounds in nine months, most recently a fourth angel extension round. Its backers across these rounds include Shenzhen Capital Group, Oriza Seed, Panorama Capital, and existing investor Innoangel Fund. The company develops autonomous underwater robots to inspect and maintain offshore energy infrastructure. It has also delivered inspection services to customers. The funding will support underwater AI model training, construction of a dedicated training center, and further deployment in offshore oil and gas applications. The financing amounts were not disclosed. —36Kr
- Tachin Technology, a Beijing-based developer of flexible tactile sensors, has secured a nine-figure RMB sum in a pre-Series A++ round co-led by the Beijing Artificial Intelligence Industry Investment Fund and Beijing New Materials Industry Investment Fund, both managed by Shunxi Capital. The company develops stretchable electronic skin, tactile data collection gloves, and sensing systems for robotics and consumer devices. Its technology captures contact pressure, temperature, and other physical interactions. The funding will support technology R&D, automated production lines, manufacturing improvements, and supply chain development for commercial applications. —36Kr
- NeoDomain, an AI-powered creative software company, has completed an eight-figure RMB angel round backed by Huace Film & TV. Its main product, Neowow, is a canvas-based platform for individual professional creators to develop and share AI-generated content and creative workflows. The company said the investment is also expected to support collaboration between NeoDomain and Huace Film & TV in talent development, technology, and content creation. —36Kr
Dana, Xora, Motion Ventures, and others made recent headlines:
- Dana, an Indonesian digital wallet and financial services platform, has received an undisclosed investment from 01F Group through its growth-stage private equity arm for fintech, 01Fintech.
- Xora, a Temasek-backed fund, led an additional USD 53 million seed investment in Hang Ten Systems, bringing the company’s total funding to USD 85 million. Mayfield, which led Hang Ten’s first seed round, and Aramco Ventures also participated.
- Motion Ventures, a Singapore-based maritime tech investor, joined Isometric’s Series A round, expanding it to USD 50 million. Intercontinental Exchange, the operator of the New York Stock Exchange, also joined the round.
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Note: RMB figures are converted to USD at rates of RMB 6.71 = USD 1 based on estimates as of October 13, 2026, unless otherwise stated. USD conversions are approximate and, where appropriate, rounded for ease of reference. They may not fully match prevailing exchange rates.
