FB Pixel no scriptDeals in brief: Novosol, Tsubame BHB, and InnoCSR secure funding, Franklin Templeton leads investment in Blockhead, nine China and India deals, and more | KrASIA

Deals in brief: Novosol, Tsubame BHB, and InnoCSR secure funding, Franklin Templeton leads investment in Blockhead, nine China and India deals, and more

Written by KrASIA Writers Published on   5 mins read

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

Novosol bolsters expansion plans with Series B funding

Novosol, a Singapore-based mobile advertising platform, has closed its Series B funding round at USD 10 million, securing investments from family offices in Singapore and the UK.

According to a statement by Novosol, the company intends to utilize the newly raised capital to expand into key markets across the Middle East and South Asia, including Vietnam and Thailand, among others.

Additionally, the proceeds will be allocated to advancing the development of moLotus, Novosol’s flagship product, which empowers advertisers to interact with customers through personalized and automated video messages to drive lead and revenue generation.

Tsubame BHB bags JPY 5.3 billion in Series C round

Tsubame BHB, a Japanese ammonia synthesis systems developer, has bagged around JPY 5.3 billion (USD 35.2 million) in a Series C funding round through third-party allocation of shares to both new and existing investors, including Heraeus Group and Yokogawa Electric Corporation.

Established in April 2017, Tsubame is capable of synthesizing ammonia at low temperatures and pressures using what the company claims to be “the world’s first electride catalyst method.” This method can be employed by small ammonia production plants for local applications, reducing carbon emissions through decreased transportation and storage requirements.

With Heraeus’ investment, Tsubame intends to develop its business and strengthen its supply chain, particularly focusing on the European market. Additionally, the newly raised capital will be utilized for R&D targeting further cost reductions in the ammonia production process, contributing to the commercialization of small-scale ammonia production plants in Japan.

InnoCSR secures funding in Series A round

InnoCSR, an Asia-focused consulting firm specializing in social responsibility strategies, has secured an undisclosed amount of funding in a Series A funding round. The round saw participation from ADB Ventures, Garden Impact Fund, and Clarion Newlife Capital.

According to a statement by InnoCSR, the proceeds from this round will be utilized to drive widespread adoption and operation of its “Good Bricks System” in Nepal and across Asia, with plans to launch in India and Pakistan this year. This system utilizes novel technology to produce non-fired bricks, significantly reducing the environmental, economic, and health impacts associated with the manufacturing of traditional fired bricks.

“The Good Bricks System is poised to disrupt South Asia’s carbon-intensive brick manufacturing industry, which heavily relies on decades-old processes and technology,” said Arsalan Farooquee, a venture capitalist at ADB Ventures.

Franklin Templeton leads investment in Blockhead

Blockhead, a digital assets-focused media platform based in Singapore, has secured an undisclosed amount of funding in a round led by Franklin Templeton.

This investment will enable Blockhead to adapt its business model with the introduction of BRN, a research platform designed to complement its existing media offerings.

Recent deals completed in China:

  • Doevol Material and Technology, a Ningbo-based technology company specializing in hot isostatic pressing techniques for advanced composite materials, has secured an eight-figure RMB sum in a pre-Series A funding round led by Zheshang Venture Capital (ZSVC). The company will utilize the funds for product R&D and to optimize its sales network.36Kr
  • Bubu Health Technology (also known as Smart Panda), a Guangzhou-registered developer of tech-enabled maternity and baby care products, has completed a new strategic investment round, raising an undisclosed sum from a fund managed by Suzhou Nanhui Technology Innovation Institute. Smart Panda will allocate the capital toward promotions and new product development.36Kr
  • Haomo.ai, an autonomous driving systems developer, has banked over RMB 100 million (USD 13.9 million) in a Series B1 funding round from Chengdu Wufa Private Equity Fund Management. According to a statement from Haomo.ai, the company intends to utilize the newly raised capital for R&D and to support the Wuhou district of Chengdu, Sichuan, to develop robotic solutions.36Kr
  • Yuanchuang Zhixing, a smart city solutions provider currently focused on developing unmanned, urban sanitation solutions, has recently bagged an eight-figure RMB sum in a Series A funding round. The company did not disclose the investor details, but said that it will use the proceeds to bolster product development, build its capacity, and support market expansion efforts.36Kr
  • Swap Space, a Shanghai-headquartered marketing company focused on helping catering businesses boost sales through a commercial platform,  has announced the completion of a Series B+ funding round, securing an eight-figure RMB sum.36Kr

Latest deals in India:

  • Varaha, a climate tech startup specializing in nature-based carbon credit generation, has raised USD 8.7 million in a Series A funding round led by RTP Global, with contributions from existing investors Omnivore and Orios. Norinchukin Bank, AgFunder, and the Octave Wellbeing Economy Fund (IMC Pan Asia Alliance Group) also participated in this round.
  • RentoMojo, a Bengaluru-headquartered furniture rental company, has secured an investment of INR 2.1 billion (USD 25.3 million) in its ongoing Series D and D1 funding round. The round is led by the first series of the Edelweiss Discovery Fund, with participation from Chiratae Growth Fund and Magnetic. —Entrackr
  • Virohan, a healthcare education services provider, has bagged INR 149 million (USD 1.8 million) in an extended pre-Series B funding round led by Blume Ventures. The round also saw participation from Mitsui Sumitomo Insurance Venture Capital and other individual investors. The company will use the funds for its healthcare vocational training programs. —Entrackr
  • Samunnati, an agriculture-focused financing startup, has secured USD 9 million in debt funding from Impact Investment Exchange (IIX). The startup intends to lend the capital to farmers, enabling them to increase their income and adopt climate-centric agricultural practices. —Inc42

UnoAsia, Transparently.AI, Vidyut, and more led yesterday’s headlines:

  • UnoAsia, the parent company of Uno Digital Bank in the Philippines, raised USD 32.1 million in a pre-Series B funding round that saw participation from Gateway Partners, Creador Private Equity, and Nextinfinity Management.
  • Transparently.AI, a Singapore-based startup developing artificial intelligence-based software for accounting fraud detection, secured an undisclosed amount from Franklin Templeton as part of its admission to the asset manager’s fintech incubator program. Franklin Templeton’s investment is part of a USD 3 million pre-Series A funding round that valued the startup at USD 20 million.
  • Vidyut, an electric vehicle financing and lifecycle management platform, raised USD 10 million in a Series A funding round led by 3one4 Capital. The round also saw participation from new and existing investors including Saison Capital, Zephyr Peacock, Force Ventures, Alteria Capital, and Sujeet Kumar (Udaan).

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