FB Pixel no scriptDeals in brief: Pyxis and Gaia EnviroTech secure funding, Japan’s Reazon Holdings invests in Validus, 11 China and India deals, and more | KrASIA

Deals in brief: Pyxis and Gaia EnviroTech secure funding, Japan’s Reazon Holdings invests in Validus, 11 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.

Pyxis secures SGD 4.5 million in oversubscribed seed round

Pyxis, a Singapore-headquartered maritime electrification startup, has raised SGD 4.5 million in a seed funding round jointly led by Motion Ventures and Shift4Good.

The oversubscribed round also saw participation from SEEDS Capital (Enterprise Singapore), MarImpact (Transport Capital), ShipsFocus, strategic marine operators as well as local firms including Tian San Shipping, Kim Ann Investments, and LCC Resources.

Pyxis said it will utilize the newly raised capital to fast-track the development of its electrification technology and scale production for various lines of electric harbor crafts.

“We are excited to confirm Shift4Good’s investment in Pyxis and look forward to supporting the growth of the company in the coming years. Coastal vessels are very strong candidates for electrification since the range limitations of electric batteries are less of a concern. In Singapore alone, there are about 1,200 coastal vessels that could become electric by 2030. The market opportunity is huge,” said Sebastien Guillaud, co-founder and general partner at Shift4Good.

Victoria-based Gaia EnviroTech receives AUD 4.3 million commitment

Gaia EnviroTech, a Victoria-based organic waste management and bioenergy company, has received an AUD 4.3 million commitment from the decarbonization fund of RFC Ambrian Funds Management. This deal was closed at the end of January.

The company is currently in the process of commercializing its technology to serve various sectors including food production, manufacturing, and agriculture, and will leverage its newly formed partnership with RFC Ambrian to expedite this process. —Australian Financial Review

Japan’s Reazon Holdings invests in Vietnamese subsidiary of Validus

Reazon Holdings, a Tokyo-based IT company offering advertising, marketing, and food tech solutions, has invested an undisclosed amount in VGrowth Development, the Vietnamese subsidiary of Validus Investment Holdings (Validus Group).

Validus operates a financing platform for small and medium enterprises in Southeast Asia, with operations across Singapore, Indonesia, Thailand, and Vietnam.

According to a statement released by Reazon, this investment is strategically aimed at tapping into the market potential for SME finance in Vietnam and leveraging the “future potential” of Validus, based on its track record in other Southeast Asian countries.

In addition to the investment, this deal involves Reazon offering business growth support to Validus. This support encompasses various aspects, including facilitating financing procurement through Reazon’s network.

Konvy confirms completion of USD 11 million Series A round

Last month, the Bangkok-based online beauty retailer confirmed the completion of its USD 11 million Series A round.

The round saw participation from various international investors including New Day Ventures Limited, the investment arm of Robinsons Retail Holdings, Alibaba International Digital Commerce Group, and existing investor Insignia Ventures Partners.

Photo of Konvy’s team. From left ro right: Leon Huang (co-founder and CFO), Mia Chou (e-commerce director), Qinggui Huang (co-founder and CEO), Pornsuda Vangvidhayakul (managing partner), and JC Chen (CCO).
Photo of Konvy’s team. From left ro right: Leon Huang (co-founder and CFO), Mia Chou (e-commerce director), Qinggui Huang (co-founder and CEO), Pornsuda Vangvidhayakul (managing partner), and JC Chen (CCO). Photo courtesy of Insignia Venture Partners.

Recent deals completed in China:

  • AI-Link, a provider of industrial and edge computing solutions, has secured RMB 150 million in a Series A funding round. The round saw participation from a slew of investors including Intel Capital, Shenzhen Angel Fund Direct Investment Fund, China Innovative Capital, Puxin Capital, Sumitomo Corporation Equity Asia, Singtel Innov8, and Huadi Private Equity. The company will utilize the funds for product R&D, large-scale commercialization of its products in key markets, and to expedite its expansion into overseas markets. 36Kr
  • Medpha Biotechnology, a Zhuhai-based biomaterials company specializing in the development of polyhydroxyalkanoate (PHA) products, has completed its Series A+ funding round, raising an undisclosed amount. The round was led by Huafa Properties’ investment platform, with participation from Taiping Innovation and Motianshi Investment Holding. The funds will be used primarily for R&D, production line expansion, market promotions, and team building. 36Kr
  • Zhongke Xingye High-Tech Material, a Sichuan-registered advanced materials company, has completed a new round of equity financing led by Canghai Capital. The company did not disclose the sum raised. 36Kr
  • Zhixin Leitong Microsystem Technology, a Chengdu-registered developer of millimeter-wave phased-array antenna and transceiver components, has bagged an undisclosed amount of funding from Gongqingcheng Blue Ocean Wangyuan Venture Capital and Sichuan Zhongguang Lightning Protection Technologies. 36Kr
  • Runchi New Material Technology, a Yangzhong-based technology firm engaged in the R&D, production, and sales of high-purity quartz, graphite, and carbon fiber-based thermal field materials, has bagged an eight-figure RMB sum in an extended angel funding round from Qizhen Innovation Venture Capital. Runchi will use the capital for capacity building, team expansion, and product R&D. 36Kr
  • Fuan Electronics (Pairui), a Chuzhou-based provider of power supply products and electronic components, has announced the completion of its Series A+ round of financing, exclusively invested by October Capital. 36Kr
  • Anchorman Biotechnology, a Shanghai-based developer of biopharmaceutical consumables, has banked an eight-figure RMB sum in a pre-Series A funding round from the Ruili Medical New Consumer Industry Investment Fund. The company will allocate the funds toward the R&D and production of high-quality consumables in the biopharmaceutical industry. 36Kr
  • Yuanxin Satellite Technology, a Shanghai-registered solutions provider for low-orbit satellite constellations, has completed a RMB 6.7 billion Series A funding round. The round was led by China’s National Manufacturing Transformation and Upgrading Fund, with support from Shanghai Alliance Investment and participation from various other investors. The newly raised capital will be used for constellation construction, technology R&D, market development, and daily operations. 36Kr
  • Rebecca Tech, a Hangzhou-based biocompatible micro-electromechanical system (MEMS) technology developer, has announced the completion of a Series A++ funding round, snagging USD 10 million. The round was led by Med-Fine Capital. 36Kr

Latest funding deals in India:

  • Algorithmic Biologics, a biotechnology-focused algorithm development company, has raised USD 2.5 million in a pre-Series A funding round led by the Bharat Innovation Fund (BIF). The round also saw participation from existing investor Axilor Ventures. —VCCircle
  • Wiz Freight, a Chennai-based digital freight forwarding company, has released an update stating that it has raised INR 1.25 billion in its ongoing SBI Investments-led Series B funding round. The updated list of participating investors include Tiger Global, the Nippon Express Fund (under Nippon Express Holdings), Axilor Technology Fund (Axilor Ventures), Foundamental, Arali Investments, Unikon Shopping Ventures, and various family offices. —Entrackr

Hukumonline, Pintar, Ditrolic Energy, and more led last Friday’s headlines:

  • Hukumonline, a resource portal for law and regulation in Indonesia, secured an undisclosed sum in Series B funding from Indonesia’s Media Development Investment Fund.
  • Pintar (formerly known as HarukaEdu), an Indonesian edtech company that provides workforce development solutions, raised USD 3 million in a pre-Series A funding round led by Havez Capital. SIG Venture Capital participated in this round.
  • Ditrolic Energy, a renewable energy developer, reached an agreement with global asset management company BlackRock that will see the latter invest an undisclosed amount through Climate Finance Partnership, its flagship public-private finance vehicle.

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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