RushOwl raises USD 10 million to expand shared shuttle services across Asia
RushOwl, a Singapore-based ride-sharing platform, has raised USD 10 million in a Series A round led by Gobi Partners, with Hong Kong Investment Corporation as a partner.
Founded in 2018, the company provides AI-powered shared shuttle services in Singapore, India, and Hong Kong. Its routing system, RushOS, pools requests to reduce costs and emissions, and is reported to power 1.5 million rides and 4,000 trips daily.
RushOwl will use the funds to expand into the Philippines, South Korea, and Malaysia, while also opening an R&D center in Malaysia. The company plans to grow its B2B sales and license its software to fleet partners.
Zuzu secures USD 5.9 million to scale AI-driven revenue management in hospitality
Zuzu Hospitality, a Singapore-based platform serving independent hotels, has raised USD 5.9 million in a Series B extension round led by Wavemaker Growth, with participation from Velocity Ventures, Vulpes Ventures, and Latin Leap.
Operating across Southeast Asia and India, Zuzu supports hotels with its AI-powered revenue management tool, RevMate. The platform uses proprietary booking data to deliver tailored pricing and distribution insights.
The funds will be used to expand RevMate’s dataset, develop new features, and accelerate adoption across the region, aiming to help smaller hotels compete with global chains.
Airwallex adds billing power with OpenPay acquisition
Airwallex, a global financial solutions platform, has acquired San Francisco-based billing startup OpenPay.
The deal adds subscription management, payment orchestration, and revenue analytics to Airwallex’s product suite, strengthening its position against rivals such as Stripe Billing and Recurly. The new features will roll out globally in the final quarter of this year.
OpenPay’s system includes usage-based billing, AI-driven retention tools, and automated routing. Airwallex said the acquisition is part of its plan to build a global billing platform for businesses scaling across borders.
Fuku nets SGD 1.1 million to help SMEs hire competitively
Fuku AI, a Singapore-based recruitment startup, has raised SGD 1.1 million (USD 853,700) in a pre-seed round from an undisclosed group of family office and angel investors.
Founded earlier this year, the platform uses proprietary AI models for resume matching and candidate assessments to help businesses hire professional talent.
Since launching its beta in June, Fuku said it has onboarded 190 small businesses, with about 500 on its waitlist. The company will use the funds to expand into Malaysia, Hong Kong, Japan, and Australia, while targeting USD 1 million in annual recurring revenue within a year.
iEduGPT closes USD 10 million round to personalize learning at scale
iEduGPT, an edtech startup, has raised USD 10 million in a seed round backed by New Wheel Capital, Baywise Capital, SWC Global, Uphonest Capital, K3 Ventures, and Welight.
The platform uses AI to analyze learner gaps and develop personalized study paths for students preparing for exams such as CFA and FRM certifications.
The funding will support expansion into academic and language exams, including IELTS and SAT, as well as the addition of gamification and analytics features. iEduGPT also plans to expand globally with multilingual support.
Bang Jamin raises USD 4 million to broaden reach beyond Jakarta
Bang Jamin, an Indonesia-based digital insurance platform, has raised USD 4 million in a pre-Series A round co-led by Braxton Capital and SBI Ven Capital, with participation from BNI Ventures and BRI Ventures.
Launched in 2023, the company digitizes insurance distribution by embedding products into existing ecosystems such as banks and dealerships.
The new funding will be used to expand technology and product offerings while extending coverage to second- and third-tier markets in Indonesia, where insurance penetration remains low compared with Jakarta.
AnyMind acquires Nadesiko to deepen social commerce footprint
AnyMind Group, a Singapore-based technology company specializing in digital marketing and commerce solutions, has acquired Nadesiko, a Tokyo-based creator studio focused on beauty content.
Nadesiko produces short-form beauty videos for platforms such as TikTok. AnyMind said the acquisition will enhance its social-to-commerce strategy by integrating Nadesiko’s expertise with its existing tools.
Venturi Partners hits USD 150 million first close for second fund
Venturi Partners, a Singapore-based growth equity firm, has announced the first close of its second fund at USD 150 million, with a target size of USD 225 million.
The fund will back up to ten consumer-focused companies across India and Southeast Asia with initial investments of USD 15–40 million. Investors will also have opportunities for co-investment.
Venturi said the new fund builds on its USD 180 million debut vehicle, which invested in companies including Livspace, Country Delight, and Believe.
Origgin launches Japan hub with USD 30 million fund
Origgin Ventures, a Singapore-based deep tech venture co-creation firm, has established a Japan hub in Fukuoka.
The facility will focus on commercializing university and corporate research through Origgin’s venture co-creation framework. At launch, Origgin signed agreements with Japanese partners and announced a USD 30 million co-managed fund with Interuniversity Ventures for university spinoffs.
The company has also partnered with GxPartners to explore corporate venture creation, pilot projects, and proof-of-concept commercialization. The initiative aims to connect Japan’s research strengths with Southeast Asia’s growth markets.
Recent deals completed in China:
- H-Great, an automotive LED manufacturer, has raised nearly RMB 100 million (USD 14 million) in a Series B round from Xinfang Fund and Hywood. Founded in 2014, the company supplies vehicle lighting and displays. The funds will be used to expand production capacity, invest in R&D, and accelerate market growth. —36Kr
- DexTeleop Intelligence, a robotics startup formed by researchers from Tsinghua University and Carnegie Mellon, has raised an eight-figure RMB sum in a seed extension round led by Meridian Capital, with Innoangel Fund, Tsinghua Innovation Ventures, and Telescope also participating. —36Kr
- Tagsiu, a Chinese craft beer brand founded in 2020, has raised nearly RMB 10 million (USD 1.4 million) in a pre-Series A round. The investors include MinIPO, Coosoul Brewery, and Jiangzhen Venture Capital. The startup will use the proceeds to expand its retail channels, store network, and supply chain. —36Kr
- Jiangci Electronics, a developer of advanced piezoelectric materials and devices, has raised an eight-figure RMB sum in a pre-Series A round co-led by Yijing Capital and Qianrong Investment Holding Group. Suzhou International Development Venture Capital and Taihu Golden Valley also joined the round. The proceeds will support production expansion and commercialization. —36Kr
- Weiyi Wenhua, an immersive entertainment startup founded in 2023, has raised an eight-figure RMB sum of angel funding from Shanjia Investment. The company said it plans to develop large-scale panoramic entertainment projects and build original intellectual property. —36Kr
- Tianyao New Materials, a semiconductor materials firm, has bagged an eight-figure RMB sum of Series A financing in a round led by Houxue Capital, with participation from China Fortune-Tech Capital and Guoyuan Securities. The company will use the funds to expand production lines, invest in R&D, and develop overseas markets for cadmium zinc telluride substrates and other semiconductor materials. —36Kr
- PhotoG (Orange Vision), a marketing solutions provider, has raised an eight-figure RMB sum in a new funding round led by Cloud Angel Fund, with Leaguer Ventures and GSR United Capital participating. The capital will be used to advance model development and commercialization of its AI-driven marketing platform. —36Kr
- Greenlab, a men’s grooming brand launched in 2023, has secured nearly RMB 10 million in a pre-Series A round from Co-Share Capital. The company said it will invest in product development and brand building. —36Kr
- PhDUO, a consumer health startup, has closed an angel round of financing, securing an eight-figure RMB sum. The round was led by TWSC co-founder Wei Hongzhang, with participation from investor Tan Xianchai. Funds will be used to upgrade its air disinfection gel technology, strengthen supply chains, and scale market channels. —36Kr
Blitz, Tazapay, Pintarnya, and more made recent headlines:
- Blitz Electric Mobility, an Indonesia-based electric vehicle logistics platform, raised an undisclosed amount in a pre-Series A round led by Malaysia’s Vynn Capital, with participation from Iterative Capital. Angel investors Balaji Srinivasan, Rajesh Venkatesh, and Vinner Ventures also joined, alongside institutional backers including ADB Ventures, FiveFortyAlpha, BonBillo Fund, and Peak XV Partners.
- Tazapay, a Singapore-based cross-border payments infrastructure provider, raised an undisclosed amount in a Series B round led by Peak XV Partners, with participation from Ripple, Circle Ventures, Norinchukin Capital, GMO VenturePartners, and existing investors January Capital and ARC180.
- Pintarnya, a Jakarta-based job platform that integrates financial services with employment opportunities, raised USD 16.7 million in a Series A round led by Square Peg, with participation from Vertex Ventures Southeast Asia & India and East Ventures.
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