Salmon secures USD 88 million in bond and equity financing
Salmon Group, a financial services platform that operates a regulated bank and lending company in the Philippines, has secured USD 88 million through a mix of bond and equity funding. The deal includes a USD 60 million drawdown from a three-year, USD 150 million Nordic bond framework and USD 28 million in new equity.
Spice Expeditions led the equity round, joined by US institutional investors, Antler Elevate, and existing backers including the International Finance Corporation (IFC), Abu Dhabi’s Lunate, Northstar, and Back in Black Capital. The bond portion marks what is reportedly Southeast Asia’s first Nordic bond issuance by a technology firm.
Founded in 2022, Salmon offers consumer credit and digital banking services via its mobile app and a network spanning more than 3,000 locations. The company plans to use the new capital to scale operations across Southeast Asia and advance its proprietary credit and banking technology.
InstaPay raises Series A2 funding to expand B2B remittance offering
InstaPay Technologies, a Malaysia-based digital payments company, has closed a Series A2 round, raising approximately USD 3 million. The round was led by US-based family offices, with follow-on participation from ACA Investments.
The funds will be used to bolster working capital and accelerate the company’s remittance business, including the launch of a B2B solution under its Glyd corporate expense platform. Instapay currently offers digital payroll, e-wallet, and Mastercard products targeting underserved worker segments across Malaysia and Southeast Asia.
10Ants raises USD 500,000 to revitalize underused urban spaces
10Ants, an urban revitalization startup, has secured USD 500,000 in pre-seed funding from Wavemaker Impact. The company repurposes underutilized urban spaces such as vacant shophouse floors and warehouses into affordable, eco-friendly hubs for small and medium enterprises.
10Ants aims to bridge the gap between second-generation property owners and SMEs looking for cost-effective commercial real estate. It plans to develop a proptech platform that supports data-driven site selection, sustainability consulting, and business expansion tools.
The funding will go toward geographic growth and enhancing green retrofit capabilities designed to improve tenant efficiency and lower environmental impact.
Sleek raises Series B funding to enhance back office operations
Sleek, a Singapore-based business solutions provider, has raised USD 23 million in a Series B funding round led by Ellerston JAADE, with participation from Money Forward. The company supports SMEs with back office operations such as incorporation, accounting, payroll, and tax compliance.
Founded in 2017, Sleek said it currently serves more than 16,000 businesses across Singapore, Hong Kong, the UK, and Australia.
The new capital will be used to expand its automation-focused services, broaden its digital product suite, and drive growth in Australia and the UK.
Recent deals completed in China:
- LaserX, a high-precision automation equipment firm specializing in optical communication semiconductors, has raised a nine-figure RMB sum in a Series C funding round. The round was led by China Venture Capital Fund, with participation from Beijing Electric Control Industry Investment, Changjiang Capital, and SCGC. The funds will be used to boost R&D, expand production, and grow the company’s overseas footprint. —36Kr
- Boonray, a developer of electric autonomous vehicles for open-pit mining, has secured a nine-figure RMB sum in a Series B2 funding round co-led by Waterwood, JZ Capital, and Daocin Capital. Existing investors also joined the round. Boonray will use the funding to develop large-tonnage unmanned mining trucks, build a dedicated manufacturing center, and scale internationally. —36Kr
- PaXini Technology, a company focused on tactile sensing and embodied intelligence, has closed a Series A funding round totaling several hundred million RMB. The investors include TCL Capital, Addor Capital, Shang Qi Capital, SenseCapital, CITIC CLSA, Hunan Chasing Fund Management, and Junxi Capital. Glacier Capital China acted as the strategic advisor. The new capital will go toward technology development, data acquisition, and manufacturing capacity expansion. —36Kr
- Aerospace Electric Propulsion Tech, a manufacturer of electric propulsion systems for aerospace applications, has raised an eight-figure RMB sum in a Series A1 funding round co-led by Xunshang Venture Capital and Shanshan, with follow-on funding from Beihang Investment. The capital will support team expansion and production capabilities. —36Kr
- Huameta, a developer of liquid crystal phased-array antennas, has closed a nearly RMB 100 million (USD 14 million) pre-Series A funding round led by Xingxiang Investment Holding Group. Cash Capital, Xiangjiang Group, and Leyi Capital also participated. The funds will be used to build a new factory, expand hiring, and grow market presence. Winsoul Capital advised the deal. —36Kr
- Haawking, a digital signal processor (DSP) maker, has completed a pre-Series B+ funding round with backing from Huajin Capital and Megmeet. The company said it will use the capital to support product promotion and client acquisition. —36Kr
- Tosso, an industrial automation startup based in Shanghai, has raised an eight-figure RMB sum in a Series A funding round led by Seas Capital, with Mount Capital advising. The funds will be used for R&D, hiring, and operational scaling. —36Kr
- Light Element Technology, a company developing inkjet printing equipment for tandem solar cells, has secured an eight-figure RMB sum in an angel round of financing led by Vision Knight Capital. Zhongsu Capital and the Suzhou High-tech Zone Science and Technology Angel Fund also joined. The capital will go toward tech upgrades and development. —36Kr
- Whobot, a voice AI agent developer, has raised an eight-figure RMB sum in a Series A funding round led by GSR Ventures. Xiangyang Capital Management acted as the financial advisor. The funds will be deployed for tech development and go-to-market efforts. —36Kr
- NeuralFin, a Hong Kong-based financial services platform, has completed a Series A funding round worth an eight-figure HKD sum. GPTX, C Capital, and Shuren Education participated. —36Kr
Atome, Coco Robotics, Allay Therapeutics, and more made recent headlines:
- Atome, a buy now, pay later (BNPL) platform under Advance Intelligence Group, secured a USD 75 million asset-backed financing facility from Lending Ark.
- Coco Robotics, an autonomous vehicle company focused on last-mile logistics, raised USD 80 million from a slate of investors including returning backers Sam and Max Altman, Pelion, Outlander, and SNR, along with new participants Offline, DeepWater, and Ryan Graves.
- Allay Therapeutics, a clinical-stage biotech company, raised USD 57.5 million in a Series D funding round co-led by Lightstone Ventures and ClavystBio, with support from NEA, Vertex Growth, EDBI, SGInnovate, Maruishi Pharmaceutical, and other investors. HSBC Innovation Banking provided venture debt.
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