Salmon secures USD 140 million in additional financing for Philippine expansion
Salmon Group, a financial technology company operating a banking and lending platform in the Philippines, has secured USD 140 million in additional financing to expand its lending operations and introduce new financial products.
The company plans to use the capital to expand its credit and in-store lending businesses, which it said are profitable, and launch motorcycle and micro, small, and medium enterprise lending products nationwide.
The latest financing follows a USD 100 million package secured in April, comprising USD 60 million in equity and USD 40 million in public bonds. In June 2025, Salmon also raised USD 88 million, including a USD 60 million drawdown under a USD 150 million Nordic bond framework and USD 28 million in equity.
Salary Hero raises USD 7.6 million to expand into Malaysia
Salary Hero, a Thailand-based platform that provides employees with early access to earned wages, has raised USD 7.6 million in a Series A round led by Cento Ventures. The financing includes USD 6 million in new equity, with participation from Kairous Capital and M Venture Partners.
Founded in 2022, Salary Hero enables employees to withdraw a portion of their earned wages before payday. It integrates with employers’ human resources and payroll systems, calculating available advances based on attendance records and recovering the funds through regular payroll deductions.
The funding will support Salary Hero’s continued expansion in Thailand and its entry into Malaysia, where it has established a local team.
Parallel Loop raises USD 6.6 million for enterprise AI adoption
Parallel Loop, an enterprise artificial intelligence company, has raised USD 6.6 million in a seed round led by 3one4 Capital. Other participants include Picus Capital, Flourish Ventures, Economic Development Innovations Singapore, and individual investors Vijay Shekhar Sharma, Kunal Shah, and Philip Yeo.
Parallel Loop helps midsize and large enterprises integrate AI into their existing systems and operational workflows. Its approach combines proprietary software infrastructure with engineering teams that work alongside customers to develop and deploy AI applications without requiring extensive changes to existing systems.
The company’s platform consolidates organizational information from databases, internal communications, and operating procedures into a structured repository. This information supports automated workflows and AI applications while allowing clients to retain control of their data within their own infrastructure.
The funding will support the expansion of its engineering team and client deployments across Asia, Europe, and the Middle East.
Vertex Ventures SEAI leads USD 3 million investment in Drylab
Drylab AI, a Singapore-based startup developing autonomous AI agents for life sciences research, has raised USD 3 million in a seed round led by Vertex Ventures Southeast Asia & India (SEAI), with participation from PatSnap.
Founded in 2025, the company develops AI systems designed to execute computational research workflows with limited human supervision. Its agents can interpret research objectives, plan analyses, select tools, process experimental data, and identify errors.
According to Drylab, its platform integrates more than 800 scientific tools and databases. It also uses a verification model trained on scientific analysis runs to evaluate methodological decisions and improve the reliability of its automated workflows.
The company offers deployment options on private infrastructure and local workstations. It launched commercially in February this year.
The new capital will support recruitment for enterprise sales roles, expansion of its engineering and biology teams, and efforts to obtain security and compliance certifications required by larger research organizations.
Recent deals in China:
- Liufang Semiconductor Technology, a Zhejiang-based semiconductor materials company also known by the Hexatron Tek brand, has raised more than RMB 100 million (USD 14.9 million) in a Series C1 round backed by Canglin Investment and Zhuji Industrial Investment Group. Founded in 2018, the company develops silicon carbide materials and components used in semiconductor crystal growth, epitaxy, and etching processes. It will use the proceeds for R&D and capacity expansion, including a new manufacturing facility scheduled to begin operations in December. —36Kr
- SpaceRobot, a Shanghai-based space robotics company, has completed a Series A round worth nearly RMB 100 million, backed by Yijing Capital, Fosun Capital, and Luyao Capital. Founded in 2022, the company develops robotic systems for satellite servicing, orbital refueling, repairs, and space manufacturing. Its first technology demonstration satellite, Xingjiyuan-1, launched in May 2025 and has operated in orbit for more than a year. SpaceRobot plans to launch its second satellite in the first quarter of 2027 to test a robotic arm with seven degrees of freedom. —36Kr
- GewuAI, a Hangzhou-based embodied intelligence startup, has secured nearly RMB 100 million in angel funding from investors including Peak Investment, Hongfu Invest, Hangzhou Capital, and Hangzhou Talent Group, alongside an unnamed provincial investment fund and several listed companies. The company develops AI systems that combine visual and tactile information to improve robotic manipulation. It will use the funding for model pretraining, hardware development, recruitment, and industrial pilot projects. GewuAI is working with customers in textile manufacturing, optical modules, and automotive components, with its first proof-of-concept delivery targeted for the end of 2026. —36Kr
- Sankai Mechanical and Electrical, a Zhejiang-based precision gearbox manufacturer, has raised a nine-figure RMB sum in a Series B round co-led by China’s Industrial Machinery Industry Investment Fund and WZ Group. Founded in 2007, the company manufactures planetary and harmonic reducers used in industrial automation and robotics. The proceeds will support R&D and production capacity expansion. —36Kr
NEU Battery Materials, IPID, 3cat, and others made recent headlines:
- NEU Battery Materials, a Singapore-based lithium recycling company, closed an oversubscribed USD 7.6 million round co-led by Shift4Good and SGInnovate, with participation from Paragon Ventures I as well as new investors Lotus Singapore Group and M7 Holdings.
- IPID, a Singapore-based payment intelligence company, 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.
- 3cat, a Malaysia-based retailer of preowned electronics, 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.
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Note: RMB figures are converted to USD at rates of RMB 6.69 = USD 1 based on estimates as of October 20, 2026, unless otherwise stated. USD conversions are approximate and, where appropriate, rounded for ease of reference. They may not fully match prevailing exchange rates.
