Slice snags USD 17.5 million in equity and debt round
Slice, a fintech startup specializing in travel payments, has raised USD 17.5 million in a combined equity and debt funding round. The equity investment of USD 7.5 million was spearheaded by Peak XV Partners, while the debt facility of USD 10 million was provided by Melbourne-based Roadnight Capital.
Founded in 2018, Slice allows users to lock in flight prices months ahead and pay in manageable installments. “Our vision was to help customers access travel while also helping them to budget sensibly and avoid financial hardship,” said Farouk Ismail, CEO of Slice.
The funds will be used for product enhancements and to scale the startup’s B2B offering, Slice Pay, for travel agents.
Aleta Planet secures undisclosed investment from National Pulse
Aleta Planet, a Singapore-based entity specializing in cross-border payment services for businesses in the Middle East, has received an undisclosed investment from National Pulse, a Dubai-based tech-focused firm. This funding will enable Aleta Planet to expand its presence in the Middle East and Africa. The company will establish its global headquarters in Dubai, while continuing to coordinate its expansion in Southeast Asia from its Singapore office.
Additionally, Aleta Planet plans to form a joint venture with National Pulse to focus on B2B cross-border transactions, initially targeting the Middle East’s agricultural trade and logistics sectors. —e27
Otsuka Pharmaceutical to acquire Jnana Therapeutics
Otsuka Pharmaceutical, a Japanese pharma company, has announced it will acquire Boston-based Jnana Therapeutics for more than USD 1 billion. The deal includes an upfront payment of USD 800 million and up to USD 325 million in development and regulatory milestones.
Jnana, a clinical-stage biotechnology company, focuses on drug candidates for rare diseases and immune disorders. The acquisition is expected to close in the third quarter of this year.
This acquisition is aimed at expanding Otsuka’s drug pipeline and research capabilities, particularly in the Boston area, aligning with its focus on psychiatric drugs and cancer treatments.
Pichi Finance raises USD 2.5 million in seed round
Pichi Finance, a “trustless points trading protocol,” has raised USD 2.5 million in a seed funding round co-led by UOB Venture Management, Signum Capital, and Mantle Network.
The round also saw participation from DWF Ventures, Wise3 Ventures, and Genesis Block Ventures.
Recent deals completed in China:
- SynSense, a company developing neuromorphic computing solutions, has raised several hundred million RMB in a strategic financing round led by Ningbo Tongshang Fund, with participation from other investors like Samsung. SynSense, founded in 2017 and incubated by the Zurich Institute of Neuroinformatics, operates advanced R&D centers and joint laboratories in Zurich, Ningbo, Shanghai, and Chengdu. The company plans to use the funds to further develop its technologies. —36Kr
- Astribot, an artificial intelligence and robotics company, has announced the completion of pre-Series A round of financing, raising an eight-figure USD sum. Matrix Partners led this round, with participation from Dalton Venture, Dalton Qinghui Investment Management, and existing investor Yunqi Partners. China Renaissance acted as the exclusive financial advisor. The funds will be used for talent acquisition, R&D, and commercialization. —36Kr
- SineuGene, a biotechnology firm, has secured nearly RMB 100 million (USD 13.8 million) in pre-Series A funding. Zhongguancun Development Group led the round, with additional investment from ZBJL Capital, Transfar, and Sanmei Investment. —36Kr
- Micron Biotechnology, a Chengdu-based company developing functional microspheres using microfluidic technology, has completed a pre-Series A funding round, securing an eight-figure RMB sum from Chengdu Capital Group and Sichuan Development Holding. —36Kr
- eTopus, a semiconductor solutions company, has completed its Series B++ funding round. Shang Qi Capital was the investor. The exact investment amount was not disclosed. eTopus was founded in Silicon Valley in 2014 and registered in Shanghai. —36Kr
Beep, M-DAQ Global, Intellecs.ai, and more led yesterday’s headlines:
- Beep, a Singapore-based internet-of-things company, raised USD 3.3 million in a pre-Series A funding round co-led by Granite Asia, Farquhar VC, SUTD Venture Holdings, and Wing Vasiksiri, with participation from M7 Ace Neo.
- M-DAQ Global, a Singapore-headquartered fintech firm, acquired Malaysian B2B payments service provider Easy Pay Transfers.
- Intellecs.ai, a Singapore-based AI-powered research and writing platform, secured USD 125,000 in pre-seed funding from Antler.
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