FB Pixel no scriptDeals in brief: Smartworks bags USD 12 million, Thailand’s CP Group invests in GoPizza, IPO-bound Ola Electric nets debt funding, and more | KrASIA

Deals in brief: Smartworks bags USD 12 million, Thailand’s CP Group invests in GoPizza, IPO-bound Ola Electric nets debt funding, and more

Written by Jeff Chay Published on   4 mins read

Bringing you the latest updates on funding deals and activities in the Asia Pacific.

Smartworks secures USD 12 million capital boost

Smartworks, a Gurugram-based office space provider, has raised USD 12 million in a funding round led by Ananta Capital, with participation from around 45 investors including Plutus Capital, Kili Ventures, and Dhawan Family Trust.

Founded in 2016, Smartworks provides flexible workspace solutions that can be customized to meet the needs of clients. It operates over 8 million square feet of office space across more than 40 locations in 14 major cities, with a client base of over 600 organizations.

The funds will be utilized to fuel the company’s expansion plans and strengthen its position in the coworking space market.

The company previously raised USD 25 million from Keppel Land in a Series A round back in 2019. —Inc42

Thailand’s CP Group invests USD 10 million in GoPizza

GoPizza, a tech-enabled pizza chain, has received a USD 10 million investment from Charoen Pokphand Group (CP Group), a Thai conglomerate that operates 7-Eleven and Lotus.

This investment brings the total funding secured by GoPizza to USD 50 million and adds CP Group to the chain’s list of investors, alongside other conglomerates such as GS Venture and CJ Investment.

With this funding, GoPizza aims to launch over 1,000 outlets in South Korea and expand globally to operate 1,200 outlets by the end of 2024. The company said it also aims to double its global pizza sales by year-end, after achieving EBITDA breakevens across approximately 40% of its stores within their first six months of operations. In 2023, GoPizza amassed an overall revenue of approximately USD 35 million.

IPO-bound Ola Electric receives debt funding from Alteria Capital

Ola Electric, a Bengaluru-based electric scooter manufacturer, has raised USD 12 million in debt funding from Alteria Capital, according to Entrackr.

This comes after the startup became India’s first electric vehicle maker to receive approval from the Securities and Exchange Board of India for an IPO, which it has valued at USD 660 million.

The company previously received a USD 50 million debt funding boost from EvolutionX in April 2024.

Clapingo raises pre-Series A funding

Clapingo, an on-demand English tutoring platform, has raised an undisclosed amount in a pre-Series A funding round from a clutch of investors including Sandeep Aggarwal (Droom and ShopClues), Biswa Kalyan Rath, and Appurv Gupta.

The funds will be used to enhance the company’s product offerings, with a view to further develop the platform’s fluency report system to ensure customers receive prompt and precise feedback, as well as to strengthen marketing efforts to expand its user base.

Recent deals completed in China:

  • Leidong, a national enterprise specializing in clean tech, has secured an eight-figure RMB sum in a Series A financing round. The round was led by Baoding Hi-tech Zone Venture Capital with the support of Dankang Investment and other undisclosed investors. The company will utilize the funds to further accelerate technological innovation and expand production capacity. 36Kr
  • LanchenSL, a digital solutions provider serving primarily the construction industry, has completed a Series A round of financing. The investor details were not disclosed. The funds will be used to expand the team, accelerate product R&D, and explore new markets. 36Kr
  • Eli, a manufacturer of air suspension solenoid valves, has received an eight-figure RMB sum of strategic funding from Fresh Capital. The capital injection will be primarily used for expanding new production lines, building new factories, and increasing investment in R&D. 36Kr
  • Ingeek, an automotive technology company, has raised close to RMB 300 million in a Series C funding round from Jinhua Ketai Fund and Continental AG, with InvesTarget acting as the exclusive financial advisor. The funds will support R&D in automotive intelligence, supply chain enhancement, and global strategy deployment. 36Kr
  • Da Instruments, a Shenzhen-registered test and measurement company, has secured tens of millions of RMB in an angel round of financing. The investors include CDF-Capital, Shenzhen Co-Stone Asset Management, and Qirong Venture Capital. The funds will be allocated for talent development, R&D, and market promotion. 36Kr
  • Tsinergy Gasification Technology, a Henan-registered producer of hydrogen liquifiers, has completed a pre-Series A+ round of financing, raising a total of RMB 158 million. The investors include CGN Capital Holdings, China Merchants Securities, Roton Capital, and the Gongyi Advanced Manufacturing Industry Development Fund, among other institutional investors. 36Kr
  • Pukang Biotechnology, a Chengdu-based company, has completed a Series B+ round of financing, raising hundreds of millions of RMB. IDG Capital co-led the round alongside Mirae Asset Financial Group, with follow-on investment from Huimei Capital and existing investors GL Ventures, Huatai Zijin, and Grand Yangtze Capital. 36Kr
  • Huaxin Tianwei, a high-tech enterprise based in Chengdu, has completed a new round of equity financing. Chuyao Fund and Sharewin Equity Fund Management took part in this round. 36Kr

Deemples, YesWeHack, Innoviti, and more led yesterday’s headlines:

  • Deemples, a Malaysia-based app-based platform for golfers, raised USD 2 million from Singapore-based venture capital firm V Ventures.
  • YesWeHack, a bug bounty and vulnerability management platform, raised USD 28 million in a Series C funding round led by private equity firm Wendel. New investors Adelie and Seventure Partners participated, along with reinvestment from Bpifrance, Open CNP, and Eiffel Investment Group.
  • Innoviti, a Bengaluru-based provider of integrated payment solutions, initiated the second close of its Series E funding round with an investment from US-based Alumni Ventures.

If there are any news or updates you’d like us to feature, get in touch with us at: [email protected].


Auto loading next article...