FB Pixel no scriptDeals in brief: Synphne, AwanTunai, and Sleek EV secure funding, Prosus Ventures and Airtree Ventures back Kismet, 16 China and India deals, and more | KrASIA

Deals in brief: Synphne, AwanTunai, and Sleek EV secure funding, Prosus Ventures and Airtree Ventures back Kismet, 16 China and India deals, and more

Written by KrASIA Writers Published on   6 mins read

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

Synphne secures USD 5 million in Series A round

Synphne (stylized as “SynPhNe”), a medtech spin-off from Nanyang Technological University in Singapore, has secured USD 5 million in a Series A funding round from Event Horizon Technologies, a member of the Nadathur Group—the family office of Infosys co-founder Nadathur Raghavan.

Currently incubated by NTUitive, the innovation and enterprise arm of the university, Synphne also maintains a presence in the US, headquartered in Somerville, New Jersey, operating under the name Synphne Health.

The company’s flagship product is a wearable solution designed to accelerate the rehabilitation of individuals recovering from stroke and patients battling neurodevelopmental and neurodegenerative disorders. This solution leverages novel technology that combines brain-muscle feedback, gamification, and data science, offering what the company describes as a “real-time inside view” into patient rehabilitation, enabling personalization to facilitate progress.

With this funding, Synphne aims to expand its commercial partnerships, scale its operations in the US, and further develop and validate its next generation of products and applications.

[Updated] Indonesia’s AwanTunai closes Series B round at USD 27.5m

AwanTunai, a Jakarta-based fintech startup offering point-of-sale financing solutions, has reportedly closed its Series B funding round at USD 27.5 million, according to DealStreetAsia.

The media outlet said that the round was led by global banking groups and sovereign investors, but did not disclose the names of investors.

Update: Following our initial report of AwanTunai’s fundraise, several media outlets have reported that the round was led by Norfund with the support of MUFG Innovation Partners and OP Finnfund. This news brief has been edited to provide this information.

Sleek EV extends pre-Series A round with support from Krungsri Finnovate

Sleek EV, an electric two-wheeler brand based in Singapore and Thailand, has announced the extension of its pre-Series A funding round with the support of Finnoventure Fund, which is managed by Krungsri Finnovate, the venture arm of Krungsri (Bank of Ayudhya).

Photo courtesy of Krungsri.

Prosus Ventures and Airtree Ventures back Kismet with USD 8.2 million seed investment

Kismet, a Melbourne-headquartered healthcare startup, has secured USD 8.2 million in a seed funding round jointly led by Prosus Ventures and Airtree Ventures.

Founded in February 2023, Kismet specializes in improving engagement in healthcare by focusing on better connecting caregivers, health insurers, and healthcare providers. The startup’s platform aims to make healthcare services more accessible and affordable by simplifying processes such as appointment booking while integrating with insurance benefits.

“[Kismet] is Australia’s first comprehensive digital ecosystem player, with a founding team with demonstrable experience and success. We’re thrilled to lead this investment round and support the company as it seeks to redefine the caregiving experience,” said Sachin Bhanot, head of investments at Prosus Ventures for Southeast Asia and the ANZ region.

Photo of Kismet’s leadership team. From left to right: Stefan Cordiner (COO), Lauren Grimes (chief experience officer), Sam Armstrong (chief ecosystem officer), Mark Woodland (CEO), and Mathew Ellis (CTO).
Photo of Kismet’s leadership team. From left to right: Stefan Cordiner (COO), Lauren Grimes (chief experience officer), Sam Armstrong (chief ecosystem officer), Mark Woodland (CEO), and Mathew Ellis (CTO). Photo courtesy of Prosus Ventures.

Recent deals completed in China:

  • AIsphere, a Beijing-based video generative model developer, has raised a nine-figure RMB sum in a Series A1 funding round led by Fortune Capital, with Lighthouse Capital serving as the exclusive financial advisor. The company will utilize the funds to further enhance its technology and expand its creator ecosystem. 36Kr
  • Zelos, a Suzhou-based autonomous driving technology company, has bagged close to USD 100 million in a Series A round of financing. The round was led by Meituan and saw participation from Baidu Ventures, Unicorn Capital Partners, Xianting Fund, and Seekdource. Existing shareholders Blue Lake Capital and Xiamen C&D Emerging Industry Equity Investment also contributed to this round. The proceeds will accelerate Zelos’s technology R&D, supply chain construction, and team expansion. 36Kr
  • GS Biotech, a Hangzhou-registered developer of bio-based furanic materials, has secured nearly RMB 100 million (USD 13.9 million) in a funding round led by Meridian Capital, with participation from Legend Capital Management and Junsan Capital. 36Kr
  • Eacon, a mining-focused autonomous haulage solutions provider, has secured USD 44.5 million in a Series C++ funding round. The round was led by existing investors Minxi Xinghang State-Owned Investment and Operation and Zijin Mining Group, with participation from Zhengzhou Talent Fund. The funds will be utilized for R&D and the conduct of unmanned driving operations. 36Kr

Latest funding deals in India:

  • BlackSoil NBFC, the flagship arm of alternative credit platform BlackSoil Group, has secured INR 1 billion (USD 12 million) in an equity funding round through a rights issue. The round saw participation from its existing local investors and family offices, and will enable BlackSoil to enhance its credit profile and borrowing capabilities to pursue further growth. —Entrackr
  • Foxtale, a D2C skincare brand based in Mumbai, has secured INR 1.195 billion (USD 14.4 million) in a funding round led by Panthera Growth Partners (PGP), Matrix Partners, and Kae Capital. —Entrackr
  • Kimbal Technologies, a smart metering company headquartered in New Delhi, has raised USD 5 million in its inaugural funding round. The round was led by Niveshaay, with participation from angel investors including Ayush Mittal (Mittal Analytics) and Sandeep Kapadia. The startup intends to utilize the funds to scale its operations and support new product development initiatives. —VCCircle
  • Attron Automotive, an electric vehicle components developer and solution provider, has raised INR 47.5 million (USD 573,350) in a seed funding round jointly led by Anicut Capital and Venture Catalysts. The round also saw participation from Pontaq VC and angel investor Yashovardhan Shah. Attron plans to utilize the capital to bring its motor and controller solutions to market and establish a production facility capable of catering to initial demand. —VCCircle
  • AbCoffee, a tech-enabled coffee chain, has raised USD 3.4 million in a Series A funding round led by Nexus Venture Partners, with participation from Tanglin Venture Partners. The raised funds will be utilized to enhance the company’s supply chain and technology stack. —VCCircle
  • Bummer, an innerwear brand, has raised USD 1.1 million in a pre-Series A funding round led by Gruhas Collective Consumer Fund, with participation from Fluid Ventures. The startup aims to utilize the funding to expand across tier-two and tier-three cities in India, enhance its offline presence, and recruit talent. —VCCircle
  • The Ayurveda Experience, a Gurugram-based Ayurvedic health and wellness platform, has concluded a Series C funding round, raising USD 27 million from Jungle Ventures, SIDBI Ventures, Anicut Capital, and Sharrp Ventures. —VCCircle
  • MyCaptain, an edtech startup, has raised around USD 1.7 million in a funding round from existing investors Inflection Point Ventures  and Ankur Capital, along with MyNavi, Piper Serica, and Super Capital. —VCCircle
  • FreeStand, a B2B marketing platform that simplifies the execution of product sampling campaigns for FMCG brands, has raised USD 400,000 in a seed funding round jointly led by Venture Catalysts and Nocking Point Advisors. The round also saw participation from IIM-Calcutta Innovation Park, SucSeed Indovation, and angel investors Guneet Singh and Varun Singh Hooda. —VCCircle
  • Mufin Green Finance, a listed non-banking financial company (NBFC), has secured USD 5 million in a debt funding round from BlueOrchard. —VCCircle
  • Rozana, a rural commerce startup, has raised USD 22.5 million in a fresh round of financing led by Bertelsmann India Investments, with participation from Fireside Ventures and other existing investors. The newly raised capital will be utilized to expand its logistical reach, enhance its technology platform, and boost hiring across various teams. —VCCircle
  • Baldor Technologies, the operator of identity verification platform IDfy, has received USD 27 million in a funding round led by Elev8 Venture Partners, with participation from KB Investment and Tenacity Ventures. The company plans to utilize the funds for further expansion in India and abroad. —VCCircle

Ai Palette, Rukita, Thryve.Earth, and more led yesterday’s headlines:

  • Ai Palette, a Singapore-headquartered technology startup specializing in using artificial intelligence and machine learning to enable consumer packaged goods (CPG) companies in product creation, received a USD 4 million investment from Tin Men Capital, bringing the funds raised in its Series A1 funding round to a total of USD 5.8 million.
  • Rukita, a company focused on providing affordable rental options in Indonesia, secured USD 15 million in a Series B1 funding round after recently turning EBITDA positive. Among the backers for the latest round include new investors MPower Partners, BNI Ventures, and Openspace Ventures.
  • Thryve.Earth, a nature-based carbon project developer, raised USD 2.6 million in a funding round led by Openspace Ventures, with participation from Capital Code and angel investors. The completion of this deal brings the total funding raised by the company to USD 3.4 million.

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


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