Papaya raises equity financing in Beenext-led round
Papaya, a Thailand-based ordering and payments platform for restaurants, bars, and hotels, has raised an undisclosed amount in an equity financing round led by Beenext, with participation from A2D Ventures.
The company plans to use the new capital to expand into Singapore, enhance its technology infrastructure, and boost marketing efforts to grow its merchant base.
Papaya’s platform offers a seamless digital ordering and payment experience across dine-in, takeaway, and delivery channels. The company claims its solution helps hospitality operators increase sales by 20% on average while reducing staff workload by up to 30%.
Since its launch, Papaya has partnered with several cafes and restaurants across Thailand, including Tim Hortons, Bartels, Fatboy Izakaya, The Commons, Vistro, and Okasan. Previously, the startup raised capital from Global Founders Capital and The MBA Fund.
BluMaiden Biosciences secures funding from Elev8.vc and Seeds Capital
BluMaiden Biosciences, a Singapore-based company specializing in small molecule drug discovery, has secured an undisclosed sum in a funding round led by Elev8.vc, with participation from Seeds Capital (Enterprise Singapore).
Leveraging “artificial intelligence-guided computational genetics and chemistry technology,” BluMaiden explores the chemical space within the human body to redefine drug discovery methods.
BluMaiden plans to use the funds to initiate its commercialization strategy, aiming for a significant Series A raise in 2025. Michael Tilman, chairman of BluMaiden, noted that the company has a US-focused commercial plan and has developed initial partnerships with cloud-based tech firms as well as healthcare and life science companies.
Chitose Bio Evolution secures JPY 1 billion from SMBC
Chitose Bio Evolution, a Singapore-based biotechnology firm, has announced the issuance of new shares worth JPY 1 billion (USD 6.3 million) through a third-party allotment to Sumitomo Mitsui Banking Corporation (SMBC).
This investment will be utilized to develop various bioproducts, expand production capacity, and prepare for an IPO on Nasdaq planned for 2027.
To date, Chitose Bio Evolution has raised a total of JPY 4.1 billion (USD 26.1 million), far exceeding its initial target, and aims to raise over JPY 15 billion (USD 95.6 million) by 2025 to strengthen its financial base and lead the bioeconomy.
Latest funding deals in India:
- Wisedrive, a warranty company, has received an undisclosed sum of funding from Rigel Capital. This investment will enable Wisedrive to introduce its warranty offerings to Southeast Asia.
- Incuspaze, an office and coworking space provider, has raised USD 8 million in its maiden funding round led by the India Inflection Opportunity Fund (IIOF) and other financial institutions.
- Stable Money, a fintech startup, has raised close to USD 15 million in a new funding round from RTP Capital, Lightspeed India, and Matrix Partners India.
- Slice, a consumer lending and payments startup, has raised INR 650 million (USD 7.7 million) in debt from Neo Markets. This is the second tranche of its USD 30 million debt funding round, following a previous INR 1.7 billion (USD 20.3 million) raise in June 2023.
- Lenskart, an eyewear retailer, has raised nearly USD 20 million from its co-founders Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi. This is the second investment by the co-founders in the last seven months.
- Newme, a fast fashion brand, has raised USD 18 million in its Series A funding round led by Accel, with participation from existing investors including Fireside Ventures and AUM Ventures. Newme plans to use the funds to expand its omnichannel presence and enhance its supply chain technology. The company aims to open 40–50 stores across 20 key cities in the next 12–18 months.
- Fresh Bus, an electric bus service operator, has raised INR 437 million (USD 5.2 million) in its Series A funding round. Maniv Mobility led the round with INR 356.8 million (USD 4.2 million), while the remaining sum was invested by Riverwalk Holdings. FreshBus plans to use the funds to enhance its manufacturing facility and expand its team.
- Corvi LED, a producer of LED light products, has raised USD 8 million in a funding round led by Enam Investments. The funding will enable it to expand into new geographies, diversify its product portfolio, and refine its technological capabilities.
Kindred Health, Peak Energy, Aereo, and more led last Friday’s headlines:
- Kindred Health, a female tech company in the Philippines, completed its pre-Series A funding round, raising USD 2.5 million in the first tranche and securing commitments for an additional USD 3 million upon achieving key milestones. This round was led by Integra Partners, with participation from Kaya Founders, KSR Ventures, Ava Zobel Pessina, Pawikan Capital Group, Tenco Capital, and individual investors including Frans Beltran and Micaela Beltran.
- Peak Energy, a US-based developer of sodium-ion battery technology, raised USD 55 million in a Series A funding round led by Xora Innovation, an early-stage deep tech investment platform run by Singapore state-owned investor Temasek. The round saw participation from Eclipse, TDK Ventures, Lachy Groom, Tishman Speyer, TechEnergy Ventures, Doral Energy-Tech Ventures, and DETV-Scania Invest.
- Aereo, an Indian company specializing in integrated drone solutions, closed a USD 15 million Series B funding round led by 360 One Asset. The round included participation from StartupXseed Ventures and Navam Capital.
If there are any news or updates you’d like us to feature, get in touch with us at: [email protected].