Thailand’s APX Solutions secures fresh funding to launch Singapore and Malaysia operations in 2024
The Thailand-based logistics technology company has secured fresh funding from ADB Ventures to support the launch of its operations in Singapore and Malaysia in 2024. The funding round also saw participation from Orzon Ventures and WV Fund II, and is expected to close in early 2024.
According to APX Solutions, the funds will facilitate the enhancement of its logistics platform by integrating artificial intelligence and advanced analytics capabilities. The company is aiming to leverage the strategic positions of Singapore and Malaysia in the Asia Pacific to expand its customer base and tap into the potential of the regional market.
“We are enthusiastic about the transformative impact that APX brings to the logistics landscape. [Its] palletised model addresses the critical issue of trucking backhaul and promises substantial efficiency gains, fostering a more sustainable supply chain,” said Thitirat Sittakaradej, investment specialist at ADB Ventures.
[Updated] Malaysia’s LiveIn raises USD 8.3 million to expand in Southeast Asia
LiveIn, a Malaysia-based prop tech company focused on serving the long-stay rental community, has raised USD 8.3 million in a funding round jointly led by Wavemaker Partners and InterVest. Other investors that participated in this round include Malaysia Debt Ventures, Jungle Ventures, and CAC Capital.
LiveIn will utilize the newly raised capital to expand its operations in Thailand as well as new markets Vietnam and Indonesia. The company intends to expand its portfolio of properties and hire more staff in these countries.
Update: In our initial report, based on insights from The Business Times, LiveIn was stated to have completed its third round of financing since it raised nearly USD 3 million in a Series A funding round in 2019. It was also mentioned that LiveIn had secured funds in 2020 and 2021. However, an update provided by LiveIn indicated that the reported change in valuation was inaccurate. This news brief has been edited to rectify the information accordingly.
Recent deals completed in China:
- Venture capital firm Panlin Capital has announced the second close of Hangzhou Panlin Xukang Fund, a venture capital fund focused on medtech, biopharmaceutical, and biotechnology solutions. The fund drew support from a wide range of investors including Hangzhou Science and Technology Innovation Group, Hangzhou Xiaoshan International Venture Capital, Chengdu Science and Technology Innovation Investment Group, HitGen, LEO Group, I-Mab, Zhongyuan Trust, and Chasestone Group, among others. Over 40% of Panlin’s existing limited partners (LPs) have reinvested in this fund.
- Huison Biotech, a Xiamen-based R&D company specializing in algal oil production, has secured RMB 10 million (USD 1.4 million) in fresh funding. It will use the funds primarily to expand its production capacity and develop its products. —36Kr
- Meson Science, a Nanjing-based biopharmaceutical R&D company, has banked an eight-figure RMB sum in a funding round led by Sinovation Ventures with the support of Tsing Song Capital. —36Kr
- NeuroDome, a Xi’an-based neurology-focused biotechnology company, has completed its pre-Series A funding round, raising an eight-figure RMB sum. The round was jointly led by Shaanxi Shantou Capital Management and Oriza Seed. CSSD, Xi’an Finance Investment Management, the Xi’an Talent Development Fund, along with existing investors FreesFund and Shunwei Capital, also took part in this round. NeuroDome will utilize the capital mainly to iterate and register its technology products. —36Kr
- Smart Yunzhou, a Beijing-based digital twin technology company, has raised an eight-figure RMB sum in a Series B funding round led by Hefei Hi-tech Venture Capital. The company will use the funds to conduct technology R&D, expand its product line, and develop its marketing channels. —36Kr
- JJC Technology, a Beijing-based equipment manufacturer for the oil and gas industry, has completed its Series E funding round, securing an undisclosed amount. The round was jointly led by CS Capital and Seekers Capital with the support of various investors. JJC will allocate the newly raised capital toward R&D. —36Kr
- CrowdDigital Technology, a Xiamen-based AI company, has raised an eight-figure RMB sum in a pre-Series A funding round from Chengmei Capital and the Xiamen Torch Industrial Investment Fund. CrowdDigital will use the funds primarily for R&D, business expansion, and team building. —36Kr
- UBIX, a Shenzhen-based technology enterprise specializing in storage systems, has bagged an eight-figure RMB sum in a pre-Series A funding round from a TopoScend Capital-managed fund as well as individual and institutional investors. Cloud Joy Capital acted as the financial advisor for this round. UBIX will utilize the capital to enhance its distributed storage system products and build a sales team. —36Kr
- Fulltime Robotics, a prop tech company, has secured an eight-figure RMB sum in a pre-Series A funding round from Kinzon Capital. The funds will be utilized for R&D, manufacturing, and commercial activities. —36Kr
- Cheespirit, a Shanghai-based cheese and dairy brand, has raised an undisclosed amount in a pre-Series A+ funding round from Cyanhill Capital. —36Kr
Latest deals in India:
- FlexifyMe, a health tech platform, has raised an undisclosed amount of funding from the angel funding platform of Ah! Ventures to expedite its growth and enhance its technology. FlexifyMe last raised USD 1 million in September this year, when it completed a seed funding round led by Flipkart Ventures with the support of various investors.
- Revfin Services, a lending-focused fintech firm, has raised USD 14 million in a Series B funding round led by Omidyar Network, which contributed around USD 5 million of the total investment sum. The round also saw participation from the Asian Development Bank, Companion Capital Limited, as well as existing investors Green Frontiers Capital and LC Nueva. —VCCircle
- TestnTrack, a Jaipur-based edtech startup, has raised an undisclosed amount in a pre-seed funding round from EvolveX. The startup intends to use the funds to develop its technology stack and expand its geographical presence across India. —VCCircle
- Scope, a startup-focused networking platform, has raised USD 45 million for its inaugural venture capital fund, primarily earmarked for investments in fintech and gaming startups. This fund will function as an independent entity under the Scope umbrella, leveraging its network of industry experts and members to furnish portfolio companies with strategic and operational support. —VCCircle
- DroneAcharya Aerial Innovations, a Pune-based drone startup, has agreed to acquire a 51% stake in industry counterpart PYI Technologies. The startup did not disclose the financial terms of this deal. —Inc42
Flexii, Tability, Zeroe, and more led yesterday’s headlines:
- Flexii, a Singapore-based staffing startup, secured an undisclosed amount of funding in a round led by East Ventures Japan.
- Tability, an Australian productivity-focused platform, bagged AUD 1.4 million (USD 953,000) in a seed funding round led by Investible with the support of Right Click Capital, Skalata Ventures, Empress Capital, Jelix Ventures, and angel investors.
- Zeroe, a UAE-based climate tech company, completed its seed funding round, securing USD 2.2 million. The round was led by Owen Rahadiyan, an Indonesian investor.
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