FB Pixel no scriptDeals in brief: Toku to acquire AiChat, Strativity Group bought by UST, ADQ and OIA launch new fund to stimulate MENA tech innovation, and more | KrASIA

Deals in brief: Toku to acquire AiChat, Strativity Group bought by UST, ADQ and OIA launch new fund to stimulate MENA tech innovation, 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.

Toku set to acquire AiChat

Toku, a cloud communications and customer experience solutions provider, has announced its intent to acquire Singapore-based chatbot startup AiChat. The financial terms of the deal were not disclosed.

This acquisition will enable Toku to supplement its voice, messaging, and cloud communications solutions with AiChat’s artificial intelligence-powered capabilities.

UST acquires Strativity Group

Strativity Group, a Sydney-based business consultancy with expertise in customer experience, has been acquired by California-based digital solutions firm UST for an undisclosed amount.

Following the acquisition, Strativity will spearhead UST’s customer experience-related offerings in Australia and New Zealand.

In February, UST acquired Melbourne-based business process optimization firm Leonardo to enhance its capabilities and strengthen its position in Australia and New Zealand.

ADQ and OIA announce launch of USD 180 million Jasoor Fund

ADQ, an Abu Dhabi-based investment and holding company, has announced the launch of the Jasoor Fund in partnership with the Oman Investment Authority (OIA). The new technology-focused fund forms part of a broader framework agreement signed in 2022.

Comprising USD 180 million in capital, the Jasoor Fund will aim to support innovative tech startups within the Middle East and North Africa, with a view to boosting sectors such as fintech, edtech, health tech, clean tech, agritech, and logistics in the region.

Recent deals completed in China:

  • Haomo.ai, an autonomous driving solutions provider, has raised RMB 300 million (USD 41.4 million) in its Series B2 funding round. The investment comes from a newly formed fund by existing investor JZ Capital and Changxing County in Huzhou, Zhejiang. This follows its Series B1 round in February, when it secured over RMB 100 million (USD 13.8 million) from Chengdu Wufa Private Equity Fund Management. Gu Weihao, CEO of Haomo.ai, told KrASIA that the company will continue to invest in large models, computing power, big data research, and cognition products to strengthen its technological foundation.
Self-driving technology is a highly competitive industry in China, and Zhang Kai, chairman of Haomo.ai, is hoping the company can win clients over with “extremely cost-effective advanced driver assistance systems.” Photo courtesy of Haomo.ai.
  • AIsphere, a Beijing-based video generative model developer, has secured over RMB 100 million in a Series A2 funding round. The round was led by Ant Group, with Lighthouse Capital serving as the exclusive financial advisor. The company will utilize the funds to further iterate its large models and enhance its team. 36Kr
  • Nafei Health, a provider of health management solutions, has completed a Series A funding round, securing RMB 200 million (USD 27.6 million). The investment comes from a Zhongqing Capital-managed fund. The company’s solutions include counseling, R&D of health products, and more. 36Kr
  • Da Instruments, a Shenzhen-registered test and measurement company, has completed an angel round of financing, raising over RMB 10 million. The investors include CDF-Capital, Shenzhen Co-Stone Asset Management, and Qirong Venture Capital. The company plans to use the funds for talent development, product R&D, and market promotion. 36Kr
  • Simpure, a technology enterprise focused on solving problems in the chip supply chain, has announced the completion of its Series B funding round. The round was led by Huahong Hongxin Fund. Simpure did not disclose the amount, but said it will use the funds to construct its new manufacturing facility. 36Kr
  • Systech, a company specializing in the development of wet processing equipment for semiconductors, has raised over RMB 100 million in a Series B funding round. The round was led by Guoxin Investment, with participation from Shanghai STVC Group and Xiamen ITG’s industrial fund. 36Kr
  • Gatpor, a developer of laser and photoelectric sensors using direct time-of-flight (DTOF) ranging techniques, has completed an angel funding round, bagging an eight-figure RMB sum. The investment was exclusively provided by Atom Ventures. Gatpor plans to utilize the funds for R&D, production base construction, scaling production, and market development. 36Kr

Latest funding deals in India:

  • Dhruva Space, a space tech startup based in Hyderabad, has completed its Series A funding round, bagging USD 15 million. The Indian Angel Network Alpha Fund, Blue Ashva Capital, Silverneedle Ventures, Big Global Investment JSC (Bitexco Group), IvyCap Ventures, Mumbai Angels, and Blume Founders Fund were among the investors who participated in this round. —Inc42
  • Adukale, a Bengaluru-based instant food and snack brand, has raised USD 1.3 million in a pre-Series A funding round led by Force Ventures, with participation from Aanya Ventures and angel investors such as Subrata Mitra and Radhika Pandit. —Inc42
  • Rentomojo, a Bengaluru-headquartered furniture rental company, has secured an undisclosed sum of Series D funding from ValueQuest Scale Fund. Rentomojo intends to utilize the funds for further expansion, targeting other metropolitan cities in India beyond Bengaluru. —Inc42
  • Ecozen, a Pune-based deep tech startup focusing on sustainable agriculture, has received USD 30 million in debt and equity funding. The InCred Credit Fund and the US International Development Finance Corporation (DFC) are financing the debt component, while equity funding is provided by Nuveen Global Fund and other investors. —Inc42
  • Nabhdrishti Aerospace, a Bengaluru-based deep tech startup specializing in gas turbine engine development, has raised INR 30 million (USD 360,160) in a pre-seed funding round led by IIMA Ventures. —Entrackr

Accacia, Swat Mobility, Seedflex, and more led yesterday’s headlines:

  • Accacia, a real estate-focused carbon accounting platform, completed a USD 6.5 million pre-Series A funding round. The round was led by Illuminate Financial and saw participation from AC Ventures as well as early investors Accel and B Capital.
  • Swat Mobility, a Singapore-headquartered provider of smart mobility and transportation solutions, raised an additional USD 3.8 million of funding. The round saw participation from the NEC & Translink Orchestrating Future Fund, NX Global Innovation Fund, and Chubu Electric Power.
  • Seedflex, a fintech company based in Singapore and Malaysia, raised an undisclosed sum of seed funding from 500 Global to launch a “pay-as-you-sell” service in Southeast Asia.

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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