Truely raises USD 3.5 million in seed funding to scale its eSIM platform
Truely, a travel eSIM provider enabling global mobile connectivity, has raised USD 3.5 million in seed funding, led by 1982 Ventures with participation from Beenext and Kopital Ventures. Angel investors such as JJ Chai (formerly of Airbnb), Kum Hong Siew (formerly of Airbnb), HY Sia (Tranglo), Mohammad Gharaybeh, Qin En Looi, Eric Dadoun, and Gilbert Relou also joined the round.
Launched in July 2023, Truely addresses a growing market need for seamless data connectivity without the clutter of physical SIM cards. With eSIM adoption forecasted to grow, driven by demand for mid-tier smartphone eSIMs and affordable data plans, Truely plans to use the fresh capital to extend its reach, targeting B2B2C offerings for travel operators and airlines as the travel industry rebounds post-pandemic.
Jazro raises MYR 1.2 million from Gobi Partners
Jazro Robotic Academy, a Malaysian robotics education startup incubated by Petronas Innovation Garage (PING), has raised MYR 1.2 million (USD 285,000) from Gobi Dana Impak Ventures, a Gobi Partners-managed fund.
Founded in 2020, Jazro’s mission is to provide hands-on robotics and coding education, particularly to underserved communities, with over 50,000 students said to have participated to date. The company also focuses on providing tailored robotics education for children with autism—a growing area of interest in tech-driven learning.
Jazro will use the new funds to expand its footprint across Malaysia, filling a gap in the country’s digital education framework as the government pushes for broader digital literacy.
First Circle secures USD 7 million from IFC to expand in the Philippines
First Circle, a provider of digital financial services in the Philippines, has secured USD 7 million from the International Finance Corporation (IFC) in a funding round joined by Endeavor Catalyst, Fasanara Capital, and existing investors Insignia Ventures Partners and Accion.
This investment coincides with a critical phase of growth for First Circle, which has provided financing to over 3,000 SMEs in the country.
Access to credit remains a significant hurdle for SMEs in the Philippines, where credit penetration for smaller businesses is estimated by the Asian Development Bank (ADB) to be just 2.2% of GDP, trailing behind other Southeast Asian markets.
First Circle’s ability to offer fee-free business banking and flexible credit solutions positions it to play a vital role in improving financial inclusion for small businesses—a key focus for both the IFC and the Philippines’ Department of Trade and Industry.
OpenAI closes USD 6.6 billion funding round amid internal turmoil
OpenAI, the company behind ChatGPT, has completed a USD 6.6 billion funding round, valuing the artificial intelligence powerhouse at USD 157 billion, according to The Wall Street Journal. Thrive Capital led the round, with major contributions from SoftBank, Nvidia, and Microsoft. This marks one of the largest funding rounds ever for a private company and signals confidence in OpenAI’s future, despite internal upheavals.
The capital injection comes as OpenAI continues to face significant operational costs in scaling its AI models, including its GPT-4 and GPT-5 series. While the company has captured global attention with ChatGPT, it remains unprofitable and is forecasted to lose around USD 5 billion this year.
The funding will help OpenAI extend its product suite, catering to enterprise clients while it navigates its transition from a nonprofit to a full-fledged for-profit business model.
Toyota invests an additional USD 500 million in Joby Aviation to support electric air taxis
Joby Aviation, an electric air taxi company, has secured an additional USD 500 million in investment from Toyota, bringing the Japanese automotive giant’s total investment in the venture to USD 894 million.
Joby has recently rolled out its third electric air taxi prototype and is progressing through the Federal Aviation Administration (FAA) certification process. With Toyota’s support, Joby aims to bring its electric vertical takeoff and landing (eVTOL) aircraft into commercial service, a potential game changer for urban transport and a key element in Toyota’s broader strategy to address global mobility challenges.
Aiello receives USD 5 million to expand AI-powered hospitality tech
Aiello, a startup specializing in natural language processing (NLP) technology, has received USD 5 million in a funding round led by Cool Japan Fund and the CDIB Cross Border Innovation Fund. The round included participation from E.Sun Venture Capital and existing backers JAFCO Asia and Wistron Corporation.
Aiello’s AI-driven platform, Aiello-One, provides hotels with a smart management system that handles guest requests, cross-departmental tasks, and offers real-time data analytics.
With reportedly 55.1 million guest interactions to date, the company is positioned to modernize the hospitality industry in regions like Japan and Southeast Asia, where labor shortages are pressing. The new funds will help Aiello deepen its partnerships and refine its product to meet growing demands for automation in hotel operations.
Podeo raises USD 5.4 million in Series A to expand its podcast platform
Podeo, a podcast distribution platform based in the UAE, has raised USD 5.4 million in a Series A funding round led by Oraseya Capital, according to TechCrunch. The round included participation from Ibtikar Fund, Cedar Mundi Ventures, and returning investor Razor Capital.
Podeo, which serves millions of subscribers primarily in the Arab world, found its footing after the 2020 Beirut explosion, when users turned to the platform to share stories and connect.
With podcast listenership growing in emerging markets, Podeo is planning expansions into Latin America, Eastern Europe, and Southeast Asia. The funds will also support Podeo’s content creation efforts, as it seeks to capitalize on its momentum by developing exclusive podcasts and scaling its advertising tech for creators, making the platform a stronger competitor to global players like Spotify and Podimo.
Broom, Numa, and more led recent headlines:
- Broom, an Indonesia-based startup shaking up the used car market, landed USD 25 million in a Series A+ funding round led by Openspace, with support from AC Ventures, Quona Capital, MUFG Innovation Partners, and PKSHA Capital. The startup also secured credit facilities from players like Komunal, Modalku (Funding Societies), Alami, and DBS Indonesia.
- Mitsui & Co threw its weight behind US-based artificial intelligence startup Numa, investing in the company’s USD 32 million Series B funding round.
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