FB Pixel no scriptDeals in brief: Uber to buy Delivery Hero’s Foodpanda in Taiwan, Hysata lands USD 111.3 million in Series B funding, Active Surfaces closes oversubscribed pre-seed round, and more | KrASIA

Deals in brief: Uber to buy Delivery Hero’s Foodpanda in Taiwan, Hysata lands USD 111.3 million in Series B funding, Active Surfaces closes oversubscribed pre-seed round, and more

Written by Jeff Chay Published on   6 mins read

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

Uber Eats to acquire Delivery Hero’s delivery business in Taiwan

Uber Technologies has reached an agreement to purchase Delivery Hero’s Foodpanda delivery business in Taiwan for USD 950 million. The deal, which is subject to regulatory approval and other customary closing conditions, is set to be finalized in the first half of 2025.

The acquisition will see Uber Eats take over Foodpanda’s existing consumer, merchant, and delivery partner base in Taiwan. The agreement is supplemented by the company’s purchase of USD 300 million in newly issued ordinary shares in Delivery Hero.

Hysata closes USD 111.3 million Series B round

Hysata, a Wollongong-based manufacturer of green hydrogen electrolyzers, has announced the closing of the largest Series B funding round to date by an Australian clean tech company, according to a statement it released.

The round was jointly led by bp Ventures and Templewater, and saw participation from IP Group Australia, Kiko Ventures, Virescent Ventures, Hostplus, Vestas Ventures, and BlueScopeX, POSCO Holdings, POSCO E&C, IMM Investment Hong Kong, Shinhan Financial Group, Twin Towers Ventures, IDO and TelstraSuper.

The company will use its funds to expand its manufacturing base in Wollongong, with a view to attaining gigawatt-scale manufacturing capabilities.

Active Surfaces nets USD 5.6 million in oversubscribed pre-seed round

Active Surfaces, a solar technology startup and MIT spinoff, has secured USD 5.6 million in an oversubscribed pre-seed funding round led by Safar Partners, with participation from QVT, Lendlease, Type One Ventures, Umami Capital, Sabanci Climate Ventures, New Climate Ventures, SeaX Ventures, and other investors.

The startup, which specializes in the development of flexible thin-film solar modules, emerged as the winner of the LKYGBPC Kajima Innovation Award in September 2023.

Active Surfaces plans to use the funding to scale production of its laboratory-fabricated photovoltaic devices, which it said will be capable of mass producing thin, flexible solar materials of any size.

Photo of Shiv Bhakta (left) and Richard Swartwout, co-founders of Active Surfaces.
Photo of Shiv Bhakta (left) and Richard Swartwout, co-founders of Active Surfaces. Photo courtesy of Active Surfaces.

Allozymes gains USD 15 million in Series A funding

Allozymes, a Singapore-based biotechnology startup specializing in enzyme discovery and engineering, has closed its Series A funding round at USD 15 million. The round was co-led by Seventure Partners and Xora Innovation, with participation from NUS Technology Holdings, Thia Ventures, in addition to existing investors SOSV and Entrepreneur First.

The firm aims to use the funds to further enhance the industry’s enzyme data library for enzyme research, with plans for overseas expansion, platform advancement, and vertical expansion.

MetisX nets USD 44 million in Series A funding

MetisX, a fabless technology company headquartered in Seoul, has raised USD 44 million in a Series A funding round, bringing its total funding to USD 50 million.

For this round, MetisX drew investments from SV Investment, STIC Ventures, LB Investment, and the Industrial Bank of Korea, in addition to a host of existing investors including Mirae Asset Venture Investment, Mirae Asset Capital, IMM Investment, SBI Investment, Tony Investment, and Wonik Investment Partners.

Data Zoo raises USD 22.7 million in Series A funding

Data Zoo, a digital identity solutions provider headquartered in Sydney, has garnered USD 22.7 million in Series A funding from Ellerston Jaade, bringing the company’s valuation upwards of USD 100 million.

The company will use the funds to fuel software innovation and bolster its global expansion.

Notti secures funding from 500 Global and First Move

Notti, a Malaysian pet food retailer, has secured an undisclosed sum of investment from 500 Global and First Move. Founded in April 2023, the company will use the funds to facilitate its overseas expansion.

Sqreem Technologies acquires TotallyAwesome

Sqreem Technologies, an artificial intelligence analytics firm headquartered in Singapore, has announced its acquisition of TotallyAwesome, an online youth engagement platform also based in Singapore, for an undisclosed sum.

The deal will facilitate the integration of Sqreem’s proprietary AI technology with TotallyAwesome’s database comprising digital profiles of over 900 million users.

Garderob receives USD 350,000 capital boost

Garderob, a Kazakhstan-based online marketplace for secondhand fashion products, has raised USD 350,000 in a funding round led by Tumar VC, with participation from Activat VC and angel investors.

Jejakin confirms USD 2.7 million seed round

Jejakin, an Indonesian climate tech startup focusing on carbon management, has confirmed that it raised USD 2.7 million in a seed funding round, following DailySocial’s May 2 report. Investors for this round include East Ventures, PT ITM Bhinneka Power, Indogen Capital, and SMDV.

The company, which operates a carbon accounting and monitoring platform, will deploy the funds for R&D and market expansion.

Recent deals completed in China:

  • Hypershell, a Shanghai-based exoskeleton technology company, has completed a pre-Series A funding round worth an eight-figure RMB sum, led by Vitalbridge, with Minerva Capital serving as the long-term exclusive financial advisor. The funds raised in this round will mainly be used to scale production, expand into international markets, and build its team. 36Kr
  • CVSAT Technology, a Chengdu-based firm specializing in satellite communication systems, has announced the completion of its angel funding round, with investment from Beyond Capital and Jingrong Chuangxing Fund. 36Kr
  • Shretec Material Technology, a new materials development company, has completed a Series A funding round of nearly RMB 100 million, exclusively invested by MultiGo Capital. 36Kr
  • DexForce, a machine vision technology company, has completed a funding round led by Lenovo Capital. The funds will be mainly used for product development, team expansion, and market expansion. 36Kr
  • Nobaday, an outdoor sports equipment manufacturer, has completed a funding round worth an eight-figure RMB sum, with Yang Haiwei, former COO of Li-Ning Group, as the investor. 36Kr
  • SolidNE, a company focused on developing phosphorus-doped carbon-based materials for electrodes, has snagged an eight-figure RMB sum in a funding round from Oriental Fortune Capital. The funds raised in this round will mainly be used for R&D, production line construction, and team building. 36Kr
  • LaserLink, a Shanghai-registered producer of precision optics and mechanical products, has completed a Series A+ funding round, raising an eight-figure RMB sum. The capital will mainly be used for production line expansion, technology iteration, and product testing and verification. 36Kr
  • AM Make, one of China’s leading metal additive manufacturing solutions providers, has completed a pre-Series A+ funding round worth an eight-figure RMB sum, led by a fund under Zhejiang University Holding Group and with participation from existing shareholder Unity Ventures. The funds will be used for technology R&D and commercialization. 36Kr
  • Ban&Choc, a chocolate product brand, has completed a Series A funding round, banking RMB 20 million from an undisclosed investor, at a post-money valuation exceeding RMB 100 million. 36Kr
  • Najing Technology, an enterprise specializing in the development of optical metasurface devices, has announced the completion of a pre-Series A funding round, securing an eight-figure RMB sum. This round was jointly led by the China Internet Investment Fund and Fresscon Capital, with Baida Group participating. The funds raised will mainly be used for product development and capacity building. 36Kr

Latest funding deals in India:

  • BimaPay, a New Delhi-based insurtech startup, has raised USD 2 million in a funding round led by LC Nueva Investment Partners. The firm will use the funds to upscale operations and bolster its infrastructure. —Inc42
  • Celcius Logistics, a Mumbai-based cold chain solutions provider, has raised USD 4.7 million in a pre-Series B funding round led by existing investor IvyCap Ventures, with participation from Mumbai Angels and Caret Capital. —Inc42
  • Niqo Robotics, a Bengaluru-based agritech startup specializing in AI-powered agrochemical spraying services, has closed its Series B funding round at USD 13 million. The round was led by Bidra Innovation Ventures, with participation from Fulcrum Global Capital and existing investor Omnivore. —Inc42
  • Highperformr, a Chennai-based social media marketing solutions provider, has raised USD 3.5 million in a seed funding round jointly led by Venture Highway, Neon, and DeVC, with participation from angel investors including Shan Krishnasamy, Sidharth Malik, Suman Gopalan, Arvind Parthiban, Alok Goel, and Tarkeshwar Thakur. —Entrackr

Linnovate Partners, Azara, Datarize, and more led last Friday’s headlines:

  • Linnovate Partners, a technology services company serving primarily the alternative investment industry, announced that it secured a USD 40 million commitment from SeaTown Private Capital Master Fund.
  • Azara AI, a Singapore-based startup, raised USD 1 million from various investors including Iterative VC, Dave McClure (500 Startups), Yohei Nakajima (Untapped Capital), and angel investors from Meta and Airbnb.
  • Datarize, a customer relationship management (CRM) marketing solutions provider in South Korea, wrapped up a Series B funding round, netting USD 11 million. Atinum Investment led the round, with participation from Stonebridge Ventures and Mirae Asset Ventures.

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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