FB Pixel no scriptDeals in brief: Veda VC closes USD 30 million fund, four new Chinese deals, and more | KrASIA

Deals in brief: Veda VC closes USD 30 million fund, four new Chinese deals, and more

Written by Gideon Ng Published on   2 mins read

Bringing you the latest news briefs on fundraising activities in the Asia Pacific.

Veda VC closes early-stage tech investment fund at INR 2.5 billion

The Bangalore-headquartered early-stage venture capital fund has completed the first close of its fund at INR 2.5 billion (USD 30 million).

Through the new fund, Veda VC intends to allocate investments ranging between USD 250,000 and USD 1.25 million in technology and tech-enabled ventures spanning various sectors, including internet-based consumer applications, SaaS, fintech, and deeptech, focusing on early-stage investments ranging from seed to pre-Series A stages. —DealStreetAsia

ZEROG secures nine-figure RMB sum for eVTOL aircraft development

The China-based electric vertical takeoff and landing (eVTOL) aircraft developer has raised nearly RMB 100 million (USD 13.7 million) in a new round of strategic financing, led by Nanjing Communication Engineering Co Ltd.

ZEROG will utilize the funds for R&D and test flights of its flagship model ZG-T6, and for the mass production and airworthiness certification of other models. 36Kr

FreqX raises eight-figure RMB sum in Series A round

The Chinese machine diagnostics company has raised an eight-figure RMB sum of investment in a new funding round led by Yonghua Capital. FreqX will use the funds for product R&D, construction of its product line, and to expand into new markets. —36Kr

ECHINT secures RMB 1 billion in Series B round

The China-based advanced integrated circuit packaging and testing company has raised around RMB 1 billion (USD 137 million) from several investors in a Series B funding round. —DealStreetAsia

DP Technology raises USD 100 million in funding to advance scientific AI applications

The China-based artificial intelligence firm specializing in scientific applications has successfully secured USD 100 million in its latest funding round. —DealStreetAsia

Wiziin, Moge Micro Flow Technology, and Polar Bear Tech led yesterday’s headlines:

  • Wiziin, a Vietnam-based venture investment management platform, raised USD 500,000 in pre-seed funding from an undisclosed tech serial entrepreneur. The funding will accelerate Wiziin’s efforts in blockchain technology, aiming to disrupt traditional venture capital methods.
  • Moge Micro Flow Technology, a Chinese microreactor and flow production technology company, completed a new funding round with funding from Northern Light Venture Capital. The funds will be used to support R&D into nanomaterial products and the construction of the company’s production line.
  • Polar Bear Tech, a Chinese chip development company, raised over RMB 100 million (USD 13.7 million) in a new funding round led by Harvest Capital and Zhengwei Capital Investments. The funds will be used to further the company’s R&D efforts in developing next-generation chips.

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