Vietnam’s Be Group secures VND 739.5 billion
Be Group, the Vietnamese company behind local ride-hailing app Be, has secured VND 739.5 billion (USD 30.3 million) in funding from VPBank Securities, a unit of the Vietnam Prosperity Joint Stock Commercial Bank (VPBank).
VPBank Securities will hold a minority stake in Be Holdings, the parent company of Be Group, following the completion of this deal. It will also be the first institutional investor of the company.
Be is one of the major rivals of Singapore-based Grab, the ride-hailing market leader in Vietnam, as well as GoTo Group’s Gojek, which started serving the Vietnamese market several years ago.
According to Bloomberg, Be Group said it will use the newly raised funds to expand its ride, delivery, and digital financial services. It will also venture into new markets and segments of the consumer and transportation sectors.
Zendesk agrees to acquire Klaus
The customer service software provider has signed a definitive agreement to acquire Klaus, an artificial intelligence-powered quality management platform.
“As AI drives up the speed and frequency of customer engagement, only AI-powered quality assurance (QA) can keep up as companies work to identify and fix gaps in their customer service operations,” said Adrian McDermott, CTO of Zendesk. “The combination of Zendesk AI and Klaus’ capabilities will help businesses navigate greater complexity and volume and ensure both digital and human agents deliver highly personal and empathetic service.”
Atlinks acquires 5GenCare and Chillax
Atlinks Group, a Hong Kong-listed organization specializing in telecommunications products, has acquired 100% issued share capital of 5GenCare and Chillax.
5GenCare is a software development company that offers end-to-end internet-of-video-things (IoVT) solutions. Its solutions include firm, cloud connectivity software, and application software development services, among others. Chillax, comprising Chillax Care and Chillax Technology, is a parenting-focused technology company. Both companies will become indirect wholly-owned subsidiaries of Atlinks following the completion of the acquisitions.
According to a statement by Atlinks, the acquisitions are aimed at enhancing its market presence and to diversify its products and services, spurring growth and engaging customers.
“We are excited that the acquisitions align with [Atlinks’] strategic goal of innovative technology development. By leveraging on [the capabilities] of 5Gen Care, we can extend our product lines from the development and sale of telecommunication products and senior products to include video streaming on smart baby monitors for mobile devices in North American markets. These will become our long term new growth drivers,” said Tong Chi Hoi, CEO of Atlinks.
Recent deals completed in China:
- Robot Era, a Beijing-based technology company specializing in AI-driven humanoid robotics, has secured over RMB 100 million (USD 14 million) in an angel funding round led by Lenovo Capital and Incubator Group. The round also saw participation from Jinding Capital, Qingkong Tiancheng Asset Management, and existing investor Century Golden Resources Group. China Renaissance acted as the exclusive financial advisor for this round. Robot Era will use the funds primarily for R&D and to enhance its technology and talent. —36Kr
- Osemitech Micro Technology, a Hefei-headquartered company focused on the R&D of wireless system-on-a-chip (SoC) systems, has bagged close to RMB 100 million in a pre-Series A funding round led by Leaguer Capital with the support of Hefei Hi-tech VC and Beken. Lighthouse Capital was the appointed financial advisor. —36Kr
- Synvida, a biotechnology company focused on the fields of antibody drugs, nucleic acid drugs, and cell therapy, has banked close to RMB 200 million (USD 28.1 million) in a Series A funding round led by Lapam Capital. Existing investor Shanghai Healthcare Capital contributed to this round. Synvida will utilize the funds to advance its clinical research programs. —36Kr
- Hryz Bio Tech, a Shanghai-based biopharmaceutical company, has completed its Series C3 funding round, raising close to RMB 100 million from Goldport Capital, CSTC, and other institutional investors. —36Kr
- Feysh Technology, a Shanghai-based network security solutions provider, has secured an eight-figure RMB sum in a pre-Series A+ funding round led by Xiangcheng Financial Holdings. —36Kr
- Nolibox, an AI-generated content (AIGC) technology company, has raised an eight-figure RMB sum of Series A funding from Spinel Capital, Grip Capital, and various unnamed institutional investors. The company aims to concentrate on the commercialization of its solutions and further enhance collaboration with enterprise customers as part of its upcoming plans. —36Kr
- Vilion New Energy Technology, a Shenzhen-based developer of energy storage products and solutions, has secured an eight-figure RMB sum in pre-Series A funding from ZWC Partners. The company will use the funds for product R&D and market expansion. —36Kr
- TianCheng Aerospace (TCAE), a Xianyang-based titanium alloy materials manufacturer, has secured over RMB 600 million in a funding round from CCB Investment, ABC Capital Management, and China National Building Material’s New Materials Fund. —DealStreetAsia
- Sungrow Hydrogen, a wholly-owned subsidiary of solar inverter maker Sungrow Power Supply, has bagged RMB 660 million (USD 92.7 million) in a new funding round led by Legend Capital. The round saw the participation of GL Ventures, Eastern Bell Capital, China Merchants Venture Capital Management, and Howbuy FOF, among other investors. The funds will be utilized for overseas expansion. —DealStreetAsia
Latest deals in India:
- Grip Invest, a Gurugram-based alternative investment platform, has raised INR 820 million (USD 9.8 million) in a Series B funding round led by Stride Ventures. The funds were raised through a combination of debt and equity financing. The round saw participation from LC Nueva, Multiply Ventures, along with existing investors Venture Highway, Anicut Capital, and AdvantEdge. Grip Invest has outlined plans to utilize the funds for the development and distribution of products, enhancing consumer outreach, and scaling its technology stack. —VCCircle
- Ampa Orthodontics, the company behind dental care brand MakeO (stylized as “makeO”), has raised USD 16 million in a new funding round jointly led by 360 One Asset and the investment office of Ashish Kacholia. Existing investors Eight Roads Ventures, Paramark Ventures, and the family office of Prashant Singh and Tushar Kumar also participated in this round. The capital will be utilized to support MakeO’s expansion plans. —VCCircle
- Karkhana.io, a provider of B2B manufacturing solutions, has raised USD 6.3 million in a Series A funding round jointly led by Arkam Ventures and Susquehanna Asia Venture Capital. The round also saw participation from existing investor Vertex Ventures Southeast Asia and India. The funds will enable Karkhana to expand its supplier base, establish an electronics supply chain, and bolster its presence in Europe and the US. —VCCircle
- PierSight, a maritime surveillance solutions provider, has raised USD 6 million in a seed funding round jointly led by Alpha Wave Ventures and Elevation Capital. The round also saw participation from existing investor Techstars. —VCCircle
- MyMuse, an intimate wellness company, has raised USD 2.7 million in pre-Series A funding from multiple investors, including Saama Capital, Sauce.VC, Whiteboard Capital, Trifecta Capital, and Kunal Shah. The funds were raised using a mix of debt and equity financing, and will be used to strengthen MyMuse’s branding, expand its product portfolio, and scale its operations in India. —VCCircle
- Evify, a sustainability-focused logistics and delivery company, has secured USD 1.3 million in a pre-Series A funding round jointly led by GVFL and Piper Serica. The company intends to use the funds to expand its electric vehicle fleet and develop an in-house technology platform. —VCCircle
- Unirec, a sustainability-focused apparel brand, has raised USD 190,000 in seed funding from BeyondSeed. It will utilize the funds for R&D and market expansion. —VCCircle
- Impact Analytics, a provider of AI-powered retail solutions, has raised USD 40 million in a round of financing led by Sageview Capital with the support of existing investor Vistara Growth. The company will allocate the capital toward the expansion of its sales, marketing, and customer service teams, and to expand its footprint by scaling its technology capabilities, deepening partnerships, and tapping into growth opportunities. —Inc42
Atome, Asia Partners, Cult Creative, and more led yesterday’s headlines:
- Atome, a Singapore-based fintech company, raised USD 31 million from Advance Intelligence Group, its parent company, as a result of internal share conversions between the group and its business units.
- Asia Partners, a Singapore-based equity investment firm, announced the final close of its second fund at USD 474 million in commitments.
- Cult Creative, a Malaysian creator-focused platform, secured MYR 500,000 (USD 107,600) in seed funding from The Hive Southeast Asia.
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