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Prop tech startup MilikiRumah has launched a USD 50 million rent-to-own housing fund, achieving a first close of USD 10 million. Backed by Ruifeng Wea…

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Prop tech startup MilikiRumah has launched a USD 50 million rent-to-own housing fund, achieving a first close of USD 10 million. Backed by Ruifeng Wealth Management, Tembusu Partners, and Trigger Asset Management, along with angel investors, the four-year closed-end fund aims to deliver freehold homes to Indonesia's underbanked. It targets a 20% IRR and will focus on municipalities across Greater Jakarta.

<a href="/company/meituan">Meituan</a> is preparing to launch NoCode, an <a href="/industry/ai">AI</a> programming platform designed for non-technical users. Built by its R&amp;D efficiency team, NoCode enables dialog-based app creation with features like multi-step reasoning and automated deployment. Initially built for internal use, the tool marks Meituan’s first public-facing move to extend its AI strategy into productivity tools for merchants and general users.

Quantified Energy, a deep tech spinoff from SERIS at NUS, has closed an undisclosed Series A funding round led by Vertex Ventures SEAI. The company, which offers drone-based solar inspection technology, will use the funding to scale globally with a plug-and-play model for drone operators.

<a href="/company/tencent">Tencent</a> has launched Hunyuan-Game, a new platform that provides AI tools for game designers to rapidly generate concept art and 3D-ready assets from sketches or text prompts. Built on multimodal datasets and tailored for game development, Hunyuan-Game aims to significantly accelerate production workflows.

Tokyo-based Headline Asia has closed its fifth fund at USD 145 million to back early-stage tech startups across Japan, Taiwan, Southeast Asia, and selectively in South Korea. Backers include JIC, Taiwan’s NDF, South Korea’s KVIC, and SME Support Japan. The fund targets seed to Series A rounds in sectors such as e-commerce, fintech, AI, and logistics, and has already invested in 17 companies.

Leapmotor reported record Q1 2025 revenue of RMB 10.02 billion, up 187.1% YoY, as vehicle deliveries surged 162.1% to 87,552 units. Gross margin improved to 14.9%, supported by increased scale, cost controls, and a stronger product mix. Net loss narrowed to RMB 130 million from RMB 1.01 billion, with cash and equivalents totaling RMB 25.7 billion as of March 31.

Cainiao is expanding its logistics operations in the Americas to meet rising cross-border e-commerce demand. Parcel volume to Brazil surged 80% in April, while Mexico and the US recorded strong weekly growth in May. Recent upgrades include new distribution hubs in Los Angeles, New York, Miami, and Chicago, along with a three-day delivery service across Mexico.

Shares of Chinese battery giant CATL opened at HKD 296 in their Hong Kong debut, rising 12.5% from the IPO price of HKD 263. The listing raised USD 4.6 billion, making it the largest global IPO so far in 2025. As of 11 a.m. local time, the stock had edged up to HKD 298.8.

Biotechnology firm Phase Scientific has completed a USD 34 million Series A funding round led by a private equity fund managed by Value Partners Group, with support from undisclosed new and existing investors. The funds will be used to accelerate R&amp;D and commercialization of the company’s urine-based diagnostic technology, aimed at making early disease detection more accessible through at-home testing.

Qifu Technology reported Q1 2025 revenue of RMB 4.69 billion and non-GAAP net income of RMB 1.93 billion, up roughly 12.9% and 59.9% YoY, respectively. The company facilitated RMB 88.9 billion in loans across 24.4 million transactions. Nearly half of its lending volume now comes from capital-light models, with funding provided by partners through automated systems and third-party platforms.

<a href="/company/ant-group">Ant Group’s</a> international division generated nearly USD 3 billion in revenue in 2024 and recorded its second consecutive year of adjusted profit. Headquartered in Singapore, the unit is expanding across Southeast Asia through platforms such as Alipay+, Antom, WorldFirst, and other cross-border financial solutions.

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MilikiRumah launches rent-to-own housing fund

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