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<h3>Protos Labs secures SGD 3 million in seed funding, eyes regional growth</h3>
Singapore-based cyber risk management startup <a href="https://www.protoslabs.sg/">Protos Labs</a> just scored SGD 3 million (USD 2.3 million) in an oversubscribed seed funding round, according to e27. The startup drew interest from a diverse group of investors including A2D Ventures, Beenext, VinaCapital, Artem Ventures (in partnership with FWD Insurance), Plug and Play Silicon Valley, Investible, Gan Konsulindo, 1337 Ventures, and Gobi Partners.
With this fresh injection of capital, Protos Labs is gearing up to accelerate its regional expansion and double down on product development. The startup is carving out a niche at the intersection of insurance and cybersecurity. Its artificial intelligence-driven platform is designed to help businesses and insurers not just mitigate cyber risks but also price them more accurately.
Protos Labs’ sister company, Protos Cover, offers cyber insurance directly to businesses in Singapore—a move that complements its core tech offering.
<h3>Honor gets a boost from China Mobile as IPO looms</h3>
Honor, the smartphone brand that spun off from Huawei, is getting ready for its IPO with a little help from a heavyweight: China Mobile’s parent company. While the investment amount hasn’t been disclosed, this deal—first reported by Reuters—signals that China Mobile sees strategic value in teaming up with Honor as the brand gears up for its public debut.
Honor has been on a roll, backed by substantial support from Shenzhen’s government, including funding for R&amp;D and tax incentives. The smartphone maker, which announced its IPO plans last November, has kept quiet on the specifics, but the partnership with China Mobile is expected to be a significant lever as Honor continues to build out its product portfolio and tap into China Mobile’s extensive user base.
<h3>Laiqa Wellness lands INR 150 million to shake up women’s health</h3>
Gurgaon-based <a href="https://mylaiqa.com/">Laiqa Wellness</a> is on a mission to transform women’s health, and it just got a serious vote of confidence. The female tech startup has secured INR 150 million (USD 1.8 million) in seed funding from IvyCap Ventures, which it plans to funnel into expanding its tech-based hormonal health solutions.
Laiqa is pioneering a new approach to women’s wellness by addressing hormonal imbalances through personalized care that syncs with each woman’s menstrual cycle. Its app is at the heart of this, offering insights and recommendations tailored to a woman’s unique hormonal pattern—think modern science meets Ayurveda.
<h3>Melbourne Capital Group deepens roots in Malaysia with latest acquisition</h3>
Melbourne Capital Group (MCG), a private wealth management firm in the Asia Pacific region, has made a strategic move into Malaysia by acquiring a wealth management firm formerly known as Blueprint Planning.
This acquisition includes the company’s capital markets service license (CMSL), allowing MCG to offer a broader range of financial planning services to Malaysian clients.
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<h3>BrightChamps, SurplusLoop, EngineAI, and more led yesterday’s headlines:</h3>
<ul>
<li aria-level="1"><a href="https://brightchamps.com/">BrightChamps</a>, an edtech company, acquired and rebranded Vietnam’s leading English communications platform, Schola, as BrightChamps Vietnam.</li>
<li aria-level="1"><a href="https://surplusloop.com/">SurplusLoop</a>, a Malaysian startup specializing in surplus asset management for asset-heavy industries, raised USD 110,000 in pre-seed funding from Antler.</li>
<li aria-level="1"><a href="https://en.engineai.com.cn/">EngineAI</a>, a startup focused on the development of humanoid robots, secured nearly RMB 100 million (USD 14 million) across two angel funding rounds. The initial round was led by SenseCapital, with participation from Hefei Binhu Financial Investment. Highlight Capital led the round extension, joined by Xunsheng Capital and Hefei Binhu Financial Investment.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Protos Labs completes seed round, Honor gets funding boost from China Mobile, Laiqa Wellness lands INR 150 million, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Malaysia

Southeast Asia

China

India

Oceania

… many things would remain confidential.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2915561647987589">article</a> was written by Han Yongchang for 36Kr.

Transcript: BYD shifts gears to intelligent driving in bid to lead the automotive future

Autonomous Vehicles

Electric Vehicles

Batteries

Mobility

… urgent need for digital and intelligent transformation in maritime operations. Eight Knot's strength lies in integrating advanced technologies: drivers simply specify a destination as they would with a car navigation system, and AI automatically selects the optimal route, guiding and docking the vessel precisely.
<figure id="attachment_149705" aria-describedby="caption-attachment-149705" style="width: 640px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-149705" src="https://console.kr-asia.com/wp-content/uploads/2024/08/Eight-Knot-1024x608.png" alt="" width="640" height="380" srcset="https://console.kr-asia.com/wp-content/uploads/2024/08/Eight-Knot-1024x608.png 1024w, https://console.kr-asia.com/wp-content/uploads/2024/08/Eight-Knot-300x178.png 300w, https://console.kr-asia.com/wp-content/uploads/2024/08/Eight-Knot-768x456.png 768w, https://console.kr-asia.com/wp-content/uploads/2024/08/Eight-Knot-1536x912.png 1536w, https://console.kr-asia.com/wp-content/uploads/2024/08/Eight-Knot.png 1999w" sizes="(max-width: 640px) 100vw, 640px" /><figcaption id="caption-attachment-149705" class="wp-caption-text">Image source: Eight Knot.</figcaption></figure>
Targeting the North American yacht market first, the company has identified that most boat owners find operating their vessels burdensome and are willing to pay a premium for automated features.
Despite facing multiple challenges in expanding internationally—such as conducting field user research in North America and building partnerships with key local companies—Eight Knot has received swift support from local administrative bodies and government agencies like JETRO, facilitating progress in its overseas business.
<h3>KanonCure</h3>
A regenerative medicine company incubated at Tottori University and founded in 2016, <a href="https://kanoncure.com/english/index.html">KanonCure</a> is pioneering the development of cell sheets to treat liver diseases. Utilizing a technology that cultivates human bone marrow cells and transforms them into liver cells, this method holds promise as an effective treatment for severe liver disease patients who have no options other than transplant surgery.
<figure id="attachment_149708" aria-describedby="caption-attachment-149708" style="width: 640px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-149708" src="https://console.kr-asia.com/wp-content/uploads/2024/08/Kansai-Startup-Pitch-2024-KanonCure-1024x583.jpg" alt="Photo of Goshi Shiota, president and CEO of KanonCure, speaking at the “Kansai Startup Night Vol.6” event." width="640" height="365" srcset="https://console.kr-asia.com/wp-content/uploads/2024/08/Kansai-Startup-Pitch-2024-KanonCure-1024x583.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/08/Kansai-Startup-Pitch-2024-KanonCure-300x171.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2024/08/Kansai-Startup-Pitch-2024-KanonCure-768x438.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2024/08/Kansai-Startup-Pitch-2024-KanonCure-1536x875.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2024/08/Kansai-Startup-Pitch-2024-KanonCure.jpg 1999w" sizes="(max-width: 640px) 100vw, 640px" /><figcaption id="caption-attachment-149708" class="wp-caption-text">Photo of Goshi Shiota, president and CEO of KanonCure, speaking at the “Kansai Startup Night Vol.6” event. Photo courtesy of Kansai Startup Ecosystem.</figcaption></figure>
According to Goshi Shiota, founder of KanonCure, Japan currently has about 130,000 cirrhosis patients, with up to 2,500 requiring liver transplants annually. However, only around 500 patients receive transplants each year. Many patients unable to undergo transplant surgery face death, with nearly 17,000 dying from liver diseases annually in Japan alone. Globally, approximately one million people die from cirrhosis each year, with particularly high numbers in China, India, Indonesia, and Mongolia, underscoring the significance of this research.
To accelerate the practical application of cell sheets, KanonCure is seeking broad domestic and international partners for technical and commercialization support. The company is currently conducting basic research with an Australian firm. KanonCure is in the final critical stage of preclinical trials and, if successful, will advance to clinical trials.
<figure id="attachment_149706" aria-describedby="caption-attachment-149706" style="width: 640px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-149706" src="https://console.kr-asia.com/wp-content/uploads/2024/08/Kansai-Startup-Pitch-2024-Networking-1024x767.jpg" alt="" width="640" height="479" srcset="https://console.kr-asia.com/wp-content/uploads/2024/08/Kansai-Startup-Pitch-2024-Networking-1024x767.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/08/Kansai-Startup-Pitch-2024-Networking-300x225.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2024/08/Kansai-Startup-Pitch-2024-Networking-768x575.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2024/08/Kansai-Startup-Pitch-2024-Networking-1536x1151.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2024/08/Kansai-Startup-Pitch-2024-Networking.jpg 1706w" sizes="(max-width: 640px) 100vw, 640px" /><figcaption id="caption-attachment-149706" class="wp-caption-text">Photo courtesy of Kansai Startup Ecosystem.</figcaption></figure>
With less than nine months till Expo 2025, curiosity is high about Kansai's startup ecosystem: Will the region produce Japan's next unicorn?
With a potent mix of innovation, support, and ambition, the ingredients are certainly there. Tomo Izumi, director of public affairs strategy at For Startups, concurs, having noted significant growth in both the quality and quantity of Kansai's deep tech startups over the past few years. If the current trajectory holds, the future of Kansai's startups looks to be a bright one.
For more details about Kansai’s startup ecosystem, visit its official website <a href="https://en.kansai-startup-ecosystem.com/">here</a>.
<a href="https://36kr.jp/">36Kr Japan</a>, KrASIA’s sister company in Japan, is a media partner of ”Kansai Startup Night Vol. 6.”

Kansai’s startup scene takes quantum leap ahead of Expo 2025

Japan

On August 21, Avatr introduced "Kunlun," its new range extender technology, alongside plans to launch a lineup of new pure electric and range-extended electric vehicles (REEVs) by year’s end.
According to its roadmap, Avatr plans to debut a mid-sized SUV, the Avatr 07, in the fourth quarter, offering both pure electric and range-extended powertrain options. As its third electric vehicle model, the Avatr 07 is set to hit the market this year, with deliveries expected by year-end. Additionally, range-extended versions of the Avatr 11 and 12 will also soon be available.
Avatr has laid out ambitious plans to expand its portfolio over the next three years, aiming to introduce sedans, mid- to large-sized five-seaters, large six-seaters, sports cars, and MPVs.
Kunlun will make its debut in the Avatr 07, with the goal of making the driving experience of REEVs indistinguishable from that of pure EVs.
Traditional REEVs often suffer significant power loss when the battery is low, impacting performance in demanding situations such as highway driving or climbing steep hills. To counter this, Avatr, in collaboration with Contemporary Amperex Technology (CATL), developed the 39-kilowatt-hour Shenxing battery, which reportedly maintains a peak discharge rate of 7.7C even at low battery levels, compared to 9C when fully charged. Even with low power, the Avatr 07's range-extended model can still accelerate from 0 to 100 km/h in just 5.8 seconds.
Noise, particularly at low speeds or while idling, is another drawback of traditional REEVs. Avatr addresses this with its HE 1.5T turbocharged engine, equipped with electronic oil pump technology and active piston control, which reduces cabin noise to just 35.7 decibels during idle charging.
Avatr also highlighted the efficiency of its turbocharged engine, emphasizing its thermal efficiency and fuel-to-electric conversion. Since the engine isn’t required to drive the vehicle directly, it features a smaller cylinder diameter compared to traditional engines of similar displacement. With enhanced fuel injection pressure and spark plug energy, thermal efficiency can reach 44.39%, allowing one liter of fuel to generate 3.63 kWh of electricity, significantly reducing fuel consumption.
In terms of recharging efficiency, Avatr’s REEVs are closing the gap with pure EV models. The Shenxing battery can charge from 30% to 80% in just 15 minutes, boasting a peak charging rate of 3C.
This year’s sales figures suggest that Avatr needs range-extended models to drive growth. Previously, Avatr’s lineup included the Avatr 11 and 12, both pure EVs priced between RMB 250,000–400,000 (USD 35,080–56,130).
Despite backing from Huawei’s smart technology and CATL, the high-end pure EV market has been sluggish. In the first half of this year, Avatr sold only 29,030 units, with July sales remaining tepid at just 3,625 units.
With the introduction of range-extender technology, Avatr expects the new models to be more competitively priced. For example, the Avatr 12 range-extended version is expected to be priced between RMB 200,000–300,000 (USD 28,065–42,100).
While lowering the entry barrier with range-extended models, Avatr continues to maintain its luxury brand image through exclusive collaborations. On August 21, Avatr launched a limited edition Avatr 12 in partnership with Dior and Fendi’s artistic director Kim Jones, priced at RMB 700,000 (USD 98,225) with a global limit of 700 units. A top-tier “Royal Theater” version of the Avatr 11 and 12 will also be offered, priced at RMB 450,000 (USD 63,145).
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2916703897656196">article</a> was written by Li Anqi for 36Kr.

Avatr to debut Kunlun range extender tech with new SUV in Q4 2024

Young Japanese companies are struggling to continuously expand their revenues compared with their peers in the US and Europe, partially owing to their significant lack of access to capital needed for growth, a Nikkei analysis shows.
Over the past five years, sales grew at an annual rate of 3.5% at Japanese companies listed for six to 10 years, less than half the rate at American and European companies. The growth rate of young Japanese companies was also slower than their older domestic counterparts who have been listed for 11 years and longer.
Many <a title="" href="https://asia.nikkei.com/Business/Startups" target="_blank" rel="noopener">startups</a> at their initial stage experience the hardship of launching products and services and chalking up profit from them, which is called the "first death valley" in the startup community. After weathering the first one, however, startups in Japan face the "second death valley" as their growth comes to a halt for failure in post-listing fundraising.
Behind the phenomenon is the shortage of investors who can take the risk of providing funds to unlisted companies, forcing Japanese startups to seek going public at an early stage. But if they get listed with small businesses, pension funds and other risk-sensitive investors stay away from them.
Mitsuo Okada, CEO of cybersecurity company Capy, is making preparations to bring its registry back to the US where he founded it, citing that the company cannot foresee its future "if we get listed in Japan." While the number of investors and their funding resources in the US are overwhelmingly larger than in Japan, there is a culture that tolerates startups to make losses from bold investment, he said.
It is evident in the following set of examples showing clear differences between Japanese and American startups.
Japanese online marketplace Mercari went public in 2018, six years after foundation, for investment in the US and other purposes. But the company has failed to turn around its US operations and its market capitalization shrunk to around JPY 330 billion (USD 2.2 billion), down from a peak of more than JPY 1 trillion (USD 6.7 billion). Faced with the difficulty of making additional investment in the US, the company laid off a considerable number of employees from its US subsidiary in June.
In contrast, US-based private lodging operator Airbnb avoided an <a title="" href="https://asia.nikkei.com/Business/Markets/IPO" target="_blank" rel="noopener">IPO</a> for 12 years after it was founded in 2008. The option was possible because venture capitalists provided the company with funds for growth out of capital from investors such as pension funds. Airbnb was able to make upfront investment overseas and establish the foundation of growth without pressure from shareholders with low risk comfort. The company's market capitalization has increased to over USD 70 billion.
In the US, listed companies' active returns of surplus capital to shareholders also serve as a bridge for the flow of funds from mature listed companies to unlisted firms with room for growth.
American listed companies with excess liquidity carried out share buybacks and dividend payments totaling USD 8 trillion over the past five years in response to shareholders' demand for an improvement in the efficiency of capital, while raising only USD 870 billion through share issues. On a net basis, listed companies are passing capital back to investors. Redeemed funds are reallocated to unlisted companies through investment by venture capitalists and in private equities. The amount of such investment over the past five years totaled USD 3 trillion, equal to 42% of net profit logged by listed companies.
"As Japan is in the process of change from the financial system featuring banks' supply of funds, investment in privately owned businesses by pension funds and others has just started," said Hideaki Miyajima, professor of commerce at Waseda University. The emerging practice will "take 20 years before taking hold," he said.
There are signs of such a change as asset management companies are developing trusts for investment in both unlisted and listed companies. "We will fill the split between unlisted and listed companies," said Yoshiharu Takeda, head of the product management department at Sumitomo Mitsui DS Asset Management.
Startups welcome the recent policy trend, too. Hiroto Yamazaki, CEO of Umami United Japan engaging in the development of plant-based egg powder, said "fundraising has become easier thanks to the government's five-year plan to foster startups."
Japan's mature listed companies have ample money as on-hand funds have grown to a record level. If the reallocation of surplus funds to younger startups takes hold, Japan's economic metabolism will make strides.
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Spotlight/Datawatch/Japan-s-startups-struggle-to-grow-past-2nd-death-valley" rel="noopener noreferrer" data-token-index="1">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing <a tabindex="0" href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" rel="noopener noreferrer" data-token-index="3">partnership with Nikkei</a>.

Japan's startups struggle to grow past "second death valley"

… valuations are impossible in the current market environment. An acquisition would only be feasible at a PB ratio of about 0.3 to 0.5.”
In comparison, Tongwei’s valuation for Runergy is notably higher.
An industry insider told 36Kr that, as of March 2023, Runergy's net assets were valued at RMB 5.64 billion (USD 791.1 million). Tongwei’s offer of up to RMB 5 billion for a 51% stake corresponds to a PB ratio of approximately 0.9. By contrast, Longi currently trades at a PB ratio of 1.54, and JA Solar at 1.01.
Why is Tongwei willing to offer a relatively high valuation? The M&amp;A expert suggests that this reflects the difference between industrial capital and financial capital. Industrial capital tends to consider factors such as industry status and synergy, which might justify a higher valuation.
However, Chinese solar companies, including industry leaders, face ongoing cash flow challenges. In June, JinkoSolar’s vice president, Qian Jing, told the media that few solar companies can continue burning cash for another three quarters. “Maintaining cash flow is crucial for solar companies to survive the cycle,” Qian said.
Li also pointed out that few industry leaders have the resources for acquisitions, and those that do have limited funds. Therefore, if a large wave of M&amp;A does occur in the solar industry, external capital is likely to play a significant role.
The third-party analyst echoed this sentiment, suggesting that, as more solar companies encounter difficulties, valuable assets could be “harvested” by external capital. “As solar companies face ongoing challenges, state-owned or central enterprises might step in next year,” the analyst said.
It’s worth noting that media outlets often view industry mergers and consolidations as positive indicators of a market bottom. However, secondary market investors have been less optimistic. The day after Tongwei’s announcement, the solar ETF showed only a flat performance.
A private equity investor commented that, from an industry perspective, M&amp;As might be less beneficial than allowing companies to go bankrupt, as this would enable the market to clear more effectively. “For the industry, acquisitions are a short-term negative because capacity that would have been phased out or reduced will regain vitality through mergers, leading to an oversupply.”
Ultimately, given the severe supply-demand imbalance in the solar industry, the market, the valuations of acquired assets, and buyers' prospects, along with the overall solar industry, will only regain momentum when the sector hits a turning point and begins to rebound.
The stark difference between sellers' asking prices at two times PB and buyers' offers at 0.3 times PB highlights the significant disagreement on when that turning point might occur.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2912092188121728">article</a> was written by Wang Fangyu for 36Kr.

Tongwei’s bold move to acquire Runergy: The start of a solar industry shakeup?

Deep Tech

Energy

Climate

… Chinese companies in related fields. Zhang Rong, president of Westwell, highlighted the company’s expansion into the local market, starting from Khalifa Port. Westwell specializes in using AI to develop autonomous driving solutions.
During the forum, the Dubai Chamber of Commerce announced the signing of memorandums of understanding with the China Council for the Promotion of International Trade (Beijing) and major Chinese commercial banks, including Bank of China, Industrial and Commercial Bank of China (ICBC), and China Construction Bank (CCB). These agreements aim to strengthen ties, deepen business cooperation, and actively explore new ways to promote trade and investment and enhance market exchanges.
The Dubai Business Forum in China is the first in a series of major international forums organized by the Dubai Chamber of Commerce. Looking ahead, this series will continue to be held in major financial and commercial centers worldwide, helping enterprises and investors explore opportunities under Dubai's D33 economic agenda.
36Kr Global is the official recruitment channel for Dubai Business Forum (China).
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Dubai Business Forum in Beijing underscores growing China-UAE ties amid D33 agenda push

Middle East

<h3>BrightChamps acquires Schola, rebrands as BrightChamps Vietnam</h3>
<a href="https://brightchamps.com/">BrightChamps</a>, an edtech company, has rebranded Vietnam’s leading English communications platform, Schola, as BrightChamps Vietnam following its acquisition.
With Vietnam being the company’s second largest global market, BrightChamps plans to invest close to USD 10 million in the country over the next two years. The investment will support the expansion from four centers in Ho Chi Minh City to 20 offline hubs across Hanoi and Ho Chi Minh City by May 2026.
BrightChamps Vietnam will aim to integrate future-ready skills into Vietnam's educational system while offering scholarships to deserving students. The platform, which originally made its mark with English language classes, will now offer courses in entrepreneurship, artificial intelligence, coding, financial literacy, robotics, and more, aligning with the local push to incorporate technology into classrooms.
<h3>SurplusLoop raises USD 110,000 in pre-seed round</h3>
<a href="https://surplusloop.com/">SurplusLoop</a>, a Malaysian startup specializing in surplus asset management for asset-heavy industries, has raised USD 110,000 in pre-seed funding from Antler, according to a report by e27. The funds will be directed toward developing the first iteration of its minimum viable product and validating the solution with pilot partners.
SurplusLoop addresses the challenges of liquidating surplus assets in industries such as construction, manufacturing, and hospitality by using predictive analytics and machine learning to connect buyers and sellers. The platform aims to turn surplus assets into liquidity, contributing to the circular economy by extending the lifecycle of these assets and reducing waste.
<h3>Hatcher+ and Mandalay Venture Partners join forces to back agritech innovation</h3>
Singapore-based venture capital firm Hatcher+ has partnered with Australia’s Mandalay Venture Partners to support startups transforming the agritech and food industries, according to DealStreetAsia. The collaboration aims to foster innovation across the food supply chain, from on-farm technologies to point-of-sale advancements.
The partnership’s first investment is in Cropify, an Australian agritech startup that uses AI and machine learning to provide precise, repeatable grain and pulse grading. Cropify’s technology not only improves grading processes for growers and marketers but also supports sustainability by reducing carbon emissions and plastic use.
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<h3>Recent deals completed in China:</h3>
<ul>
<li aria-level="1"><a href="https://en.engineai.com.cn/">EngineAI</a>, a startup focused on the development of humanoid robots, has secured nearly RMB 100 million (USD 14 million) across two angel funding rounds. The initial round was led by SenseCapital, with participation from Hefei Binhu Financial Investment. Highlight Capital led the round extension, joined by Xunsheng Capital and Hefei Binhu Financial Investment. Founded in October 2023 by Zhao Tongyang, a former leader of Xpeng Motors’ robotics division, the company plans to channel the new funds into product development and scaling its operations. —<a href="https://36kr.com/p/2895330563529609">36Kr</a></li>
<li aria-level="1"><a href="https://www.function.cn/">Function</a>, a marine biotechnology firm headquartered in Qingdao, has raised RMB 75 million (USD 10.5 million) in a financing round. ADATA Technology led the round, with continued backing from Cathay Capital. —<a href="https://36kr.com/p/2925190153689736">36Kr</a></li>
<li aria-level="1"><a href="http://www.sanbroc.com/">SanHerb Biotech</a>, a Chengdu-based provider of natural plant-based ingredients, has completed its angel round of financing, led by Ronghan Fund. The fresh capital will support the expansion of its product line. —<a href="https://36kr.com/newsflashes/2924156847250304">36Kr</a></li>
<li aria-level="1">ET Microelectronics, a developer of system-on-a-chip (SoC) products, has raised new funding from Juxin Development. Based in Chengdu, the company focuses on applications in industrial photovoltaics, energy storage, and electric vehicles. —<a href="https://36kr.com/newsflashes/2924156263259011">36Kr</a></li>
<li aria-level="1"><a href="https://www.neurogin.com/">Neurogin</a>, a Chengdu-based company specializing in neuroscience, has secured tens of millions of RMB in a pre-Series A funding round led by a medical fund under Green Pine Capital Partners. The investment will be directed toward Neurogin’s market entry and the R&amp;D of perioperative brain function monitoring and new neuroregulation products. —<a href="https://36kr.com/newsflashes/2924155628280453">36Kr</a></li>
<li aria-level="1"><a href="https://www.intellicube.tech/">IntelliCube</a>, a Chengdu-based company developing radiofrequency and microwave systems, has raised close to RMB 10 million (USD 1.4 million) in a pre-Series A+ funding round led by Huaxi Securities. —<a href="https://36kr.com/p/2924054043417474">36Kr</a></li>
</ul>
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<h3>Dat Bike, SeaTown, Dreame, and more led yesterday’s headlines:</h3>
<ul>
<li aria-level="1"><a href="https://dat.bike/en">Dat Bike</a>, a Vietnamese electric motorbike maker, received a USD 4 million convertible loan from InfraCo Asia.</li>
<li aria-level="1">SeaTown Holdings International, the private credit arm of Singapore’s Temasek Holdings, has pulled in USD 1.3 billion for its second private credit fund.</li>
<li aria-level="1">Dreame Technology, known for its smart cleaning gadgets, launched Empyrean Venture, its new corporate venture capital (CVC) arm.</li>
</ul>
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Beijing's Economic-Technological Development Area (E-Town) is fast becoming a significant center for robotics and artificial intelligence innovation, marked by the opening of Robot World, said to be the city's first comprehensive robot exhibition center. This development is part of broader efforts to establish Beijing as a global leader in the robotics industry.
Nestled within the Beijing Robot Industry Park, Robot World officially opened during the World Robot Conference 2024. The exhibition center, designed to showcase the latest robotic technologies, features nine major application scenarios, including those for manufacturing, healthcare, and AI. Among the standouts are handling robots and arc welding robots revolutionizing automotive manufacturing, logistics robots streamlining warehouse operations, and surgical robots enhancing precision in medical procedures.
The creation of Robot World aligns with E-Town's strategic vision to cultivate a unified ecosystem for the robotics industry. The area has attracted a diverse range of enterprises across the robotics supply chain—such as UBTech Robotics, Lingzu Times, and Tsino-Dynatron—fostering a collaborative environment ripe for innovation.
Supporting E-Town’s rise as a robotics hub is a robust infrastructure, including high-performance computing platforms and specialized incubation centers. The Beijing Artificial Intelligence Data Training Base, for example, provides essential resources for companies developing advanced AI models, reinforcing the district’s ambition to become a leading center for AI and robotics. Complementing these efforts are facilities like the National Robot Testing and Evaluation Center and the Beijing Embodied Intelligence Robot Innovation Center, both of which offer vital services in testing, certification, and R&amp;D.
The <a href="https://docs.google.com/document/d/1CM2uiodw55n9xBqAgjVddYPDWgkmYxh3lfej7NxdiGg/edit#">2024 World Robot Conference</a>, hosted in E-Town, further underscored the district's burgeoning role as a global nexus for robotics innovation. The event featured several key announcements from local companies, showcasing the practical applications of the technologies highlighted at Robot World.
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A standout moment at the conference was the unveiling of the "Tiangong" humanoid robot, developed by the Beijing Embodied Intelligence Robot Innovation Center. This robot, which had previously made waves for achieving a stable running speed of 6 kilometers per hour, now boasts enhanced capabilities, including interactive object handling based on voice commands. This advancement is a testament to the cutting-edge work in predictive reinforcement learning and large model training taking place within E-Town.
Other significant announcements included the introduction of AI-powered surgical robots like Longwood Valley MedTech’s "ROPA," which delivers sub-millimeter precision in orthopedic surgeries, and progress in soft robotics, a field traditionally fraught with challenges in industrial applications. These developments highlight E-Town's ongoing commitment to advancing robotics technologies with broad sectoral applications.
E-Town's growth strategy, encapsulated in its "Five Ones" framework—one park, one batch of platforms, one center, one fund, and one group of talents—aims to accelerate the district's robotics industry by concentrating resources and driving innovation. Currently, over 100 robotics companies are operating within E-Town, contributing to roughly half of Beijing's robotics output.
Looking forward, Beijing E-Town intends to continue expanding its robotics ecosystem, focusing on integrating emerging technologies, enhancing industry collaboration, and attracting top talent to sustain its competitive edge.

Beijing E-Town debuts Robot World, cementing its robotics ambitions