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36Kr (EN)

Consumer

Robotics

Fintech

<h3>Augmentus raises USD 11 million to scale no-code robotics platform</h3>
<a href="https://www.augmentus.tech/">Augmentus</a>, a Singapore-based developer of no-code robotics systems, has secured USD 11 million in a Series A+ funding round to accelerate product deployment and expand its technology capabilities. The round was led by Woori Venture Partners, with participation from new investor EDBI and existing backers Sierra Ventures and Cocoon Capital.
Founded to address the complexity of traditional robot programming, Augmentus provides manufacturing firms, particularly those in high-mix production environments, with the tools to automate tasks like surface finishing and welding without the need for code. Its platform integrates industrial 3D scanning, path planning, and adaptive motion control, enabling rapid task setup and execution on factory floors.
The fresh capital will support commercial rollouts in key markets including the US, Germany, and Southeast Asia. It will also allow Augmentus to deepen collaborations with system integrators.
The company is concurrently developing a new class of “augmented robotics” designed to adapt to real-time variations in manufacturing settings. CEO Daryl Lim said the funding will help the company scale fulfillment while continuing to address technically challenging automation use cases such as surface finishing and material removal under high-variability conditions.
<h3>Coda to acquire Recharge, expanding global digital content footprint</h3>
Coda, a Singapore-based digital monetization platform, has agreed to acquire Amsterdam-based Recharge, a major player in Europe’s prepaid payments space. The acquisition brings together two regional leaders and significantly enhances Coda’s global reach in digital content services.
Coda partners with major gaming publishers including Riot Games and Electronic Arts, while Recharge operates popular prepaid storefronts like Startselect across Europe. By combining operations, Coda gains a wider inventory of gift cards, telecom products, and lifestyle services. Recharge, in turn, will benefit from Coda’s B2B infrastructure and direct links to digital content publishers.
The deal is positioned to strengthen Coda’s consumer-facing channels and deepen its engagement with content providers worldwide.
<h3>Origgin Capital launches SGD 30 million fund to scale university spinoffs</h3>
Origgin Capital, the investment arm of Origgin Ventures, has launched a second fund targeting SGD 30 million (USD 23.3 million) to back university spinoffs across Asia. The fund aims to support up to 50 early-stage deep tech startups in areas such as advanced engineering, medtech, infocommunication tech, and sustainability.
Using a co-creation model, Origgin partners with universities and researchers to spin off companies based on promising IP. Its alliances with Tusstar and Jinan Xianxing provide startups with access to industrial ecosystems and supply chains in China.
<h3>Geniebook pushes into hybrid learning with two acquisitions</h3>
Geniebook, a Singapore-based edtech firm, has acquired AfterSkool and Best Physics Tuition, per <a href="https://e27.co/geniebook-acquisition-20250710/">e27</a>, signaling a move to blend artificial intelligence-driven online learning with physical education centers. The acquisitions are part of the company’s broader push into hybrid learning formats that align with evolving demands from students and parents.
Geniebook provides personalized digital worksheets, real-time support, and live classes. Founded in 2017, the company now operates seven physical centers in Singapore and plans to expand further. It serves students across Malaysia, Indonesia, Vietnam, and China, and is backed by East Ventures, Apricot Capital, and Lightspeed Venture Partners.
<h3>Brainfish secures USD 6.4 million to expand AI-powered customer support</h3>
Brainfish, an Australian startup offering tech-enabled customer support, has secured USD 6.4 million in a pre-Series A funding round led by Prosus Ventures. Existing investors Surge (by Peak XV Partners) and Macdoch Ventures also joined the round.
Brainfish offers an AI platform that delivers real-time, context-aware support within digital products. Using computer vision, it identifies user friction and provides instant in-app assistance without requiring support tickets.
Founded in 2022, the company has clients ranging from early-stage startups to public companies. With the new funding, Brainfish plans to expand its US team and scale infrastructure to meet demand for embedded customer support solutions.
<h3>Fire AI raises funding to develop conversational analytics platform</h3>
Fire AI, a New Delhi-based startup building an AI-powered business intelligence platform, has raised an undisclosed sum in a pre-seed round led by Venture Catalysts. Angel investors Gaurav Khatri (Noise) and Amit Kumar Singh also participated.
The company’s platform aims to simplify the full analytics lifecycle—from ad hoc queries to predictive modeling—using conversational interfaces and automation. Fire AI intends to use the funds to grow its team, refine its product, and strengthen its position in India’s competitive analytics market.
whereAdBanner.Uptake
<h3>Recent deals completed in China:</h3>
<ul>
<li aria-level="1"><a href="https://www.kun.global/">Kun</a>, a stablecoin payment and embedded finance platform, has raised over USD 50 million to date, with the latest Series A funding round significantly oversubscribed. BAI Capital and GSR Ventures returned as investors, alongside new backers including Eternium Global and an undisclosed Hong Kong-listed industrial company. The company will use the funds to advance its payment network and financial infrastructure. —<a href="https://36kr.com/p/3382458449639680">36Kr</a></li>
<li aria-level="1">Yanshan Technology, a micro LED chip developer, has raised nearly RMB 100 million (USD 14 million) in a pre-Series A funding round backed by SCGC, Ivy Capital, Moganshan Fund, and Lenovo Capital. Chuang House Capital acted as the financial advisor. The proceeds will support product development and mass production. —<a href="https://36kr.com/p/3381339007855363">36Kr</a></li>
<li aria-level="1"><a href="https://www.link-touch.com/">Link-Touch</a>, a robotics force sensor startup, has raised nearly RMB 100 million in a Series B funding round. The investors include GF Xinde Investment, Fosun Capital, Hefei Innovation Investment, and Huacang Capital. The funding will go toward product R&amp;D, overseas expansion, and talent acquisition. —<a href="https://36kr.com/p/3381031938352899">36Kr</a></li>
<li aria-level="1"><a href="https://zhongshuruizhi.com/">China SmartData</a>, an AI

Deals in brief: Augmentus raises Series A+ funding, Coda to acquire Recharge, Origgin Capital debuts second fund, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Australia

Southeast Asia

China

India

Europe

Oceania

… consumer demand," wrote Armand Meyer and Agatha Kratz from Rhodium Group.
After ratcheting up tariffs on all Chinese goods to as high as 145% in April, the US slashed the rate the following month to 30% for 90 days amid ongoing negotiations with China. That is still significantly higher than existing levies on most other countries, which are subject to 10% duties.
At an exhibition organized by the Indonesian Petroleum Association, Kevin Jiang, a manager from Tianjin Victory Oilfield Equipment Manufacturing told Nikkei that the company is actively seeking to reduce reliance on US demand that makes up half of its buyers.
"Trump's tariff policy has forced the company to look for potential new markets," Jiang said. "Indonesia with its potential natural resources is a promising market for the company."
Rene De Jong, owner of Resysta AV, an outdoor furniture maker, said he does not expect Trump to roll back existing tariffs on China. With factories in Guangdong as well as in Indonesia, he said he is aiming to triple production in Indonesia over time due to the tariff uncertainty.
"Everybody will step into the China-plus-one strategy. That's more valid than ever," he said, "If he [Trump] cancels tariffs tomorrow, do you think people trust him?"
GoldenHome, one of China's biggest kitchen cabinet makers, set up a manufacturing site in Samut Prakan in central Thailand in 2019 in large part to skirt punishing duties imposed on Chinese goods by the US government. The majority of the components, from door panels to hinges and drawer glides, are produced in Thailand rather than sourcing from China, according to Pan Xiaozhen, the company's CEO.
The company unveiled a flagship store in Malaysia last month in part to serve growing demand in the region, Pan said. It has paused further plans to expand in the US after opening its first assembly line in Cedar Hill, Texas in March, he added.
"We may shift more capacity to Malaysia if the country gets relatively lower tariffs from the US," he said.
But not everyone is so gung-ho about Southeast Asia, despite Trump's tariffs.
Gong from Yiwu Sihai Christmas Crafts said he's not looking to relocate production to Vietnam or other countries in large part because overall costs in China remain competitive. While labor is typically cheaper in Southeast Asia, other hurdles remain.
"It's hard to manage local workers. We heard they often refuse to work overtime. Plus, Chinese capital isn't necessarily welcome in many parts of the world," he said.
In Manila, Dee Xie, who sources smartphone accessories like headphones and sells to consumers in the Philippines and Indonesia, said his trading company's profit margin had dropped to less than 20%, nearly half what it was when he first entered the market in 2017.
Production in China remains far more efficient than elsewhere, despite the tariff uncertainty, he added. Most of the components are still supplied by Chinese firms even if the final assembly is done elsewhere.
"Nowhere else can beat the quality of goods made in China," Xie said. "As more Chinese competitors are coming over, we have to distinguish ourselves to survive."
This article first appeared on <a href="https://asia.nikkei.com/Spotlight/ASEAN-Money/Trump-tariffs-shine-spotlight-on-Chinese-targeting-Southeast-Asian-consumers">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Trump tariffs shine spotlight on Chinese targeting Southeast Asian consumers

Retail

Consumer Economy

<h3>Monit raises USD 2.5 million to improve spend management for Indonesian businesses</h3>
Monit, a Jakarta-based spend management platform, has raised USD 2.5 million in a funding round led by Cento Ventures, with participation from Sansan. Existing investors 1982 Ventures and Init 6 also took part.
Founded in 2022, Monit offers a corporate card platform that integrates artificial intelligence-driven tools to streamline business spending, expense tracking, and financial control.
The capital will be used to enhance Monit’s product suite, particularly its predictive insights and automation features, and to grow its team. The company also plans to expand into other Southeast Asian markets.
<figure id="attachment_155293" aria-describedby="caption-attachment-155293" style="width: 1920px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-full wp-image-155293" src="https://console.kr-asia.com/wp-content/uploads/2025/07/Monit-Team.jpg" alt="Photo of Monit’s team." width="1920" height="1080" srcset="https://console.kr-asia.com/wp-content/uploads/2025/07/Monit-Team.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2025/07/Monit-Team-720x405.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/07/Monit-Team-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/07/Monit-Team-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/07/Monit-Team-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/07/Monit-Team-480x270.jpg 480w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-155293" class="wp-caption-text">Photo of Monit’s team. Photo and header photo courtesy of the company.</figcaption></figure>
<h3>GreenTeams secures Series A funding to scale climate tech in Indonesia</h3>
<a href="https://greenteams.co/">GreenTeams</a>, a climate technology firm headquartered in Singapore with operations across Indonesia, has secured an undisclosed amount in a Series A funding round led by the Oriza Greenwillow Technology Fund.
The company builds real-time environmental monitoring systems for emissions and air quality to support regulatory compliance and industrial decarbonization.
Proceeds will be used to expand nationwide deployment, enhance AI-based forecasting tools, and strengthen integrations with ESG (environmental, social, and governance) data platforms.
GreenTeams is also preparing to launch an extended Series A round to bring in additional partners.
<h3>AI Hay raises USD 10 million to grow hyperlocal AI platform in Vietnam</h3>
<a href="https://ai-hay.vn/">AI Hay</a>, a Vietnam-based AI startup, has raised USD 10 million in a Series A funding round led by Argor Capital, according to <a href="https://technode.global/2025/07/02/vietnams-ai-hay-secures-10m-in-series-a-funding-round-led-by-argor-capital/">TechNode Global</a>. Existing investors Square Peg, Northstar Ventures, AppWorks, and Phoenix Holdings also participated. The round brings the company’s total funding to more than USD 18 million.
Founded in 2024, AI Hay combines generative AI with curated local content and social features to deliver personalized knowledge tools for Vietnamese users. Its platform enables question-and-answer interactions supported by themed communities and interactive discovery feeds.
The new capital will support expansion into web-based experiences, continued product development in education and entertainment, and the growth of AI-powered digital companions.
<h3>Rebee lands seed funding to grow digital physiotherapy in Southeast Asia</h3>
<a href="https://www.rebeehealth.com/">Rebee</a>, a health tech startup based in Singapore, has raised USD 1.18 million in seed funding to scale its digital physiotherapy solution. The round was backed by Paragon Ventures I, Seeds Capital, 1337 Capital 1, The LAB9, and C-shark SG.
The company provides a platform and wearable sensor system that delivers real-time feedback and personalized recovery plans for patients with musculoskeletal conditions. Rebee said its tools support safe, evidence-based physiotherapy at home, including for post-surgical, chronic, and acute care.
The funds will be used to advance product development, grow clinical partnerships in Singapore, Malaysia, and Australia, and expand its commercial team. A portion will also go toward research into patient outcomes and engagement.
whereAdBanner.Uptake
<h3>Recent deals completed in China:</h3>
<ul>
<li aria-level="1"><a href="https://www.jupiter-semi.com/">Jupiter Semi</a>, a provider of 3D spatial display solutions, has raised an eight-figure RMB sum in a pre-Series A funding round led by Wenzhi Venture Capital. The company plans to use the funds to strengthen its R&amp;D efforts and upgrade its production line to accelerate commercialization. Founded in 2021, Jupiter Semi offers full-stack solutions including optical design, 3D visual algorithms, and module integration. Its systems are compatible with LCD, OLED, and mini LED panels, supporting applications in advertising, entertainment, healthcare, beauty, and smart home devices. —<a href="https://36kr.com/p/3361412011558664">36Kr</a></li>
<li aria-level="1">Cavan Auto, a new energy vehicle startup, has secured over RMB 1.2 billion (USD 168 million) in a pre-Series A round. New investors include the Beijing Green Energy Fund, while existing backers BAIC Foton, BAIC Capital, Bosch Ventures, and Boyuan Capital also participated. Institutional investors such as Guotai Junan Innovation Investment, CICC Capital, and Jinyuan Group joined the round as well. Employees contributed through a shareholding platform. The proceeds will go toward R&amp;D, digital infrastructure, ecosystem development, and general operations. —<a href="https://36kr.com/p/3358639865989129">36Kr</a></li>
<li aria-level="1"><a href="https://squareenergy.com.cn/">Sufang New Energy Technology</a>, a battery materials startup, has raised an eight-figure RMB sum in an angel plus round backed exclusively by Midas Capital. ViU Capital acted as the financial advisor. The funds will support the development and commercialization of high-performance lithium manganese-rich cathode materials. —<a href="https://36kr.com/p/3354299803317125">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>Shiok Burger, Timah Partners, Casbot, and more made recent headlines:</h3>
<ul>
<li aria-level="1"><a href="https://www.shiokburger.com/">Shiok Burger</a>, a fusion burger brand, closed its pre-Series A funding round led by AC Ventures. Existing investors CFF Fund, Spiral Rise Capital, and a publicly listed Chinese food conglomerate also participated, significantly increasing their stakes.</li>
<li aria-level="1"><a href="https://timahpartners.com/">Timah

Deals in brief: Monit raises USD 2.5 million, GreenTeams and AI Hay land Series A rounds, latest China funding deals, and more

Vietnam

Indonesia

Chinese solar companies in the US are in a bind as sweeping legislation backed by President Donald Trump could bar them from receiving tax credits and subsidies that have spurred US solar manufacturing.
The 1,000-page "One Big Beautiful Bill Act" has been progressing through Congress, although it is still several steps away from enactment. A Senate draft was unveiled on June 16 after the House narrowly cleared an earlier version on May 22, meaning a compromise might need to be reached before a final bill is passed and sent for the president's signature.
But if enacted as envisioned, the bill would extend tax cuts and increase the national debt ceiling. It would also significantly change the tax credit system for the renewable energy sector, with new requirements for foreign entities of concern, or FEOCs. And these changes have China-linked solar companies worried.
"There are two groups of Chinese companies at the moment," said Ocean Yuan, president of solar distributor Grape Solar. "One group is completely giving up the US market due to the unsurmountable hurdles. The other group insists on knocking the door open by patiently working with local US partners."
Under the planned provisions, any entity that has more than 25% ownership by a Chinese company, or has ties to a Chinese military entity-listed firm, would be excluded from tax credits for clean electricity investments, clean fuel production and manufacturing next year. The bill would also accelerate the phase-out timeline for some of those tax credits for all producers by several years, to 2028.
Chinese companies like Jinko Solar, Trina Solar, and JA Solar invested millions of dollars to establish factories in the US over the last three years on the back of tax credits accrued under the Joe Biden-era Inflation Reduction Act (IRA).
The investment credits were designed to boost investments in domestic clean energy development. Scaling back or removing them, critics say, will hamper the development of green industries in the US. At the same time, Chinese solar companies say the FEOC rules pose significant challenges for them and have expressed little hope for any amendments before the Senate votes on the bill.
"The bill is impacting our current operations and also our future plans, we're not sure if we should continue to invest," said one executive who requested anonymity to speak freely. "It has made it very complicated for us and our customers."
Disqualifying projects that do not meet the new Chinese ownership criteria could sideline initiatives already in development.
Further complicating matters, the tax bill also includes a clause that would disqualify companies from receiving tax credits if the components made received "material assistance" from foreign entities of concern. That could include components in a solar module like cells or polysilicon that are manufactured or designed by an FEOC, according to analysts.
The Senate draft includes a formula for calculating whether a project received "material assistance" from a foreign entity.
Currently, the manufacturing credits, called 45X, are given to factory owners based on each component produced. Under the present legislation, a solar module can receive USD 0.07 per watt, or USD 70,000 per megawatt. While those remain unchanged for non-Chinese companies, if a module uses foreign components exceeding the acceptable amount, the company might not receive the credits.
China produces 96% of the world's polysilicon, a key material for solar panels.
"The bill takes an aggressive approach toward trade, the language in the bill right now forces the decoupling," another Chinese solar representative said. "It really limits the supply of product that can qualify" for credits.
Yuan said there has been strong interest among upstream Chinese suppliers in setting up shop in the US since Trump started raising tariffs this year, but the bill has made them pause.
"For newcomers, when they see the problems of these large companies, they will hold off their investment plans until they figure out a safer way to engage in the US market," he said.
Advocates of targeting foreign entities of concern say that doing so will reduce overreliance on geopolitical rival China and ultimately bolster the American solar supply chain.
Most of the world's biggest solar players are from China, which has buoyed the industry through heavy subsidies. This has helped China adopt renewable energy sources but has also undermined prices and wiped out profits. The excess of solar panels domestically has pushed companies to look at overseas markets, including the US, where energy demand is growing thanks to an <a href="/industry/ai">artificial intelligence</a> push.
The US added 8.6 gigawatts of new solar module manufacturing capacity in the first quarter of this year, the third-most new manufacturing capacity in a single quarter, according to Solar Energy Industries Association (SEIA) data.
Even before Trump’s trade war with China, during which the US leader raised tariffs on Chinese imports to as high as 145% earlier this year before reducing them to 30%, Chinese solar companies faced major headwinds in the US.
Solar imports from China already faced high tariffs in the US, prompting the companies to set up production bases in Southeast Asian countries. US manufacturers filed a petition alleging Chinese companies in those countries were flooding the market with cheap products.
The US International Trade Commission finalized <a href="https://asia.nikkei.com/Economy/Trade-war/US-to-set-tariffs-on-solar-cells-from-Southeast-Asia-as-high-as-3-521">tariffs as high as 3,500%</a> on solar products from Chinese manufacturers shipping from Malaysia, Thailand, Cambodia, and Vietnam.
SEIA president and CEO Abigail Ross Hopper warned that the draft legislation would make it difficult for US manufacturers to do business and could threaten an energy shortage that would increase electric bills.
Ron Wyden, a Democrat and US senator, described the Senate draft as a "stake in the heart of American solar manufacturing."
"The manufacturing isn't going to happen here. It's going to happen in China," Wyden said. "Hundreds of thousands of jobs in manufacturing are now in danger."
This article first appeared on <a href="https://asia.nikkei.com/Spotlight/Trump-administration/Trump-s-Big-Beautiful-Bill-threatens-to-pull-plug-on-China-solar-players">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Trump's "Big Beautiful Bill" threatens to pull plug on China solar players

Deep Tech

Energy

Omoway, an electric motorcycle maker, has completed its seed and angel funding rounds, raising a combined eight-figure USD sum. The funding was jointly led by ZhenFund, HongShan, and Hui Capital, with founder He Tao and the core team also participating. The funds will support mass production and ongoing R&amp;D efforts.
Founded in 2024, Omoway was established by former <a href="/company/xpeng">Xpeng Motors</a> co-founder He, alongside Jiao Qingchun, a former vice president at Xpeng. The core team includes Xiao Zhiguang, former head of Xpeng’s autonomous driving unit; P7 design director Zhang Lihua; and Chen Bifeng, former head of Vivo’s Indonesia operations, who now leads Omoway’s regional market expansion.
On June 20, Omoway introduced its first smart electric motorcycle prototype, the Omo X, at an event in Jakarta, Indonesia. The vehicle drove itself onto the stage in autonomous mode.
According to 36Kr, the production version of the Omo X is scheduled to be unveiled later this year, with a market launch in Indonesia expected in 2026.
Omoway is positioning Indonesia as its entry point into the global market.
Southeast Asia represents a significant portion of the global motorcycle market. According to 36Kr, research indicates that the region accounted for 24% of global sales in 2023, with an ownership base of 250 million vehicles and 12.42 million units sold that year. Indonesia, Vietnam, and Thailand led the market.
In Indonesia, motorcycles serve as essential daily transport due to limited public transit options and the high cost of car ownership. The country is the world’s third largest motorcycle market, with over 120 million motorcycles in use, equating to roughly one for every two people. In 2024, motorcycle sales surpassed 6.3 million units. Internal combustion engine models, primarily from Japanese and South Korean manufacturers, reportedly dominate more than 96% of the market.
Over the past two years, Indonesia's electric two-wheeler market has expanded rapidly, supported by a more developed local supply chain. Government policies promoting the transition to electric vehicles have helped electric motorcycle sales grow nearly 400% in 2024, although the overall penetration remains limited.
“Indonesians tend to commute long distances and ride frequently,” Omoway’s head of finance and capital Cai Yujie told 36Kr. “Many people not only use motorcycles for daily commutes, but also travel across cities on weekends, often for four to five hours each way. As a result, there’s high demand for performance in terms of load capacity, speed, range, and versatility. Current electric bike models mainly serve short distance travel, like students or stay-at-home parents. But the heavy-duty electric motorcycle segment still lacks strong contenders with robust product capabilities, supply chain control, and localization strategies.”
Founder He said the team carried out a yearlong market study in Indonesia, visiting both urban and rural areas across Java and engaging with local distributors and users. Omoway has since built preliminary partnerships with several regional dealers. Drawing on its automotive supply chain experience, the company claims to exceed traditional two-wheeler quality standards while managing production costs. Local manufacturing operations have already begun.
Omoway’s first electric motorcycle was customized for the Indonesian market, incorporating automotive-grade smart driving technologies adapted for two-wheelers.
The Omo X runs on Omoway’s proprietary Halo full-domain smart development architecture. Its Halo Pilot system uses visual sensing and self-balancing features to support stability at low speeds. The system also offers adaptive cruise control, one-touch parking, and remote summon functionality.
On the safety front, Halo Pilot uses advanced sensing algorithms, artificial intelligence, and big data models for real-time environmental monitoring. It includes multidirectional collision alerts and a collision assist brake (CAB) system, which applies braking when it detects imminent threats the rider does not respond to, reducing potential impact severity.
In terms of design, the Omo X introduces a convertible frame that enables users to switch between step-through, straddle, and touring modes.
Omoway maintains two headquarters: one in Guangzhou for R&amp;D, and another in Jakarta for production and sales.
“Indonesia is just the beginning,” He said. “Our ultimate goal is to bring highly intelligent products into every household. In the future, our self-developed automotive-grade technologies will be deployed across broader mobility applications. Localization will be the cornerstone of our global expansion strategy.”
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3353467104588677">article</a> was written by Leslie Zhang for 36Kr.

Former Xpeng execs launch Omo X smart e-motorbike in Indonesia

Xpeng Motors

East Asia

Transportation

Electric Vehicles

Mobility

Like many Malaysians, Melissa Chow usually watches Hollywood films when she goes to the movies.
But several weeks ago, she went with some hesitation to check out Ne Zha 2, an animated feature from China, on the urging of friends.
"I was pleasantly surprised and very impressed by the production," said Chow, who lives in a suburb of Kuala Lumpur. "I thought the animation, cinematography and storyline were excellent, with humor and plot twists injected at just the right moments."
Malaysians like Chow have embraced Ne Zha 2 more strongly than audiences anywhere but China, buying MYR 50.3 million (USD 11.9 million) worth of tickets since the film's local release on March 13. Overall, the movie has racked up USD 2.14 billion in ticket sales in four months, setting world records for both an animated film and a non-English film.
Neither China's film industry nor any other in Asia has ever produced a hit on this scale before. Among the 59 movies that have generated USD 1 billion in cumulative box-office sales according to industry website Box Office Mojo, Ne Zha 2 is the first to come from beyond the studios of Hollywood.
Yet while curious moviegoers like Chow have turned out in droves, international sales have been inconsequential to the film's success so far—a stark contrast with the average Hollywood blockbuster, which typically generates 50–75% of its revenues outside the US. The animated feature's box office take thus shows how far China's industry has come in terms of creating blockbuster content, and how far it has to go to reshape the global movie market.
"They make stories that Chinese audiences can relate to, which in itself (can produce) a billion-dollar box office, but still they are very limited in what they can do with other, more universal stories," said Thomas William Whyke, an assistant professor of international communications at the University of Nottingham's campus in Ningbo, China. "That has an impact on how well their films will do abroad."
Loosely based on a 16th-century classical Chinese novel known in English as "Investiture of the Gods" or "Creation of the Gods," Ne Zha 2 is a sequel to a 2019 hit film. Both were directed by Yang Yu, who goes by the nickname "Jiaozi," the Mandarin Chinese word for dumpling. His latest fantasy adventure centers on two supernatural youth, the demonic Ne Zha and dragon offspring Ao Bing, who are forced to share a single body as they embark on a series of epic trials.
An USD 80 million joint production involving 138 local companies led by Jiaozi's studio Chengdu Coco Cartoon, Ne Zha 2 was five years in the making and required 4,000 animators and use of the Guian supercomputing center in Guizhou. Sichuan, which encompasses Chengdu, provided financial support for the production.
"China's entire CGI industry was mobilized to produce Ne Zha 2," said Daisy Yan Du, a Hong Kong University of Science and Technology (HKUST) humanities professor, referring to computer-generated imagery.
At first, Chinese CGI studios were unable to render certain elements of Jiaozi's vision, Du said, such as the rippling fur of a leopard demon. Preparing the movie for display on IMAX screens required particularly detailed imaging.
"Jiaozi pushed hard," Du said. "As of now, Ne Zha 2 represents the highest achievement of Chinese CGI technology."
The Chinese animators' accomplishments in turn have been highlighted in the film's domestic marketing campaigns and in posts by fans on social media who have championed Ne Zha 2 as the equal of any American production.
"The challenge to Hollywood's cultural hegemony has been driving the (online) discussions around the film," Nottingham's Whyke said.
See Wei Ming, a researcher in Kuala Lumpur, compared <a href="https://asia.nikkei.com/Opinion/From-Wukong-to-Ne-Zha-China-is-shaping-global-pop-culture">Ne Zha 2 to a hit video game</a> from China last year.
"The film's vibrant animation, rebellious theme and clever humor demonstrate the self-initiative of Chinese filmmakers, akin to those behind Black Myth: Wukong, who are creatively reimagining mythology to captivate domestic audiences while simultaneously 'telling China's stories well' to international audiences," he said, referencing a slogan often used by Chinese President Xi Jinping.
Some Asians are rallying behind Ne Zha 2 out of a wider sense of regional pride.
Tan Meng Kheng, a Malaysian director and actor, compares the film's success to that of the Academy Award-winning movie Parasite and the Squid Game television series, both from South Korea.
"You know, all these things have actually made people realize that, 'Hey, we are not inferior to the West,'" Tan said. "We are actually just as good, if not better."
A reviewer at the newspaper The Hindu, which is based in Chennai, India, where the movie opened on April 25, raved that Ne Zha 2 had "eaten Pixar for breakfast," adding that the film's "critique of Western imperialism feels incandescent."
"Unlike the current wave of contrite, state-sponsored Western superheroes, or the glut of sad boys in capes stuck in a cycle of moral ambiguity, Ne Zha is simply furious, and his clarity is radical: oppression is evil, resistance is righteous," he wrote.
Yet for other potential audiences outside mainland China, the film's embedded cultural references—and possible political messaging that observers like The Hindu's reviewer perceive—appear to be turnoffs.
Ne Zha 2 has yet to be scheduled for release in either Taiwan or Vietnam, to the consternation of China's state-owned media, which have published stories claiming frustrated moviegoers from the two markets, each politically wary of Beijing, have been crossing borders to see the film.
Taiwan sets an annual quota on mainland Chinese movies, which was allotted for the current year without the submittal of an application for Ne Zha 2, according to the island's Ministry of Culture. Officials indicated that an exception could be made if the movie wins a top international prize.
In Vietnam, internet user Le Thuy Tien posted that she had been looking forward to the film since before the Lunar New Year holiday in January but the continued lack of a local screening date was causing her to lose interest.
"Now, if it's convenient to go to the theater, I'll watch it," she said. "If not, then I won't. I'm not that excited anymore."
Like many of the animated film's Malaysian fans, a large share of viewers outside China praising Ne Zha 2 are themselves ethnic Chinese.
"It did a better job in Asian markets than Western ones because the story is deeply rooted in traditional Chinese mythology, which appeals to

Ne Zha 2: China makes a USD 2 billion blockbuster all of its own

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Creative

Content

… PhilSA has already made significant progress in catalyzing the country’s space economy. Besides signing 11 agreements to establish relations with various space-related organizations, PhilSA plans to launch 11 satellites over the next decade, aligning with national development goals and opening doors to a wealth of commercial and research partnerships.
Additionally, Vietnam’s startup ecosystem, ranked 56th globally in 2023, is expected to serve as a key enabler of space sector development. It benefits from supportive government policies, such as the “Digital Infrastructure Master Plan” and “National Green Growth Strategy.” Space applications are expected to play a key role in these targets, especially in environmental monitoring and data analysis.
<h3>How startups can “step into” space</h3>
Space technologies are becoming integral to modern information infrastructure. Startups that use space-derived data to generate insights and create value are best positioned to tap into a growing range of commercial opportunities.
In Southeast Asia, EO technologies are expected to have the greatest impact on agriculture, mining, and the oil and gas sectors. These fields could account for nearly 80% of the additional USD 100 billion in GDP projected from EO adoption in the region.
With opportunities to integrate space-based tools into existing business processes, startups in these sectors can explore space innovations to solve local challenges and unlock growth potential.
For instance, <a href="https://www.linkedin.com/pulse/asean-space-trade-billion-dollar-playbook-casie-lane-millhouse-fdo5c/">satellite data</a> is already being used to predict oil price movements, track global shipping, and forecast agricultural output. Companies in the region are increasingly employing satellite imaging to optimize trade routes, reduce inefficiencies, and mitigate disruptions in global trade.
Malaysia has integrated EO data into supply chain risk analysis, helping industries track logistics efficiency and mitigate asset risk across its USD 372 billion trade network. For example, Malaysian startup <a href="https://www.urbanmetry.com/">UrbanMetry</a> utilizes geospatial data and novel indicators to provide market intelligence to real estate investors across asset classes. By mapping areas prone to landslides and floods and overlaying this information with loan data, the company enables more comprehensive and informed climate risk evaluations. This is particularly significant for logistics assets, whose exposure to extreme weather can significantly disrupt supply chains and economic activity.
Meanwhile, in Indonesia, EO data is supporting precision agriculture, enabling better crop management and resource allocation. The <a href="https://rspo.org/">Roundtable for Sustainable Palm Oil (RSPO)</a> uses satellite monitoring to track plantation activity and ensure adherence to sustainability standards.
Thailand-based startup <a href="https://www.web.ricult.com/">Ricult</a> provides smallholder farmers with free access to localized weather data, farm advisory services, and farm health monitoring powered by satellite imagery. These tools enable farmers to time their planting, fertilising, and harvesting activities to maximize agricultural productivity, while satellite-based analysis of their crops and land provide collateral to access farm loans.
These examples show how startups can play a meaningful part in the space economy by applying satellite data to solve practical problems and differentiate their offerings. Beyond that, partnerships with government agencies, international institutions, and other stakeholders can further amplify their impact.
With the right mix of investment, policy support, and technical capacity, Southeast Asia has the potential to build a robust and inclusive space economy. For startups and businesses willing to explore space-powered innovation, the opportunity is both real and growing.
About the author: This article was authored by Michelle Khoo, leader of the Deloitte Center for The Edge Southeast Asia. With over a decade of experience in advising business and government leaders on long-term strategies, Michelle is passionate about shaping a more sustainable, fairer, and inclusive future in both physical and digital realms. Her work revolves around artificial intelligence, sustainability, the metaverse, disruption, and innovation.

Unlocking growth in orbit: How startups can harness opportunities in the booming space economy

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<blockquote>China Recap is a weekly roundup tracking Chinese companies expanding abroad, covering market entries, funding rounds, product launches, and global partnerships.</blockquote>
China’s corporate globalization strategy is evolving fast. Industry giants are rewriting the global playbook, while a new generation of companies charts fresh paths overseas.
China Recap tracks both—focusing on strategic expansion, brand building, and localized operations—to help readers make sense of shifting trends and understand how Chinese firms are reshaping their global approach.
Here’s what made headlines last week:
<h3>China doubles down on embodied intelligence</h3>
<ul>
<li aria-level="1">Uniview <a href="https://mp.weixin.qq.com/s/UE0Kk5j5yNLloBjjHhJbzA">said</a> it has formed an alliance with Deep Robotics and Xiaoyuan Robot have formed an alliance to co-develop smart patrol and inspection solutions. The partnership brings together Deep Robotics’ quadruped mobility, Uniview’s visual sensing and camera systems, and Xiaoyuan’s integration expertise to accelerate the deployment of <a href="/industry/ai">artificial intelligence</a>-powered patrol systems for urban safety and emergency response.</li>
<li aria-level="1">Horizon Robotics plans to raise HKD 4.67 billion (USD 594.9 million) through a top-up share placement to support business expansion and R&amp;D. The self-driving chipmaker will sell 681 million shares at HKD 6.93 (USD 0.9) each, with support from existing investors and placement agents Goldman Sachs, Morgan Stanley, and UBS, amid bullish sentiment in Hong Kong. —<a href="https://www.scmp.com/business/banking-finance/article/3314097/horizon-robotics-plans-raise-us595-million-hong-kong-share-placement">SCMP</a></li>
<li aria-level="1">Nanjing launched an action plan to grow its embodied AI sector to over RMB 10 billion (USD 1.4 billion) by 2027. At a June 11 conference, the city unveiled a dedicated industry park and alliance, aiming to support more than 150 companies and scale mass production. The plan includes new R&amp;D hubs, data labs, and pilot deployments in the public sector. —<a href="https://www.thepaper.cn/newsDetail_forward_30967852">The Paper</a></li>
<li aria-level="1">Kandi Technologies and Deep Robotics agreed to jointly develop smart golf gear and quadruped security robots for the North American market. Kandi will oversee product adaptation, manufacturing, and marketing, while Deep Robotics provides core technology and components. —<a href="https://www.36kr.com/newsflashes/3333305544927494">36Kr</a></li>
<li aria-level="1">Chinese <a href="/industry/robotics">robotics</a> firm EngineAI filed a patent for a control method enabling straight-leg walking in humanoid robots. The system reportedly combines gait data, adversarial networks, and real-world feedback to enhance energy efficiency, stability, and human-like agility. —<a href="https://news.cgtn.com/news/2025-06-10/China-s-humanoid-robot-startup-develops-straight-leg-walking-control-1E5wbtQJ1RK/p.html">CGTN</a></li>
<li aria-level="1">China launched a three-year pilot to deploy eldercare robots in homes, communities, and institutions, aiming to ease labor shortages and improve quality of life for seniors. Backed by state ministries, the initiative includes over 200 trials and promotes standards development. By 2035, seniors will make up over 30% of the population. —<a href="https://www.scmp.com/tech/policy/article/3313739/china-turns-robots-elderly-care-national-pilot-programme">SCMP</a></li>
</ul>
<h3>TikTok launches first showroom in Ho Chi Minh City</h3>
<a href="/company/tiktok">TikTok</a> has opened its first offline showroom in Ho Chi Minh City’s Tan Binh district, offering product displays, live sampling, and daily live streams. The center will host monthly content creator events and closed-door merchant workshops to enhance product engagement and creator access. —<a href="https://www.ebrun.com/ebrungo/zb/582179.shtml">Ebrun</a>
<h3>Gojek migrates services to Tencent Cloud</h3>
Gojek, the ride-hailing and delivery arm of Indonesia’s GoTo Group, has migrated over 1,000 microservices to <a href="/company/tencent">Tencent Cloud</a>. The cutover was completed within five hours after eight months of joint planning and testing. —<a href="https://36kr.com/newsflashes/3322985136024067">36Kr</a>
<h3>ASD plans Vietnam plant investment</h3>
Chinese home appliance maker ASD plans to invest up to RMB 150 million (USD 21 million) in Vietnam to develop cookware, small appliances, and industrial robots. The company said the move would enhance its global layout and help mitigate external economic uncertainties. —<a href="https://36kr.com/newsflashes/3320725600610823">36Kr</a>
That wraps up this edition of China Recap. If your company is expanding internationally, we’d love to hear about your latest milestones. <a href="mailto:changweiqian@global.36kr.com">Get in touch</a> to share your story.

China Recap | Doubling down on embodied intelligence

… headlines:</h3>
<ul>
<li aria-level="1">GridCare, a Singapore-based startup optimizing energy access for data centers, raised USD 13.5 million in an oversubscribed seed funding round led by Xora, a deep tech fund backed by Temasek. Other backers include Aina Climate AI Ventures, Sherpalo Ventures, Breakthrough Energy Discovery, and several unnamed investors.</li>
<li aria-level="1">Airwallex, a global business financial platform, secured USD 300 million in a <a href="https://kr-asia.com/airwallex-raises-usd-300-million-eyes-ipo-readiness-and-ai-led-finance">Series F funding round</a>, including USD 150 million in secondary share sales. Among the participants were Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree, Salesforce Ventures, Visa Ventures, and multiple Australian pension funds.</li>
<li aria-level="1">Every Half Coffee Roasters, a Vietnamese specialty coffee chain, reportedly raised USD 3 million in a pre-Series A funding round co-led by Openspace Ventures and DSG Consumer Partners.</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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