Accelerating Asia invests in eight startups from latest cohort
The early-stage venture capital fund and startup accelerator has announced its investment into eight startups joining the ninth cohort of its flagship accelerator program.
According to Craig Dixon, co-founder and general partner of Accelerating Asia, this decision was driven by the significant market traction achieved by the startups, boasting an average monthly revenue of USD 65,000 and a growth rate of 18.25%. These eight startups have a market presence in six markets: Singapore, India, Sri Lanka, Pakistan, Bangladesh, and Japan.
The eight startups are:
- AletheaAI (rebranded as Brick and Mortar) is an artificial intelligence R&D studio that connects its AI system with existing CCTV infrastructure to produce actionable intelligence in real time to solve business problems.
- Auptimate is a Singapore-headquartered company that has developed a platform to simplify the setup and operation of special purpose vehicles.
- Interactive Cares is a Dhaka-based edtech company that aims to create employability for unemployed youths in emerging markets.
- Mintpay is a shopping aggregator that simplifies shopping decisions and offers flexible payment options, cashback rewards, and voucher discounts.
- NoApp is an AI-powered platform that aims to empower businesses to launch and market their products on WhatsApp.
- Orko is a software provider for electric vehicle manufacturers, fleet operators, and charging station and battery swapping station operators.
- Peel Lab is a Japanese B2B startup that manufactures plant-based leather using leftover pineapple leaves.
- UXArmy is a user research platform that enables organizations to understand customer needs and improve user experiences based on automated user research and AI.
Pawprints Inspired secures USD 1.7 million in funding
The Indonesian insect-based pet food company has raised USD 1.7 million in a funding round led by Creative Gorilla Capital. Altrui, Tujuh Bersaudara Investindo, and other undisclosed investors also participated in the round.
Concurrent with this deal, Pawprints Inspired also acquired a Japanese pet food company to expand its portfolio. It did not disclose the name of the company. —e27
Wize secures USD 16 million in pre-seed round
The Dubai-based startup specializing in sustainable last-mile delivery solutions, has raised USD 16 million in a pre-seed funding round jointly led by a group of undisclosed MENA-focused angel investors.
Wize has earmarked the newly acquired funds to be used for strategic initiatives that will bolster its presence in the UAE market. This includes investing in product development, expanding its service capabilities, and exploring opportunities for collaboration in the MENA region. —TechNode Global
Aerologix acquires Mappa to launch new mapping product
The Sydney-based drone technology startup has raised AUD 2 million (USD 1.3 million) to acquire Brazilian mapping software company Mappa.
This acquisition was funded by returning investor Nightingale Partners, after Aerologix raised AUD 4.2 million (USD 2.74 million) last year in a round led by Ellerston Capital and Nightingale Partners.
Prior to this deal, Mappa was developing software that turns drone imagery into high-resolution maps. Following this acquisition, Aerologix will incorporate Mappa’s software into a new product called AerologixMaps.
Having launched in New Zealand earlier this year, Aerologix will also be focusing on expanding into the US market. —Australian Financial Review
Animoca Brands, Amazon Web Services, and Polygon Labs launch new Web3 accelerator
Blockchain gaming group Animoca Brands, cloud computing platform Amazon Web Services (AWS), and software solutions provider Polygon Labs, has unveiled the MoonRealm Express Accelerator.
This new accelerator program aims to support Web3 builders and accelerate the development of Web3 products and solutions through Mocaverse, the flagship project of Animoca Brands.
In a statement, Animoca Brands said that AWS, as a partner of the program, has committed to investing USD 1.1 million to support up to 500 eligible startups in the inaugural cohort. —TechNode Global
Recent deals completed in China:
- Eacon, an autonomous haulage solution provider, has raised close to RMB 400 million (USD 55.7 million) in equity financing. The round was led by Richen Capital with the support of various new and existing investors including Estar Capital. Including this round, Eacon has raised around RMB 450 million (USD 62.1 million) this year. —36Kr
- Lingkeda Intelligent Technology, a smart factory solution provider, has announced the completion of an angel funding round, raising an eight-figure RMB sum. The round was led by Yonyou Industrial Investment, with participation from Shanghai-based tech company Kunde. Lingkeda will use the funds to iterate its products and conduct marketing activities. —36Kr
- Taihu Electric, a smart energy technology developer, has secured a nine-figure RMB sum in a Series C funding round led by CICC Capital. Inno Investment Bank served as the chief financial advisor. —36Kr
- Yuanchu Technology, a Beijing-based climate tech company, has completed its pre-Series A round of financing, raising an undisclosed amount of investment. This round was led by GeniLink Capital. —36Kr
- Shushi Technology, a low-code technology company, has completed a Series A funding round, raising an eight-figure RMB sum from Sycamore Prima Global Capital. Sushi will deploy the funds raised from this round to bolster its branding, develop products, and establish its partner ecosystem. —36Kr
- Tosun Technology, a Shanghai-headquartered company focusing on the R&D of automotive electronic tool chain products, has completed a Series A+ funding round, bagging over RMB 100 million (USD 13.7 million). The lead investor is an advanced manufacturing fund managed by CS Capital, while existing investor Harvest Capital participated in the round. The funds will be used for product R&D and market expansion. —36Kr
- Tianyi Microelectronics, a microdisplay chip design company, has completed a Series A funding round, raising an eight-figure RMB sum. The round was led by Winreal Investment and saw the participation of Voyage Capital. The company will utilize the funds for the R&D of a new OLED driver chip aimed at benchmarking Apple’s MR display chip, as well as team expansion. —36Kr
- AI Group, a Beijing-based company specializing in carbon measurement services, has concluded an angel funding round, raising RMB 10 million (USD 13.9 million) from Albatross Venture. AI Group will use the capital primarily for team expansion, product development, and market expansion. —36Kr
- Xingji Meizu Group, a Geely-owned smartphone maker, has secured a total of RMB 2 billion (USD 276.1 million) across two funding rounds. The company recently secured Series A funding in a round led by Asia Investment Capital (Shanghai) Management and Harvest Global Investments, having closed an extended angel funding round in the first half of this year. That round saw the participation of local investors including Winreal Investment, Xingyuan Fund, and the Wuhan Economic Development Zone. —DealStreetAsia
Latest venture capital deals in India:
- Inito, a Bengaluru-based health tech startup, has secured INR 500 million (USD 6 million) in a Series A funding round led by Fireside Ventures. The round also witnessed participation from various undisclosed family offices and angel investors. The funds will be used to support Inito’s expansion plans, enhance its product, and transform the company’s platform into a comprehensive multi-test health platform. —VCCircle
- Happy Nature, a dairy and breakfast essentials brand, has raised INR 25 million (USD 300,000) in a pre-Series A funding round. Inflection Point Ventures led the funding round with the support of undisclosed high-net-worth individuals and angel investors. The funds will be allocated toward various strategic initiatives, including branding, technology development, upgrades to processing plants, and market expansion. —VCCircle
- AirAttix, a Pune-based marketplace for storage and parking spaces, has secured INR 23 million (USD 276,000) in a pre-Series A funding round led by a group of undisclosed angel investors based in India and the US. AirAttix will use the funds to expand its operations, extending its services to Dubai and recruiting new talent for its offices in India. —VCCircle
CapitaLand, BeeX, Digital Edge, and more recently led headlines:
- CapitaLand, a Singapore-headquartered real estate company, announced the ten winners of the CapitaLand Sustainability X Challenge (CSXC) 2023. The company will provide funding of up to SGD 1 million (USD 741,000) to support the testing of their innovations at selected CapitaLand properties.
- BeeX, a Singapore-based developer of underwater autonomous vehicles, secured USD 2 million in an oversubscribed bridge round. The funding was jointly led by Earth Venture Capital and ShipsFocus Ventures, with participation from SEEDS Capital, NUS Technology Holdings, and Infinita VC.
- Digital Edge, a Singapore-headquartered data center platform company, secured a green loan to support the first phase of development for SEL2, its 100-megawatt data center project in Bupyeong-gu, Incheon.
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