Early-stage
China EV brand Aion raises $2.5b
GAC Aion, an electric vehicle (EV) brand under GAC Group, a Chinese state-owned automotive manufacturer, has raised CNY 18.3bn (USD 2.5bn) in Series A funding at a valuation of CNY 103.2bn from 53 so-called strategic investors.
Philippines fintech start-up gets $16m Series A
Abu Dhabi’s ADQ has backed a USD 16m Series A round for a Philippines-based financial technology start-up founded by former executives of Russian digital banking leader Tinkoff Bank.
Pavilion backs Singapore influencer platform
Temasek Holdings-owned Pavilion Capital has joined a USD 7m round for Singapore’s Partipost, which claims to be Asia’s fastest-growing crowd influencer marketing and commerce platform.
Indonesia solar start-up raises $33m Series A
Indonesia’s Xurya, a solar power rental and installation start-up, has lifted its Series A round to USD 33m with new commitments from Mitsui & Co and local property conglomerate Surya Semesta Internusa.
China energy storage player Hithium gets $276m Series B
Xiamen Hithium Energy Storage Technology, a China-based battery manufacturer, has secured CNY 2bn (USD 276m) in Series B funding led by ABC International.
Horizons leads Series A for Australia's Nourish Ingredients
Nourish Ingredients, an Australia-based alternative protein start-up that uses synthetic biology to produce animal-free fats, has raised USD 28.6m in Series A funding.
Deal focus: Well-Link aims to make gaming even more real
China’s Well-Link Technologies raised a Series B extension to support long-term investment and blue sky thinking around the role of real-time cloud rendering in gaming and metaverse applications
Singapore's Bolttech hits $1.5b valuation with Series B
Singapore's Bolttech, an insurance technology provider set up by Pacific Century Group in 2020, has raised an undisclosed sum in Series B funding, claiming a valuation of USD 1.5bn.
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Strategic players converge in Indonesia waste start-up Series A
Indonesia’s Waste4Change signalled broad appetite for exposure to local waste management services with a USD 5m Series A round featuring a diverse range of strategic backers.
SIG leads Series B extension for SE Asia payments start-up
Southeast Asia-focused B2B payments specialist Ayoconnect has closed a Series B extension of USD 13m led by SIG Asia. CE Innovation Capital and Prosus-owned PayU also took part.
US logistics AI start-up gets $100m for Asia entry
US-based Altana Technologies, an artificial intelligence (AI) and analytics provider for the logistics industry, has raised USD 100m in Series B funding with plans to open a Singapore office in early 2023.
East leads $10m round for Indonesia fintech player Alami
East Ventures has led a USD 10m pre-Series B round for Indonesia’s Alami, a sharia-compliant financial technology provider and small business lender.
Australia's AgriWebb upsizes Series B to $29m
AgriWebb, an Australia-based livestock management app used by farmers and ranchers, has closed its Series B round at USD 29.3m, following a USD 6.7m top-up featuring two new investors.
Insignia invests $10m in Thai beauty start-up
Insignia Ventures Partners has provided USD 10m in Series A funding to Thailand’s Konvy, a 10-year-old beauty e-commerce start-up.
Citi, Accel back Hong Kong crypto start-up Xalts
Citi Ventures and Accel have invested in Hong Kong-based Xalts, a start-up founded by former HSBC and Meta personnel, with a view to facilitating digital asset management for institutional investors.
Investors call on Japanese start-ups to pursue overseas capital - AVCJ Forum
Japanese start-ups must attract more institutional capital from overseas given the paucity of local investors, especially in the growth stages, the AVCJ Japan Forum heard.
Australia gaming, e-sports start-up gets $12m
Gamurs, a Sydney-headquartered media company specialising in gaming, e-sports, and entertainment, has secured USD 12m in Series A funding.
Hillhouse launches China incubation unit
Hillhouse Capital has introduced an incubation strategy that is intended to support China-based start-ups from incubation through the seed stage.
China's Neushen Therapeutics gets $20m pre-Series A
China’s Neushen Therapeutics, a biotech developer focused on central nervous system (CNS) disorders, has raised USD 20m in pre-Series A funding led by local VC firm Lapam Capital.
Singapore's Una Brands raises $30m Series B
Una Brands, a Singapore-based brand agglomeration platform that operates across Asia, has secured USD 30m in Series B funding led by Alpha JWC Ventures and White Star Capital.
Temasek leads $40m Series B extension for China's Well-Link
Temasek Holdings has led a USD 40m Series B extension for Well-Link Technologies, a China-based provider of real-time cloud rendering solutions for game developers.
Deal focus: AI integration pays off for Evomotion
With investors going cold on China artificial intelligence, Evomotion has remained popular and profitable by delivering hardware and software to corners of the market that are either overlooked or hard to access
China AI solution provider Evomotion raises $20m
Evomotion, a China-based artificial-intelligence-of-things (AIoT) specialist that supplies software and chips to electronic appliance makers and supermarket retailers, has raised USD 20m in Series B funding.