Expansion
India's Molbio secures Temasek backing, becomes unicorn
India’s Molbio Diagnostics, a medical equipment maker best known for its COVID-19 testing systems, has raised a USD 85m round featuring Temasek Holdings at an enterprise valuation of USD 1.6bn.
China silicon supplier Lihao gets $305m Series B
Lihao Semiconductor, a China-based supplier of silicon materials used in solar panels, has raised CNY 2.2bn (USD 305m) in Series B funding from an investor group featuring Oceanpine Capital, V Fund, and Harvest Capital.
Petronas Ventures backs Malaysian drone player
Petronas Ventures, the VC arm of Malaysian oil giant Petronas, has led a USD 30m round for drone developer Aerodyne Group with support from domestic pension fund KWAP.
India's True North buys stake in TA-backed Accion Labs
Indian middle market private equity firm True North has acquired a significant minority position in US and India-based IT provider Accion Labs from TA Associates for USD 93m.
Thailand's Line Man Wongnai raises $265m
Thailand’s Line Man Wongnai – a food delivery, taxi, and messaging app – has raised a USD 265m round featuring GIC at a valuation of USD 1bn. It claims to be the largest start-up locally.
Japan flying car player SkyDrive gets $67m Series C
Japanese flying car developer SkyDrive has raised JPY 9.6bn (USD 67m) in Series C funding featuring US-based Pegasus Tech Ventures and local strategics such as Suzuki Motor.
Cambodia's Amara Capital backs local hospitality operator
Cambodia’s Amara Capital has agreed to invest an undisclosed sum in local restaurant and hotel group Thalias Hospitality.
India insurance start-up Zopper raises $75m
Indian private equity firm Creaegis has led a USD 75m Series C round for local insurance technology provider Zopper.
KKR leads $450m investment in India's Hero Future Energies
KKR has led a USD 450m investment in Indian renewable energy company Hero Future Energies (HFE), with parent company Hero Group also participating.
China satellite player Galaxy Space achieves unicorn status
Galaxy Space, a China-based satellite developer, has raised a new funding round led by CCB International at a post-investment valuation of CNY 11bn (USD 1.6bn).
Japan’s J-Star backs campervan manufacturer
Japanese lower-middle market private equity firm J-Star has confirmed an investment of undisclosed size in Toy Factory, a campervan designer and manufacturer.
Indonesia’s Fazz raises $100m Series C
Indonesia’s Fazz, a financial services provider for Southeast Asia micro businesses, has raised a USD 100m Series C round featuring Tiger Global, DST Global, and B Capital Group.
Affirma joins $40m round for India air conditioning supplier
Affirma Capital has joined a USD 40m investment in India’s Epack Durable, a leading domestic designer and manufacturer of air conditioning units among other home appliances.
Temasek, Boyu, GGV back Hong Kong’s Animoca Brands
Hong Kong metaverse start-up Animoca Brands has raised USD 110m featuring Temasek Holdings, Boyu Capital, and GGV Capital. Funding since the start of 2021 now tops USD 630m.
Affirma leads $217m investment in Korean digital insurer
Affirma Capital has led a KRW 300bn (USD 217m) funding round – at a valuation of KRW 1trn – for Carrot General Insurance, a South Korea-based digital insurer.
Deal focus: Remote working delivers for Glints
An outsourced talent management service that enables companies to recruit in far-flung markets has become the bulwark of Glints’ business on the back of COVID-19, underpinning a USD 50m Series D
Singapore's Docquity raises $44m Series C
Singapore-based Docquity, a networking service for more than 300,000 doctors across Southeast Asia, has raised USD 44m in Series C funding led by Japan’s Itochu Corporation.
China circuit board maker JLC raises $129m
Chinese circuit board manufacturing company Jialichuang (JLC) has raised CNY 900m (USD 129m) from State Development & Investment Corporation (SDIC), Eastern Bell Capital and Jianfa Xinxing Investment.
Novo Holdings leads $50m round for India's MedGenome
Novo Holdings, which manages the wealth of Denmark’s Novo Nordisk Foundation, has led a USD 50m investment in MedGenome, an India-based genetic testing business.
Rise Fund, Norwest lead $110m Series D for India's EarlySalary
TPG’s Rise Fund and Norwest Venture Partners have led a USD 110m Series D round for EarlySalary, which claims to be India’s largest consumer lending financial technology start-up.
Qiming leads Series C for China 3D dental printing start-up
Prismlab, a China-based 3D printing company specialising in dental applications, has raised CNY 200m (USD 29m) in Series C funding led by Qiming Venture Partners.
Singapore HR platform Glints raises $50m Series D
DCM Ventures, Lavender Hill Capital, and listed Japanese human resources business Persol Holdings have led a USD 50m Series D round for Glints, a Southeast Asia-focused recruitment and career development platform.
Korea's Gentle Monster backs China AR player Nreal
Nreal, a Chinese manufacturer of augmented reality (AR) glasses that resemble normal sunglasses, has received USD15m from South Korean eyewear brand Gentle Monster.
Kedaara buys minority stake in India's Oasis Fertility
Kedaara Capital has invested USD 50m for a significant minority stake in Oasis Fertility, a fertility treatment business with more than 26 centres across India.
