Technology
Japan's MPower backs pet devices maker
Japan’s MPower Partners, which was set up last year to make environmental, social, and governance (ESG) investments, has joined a USD 10.5m Series B round for local pet devices maker Rabo.
Elevation raises $670m for latest India VC fund
India-focused Elevation Capital has closed its latest early-stage fund on USD 670m on the back of a 100% increase in the firm’s pace of deployment in the past 12 months.
Korea Web3 gaming platform gets $34m
Krust Universe, a start-up incubation and investment unit of Korean internet giant Kakao, has led a USD 34m round for local Web3 gaming platform Iskra.
China's XVC raises $274m for third US dollar fund
Beijing-based venture capital firm XVC has raised USD 274m for its third US dollar-denominated vehicle. It brings overall assets under management to USD 1.2bn.
SeaX wins Thai corporate support for $60m second fund
SeaX Ventures – or Southeast Asia Exponential Ventures – has closed its second early-stage fund on USD 60m, surpassing the USD 50m target.
India's Omnivore launches $130m agtech VC fund
India’s Omnivore Partners has launched its third domestic agricultural technology VC fund with a target of USD 130m.
Japan's Drone Fund closes third vintage on $85m
Japan’s Drone Fund has closed its third air mobility-dedicated vehicle at JPY 10.5bn (USD 85m), beating a target of JPY 10bn.
China's METiS Pharmaceuticals raises $150m
METiS Pharmaceuticals, a Hangzhou-based drug formulation company has raised USD 150m through two funding rounds led by PICC Capital and China Life PE.
Deal focus: Nio Capital gets real with Nreal
Nio Capital invested in Nreal with a view to seeing the Chinese start-up’s augmented reality glasses feature in smart cockpits in next-generation cars. The company is now pushing for scale
Fund focus: India's HealthQuad bulks up for Fund II
Indian health-tech VC firm HealthQuad has achieved a quantum leap in capacity to invest with its second vintage as foreign capital discovers the local opportunity set and thinks globally about impact
Taiwan's Gogoro trades up on NASDAQ following SPAC merger
Gogoro, a Taiwan-based start-up that has developed a battery-swapping technology for scooters, gained 10% on its NASDAQ trading debut following the completion of a merger with a special purpose acquisition company (SPAC) backed by the former CIO of Morgan...
East Ventures names new managing partner
Indonesia’s East Ventures has promoted Wai Kit Koh, one of the founders of Temasek Holdings’ Pavilion Capital, to managing partner.
Deal focus: India EV set for mass mobility boom
India’s EverSource Capital sees a fast track to auto industry electrification in the B2B fleet services of Lithium Urban Technologies. The company plans more than fivefold growth in the next few years
India's Games24x7 raises $75m, becomes unicorn
Malabar Investment has led a USD 75m funding round for Games 24x7, an India-based mobile games operator, at a valuation of USD 2.5bn.
India's LC Nueva hits first close on debut VC fund
LC Nueva Investment Partners, a partnership between Singapore’s Lighthouse Canton and India’s Nueva Capital, has hit a first close of about USD 30m on its debut VC fund. The target is USD 40m.
China cybersecurity provider ThreatBook raises $47m
Beijing-based cybersecurity solutions provider ThreatBook has raised CNY 300m (USD 47m) in an extended Series E round led by CDH Investments, featuring existing investor Star Road Ventures.
China MSME financier raises $70m
Micro Connect, a China-based provider of financing to micro, small and medium-sized enterprises (MSMEs), has raised USD 70m in Series B funding.
Insight leads Series C for UK, India-based Builder.ai
Insight Partners has led a USD 100m Series C round for Builder.ai, a low-code/no-code app development platform that has a significant back-office presence in India.
Alibaba leads Series C extension for China AR start-up Nreal
Nreal, a Chinese manufacturer of augmented reality (AR) glasses that resemble normal sunglasses, has raised an extended Series C of USD 60m led by Alibaba Group.
Riverside backs Australia events software provider
The Riverside Company has invested an undisclosed sum in EventsAIR, an Australian events management software provider for in-person, virtual, and hybrid events.
China EV maker Eezi raises $78m
Shenzhen-based electronic vehicle (EV) manufacturer Eezi has raised a CNY 500m (USD 78m) pre-A round led by China Merchants Venture.
GP profile: DCM
Investing in China, Japan, and the US out of a single global fund, DCM sticks to a formula of small funds, concentrated portfolios, early-stage deals, and collaborative cross-border teams
Deal focus: India e-sports early-mover makes waves
Loco is positioned to take a leadership role in India’s up-for-grabs game streaming industry following a sizeable Series A round and promising early traction in community building
BNPL: Voodoo economics?
Credit-driven e-commerce is coming to developing Asia with an attractive supply-demand equation and a mix of macro and business-level risks. Start-ups are courting incumbents, not disrupting them