Finance News Highlights: Karzo Takes Pre-Series A Investment, Upstage Gathers USD 72 Million, Sumday Receives Seed Funding, and More Finance Successes
In the realm of tech startups, the past few weeks have seen a flurry of funding activities across Asia and Australia. Here's a roundup of some of the most notable developments:
Karzo Secures Pre-Series A Funding
Myanmar-based logistics startup, Karzo, has secured pre-Series A funding led by Orbit Startups, Cocoon Capital, and NP Consulting. The funding will enable Karzo to expand its market share in the Mekong region and develop the "KarzApp" for truckers, a move that was previously planned for a Series A funding round in 2021.
Chin Instrument Raises Series A+ Funding
Chin Instrument (Chinst), a Hefei-based instrument supplier, has raised an eight-figure RMB sum in a Series A+ funding round. The details of the investment have yet to be disclosed.
Staple Secures Pre-Series A Funding
Singapore-based AI-driven document processing solutions company, Staple, has secured USD 4 million in a pre-Series A funding round led by Wavemaker Partners.
Nibertex Closes Oversubscribed Funding Round
Deeptech startup, Nibertex, has closed an oversubscribed funding round led by Foxmont Capital Partners and a consortium of Southeast Asian families. The amount raised was undisclosed. The proprietary membrane developed by Nibertex is highly breathable and waterproof, free of per- and polyfluorinated substances (PFAS), and has the potential to promote sustainability in the textile industry.
Upstage Raises Series B Funding
South Korea-based AI startup, Upstage, has raised over USD 100 million to date, making it the most funded AI company in South Korea. The funding for Upstage was jointly led by SK Networks, KT, Korea Development Bank, Shinhan Venture Investment, Hana Ventures, Mirae Asset Venture Investment, and IBK Securities. Recently, Upstage also secured USD 72 million in a Series B funding round.
Luban Daojia Technology Secures Series B Funding
Luban Daojia Technology, a home furnishing and maintenance services platform, secured a nine-figure RMB sum in a Series B funding round led by Sinovation Ventures.
Sumday Secures Seed Funding
Tasmanian-based startup, Sumday, specializing in emissions accounting software, secured USD 5.3 million in a seed funding round led by Planeteer Capital. However, the details about the recent investment company acquiring a stake in Sumday remain undisclosed.
Aliena Raises Series A Funding
Singapore-based space tech company, Aliena, raised USD 5.6 million in a Series A funding round led by Wavemaker Partners.
Hengtron Nanotech Secures Series A Funding
Hengtron Nanotech, a lithium manganese iron phosphate supplier for battery producers, secured over RMB 100 million in a Series A funding round.
DiSilicon Secures Pre-Series A Funding
Zhuhai-registered chip manufacturer, DiSilicon, secured nearly RMB 100 million in a pre-Series A funding round.
ShareChat Raises Funding
Indian social media company, ShareChat, raised USD 49 million from existing investors led by Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures, and HarbourVest. The funding will be used to develop ad targeting technology and grow its consumer transaction business.
Toyota Ventures Establishes Funds
Toyota Ventures, the early-stage venture capital arm of Toyota, established two USD 150 million funds for investments in disruptive technologies and business models.
Intalight Completes Series D Funding
Intalight, an ophthalmic diagnostic and treatment systems producer, completed a Series D funding round, bagging over RMB 100 million.
Finogeeks Secures Series C Funding
Finogeeks, a developer of digital technology for enterprises, completed a Series C funding round, with Gaocheng Capital as the investor.
These funding activities underscore the growing interest in tech startups across Asia and Australia, as investors seek to capitalize on the region's potential for innovation and growth.
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