Menyala leads USD 4 million investment in Authentick
Menyala, a venture builder founded by Temasek, has led a USD 4 million investment in Authentick, a Singapore-based digital collectibles startup.
Authentick is the creator of Authentickator, a platform designed to streamline the browsing, purchasing, and verification of digital collectibles without the need for a wallet. The platform has recently emerged from stealth, announcing partnerships with Lazada, TikTok, and Shopify to enable users to purchase digital collectibles using traditional payment methods directly on these platforms.
Authentick plans to roll out exclusive offerings for its brand partners to access a broader audience. It is aiming to work with brands that want to enter the Web3 space, offering a channel to distribute digital collectibles through its platform and major online retailers.
“We are excited by what the Authentick team is building to create access and enable ownership of digital assets in an underserved market, which will pave the way for mass Web3 adoption,” said Parin Mehta, venture partner at Menyala.
LXA secures USD 10 million in seed round
The Singapore-based mortgage-focused tech startup has secured USD 10 million in a seed funding round led by New Enterprise Associates (NEA). The round also saw participation from Openspace Ventures and EDBI.
“As Asia’s first modern mortgage asset manager, the LXA team has figured out how to coordinate the complex web of people, processes, and systems to create long-term change and drive significant economic value,” said Andrew Schoen, partner at NEA.
Traveligo bags USD 25 million, rebrands to Gother
Traveligo, a Thai online travel agency, has rebranded to Gother following the completion of a USD 25 million funding round. The funds were invested by Beacon Venture Capital, a subsidiary of Kasikornbank.
The company has also announced that it will expand its services overseas, having previously focused only on the domestic market. South Korea, Japan, and Singapore have been named as the initial markets that Gother will target.
It will partner with TakeMeTour, an online marketplace for tours and activities in Thailand, while also tapping into the user base of K Plus, the lifestyle superapp of Kasikornbank. —Web In Travel
Singlife receives SGD 180 million investment from Sumitomo Life
The Singapore-based financial services company has received an investment of around SGD 180 million (USD 132.7 million) from Japanese insurance firm Sumitomo Life.
Sumitomo Life holds around 27% of Singlife’s total shares following the completion of this deal. Singlife will utilize the newly raised capital to support its business expansion plans.
Hyundai Mobis secures USD 940 million investment to establish North American electrification hub
Hyundai Mobis, a South Korean car parts company under the Hyundai Motor Group umbrella, has secured an investment of USD 940 million to establish a new electrification hub in North America.
The deal comprised a low-interest, ten-year financing arrangement with seven undisclosed international financial institutions, further facilitated by a credit guarantee from the Korea Trade Insurance Corporation, an export credit agency.
Recent deals completed in China:
- Guozi Robotics, a Hangzhou-based robotics company, has completed a pre-Series A funding round, raising an eight-figure RMB sum. It will use the funds for product R&D and sales activities. —36Kr
- Enlogics, a Shanghai-based synthetic biology company, has secured around RMB 100 million (USD 13.7 million) in a pre-Series A funding round led by Fontus Capital. The round also saw participation from InnoPinnacle Fund, Furong Capital, Essor Capital, Kaishi Chengxing, and HJ Investment. The company will utilize the funds to establish new production facilities, support its R&D activities, and expand its team. —36Kr
- Tanda New Material, a Shenzhen-based producer of carbon-utilizing cementitious materials, has raised an eight-figure RMB sum in a pre-Series funding round from Linear Capital, with 2060 Advisory serving as the exclusive financial advisor. The company will utilize the funds to supplement its working capital while allocating a portion of the funds for business expansion and new projects. —36Kr
- Wonsor, a Shenzhen-based industrial sensor manufacturer, has completed a pre-Series A funding round, raising an eight-figure RMB sum. This round of financing was led by Cowin Capital with the participation of Keli Sensing Technology, Xiaofanzhuo, and existing investor Linear Capital. Qichen Capital acted as the exclusive financial advisor. The funds will be used for product R&D and market expansion. —36Kr
Latest venture capital deals in India:
- Xpressbees, a Pune-headquartered logistics company, has secured USD 80 million from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of the Ontario Teachers’ Pension Plan. The company will utilize the newly raised funds to enhance its platform. —Inc42
- Sequretek, a Mumbai-based cybersecurity company, has raised USD 8 million (INR 666 million) in a Series A funding round led by Omidyar Network India. Comprising a mix of equity and debt funding, the round also saw participation from Alteria Capital and the Narotam Sekhsaria Family Office. The company raised USD 5.5 million in equity, while the remaining USD 2.5 million was secured through a debt facility. The funds will be used to scale Sequretek’s operations and execute its go-to-market strategies. —VCCircle
- Vaaree, an online marketplace for home products, has secured USD 4 million (INR 333 million) in a seed funding round led by Surge by Peak XV Partners (formerly Sequoia Capital India and Southeast Asia). The round also saw participation from PeerCapital, All In Capital, and Better Capital. Vaaree will utilize the funds to hire talent and improve its platform’s user experience. —VCCircle
- Bimaplan, an embedded insurance platform, has raised INR 290 million (USD 3.5 million) in a pre-Series A funding round led by Orios Venture Partners. The round also saw participation from existing investors Finsight Ventures and 2am VC. The company will utilize the funds to enhance its technology, expand its product portfolio, and launch new verticals. —VCCircle
- OnFinance, a Bengaluru-based fintech startup, has raised INR 87 million (USD 1.05 million) in a seed funding round jointly led by Silverneedle Ventures and the Indian Angel Network (IAN). The round also saw participation from LetsVenture Fund, SSV Fund, and Kunal Shah (Cred), amongst others. It will use the funding to expand its engineering team and scale its solution globally, primarily in the US. —VCCircle
- SecurWeave, a Hyderabad-based cybersecurity startup, has raised around INR 28 million (USD 336,000) in a seed funding round from IAN. The startup plans to use the funds to enhance its sales and field support capabilities, and invest in R&D. —VCCircle
Perfect Nature, Primer, Swarm, and more led yesterday’s headlines:
- Perfect Nature, a Singapore-based healthcare and lifestyle company, raised SGD 1 million (USD 737,000) in seed funding for Snuugo, its subsidiary brand that designs and manufactures smart wearable breast pumps. Angel investors Peter Tan and Willy Koh led the funding round.
- Primer, a payments and commerce infrastructure provider, received an undisclosed investment from Chinese tech giant Tencent. This deal follows Primer’s rapid expansion across Europe, the US, and the Asia Pacific, along with the acquisition of new clients.
- Swarm, a Philippine community-focused talent network, secured PHP 62 million (USD 1.1 million) in a pre-seed funding round. Hustle Fund and Plug and Play Tech Center led the investment with the support of various angel investors.
If there are any news or updates you’d like us to feature, get in touch with us at: hello@kr-asia.com.