Crimson Education raises SGD 53.5 million in Series D funding
Crimson Education, an edtech company with a significant presence in Singapore, has raised SGD 53.5 million (USD 40.2 million) in a Series D funding round led by Movac, with participation from HEAL Partners, Icehouse Ventures, US News, Five Sigma, and HighSage Ventures.
Known for its personalized education consulting and online learning platforms, Crimson plans to use the funds to expand its offerings in Singapore, focusing on academic excellence and global opportunities for students.
The funds will further support Crimson’s online high school, the Crimson Global Academy (CGA), enhancing its advanced placement (AP) course offerings to help students strengthen their academic profiles for college admissions.
MUIP invests in Japanese ridesharing platform Newmo
MUFG Innovation Partners (MUIP), the venture capital arm of Mitsubishi UFJ Financial Group (MUFG), has made an investment in Newmo, a Japan-based startup specializing in taxi and ridesharing services. The amount was not disclosed.
This investment aims to foster collaboration between Newmo and MUFG’s business units, enhancing service offerings for both individual riders and corporate clients seeking transport solutions.
Newmo, established to address Japan’s rising demand for flexible transportation options amidst labor shortages and an aging taxi driver workforce, partners with taxi operators nationwide to support diverse work styles for drivers. Through this investment, MUIP and Newmo will explore joint service expansions targeting Newmo’s user base.
Recent deals completed in China:
- Keli Kouyu, an artificial intelligence-driven English learning app, has raised an undisclosed eight-figure RMB sum in an angel funding round led by Next Capital, with Yuanhe also participating and serving as exclusive financial advisor for this round and subsequent fundraising efforts. The company, founded in 2023, aims to allocate the fresh capital toward team expansion, technology development, and marketing. —36Kr
- Conan AI, a technology company focused on AI-enabled educational tools for children, has raised an undisclosed eight-figure RMB amount in an extended angel round of financing led by Tiger Capital, with China Peakedness providing long-term financial advisory. The funds will be directed toward product manufacturing, supply chain optimization, marketing, and bolstering its algorithms and computing capabilities. —36Kr
- PepperHi Global Ventures, a venture studio bridging China and global markets, has completed an angel funding round led by Wisee Capital, with additional participation from TusHoldings Seeds Fund and Kairous Capital. This funding will support its expansion across Southeast Asia. PepperHi will also use the capital to enhance its support for Chinese companies navigating international markets and forming cross-border partnerships. —TechNode Global
Cards, Jollibee, The Hosteller, and more made recent headlines:
- Cards (stylized as “CARDS”), an Indonesian edtech startup, raised an undisclosed amount in a seed funding round led by Katha VC, with support from DS/X Ventures and EduSpaze.
- The parent company of Philippine fast food giant Jollibee acquired Hong Kong’s Tim Ho Wan chain in a USD 15.3 million deal, securing full ownership by purchasing Titan Fund’s remaining 8% stake.
- The Hosteller, an Indian backpacker hostel brand, completed a Series A funding round, securing INR 480 million (USD 5.7 million) in equity led by V3 Ventures, with participation from Synergy Capital Partners, Real Time Angel Fund, and individual investors.. An additional INR 160 million (USD 1.9 million) was raised in venture debt from Black Soil.
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