InfraCo Asia fuels Dat Bike’s growth with USD 4 million convertible loan
Vietnam’s electric two-wheeler scene just got a significant boost. InfraCo Asia, part of the Private Infrastructure Development Group (PIDG), has handed over a USD 4 million convertible loan to Dat Bike, Vietnam’s fastest-growing electric motorbike maker.
According to InfraCo Asia, Dat Bike is Vietnam’s only vertically integrated electric motorbike manufacturer, crafting its products from the ground up with over 90% of parts sourced locally. The company has released four models to date, sold directly to consumers and businesses alike.
With InfraCo Asia’s backing, Dat Bike is planning to double its production capacity, with the funds driving facility expansion, tool optimization, and a leap in automation. The company is also set to deliver over 30,000 bikes in the next two years, which could cut nearly 26,000 tons of carbon emissions annually.
SeaTown’s USD 1.3 billion credit fund is a vote of confidence in Asia’s direct lending
SeaTown Holdings International, the private credit arm of Singapore’s Temasek Holdings, has pulled in USD 1.3 billion for its second private credit fund, according to Bloomberg. With insurers, endowments, family offices, and a mystery Middle Eastern investor backing the effort, SeaTown’s private credit strategy is now managing more than USD 2.5 billion.
After a rocky start to the year, with global lending hitting a low, SeaTown’s milestone suggests that investors are seeing brighter days ahead. The firm has already deployed over 70% of the capital, eyeing midteen returns and double-digit yields. Asia’s growing economies, especially in places like Vietnam and India, are ripe for the picking.
Dreame launches Empyrean Venture, its CVC arm
Dreame Technology, known for its smart cleaning gadgets, is taking a bold step into the world of artificial intelligence and robotics with the launch of Empyrean Venture, its new corporate venture capital (CVC) arm.
The new venture has already seen a strong start, having already raised capital for its debut funds. This includes a growth strategic fund, anchored by Dreame, which is quickly approaching its RMB 10 billion (USD 1.4 billion) target. Additionally, the early-to-mid-stage incubation fund recently reached its first close, with plans to hit a final close at RMB 1 billion (USD 140.4 million).
With this move, Dreame joins the ranks of Chinese giants like Huawei and Tencent, who are similarly ramping up their CVC efforts to drive innovation and bolster their ecosystems. —36Kr
Talent New Energy’s solid-state batteries draw big names in Series B round
Solid-state batteries are the next big thing, and Talent New Energy is leading the charge. The company has just secured a nine-figure RMB sum in a Series B funding round, with heavyweights like Chang’an Automobile’s Anhe Fund and China South Industries Group’s funds leading the investment.
Since its founding in 2018, Talent New Energy has been focused on pushing the boundaries of solid-state battery technology. Now, with this fresh injection of capital, the company is set to scale production and continue innovating.
Its new Chongqing facility is almost at full capacity, and with 12 gigawatt-hour of additional production on the horizon, Talent is poised to make its mark on the automotive industry, driving forward the transition to safer, more efficient batteries. —36Kr
Inflync takes flight with angel funding for eVTOL innovation
The skies above China are set to get even busier. Inflync, an innovative developer of electric vertical takeoff and landing (eVTOL) aircraft, has secured an eight-figure RMB sum in its latest angel round of financing, led by Qizhou Capital with participation from Shanghai Angel Investment.
Inflync is a standout in the eVTOL space, marking its place as the first in China—and only the second globally—to achieve transition flight with an aircraft featuring a tilt-wing ducted fan configuration.
This fresh funding will propel the company forward, fueling further testing and manufacturing as it solidifies its position at the cutting edge of urban air mobility. Inflync will channel these funds into the development of its L600 prototype, poised to be the company’s next major milestone. —36Kr
Earth VC, Sarana AI, Shift, and more led yesterday’s headlines:
- Earth Venture Capital (Earth VC), a climate tech venture capital firm based in Vietnam, invested in the USD 27 million Series A funding round of Aalo Atomics. The round was co-led by 50Y and Valor Equity Partners, with Earth VC participating alongside Harpoon Ventures, Alumni Ventures, and Preston-Werner Ventures.
- Sarana AI, a human resource tech startup based in Indonesia, raised an undisclosed amount in a pre-seed funding round led by Fortress Data Services (FDS).
- Shift, an Australian provider of credit and payment solutions for businesses, secured AUD 35 million (USD 23.7 million) in a Series D funding round led by Peak XV Partners.
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