Lenovo’s Leshines secure USD 50 million from ewpartners
Leshines, the supply chain solutions arm of Lenovo, has secured USD 50 million from ewpartners (formerly eWTP Arabia Capital), marking the first transaction under the investor’s second growth-stage fund.
The deal, announced at Saudi Arabia’s Future Investment Initiative, aims to localize Leshines’ capabilities within the country, strengthening Saudi Arabia’s position in global trade and supply chain resilience.
Leshines is also considering entry into the KSA-Sino Logistics Special Economic Zone at King Salman International Airport, managed by ewpartners, which will house logistics and industrial facilities across 4 square kilometers.
Ampd Energy closes USD 27.3 million Series B round
Ampd Energy, a developer of battery energy storage systems (ESS) for heavy industries, has secured USD 27.3 million in an oversubscribed Series B funding round, co-led by Kibo Invest and Openspace, with existing investors including MTR Lab and Taronga Ventures.
The funds will be used to expand Ampd’s carbon reduction solutions across new verticals, such as mining and manufacturing, and regions including the Middle East and the US. Ampd also plans to leverage new investor partnerships to deepen its market reach and technical innovations.
Ampd’s ESS units, such as the “Ampd Silo” and “Enertainer,” promise up to 90% reduction in carbon emissions compared to diesel, advancing the company’s clean energy adoption goals.
MTR Lab backs Ensonic to scale AI-driven acoustic detection technology
Hong Kong’s MTR Lab has invested in Ensonic, a Chinese artificial intelligence startup specializing in acoustic detection technology for industrial and transportation applications. The amount raised was not disclosed.
This investment marks MTR Lab’s initial foray into mainland China, with a focus on expanding Ensonic’s R&D and supporting its alignment with international standards.
Ensonic’s technology leverages proprietary microphone arrays and AI-driven acoustic analysis to enhance predictive maintenance, benefiting applications in sectors such as power and transportation.
The Z Label secures USD 11.4 million to create tech-driven products for Gen Z consumers
The Z Label has secured USD 11.4 million in a funding round led by Beyond Ventures to accelerate the development of tech-centric products targeting Generation Z consumers.
The Hong Kong-based venture builder will utilize the funds to expand its portfolio by developing products in-house and co-incubating with partners in AI, big data, and blockchain.
Modifi raises USD 15 million to boost SME cross-border financing in Asia
Modifi, a buy now, pay later platform, has raised USD 15 million from the SMBC Asia Rising Fund, with participation from existing investors including Maersk and Intesa SanPaolo.
The funding coincides with a memorandum of understanding between Modifi and SMBC, focusing on digital solutions to support Asian small and medium enterprises in scaling their international trade operations.
Modifi, which offers flexible payment terms and liquidity solutions to SMEs, will use the capital to expand its presence in high-growth markets, particularly China and India.
Dash Electric completes oversubscribed seed round to scale in Indonesia
Indonesian startup Dash Electric has closed an oversubscribed seed funding round co-led by The Radical Fund and Bali Investment Club, according to TechNode Global. SEEAA, Aksara Ventures, and Gojek co-founder Kevin Aluwi also participated.
Dash, which offers electric vehicle infrastructure and fleet solutions, will use the funds to enhance its fleet management software, onboard drivers, and expand its EV fleet.
Swiggy bags USD 606 million in anchor round as it prepares for IPO
Swiggy, one of India’s leading food delivery and quick commerce platforms, has bagged approximately USD 606 million from over 75 anchor investors ahead of its anticipated USD 1.35 billion IPO, according to TechCrunch. Key investors include global giants like BlackRock, Fidelity, and BNP Paribas, alongside prominent Indian institutions such as SBI and ICICI.
Swiggy is seeking a USD 11.3 billion valuation as it prepares to compete with major rivals like Zomato in the public market. The anchor round, oversubscribed by 25 times, highlights strong investor confidence in Swiggy’s growth prospects within India’s competitive food delivery sector.
Insider, Capital C, Funding Societies, and more made recent headlines:
- Insider, a platform redefining customer engagement, raised USD 500 million in a Series E funding round led by General Atlantic.
- Capital C Corporation, a Singapore-based firm providing financial services to the underserved, secured pre-Series A funding from Phillip Private Equity, Azure Capital, and high-net-worth individuals. The amount raised was not disclosed.
- Funding Societies, a digital financing platform for micro, small, and medium enterprises (MSMEs) in Southeast Asia, signed a USD 100 million credit facility with HSBC, marking their third collaboration.
If there are any news or updates you’d like us to feature, get in touch with us at: hello@kr-asia.com.