Qarbotech raises USD 1.5 million in seed extension round
Qarbotech, a Malaysia-based climate tech startup, has raised USD 1.5 million in a seed extension round to scale its photosynthesis enhancement technology across Southeast Asia. The round was led by 500 Global, with participation from Better Bite Ventures, ID Capital, EQT Foundation, and Epic Angels Limited.
The funds will be used to expand Qarbotech’s operations across markets, including Indonesia, Thailand, and Vietnam, and to establish a new manufacturing facility in Malaysia capable of producing 100,000 liters of its flagship product, QarboGrow, each month.
Qarbotech’s technology uses carbon quantum dots to boost crop yields by up to 60%, reduce fertilizer use, and promote sustainable agriculture.
Rey secures USD 3.5 million in additional seed funding
Rey, an Indonesian insurtech startup, has secured an additional USD 3.5 million in seed funding, led by new investors CyberAgent Capital, Arthazen Capital, and PT Gametraco Tunggal, according to DealStreetAsia.
Existing investors, including the Trans-Pacific Technology Fund (TPTF), Genesia Ventures, and Reycom Document Solusi (RDS), who led Rey’s first seed round in July 2022, also participated.
Rey will use the capital to expand its health protection model into an end-to-end health service offering, integrating preventive and curative care through health memberships. The company is also providing technology solutions to conventional insurance firms, transforming the third-party administration (TPA) model by incorporating active health management and real-time engagement in claims processing and health services.
Nio receives RMB 3.3 billion in funding from Hefei-backed investors
Nio, one of China’s leading electric vehicle manufacturers, has secured RMB 3.3 billion (USD 462 million) in new capital for one of its subsidiaries, according to SCMP. The investors include a consortium backed by the Hefei government, including Hefei Jianheng New Energy Automobile Investment Fund Partnership, Anhui Provincial Emerging Industry Investment, and CS Capital.
The investment will help Nio accelerate its product and technology development. Nio also plans to invest RMB 10 billion (USD 1.4 billion) in newly issued shares of its subsidiary, Nio China, although its stake in the unit will decrease from 92.1% to 88.3%. The fresh funding positions Nio to advance its multi-brand strategy and sustain long-term growth.
Other recent deals completed in China:
- Rokid, a Hangzhou-based tech company specializing in augmented reality (AR) wearables, has bagged RMB 100 million (USD 14 million) from Jiangxia Science and Technology Investment. —36Kr
- Bohr Intelligent Manufacturing Technology, an industrial vision inspection specialist, has raised tens of millions of RMB in a Series A funding round led by KGI Financial Holding. The funds will fuel efforts to win major client orders and ramp up development in semiconductor inspection technology. Founded in 2020, Bohr focuses on defect detection using optical systems and AI algorithms. Its client list features heavyweights like Google, Xiaomi, and Bosch. —36Kr
- IntelliSource, an emerging player in Shanghai’s AI ecosystem, has completed its seed round of financing. The funds will back the rollout of its AI-driven platform designed for energy management across various sectors, including industry and real estate, among others. —36Kr
- Yihang AI, an autonomous driving technology company, has raised hundreds of millions of RMB in a Series C funding round. Investors such as BAIC Capital, Zhejiang Jinkong Investment, and Deqing Industrial Investment took part in this round. Yihang will allocate the capital toward advancing its driver assistance systems for future rollout. —36Kr
Whatfix, Supabase, Sleek, and more led recent headlines:
- Whatfix, an Indian software company, raised USD 125 million in a Series E funding round led by Warburg Pincus, with participation from SoftBank Vision Fund 2.
- Supabase, an open-source backend-as-a-service company, bagged USD 80 million in a Series C funding round co-led by Peak XV Partners and Craft Ventures. Avra Capital and existing investors, including Coatue Management, Felicis, and Y Combinator, also participated.
- Sleek, a provider of back office services for small and medium enterprises, secured USD 5 million in debt financing from the Fintech Nation Fund.
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