Header photo source: Secai Marche.
Secai Marche raises USD 2.1 million to expand in Southeast Asia
Secai Marche, a Japan-headquartered business connecting farmers directly with restaurants and retailers in Southeast Asia, has raised JPY 300 million (USD 2.1 million) to bring its Series A funding round to a total of USD 3.5 million, according to a report by e27.
The investors include Beyond Next Ventures, Spiral Ventures Asia, Mitsubishi UFJ Capital, Future Food Fund, Tsuneishi Shoji, Fukuoka Sonoriku, and Foodison co-CEO Toru Yamamoto.
Following a USD 1.6 million raise in January 2023 from Agribusiness Investment & Consultation, Spiral Ventures Asia Fund I, and Beyond Next Ventures, the funds will be used to expand Secai Marche’s fulfillment centers, enhance demand forecast accuracy using artificial intelligence, and optimize last-mile deliveries.
Ami Sugiyama, co-founder and CEO of Secai Marche, said that the company will also allocate part of the funds toward system development and marketing activities, with a view toward rapidly expanding its market share in Southeast Asia.
SG Growth Capital formed by EDBI and Seeds Capital to boost Singapore’s economic development
EDBI and Enterprise Singapore’s Seeds Capital have announced their merger to form SG Growth Capital, a joint venture aimed at leveraging their expertise and networks to grow portfolio companies and drive Singapore’s economic development.
This new entity will capitalize on EDBI’s track record of anchoring foreign growth-stage companies and nurturing tech-centric local companies, as well as Seeds Capital’s experience in supporting early-stage technology startups.
SG Growth Capital will enhance collaboration opportunities between local and foreign companies, develop deeper expertise in startup financing, venture building, and deep tech areas, and align investment focus with the economic priorities of the Singapore Economic Development Board (EDB) and Enterprise Singapore.
Graceview secures USD 1.5 million in funding
Graceview, a regulatory compliance company, has completed a USD 1.5 million funding round led by entrepreneur Patrick Linton and a consortium of founders and investors. The capital will be used to accelerate the commercial rollout of Graceview’s platform, which combines AI and legal expertise to deliver accurate, real-time compliance insights.
“The scale of the compliance problem for large [corporations] is rapidly increasing and existing solutions are difficult and expensive. By combining generative AI with senior lawyer oversight, we have shown that it’s now possible to continuously and cost-effectively manage regulatory change and deliver on our vision of making the whole process effortless,” said Simon Quirk, co-founder and CEO of Graceview.
Recent deals completed in China:
- Xpeng AeroHT, an affiliate company of Xpeng Motors dedicated to the development of flying cars, has announced it raised USD 150 million in its Series B1 funding round and has initiated a Series B2 round. The funds will be allocated to develop its flying cars, scale production, and facilitate commercial operations. The company plans to establish a factory in the Guangzhou Economic and Technological Development Zone to mass produce flying cars and commence presales of its “Land Aircraft Carrier” vehicle by the fourth quarter of this year.
- Contemporary Amperex Technology (CATL), the world’s largest battery maker, has invested hundreds of millions of USD in AutoFlight, an air taxi startup. The investment was made as part of a partnership aimed at enhancing the energy density and performance of electric vertical takeoff and landing (eVTOL) vehicle batteries, extending flight range and capacity. Founded in 2017, Autoflight has developed various eVTOL products and completed significant test flights this year. —Yicai Global
- Wenheyou, a Changsha-based chain specializing in Cantonese-style roasted meat, has raised nearly RMB 10 million (USD 1.4 million) in an angel round. The round was led by Hunan Qiantai Fund, which is associated with Wenheyou. The company plans to use the funds to enhance its supply chain and expand its store network. Wenheyou, established in 2021, focuses on quick-service meals featuring roast pork, roast duck, and other Cantonese-style dishes. —36Kr
- GCT, an industrial software provider, has secured over RMB 50 million (USD 7 million) through its pre-Series A and Series A funding rounds. The investors include SND Financial Holdings, Zhu Guodong, and Lingchuang Future. GCT plans to use the funds to support ongoing product innovation, expand product lines, and develop market strategies to reinforce its leadership in digital solutions for the medical device industry. —36Kr
- Bucatstate, a pet products brand, has completed a Series A funding round of nearly RMB 100 million (USD 14 million), led by existing investor Jinding Capital, with participation from Creation Venture Partners. —36Kr
- Stepin, a cross-border e-commerce brand specializing in jewelry products, has raised nearly RMB 10 million in an angel funding round co-led by Xinyue Capital and Jiujiu Capital. The funds will be used for R&D, channel expansion, and talent acquisition. Stepin leverages AI technology and China’s supply chain to offer fast, high-turnover product cycles. —36Kr
- Bona Biotechnology Group, specializing in membrane separation and purification technology, has secured nearly RMB 100 million in a Series A funding round led by Lucion Venture Capital, with participation from Jinan Hi-tech Finance Investment. Bona plans to use the funds for technology R&D, new factory construction, and capacity building. Established in 2012, the company focuses on solutions for the pharmaceutical and synthetic biology industries. —36Kr
APX Solutions, Mynt, Canva, and more led last Friday’s headlines:
- APX Solutions, a logistics technology company based in Thailand, secured an undisclosed amount in fresh investment from Japan’s SBI Ven Capital. The investment came through SBI’s joint fund with NTU Singapore’s NTUitive and South Korea’s Kyobo Securities.
- Globe Fintech Innovations (GFI), a leading Philippine mobile payments operator better known as Mynt, is set to receive USD 393 million from the banking arm of Mitsubishi UFJ Financial Group (MUFG).
- Canva, Australia’s largest private technology company, made its latest acquisition, purchasing Leonardo AI for over USD 320 million.
If there are any news or updates you’d like us to feature, get in touch with us at: hello@kr-asia.com.