Syfe makes non-binding bid to acquire Selfwealth for AUD 65 million
Syfe, a savings and investment platform in the Asia Pacific, has submitted a non-binding indicative offer to acquire Selfwealth, one of Australia’s publicly listed investment platforms, for AUD 65 million (USD 40.8 million) in cash.
In a statement, Syfe said the move aligns with its Series C1 growth strategy, which prioritizes acquisitions to expand its market footprint and product offerings. With operations in Singapore, Hong Kong, and Australia, Syfe plans to integrate Selfwealth’s platform while maintaining its existing operations and progressively enhancing its services through Syfe’s proprietary technology and expertise.
“Adding Selfwealth to the Syfe ecosystem [would strengthen] our foothold in the market and accelerate our vision of building Asia Pacific’s most comprehensive digital wealth platform,” said Dhruv Arora, Syfe’s founder and CEO.
If completed, the acquisition will provide Selfwealth’s customers with access to Syfe’s broader suite of investment products and technology-driven solutions while leveraging Syfe’s momentum across the region.
Malaysia’s KMP invests in Swift Bridge Technologies
Kumpulan Modal Perdana (KMP), a tech-focused venture capital firm backed by Malaysia’s Ministry of Finance, has invested in Swift Bridge Technologies, a developer of high radio frequency (RF) connectivity solutions. The financial terms were not disclosed.
Founded in 2012, Swift Bridge Technologies serves the semiconductor, telecommunications, automotive, biomedical, and industrial automation industries. Its high-precision RF cables operate up to 110 gigahertz, supporting applications in 5G, spectrum analyzers, and network testers.
Swift Bridge plans to use the funding to develop next-generation RF cables, expand its R&D operations from the US to Malaysia, and secure electric vehicle system certification through a collaboration with SIRIM, Malaysia’s national standards body.
SoftBank in advanced talks to acquire chipmaker Ampere
SoftBank Group is in advanced discussions to acquire Ampere Computing, a chip design company backed by Oracle, in a deal that could value Ampere at USD 6.5 billion, including debt.
The Japanese conglomerate, through its chip unit Arm Holdings, has previously expressed interest in acquiring Ampere to capitalize on the surge in semiconductor demand fueled by artificial intelligence. While discussions are progressing, sources cited by Bloomberg cautioned that a deal is not yet finalized and could still face delays or collapse.
A successful acquisition would integrate Ampere’s data center-focused processors, which are based on Arm’s architecture, into SoftBank’s portfolio. Oracle, which owns a 29% stake in Ampere, has also signaled its intent to increase its holdings through future investment options.
Sika acquires Singapore-based urban greening firm Elmich
Sika, a multinational specialty chemicals company, has acquired Elmich, a Singapore-headquartered supplier of green roof and urban greening solutions. The acquisition strengthens Sika’s roofing and waterproofing business across the Asia Pacific, particularly in high-growth markets such as Singapore and Australia.
Elmich is known for its innovative and sustainable urban greening systems, with products widely used in commercial and residential developments. The company collaborates with architects and developers to integrate green roofs and vertical gardens into urban landscapes. Its solutions are reportedly manufactured entirely from recycled materials.
Sika sees the acquisition as an opportunity to expand its specification-driven product portfolio. The deal is expected to create cross-selling opportunities by integrating Elmich’s urban greening systems with Sika’s advanced waterproofing and roofing technologies.
Qeen.ai secures USD 10 million in seed funding to expand e-commerce solutions
Qeen.ai, a Dubai-based provider of agentic AI solutions for e-commerce businesses, has raised USD 10 million in seed funding. The round was led by Prosus Ventures, with participation from Wamda Capital, 10x Founders, and Dara Holdings, bringing the company’s total funding to USD 12 million.
Founded in 2023, Qeen.ai develops autonomous AI agents that are said to optimize outcomes based on user behavior patterns. Its solutions aim to help e-commerce businesses automate key functions such as content creation, marketing, and conversational sales, enabling merchants to scale beyond traditional AI-driven automation.
The fresh capital will be used to enhance the platform’s capabilities, expand its team, and grow its customer base across the MENA e-commerce market.
Lead investor Prosus Ventures projects that MENA’s e-commerce sector will reach USD 50 billion this year, with Saudi Arabia and the UAE driving growth. “AI agents are redefining global marketplaces,” said Robin Voogd, head of Middle East investments at Prosus Ventures.
HairOriginals secures USD 5 million in Series A funding
HairOriginals, an Indian D2C hair extensions brand, has raised USD 5 million in a Series A funding round, bringing its total funding to USD 7.2 million. The round was co-led by 12 Flags Consumer Holdings and the Anicut Growth Fund, with additional investment from Lenskart co-founder Peyush Bansal.
The funds will be used to expand the company’s service footprint to 40 cities, launch self-owned experience centers, and double down on R&D to introduce new products.
Recent deals completed in China:
- Azimuth Technology, a Shanghai-based indoor positioning technology company, has secured nearly RMB 100 million (USD 14 million) in a Series A funding round. The round was led by a BeiDou research institute under China North Industries Group Corporation (Norinco), with Shenzhen Capital Group (SCGC) and Shanghai Ruihe Asset Management participating. Azimuth focuses on integrating indoor navigation with outdoor satellite positioning systems to provide unified high-precision positioning solutions. —36Kr
- Lexangre, an AI-powered consumer hardware startup, has raised nearly RMB 200 million (USD 28 million) in an angel round of financing. The investment was led by IDG Capital, with Monolith, Matrix Partners, ZhenFund, HongShan, and Vitalbridge participating. —36Kr
- Tongee Medical Technology, a Hangzhou-registered medtech company, has raised nearly RMB 100 million in a Series C funding round from Everest and Quzhou Lushi Fund. The funding will be utilized for market expansion, regulatory clinical trials, and capacity building. Tongee specializes in developing medical devices for metabolic diseases such as obesity, diabetes, and fatty liver disease. —36Kr
Ampotech, Nibertex, Yuwell, and more made recent headlines:
- Ampotech, a Singapore-based energy management solutions provider, has secured an undisclosed investment from Clime Capital’s Southeast Asia Clean Energy Fund II (SEACEF II).
- Nibertex, a deep tech startup specializing in waterproof breathable membranes, has closed its pre-Series A funding round with backing from Foxmont Capital Partners, ADB Ventures, and regional family offices.
- Yuwell Medical, a China-based manufacturer of home-use medical devices, has announced a USD 27.2 million investment in Inogen through its Hong Kong subsidiary. Yuwell will acquire a 9.9% stake in Inogen’s common stock as part of the deal.
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