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CrossFund raises USD 1.5 million to expand platform to EMEA
The early-stage investment platform has secured USD 1.5 million in fresh funding from undisclosed investors at a valuation of USD 47 million.
CrossFund plans to utilize the funds to expand its operations in the EMEA region. It is headquartered in Singapore and Vietnam. —e27
Ergos raises USD 10 million in Series B round
The Indian agritech startup has raised USD 10 million in a Series B funding round, utilizing a mix of debt and equity financing. The funding round was led by Norway-based Abler Nordic and existing investors including Aavishkaar Capital, Chiratae Ventures, and Trifecta Venture Debt Fund. —Inc42
Sweef Capital secures over USD 37 million for maiden fund
According to DealStreetAsia, the women-led impact investment firm has secured the fourth close of its maiden fund, raising over USD 37 million.
Delos closes Series A round led by Monk’s Hill Ventures
Earlier this month, the Indonesian aquaculture technology company closed its Series A round, raising an undisclosed amount. The round was led by Southeast Asian venture capital firm Monk’s Hill Ventures.
Following the completion of its seed round in March 2022, Delos launched its farm productivity system, AquaHero, as a farming-as-a-service product. It will use funds from the latest round to continue its development of AquaHero, focusing on R&D to decrease production costs and improve disease monitoring, water quality management, feed conversion ratios, and yields.
Monk’s Hill Ventures was also the lead investor of Vietnamese insurtech company Saladin’s pre-Series A round, which was recently completed.
Recent deals completed in China:
- Shineon, an optoelectronics company, has completed a Series D1 financing round worth over RMB 1 billion (USD 137 million). This round constitutes a joint investment by two Chinese state-backed industry guidance funds to support Shineon’s technology R&D, scale up its production capacity, and expand its business. —36Kr
- Ligatech, a sports medicine company, has secured a nine-figure RMB sum in a Series D round, led by Cinda Kunpeng, with participation from Sino-Rock, CCB International Trade, and existing investor Legend Capital Management. Haoyue Capital served as the exclusive financial advisor. —36Kr
- Tanway, a light detection and ranging (LiDAR) technology company, has completed a new round of strategic financing led by Xiaomi, with participation from Argus Capital, InnoLight Technology Corporation, and various industry-focused capital firms. —36Kr
- Newrizon, a company specializing in new energy vehicles, has completed a new round of financing, raising over RMB 100 million (USD 13.7 million) from Fusion Capital. This follows Newrizon’s Series B+ round completed in February this year, which raised over RMB 100 million from NIO Capital. —36Kr
KWAP, Karang Foodie, Truckistan Technologies, and more led last week’s headlines:
- Kumpulan Wang Persaraan (KWAP), Malaysia’s public service retirement fund, has launched a MYR 500 million (USD 106.7 million) fund dedicated to investing in Malaysia’s startups and venture capital funds. This initiative aims to support the growth and development of the local startup ecosystem.
- Karang Foodie, a Singaporean company, has acquired Inseact, a Singapore-based company specializing in sustainable insect protein production for agriculture. This acquisition involved an all-cash sale, and is aimed at advancing the development of sustainable protein solutions.
- Truckistan Technologies, a Pakistan-based less-than-truckload (LTL) company, completed its seed funding round, raising nearly USD 1 million. The funding round saw participation from various investors, including Reflect Ventures, Orbit Startups (SOSV), Mentor’s Fund, Sarmayacar, Loyal VC, among others.
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