Deals in brief: Temasek Trust entities fund five startups under Amplifier program, Pathgen scores funding, Diagnos acquires Asa Ren, and more

From The KrAsia

Temasek Trust entities fund five startups under Amplifier program
The Centre for Impact Investing and Practices (CIIP) and Philanthropy Asia Alliance (PAA), ecosystem entities of Temasek Trust, have jointly announced the first cohort of mentees for its Amplifier mentorship program.

Organized to nurture commercial viability in impact-focused startups and scale their impact in Asia, the program will provide each of the five startups with up to SGD 250,000 (USD 183,600) of catalytic funding, financed with the support of the Mastercard Center for Inclusive Growth, the program’s impact innovation partner.

The five startups are:

  • Circ, a US-based company developing technology solutions to recycle fashion waste into usable fibers and textiles.
  • GRST, a Hong Kong-based startup that manufactures sustainable lithium-ion batteries using a water-based electrode coating process.
  • Mayani, a Philippines-based agritech startup that provides sustainable pathways to markets through quality agricultural inputs and alternative rural financing.
  • Mycotech Lab (MYCL), an Indonesia-based biotechnology company that is developing Mylea, a leather-like material made from agricultural waste.
  • Sampangan, an Indonesia-based startup that converts waste into sustainable materials, offering solutions catered to the water treatment, agriculture, and poultry industries.

PathGen scores funding from East Ventures and Royal Group Indonesia
PathGen, an Indonesia-based biotechnology startup specializing in genomics in healthcare, has raised an undisclosed amount of funding from East Ventures and Royal Group Indonesia. The funding will be used for R&D, technology advancement, and market expansion.

The startup provides a range of low-cost molecular diagnostics tools for cancer and other diseases in Indonesia. Based predominantly on polymerase chain replication (PCR), PathGEn’s kits can be used to identify familial risks, determine prognosis, and predict treatment responses.

Diagnos acquires Asa Ren for USD 24 million
Diagnos Laboratorium, a Jakarta-based laboratory chain, has announced plans to acquire Asa Ren, a DNA testing company, according to Tech in Asia. The deal entails Diagnos acquiring a 98% stake in Asa Ren at a valuation of USD 24 million, comprising 90% equity and 10% cash.

Earth Venture Capital backs Swedish-based Blykalla

Blykalla, a Swedish-based producer of small modular reactors (SMRs), has raised SEK 80 million (USD 7.33 million) in its latest funding round. The round was led by Nucleation Capital and notably saw participation from Vietnam-based Earth Venture Capital, alongside Farvatn and other private investors.

The capital raised will be used by Blykalla to industrialize its advanced nuclear reactor, dubbed “Swedish Advanced Lead-cooled Reactor” or SEALER for short. Blykalla is currently working toward licensing the technology in Sweden.

Promotional image of Blykalla’s small modular reactor. Image courtesy of Blykalla via Earth Venture Capital.

LetsTransport raises USD 13.5 million from Bertelsmann
LetsTransport, a Bengaluru-based logistics technology startup, has raised USD 13.5 million from existing investor Bertelsmann, according to Inc42. The startup will raise USD 7.6 million via convertible shares while the remaining amount will be raised through debentures.

Photo of LetsTransport’s co-founders. From left to right: Sudarshan Ravi (CPO), Pushkar Singh (CEO), and Ankit Parasher. Photo source: LetsTransport.

Aurionpro acquires majority stake in Arya.ai
Aurionpro Solutions has acquired a 67% stake in Arya.ai, a Mumbai-based fintech startup.

This is an all-cash deal that comprises acquisition of shares held by existing shareholders as well as subscription of new equity capital in the company. The aggregate investment by Aurionpro, including secondary share acquisitions and fund infusions, is approximately USD 16.5 million.

Aurionpro intends to integrate the startup’s artificial intelligence solutions into its suite of offerings, including its enterprise AI platform.

Recent deals completed in China:
  • Peelsphere, a sustainable composite material producer, has secured an eight-figure RMB sum in a pre-Series A funding round. The round was jointly led by China Prosperity Capital and Guangdian Capital (GDC), with continued participation from Gopher Ventures. The company will utilize the funds to upgrade production lines, conduct R&D, and expand its market presence. 36Kr
  • Sidanda, a luxury lifestyle brand, has closed a Series A funding round, garnering nearly RMB 100 million (USD 13.8 million). Challenjers led this round with support from Evershine Capital, while Beyond Capital acted as the exclusive financial advisor. The capital raised will be used for product and brand development, and the expansion of its distribution channels. 36Kr
  • Dega Storage, a Suzhou-registered storage device solutions provider, has raised an eight-figure RMB sum exclusively from Oriental Fortune Capital in an angel funding round. The company intends to allocate the funds toward R&D and product delivery. 36Kr
  • NewBanker, a Beijing-based provider of wealth management solutions, has announced that it secured an eight-figure RMB sum of Series C+ funding from a GP Capital-managed fund and XJSCI. The company will use this investment to implement its regional development strategy, focusing on serving financial institutions in the southern and eastern regions of China. 36Kr
  • Impact Therapeutics, a biopharmaceutical company specializing in targeted anti-cancer therapeutics based on synthetic lethality, has completed a Series D+ funding round, banking RMB 400 million (USD 55.2 million). GTJA Investment Group and Kingray Capital jointly led this round, with participation from Guojin Group and Guyu Nange Technology Development Center. The company plans to utilize the proceeds to advance its R&D efforts. 36Kr
  • Tophwa Energy, a Zhejiang-registered developer of new energy materials, has secured an eight-figure RMB sum in consecutive angel and seed rounds of financing. The investors include Orient Jiafu Asset Management, Changxing Financial Holdings, Yuhua Venture Capital, and Nengli Technology. 36Kr
  • DapuStor, a Shenzhen-headquartered provider of solid state drives (SSD), system-on-a-chip (SoC), and edge computing-related solutions, has concluded a Series F funding round, securing an undisclosed amount from Shenzhen CIC Deloitte Investment Management, China Soft Capital, Shenzhen Investment Holdings, and Sunac. The company intends to use the funds raised to drive product development and innovation in enterprise-level storage and edge computing technologies. 36Kr
  • Induschain, a blockchain technology company, has snagged an eight-figure RMB sum in Series B funding from Veken Holdings. The capital will be used primarily to support product and technology iteration as well as business expansion initiatives. 36Kr
  • Boya Materials, a Hefei-based company specializing in dental biomaterials, has secured an undisclosed amount of investment in an angel funding round from Huaying and Hefei Binhu Financial Investment. 36Kr
  • Leqismart, a smart transportation solutions provider, has raised an eight-figure RMB sum in a Series A+ funding round led by Zhuhai Da Heng Qin Investment. The company plans to use the capital for product R&D, market expansion, brand building, and talent acquisition. 36Kr
  • Torey Microelectronics Technology, a Shenzhen-registered semiconductor company, has completed a new round of financing, receiving an undisclosed amount. The investor details were not disclosed. 36Kr
  • Knowdee Intelligence, an artificial intelligence company, has completed a pre-Series A financing round, bagging nearly RMB 100 million. Summitview Capital led this round, with participation from Trilobite Venture Capital, Tsingzhi Capital, and existing shareholder Lenovo. The funds will be used to iterate and optimize Knowdee’s large models, refine its AI solutions, and acquire talent. 36Kr
  • Tiantian Xuenong, an agriculture education platform, has secured an undisclosed sum of Series C+ funding from the second phase of Asia Impact Investment Fund. 36Kr
  • AncSonic, a Beijing-based acoustics technology company, has consecutively completed two rounds of financing, raising over RMB 100 million. This includes a Series C round that saw participation from ZGC Science City, MY Tsinghua Capital, and ZGC Group. Chao Capital served as the financial advisor. 36Kr
  • Qianghua Quartz, a Shanghai-based producer of quartz materials and devices, has completed a Series C funding round, banking a nine-figure RMB sum. The round saw participation from various investors, including Empowtech Capital, SCGC, Shanghai STVC Group, SPC, and Shanghai Futeng Capital, among others. 36Kr
Jago Coffee, Zevero, Supabase, and more led last week’s headlines:
  • Jago Coffee, a Jakarta-based mobile cafe chain, raised USD 6 million in a Series A funding round led by existing investors Intudo Ventures and Beenext Accelerate, with participation from Orzon Ventures and D Global Ventures.
  • Zevero, a London-based carbon accounting startup, has been acquired by Levelup, a Singapore-based climate tech company, in a deal which will see the two companies merge under the Zevero brand. The exact financial terms were not disclosed.
  • Supabase, a Singapore-based tech development company, acquired Oriole, a database storage extension, for an undisclosed sum.