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Monday, February 19, 2024

Deals in brief: KWAP makes first investments under Dana Perintis strategy, Sydney-based Hatch secure AUD 7 million, eight China and India deals, and more

KWAP announces first investments under its Dara Perintis strategy

Kumpulan Wang Persaraan (KWAP) ↗, Malaysia’s public service retirement fund, has announced the first batch of investments it has made under its MYR 500 million Dana Perintis Strategy.

The inaugural investments, totaling MYR 100 million, include capital infusions into two Malaysian startups: Bateriku, a provider of automotive services, and Lapasar, an online wholesale marketplace. These investments aim to support the growth and expansion plans of the startups. Additionally, KWAP has committed funds to Lynn Capital, a Malaysian seed investment fund focusing on the mobility and supply chain sectors, and Antler, an early-stage venture capital fund investing in companies seeking pre-seed to Series A funding.

Launched in September 2023, the Dana Perintis Strategy is designed to expedite the development of the Malaysian early-stage startup ecosystem while generating significant returns for beneficiaries through investment opportunities in startups and VC funds. It focuses on six key areas: the digital economy, financial inclusion, food security, education, the silver economy, and climate change.

Malaysia’s Secondlifeasia expands to Thailand via investment in Appidea

Secondlifeasia ↗, a Malaysia-based device repair company, has announced the establishment of a joint venture with Appidea ↗, with an initial investment of USD 250,000, facilitating its expansion into the Thailand market.

As part of this deal, Secondlifeasia will set up three brick-and-mortar outlets in Thailand by the end of 2024. Additionally, it will enhance its services by introducing Guard Genius, an in-house device protection plan tailored for new and out-of-warranty smartphones.

Established in 2019, Secondlifeasia operates 35 outlets in Malaysia and is known for providing white-labeled device protection and repair services. It is also an independent repair provider (IRP) certified by Apple and a Realme authorized service center for a wide range of devices. —TechNode Global

Rampersand leads AUD 7 million investment in Sydney-based Hatch

Hatch ↗, a Sydney-based recruitment startup, has raised AUD 7 million in a funding round led by Rampersand. The round saw participation from several Australian investors including Alberts Impact Ventures, Aura Ventures, Investible, Jelix Ventures, as well as existing private investors like Ahmed Fahour.

According to a statement by Hatch, the startup will utilize the newly raised capital to enhance its products, grow its user base, expand its footprint in Australia, and acquire talent to bolster its AI, machine learning, and technology teams.

Recent deals completed in China:

  • DoiTech, a Shanghai-registered semiconductor company, has secured an eight-figure RMB sum in a pre-Series A++ funding round led by Oriza Seed. The round also saw participation from multiple industrial institutions. The company will utilize the funds to expand its production capacity and advance R&D. 36Kr
  • MS Energy Storage Technology, a Shanghai-based provider of energy storage and distribution solutions, has bagged a nine-figure RMB sum in a Series D funding round led by the National Green Development Fund (NGDF), with support from Legend Capital Management. The company will use the proceeds to further develop energy storage safety and digital energy technologies. 36Kr
  • Semiconductor Integrated Display Technology (SIDTEK), a Wuhu-based company specializing in micro-OLED displays, has raised over RMB 1 billion (USD 138.9 million) in a Series A funding round from a slate of investors, including Wuhu Construction Investment, Sichuan Manufacturing Fund, Ruicheng Fund, Xingzhong Venture Capital, Kunyan Capital, and Meishan Tianfu Guidance Fund. The company will allocate the funds toward the construction and operation of a 12-inch silicon-based OLED production line. 36Kr
  • DiNova, a Hangzhou-headquartered medtech company, has secured an eight-figure RMB sum in its inaugural round of strategic financing. The round was led by Tasly Capital. DiNova will utilize the funds to accelerate R&D of products and progress in its clinical trials. 36Kr
  • Veritas Medicine, a Hangzhou-headquartered solutions provider for Chinese medicine companies, has secured an eight-figure RMB sum of angel funding from Huafang Investment. The company will use the capital to develop its technology platform and expand its talent pool. 36Kr
  • R&L Medical, a Hangzhou-registered medical enterprise specializing in wound treatments, has snagged an eight-figure RMB sum in a Series A+ funding round, exclusively invested by the Blue Bay Science and Technology Innovation Group. R&L Medical will utilize the funds for the R&D, registration, production, and commercialization of its products. 36Kr

Latest deals in India:

  • Captain Fresh, a Mumbai-based operator of a fish and seafood supply chain platform, has secured USD 25 million in an extension of its Series C funding round. The round is jointly led by Nekkanti Seafoods Group and British International Investment (BII), along with participation from several family offices. The company plans to utilize the capital to bolster its presence in the US and Europe, as well as enhance its platform, among other initiatives. According to Entrackr, Captain Fresh has raised a total of USD 45 million across multiple tranches in its Series C round, with USD 20 million raised in September last year. Additionally, the company raised USD 13 million in January this year, aiming to close the extended Series C round at USD 48 million.
  • FlexiLoans, a digital lending company focused on serving micro, small, and medium enterprises (MSMEs), has raised INR 600 million (USD 7.2 million) via non-convertible debt from Vivriti Asset Management. The debt has an interest rate of 12.9% per annum with a tenure of 31 months. The company intends to utilize the funds for its business operations. —Entrackr

Lambda, Blue Planet, InCred, and more led last Friday’s headlines:

  • Lambda, a provider of cloud computing hardware and services for training, fine-tuning, and inferencing artificial intelligence models, raised USD 320 million in a Series C funding round led by Thomas Tull’s US Innovative Technology Fund and saw participation from a slate of investors, including B Capital, SK Telecom, funds and accounts advised by T Rowe Price Associates, as well as existing backers such as Crescent Cove, Mercato Partners, 1517 Fund, Bloomberg Beta, Gradient Ventures, and more.
  • Blue Planet Environmental Solutions, a Singapore-based sustainable waste management company, completed its acquisition of Mahindra Waste to Energy Solutions Limited (MWTESL), a subsidiary of Mahindra Group.
  • InCred Alternatives Investments, part of InCred Group’s diversified financial services enterprise, launched InCred Growth Partners Fund-I (IGPF-I), its maiden Category 2 alternative investment fund.

If there are any news or updates you’d like us to feature, get in touch with us at: [email protected].

James Mackreides
James Mackreides
'Mac' is a short tempered former helicopter pilot , now a writer based in Sofia, Bulgaria. Loves dogs, the outdoors and staying far away from the ocean.

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