Investment Updates: Karzo clinches pre-Series A financing, Upstage gains USD 72 million, Sumday nets seed funding, and additional transactions reported
In the dynamic world of technology, funding rounds are a common occurrence as companies seek to fuel their growth and innovation. Here's a round-up of some recent funding announcements from around the globe.
China
- Intalight, a Chinese ophthalmic diagnostic and treatment systems producer, has completed a Series D funding round, securing over RMB 100 million. The round saw support from Sumday's existing investors, including BlackBird Ventures, Wedgetail, and Cameron Adams (Canva). The funds will be used for R&D, expanding product lines, and accelerating overseas market expansion.
- Chin Instrument, a Chinese instrument supplier, has raised a significant sum in a Series A+ funding round. The exact amount was not disclosed, but the funds will be used to construct a headquarters and production base, and for R&D.
- DiSilicon, a Chinese chip manufacturer, has secured nearly RMB 100 million in a pre-Series A funding round. The funds will primarily be used for R&D and the expansion of its 5G wireless communication product lines.
South Korea
- Upstage, a South Korea-based artificial intelligence startup, has raised USD 72 million in a Series B funding round. The funding will support Upstage's expansion with a new office in San Jose, California and accelerate its development of purpose-trained large language models (LLMs). Upstage has now raised over USD 100 million to date, making it the most funded AI company in South Korea.
India
- ShareChat, an Indian social media company, has raised USD 49 million from existing investors. The funding will be used to develop ad targeting technology and grow its consumer transaction business.
Singapore
- Staple, a Singapore-based AI-driven document processing solutions company, secured USD 4 million in a pre-Series A funding round led by Wavemaker Partners.
- Aliena, a Singapore-based space tech company, raised USD 5.6 million in a Series A funding round led by Wavemaker Partners.
- Finogeeks, a Chinese digital technology company for enterprises, has completed a Series C funding round.
Myanmar
- Karzo, a Myanmar-based logistics startup, has secured an undisclosed amount in a pre-Series A funding round led by Orbit Startups, Cocoon Capital, and NP Consulting. The funding will enable Karzo to increase its market share in the Mekong region and develop the "KarzApp", a mobile app for truckers to manage freight requests.
Deeptech Startup Funding
- Nibertex, a deeptech startup, has closed an oversubscribed funding round, but the amount raised was undisclosed. Nibertex aims to launch its PFAS-free membrane technology with this funding.
- Hengtron Nanotech, a Chinese supplier of lithium manganese iron phosphate for battery producers, has secured over RMB 100 million in a Series A funding round.
Other Investments
- Toyota Ventures, the early-stage venture capital arm of Toyota, established two USD 150 million funds for investments in disruptive technologies and business models.
- Sumday, a Tasmanian-based startup specializing in emissions accounting software, has bagged USD 5.3 million in a seed funding round led by Planeteer Capital.
- Luban Daojia Technology, a Chinese home furnishing platform, has secured a large sum in a Series B funding round. The funds will be used to enhance product technology, scale capacity, and increase brand marketing.
In conclusion, these funding rounds underscore the ongoing investment in technology and innovation across the globe. As these companies grow and develop, they are poised to make significant contributions to their respective industries.
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