Kamereo raises USD 21 million in pre-Series B funding
Kamereo, a B2B purchasing and sourcing platform for farmers and restaurants in Vietnam, has raised USD 21 million in a pre-Series B funding round, led by Reazon Holdings and Thoru Yamamoto (Foodison). Quest Ventures also participated in this round.
Kamereo provides an online platform to trade and source fresh supplies, presenting an alternative to the traditional method of sourcing ingredients from wet markets.
Completion of the latest round brings Kamereo’s total funding to USD 7.2 million. The company plans to use the funds to strengthen its sales team, expand its product variety and in-house brands, and grow its warehouse network to better serve its customer base. It is also looking to expand into Hanoi as well as neighboring Cambodia, adding to its existing footprint in Ho Chi Minh City and Binh Duong City. —Vietcetera
Ekuinas sells Icon Offshore shares to Liannex Maritime, full takeover expected
Ekuiti Nasional, a Malaysian government-linked private equity firm, has divested a 50.2% equity stake in Icon Offshore to Singapore-based Liannex Maritime, a fully-owned subsidiary of Liannex Corporation, for MYR 172.7 million (USD 36.5 million).
According to a statement from Ekuinas CEO Syed Yasir Arafat, the decision to divest its majority stake in Icon was premised on current market conditions, coupled with the opportunity to pass the baton to a credible and committed investor.
Icon is an offshore support vessel (OSV) provider, primarily serving the Malaysian and Brunei coasts with a total of 19 active OSVs. Ekuinas’ exit comes after a holding period of over ten years, during which the firm has reaped a cumulative realized gain of over MYR 500 million (USD 105.7 million).
According to DealStreetAsia, Liannex Maritime is set to follow up with an unconditional mandatory takeover of Icon, which would see the company sweep up the remaining 49.8% stake at the same share price.
iKala secures NTD 660 million in Series B round
iKala, an artificial intelligence solutions provider based in Taiwan, has announced the completion of its Series B funding round. The round was led by Chunghwa Telecom, with support from existing investors including Wistron Digital Technology Holding, Huitung Investments, Honesty Ventures, and Cherubic Venture.
Chunghwa Telecom is the largest provider of integrated telecommunication services in Taiwan. Seeking to bolster its cloud competencies and boost AI research, it aims to leverage iKala’s expertise to expand into the Japanese and Southeast Asian markets.
In a statement by iKala, the company said that this investment will bolster its R&D efforts and enable it to expand its footprint in Japan and Southeast Asia. The additional NTD 660 million (USD 20.5 million) in funding also pushes iKala’s total capital to over NTD 1.55 billion (USD 48.3 million).
DNX Ventures announces final close of two Japan-focused funds
DNX Ventures, a Tokyo- and Silicon Valley-based venture capital firm, has announced the final close of Japan Fund IV and Japan Annex Fund III, two Japan-focused funds under its charge, after raising USD 188 million and USD 55 million, respectively. The firm secured commitments from various global investors including Morgan Stanley and Atinum Investment.
Notably, DNX Ventures has invested in more than 190 startups and led the exits of 23 companies across eight funds that total approximately USD 750 million in assets under management. It focuses primarily on B2B startups in Japan and the US. —TechNode Global
Recent deals completed in China:
Neolix, a Beijing-headquartered technology company specializing in unmanned vehicles, has secured RMB 600 million in a Series C funding round. The round saw participation from CICC Huirong, Qianhai Ark, CICC Qiyang, E-Town Capital, and Shell Ventures. Neolix will utilize the funds to advance its R&D and nationwide deployment. —36Kr
Kaihua Chuanmei, a Chinese new media company, has secured a seven figure RMB sum in a seed funding round from Mushi Capital. —36Kr
Yanyin Technology, a Shanghai-registered solutions provider for the biopharmaceutical industry, has announced the completion of an angel funding round, banking an eight-figure RMB sum from Qiming Venture Partners. The company will use the capital to enhance and promote its digital platform that facilitates research collaboration, and the R&D of large models for biopharmaceutical development. —36Kr
Latest funding deals in India:
Ambit Finvest, a non-banking financial company (NBFC) under Ambit Group, has raised INR 6.9 billion (USD 82.8 million) from Daiwa Securities Group, its parent company, and existing investors. —DealStreetAsia
Aeria, a prop tech startup, has secured USD 1.8 million in a pre-seed funding round led by Kalaari Capital and Foundamental, with participation from AC Ventures, AL Trust, and a clutch of angel investors. The funds will be used to expand its business across Southeast Asia, the Middle East, and other Asian countries. —Inc42
JustDeliveries, a cold chain solutions startup, has secured USD 1 million in a pre-Series A funding round led by NabVentures, with participation from Faad Network, Anay Ventures, Caret Capital, and the Mahansaria Family Office. This funding will also serve as the base for its growth plans to expand across 8–10 Indian cities over the next 3–4 years. —Inc42
Woodsmen Mountain Whisky, a Delhi-based liquor startup, has secured INR 125 million (USD 1.5 million) in a Series A funding round. The round was jointly led by Finfirst Group and Anthill Ventures, with participation from various investors including Nikhil Vora (Sixth Sense Ventures), Chaitanya Rathi, Shantanu Deshpande (Bombay Shaving Company), as well as existing investors Nitin Kaushal and Chakradhar Gade, from Country Delight. Members of the core team at Gingalani Distillers, the parent company of Woodsmen Mountain Whiskey, also took part in this round. —Business Today
Skye Renewables, GMO Financial Gate, MBK Partners and more led yesterday’s headlines:
Skye Renewables, an “energy-as-a-service” company, secured a joint investment by British International Investment (BII) and Idemitsu Kosan, forming a partnership to decarbonize Southeast Asia and develop greenfield solar projects. The investment amount was undisclosed.
GMO Financial Gate, a Japan-based payment processing company, formed a capital alliance with Soft Space, a Malaysia-based fintech player, for an undisclosed amount. The investment precedes Soft Space’s planned Series C funding round, and is aimed at promoting a cashless society in Japan through fintech.
MBK Partners, a North Asia-focused private equity firm, has refinanced its KRW 1.3 million (USD 969 million) loans on Homeplus with support from Meritz Financial Group. Meritz is issuing the loans to MBK at an interest rate of 10% per annum, which will be backed by Homeplus store buildings and other properties.
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