Here are the startup and venture deals we tracked across the Asian region today.
BeeX raises $2 million in funding
- Singapore-based BeeX, an autonomous underwater robots manufacturer, has successfully raised $2 million in a funding round co-led by Earth Venture Capital and ShipsFocus Ventures.
- Founded in 2018 by Grace Chia and Goh Eng Wei, BeeX specializes in autonomous underwater robotics solutions for tasks like infrastructure maintenance and compliance monitoring in the maritime, energy, and defence sectors.
- Its hovering autonomous underwater vehicle, A.Ikanbilis, utilizes an autopilot system that processes real-time data from cameras and underwater acoustics.
- The startup plans to utilize the funds to expedite its market entry for autonomous offshore wind farm inspections in Europe. The company also aims to launch a next-gen vehicle, Betta, by the end of 2024 to meet the growing demand for offshore wind inspection services.
Purple Style Labs raises $8 million in Series D
- Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop (PPUS), has successfully raised $8 million in Series D funding propelling its valuation to $352 million.
- The Indian-based company, founded in 2015 by Abhishek Agarwal, operates an omnichannel luxury fashion platform where people can discover and buy Indian designer wear.
- The round was led by Sanket Parekh of Pidilite Family Office, with participation from Signet (Harish Shah Family Office), Hira Group Family Office, and other investors, including Neelesh Bhatnagar, Masaba Gupta, Rahul Garg, Atul Gupta, and Singularity Growth Opportunities Fund I.
- The fund which marks the second funding round for the Mumbai-based company in 2023, following a $14 million Series C round in April will be used to expand its multi-designer platforms and IPO plans in 2026.
Inito raises $6 million
- Bengaluru-based health tech startup Inito has secured $6 million in Series A funding led by Fireside Ventures.
- Founded in 2015 by CEO Aayush Rai and CTO Varun A Venkatesan, the company focuses on fertility monitoring and offers a kit that delivers easy-to-read diagnostic results on fertility hormones via a smartphone app within 10 minutes.
- The funding follows a previously raised $9 million round from Y Combinator, former Nurx CEO Varsha Rao and a dozen physicians and family offices. To date, Inito’s total funding raised sums up to $15 million.
- The funding will be used to expand the startup's analytics capabilities using AI, develop an Android app, invest in R&D for new products, and scale its business operations. Inito's total funding now stands at $15 million.
TômTex nets $4.15m investment for eco-friendly leather alternatives
- Vietnamese-owned eco-tech startup TômTex has secured $4.15 million in a seed funding round led by Happiness Capital.
- The New York-based company, founded by entrepreneur Uyen Tran, specializes in creating eco-friendly alternatives to conventional animal and plastic-based leathers through an efficient and cost-effective process. The startup creates textiles from shrimp shells and mushrooms, offering a sustainable solution to lab-grown production.
- The funding which saw participation from Earth Venture Capital, SOSV, Parley for the Oceans, and MIH Capital will be used to expand the team, fill key leadership roles, and enhance manufacturing capabilities.
Happy Nature secures $300K in pre-Series A round
- Direct-to-consumer brand Happy Nature has secured $300,000 in a pre-Series A funding round led by Inflection Point Ventures.
- Founded in 2018 by Vikas Singh and Vishal Rastogi, Happy Nature focuses on delivering farm-fresh, direct-to-customer milk, dairy, and breakfast essentials sourced directly from trusted suppliers.
- With operations in various locations including Delhi, Noida, Gurgaon, Ludhiana, and Chandigarh, Happy Nature aims to address challenges faced by small farmers and meet consumer demands for 100% clean label, preservative-free products through a subscription and delivery model. It serves more than 1,00,000 customers with over 15,000 orders processed daily.
- The new funds, following a previous seed round of $768,000 in May 2022, will be utilized for sales, marketing, and branding efforts.
Happie Curves raises Rs 20 lakh on Indian Angels OTT show
- Gurugram-based Happie Curves, a startup specializing in plus-size innerwear and comfort clothing, has secured Rs 20 lakh (~$24,000) in angel funding from angel investors Rikant Pittie of EaseMyTrip and Aparna Thyagarajan of Shobhitam Inc.
- The startup offers a diverse range of intimate wear, including beachwear, swimwear, nightwear, and bralettes, all made in India with top-quality fabrics, emphasizing both quality and comfort.
- The funding which was obtained through the startup's participation in Indian Angels' OTT angel investment show, comes in exchange for a 30% stake in Happie Curves.
- Happie Curves plans to utilize the capital to implement strategic interventions for business growth, brand value expansion, and nationwide outreach.
Follow our full coverage of the Asian startup and technology scene and get up to date with what's happening in the key markets within the region.