Here are the startup and venture deals we tracked across the Asian region today.
Klook Raises $210M Amid Post-Pandemic Travel Recovery
- As the travel industry makes a post-pandemic recovery and projects significant growth, Hong Kong-based travel experiences platform Klook has secured $210 million in a funding round to boost growth, tapping into the fast-growing middle class in Southeast Asia.
- The round which follows a $200 million series E round in January 2021 was led by Bessemer Venture Partners with BPEA EQT, Atinum Investment, Golden Vision Capital, and Bank of Ayudhya’s Krungsri Finnovate also participating in the round.
- Founded in 2014, Klook aims to enhance traveller convenience and savings. The company achieved an annualized gross booking value of $3 billion in 2023, reporting profitability for the first time this year
- Klook plans to allocate the fresh funds towards product innovation, scaling social and digital marketing efforts, and integrating AI.
Sarvam AI Raises Record $41M in Series A for Full-Stack Generative AI Vision
- In what marks the largest Series A funding for an Indian AI startup to date, Indian startup Sarvam AI, specializing in Generative AI, has secured a groundbreaking $41 million in a Series A funding round, led by Lightspeed and supported by Peak XV Partners and Khosla Ventures.
- This Sarvam AI's ambitious goal is to develop a full-stack for Generative AI, ranging from research-led innovations to an enterprise-grade platform for authoring and deployment. The company aims to accelerate the adoption of GenAI in India by addressing unique needs, such as training models for Indian languages and voice-first interfaces.
- The funds will further support Sarvam AI in establishing itself as a beacon for AI innovation and attracting top talent to tackle foundational research challenges in India's AI landscape.
Doctor Anywhere Raises $40.8M to Expand Digital Healthcare Ecosystem
- Singapore-based health tech firm Doctor Anywhere has secured $40.8 million in a series C1 extension round, with investments from Square Peg and Novo Holdings.
- Founded in 2017 by Lim Wai Mun, Doctor Anywhere is a digital platform that provides on-demand healthcare solutions. It aims to empower individuals to take charge of their health with early detection and preventive measures against chronic illnesses. It boasts 2.5 million users across multiple countries.
- The company plans to utilize the new capital to build a vertically integrated digital healthcare ecosystem, focusing on expanding services related to secondary care. It also aims to introduce new services, strengthen strategic partnerships, and explore acquisition opportunities.
Meatiply Raises $3.75M in Seed Funding Led by Wavemaker Partners
- Singapore-based cultivated meat company Meatiply has raised $3.75 million in a seed funding round led by Wavemaker Partners and AgFunder, with participation from Seeds Capital.
- Meatiply specializes in creating meat products using a mix of cell types to produce natural compounds that can replicate the taste and nutritional qualities of real meat.
- This round follows its US$1 million pre-seed round in 2022
- The funds will be used to enhance research and development capabilities, scale up production, and launch a new facility in 2024, two years ahead of schedule. This strategic move is set to position Meatiply to introduce a product within an unprecedented five-year timeframe since its founding.
Wind Raises $3.8M in Pre-Seed Funding to Revolutionize Cross-Border Payments with Polygon Blockchain
- Wind, a Singapore-based remittance firm that aims to facilitate payments between Southeast Asia and the US using blockchain technology, has secured $3.8 million in a pre-seed round led by Global Founders Capital and Spartan Group, with participation from Saison Capital, Alumni Ventures, and Tiny VC.
- Wind distinguishes itself as a non-custodial wallet, enabling users to manage their assets independently, resulting in faster and cheaper services. With transaction fees below 0.3%, Wind targets a global user base, having reached nearly $3 million in transaction value since its 2022 inception, and gaining users from various countries, including Nigeria, Cambodia, and Estonia.
- The funds raised will support product development, compliance measures, and other initiatives.
Scimplifi Secures $3.67M Funding to Expand Chemical Sourcing and Manufacturing Platform
- Scimplifi, a speciality chemicals sourcing and manufacturing platform, has raised $3.67 million in funding from institutional investors 3one4 Capital and Beenext, along with participation from angel investors in the chemical industry and business-to-business commerce.
- Scimplifi, founded by Salil Srivastava and Sachin Santhosh, operates as an end-to-end B2B fulfillment platform, covering the product lifecycle from contract research to commercial chemical manufacturing in industries such as pharmaceuticals, personal care, and agrochemicals.
- The funds will be utilized to expand the core team in business, value engineering, and technology. It aims to expand its reach to 20 countries, add four new chemical categories, and establish labs in three more categories for research support.
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