Week 46: Asia Startup Funding Led by Haoyang Data Center 1

Asian startups and technology companies raised a combined $897.65 million this week, with funding deals covering data centres, mobility, healthcare, renewable energy and enterprise software.

Thailand accounted for the largest announcement, with Haoyang Data Center 1 securing financing facilities worth up to $590 million, alongside THB 610 million (approximately $18.8 million), for the first phase of a major data centre project. 

The Week's Biggest Startup Funding Rounds 

/1. Haoyang Data Center 1, Up to $590 Million, Data Centers, Thailand 

Thailand-based Haoyang Data Center 1 has secured financing facilities worth up to $590 million, alongside THB 610 million (approximately $18.8 million), to support the first phase of a large-scale data centre project. 

The financing will cover construction, development and working capital requirements as the company works to expand Thailand's AI and digital infrastructure capacity. 

/2. newmo, $135 Million, Mobility Technology, Japan 

Tokyo-based mobility startup newmo has announced JP¥20.8 billion (approximately $135 million) in Series B funding, with KDDI leading the round. 

The company operates a fleet of roughly 1,900 taxis in Japan and is also developing AI technology for self-driving taxis. 

/3. Eli Radiopharma, $60 Million, Biotechnology, China 

Hangzhou Eli Radiopharma Co., Ltd. has raised nearly CN¥400 million (approximately $60 million) in a Series A funding round led by Huagai Capital, with Bayland Capital serving as co-lead. 

The company develops radiopharmaceuticals targeting oncology and neurological diseases, an area of medicine that uses radioactive compounds for diagnosis and treatment. 

/4. BALLAS, $21.5 Million, Construction Technology, Japan 

Tokyo-based construction materials procurement platform BALLAS has raised 3.4 billion yen (approximately $21.5 million) in Series B funding. 

The round comprised 2.5 billion yen in equity and 900 million yen in debt, with support from JIC Venture Growth Investments, Japan Finance Corporation and MUFG Bank. 

/5. Greenjoules, $16 Million, Renewable Energy, India 

Indian renewable fuels company Greenjoules has secured $16 million in Series B funding, alongside a separate $13.6 million loan from the government-backed Technology Development Board. The two transactions bring the company's total funding and financing support to approximately $34 million, including earlier capital. 

The company will use the fresh capital to develop a biocrude production facility at Khed City near Pune, Maharashtra.

/6. Booost Technologies, $13.5 Million, Sustainability Technology, Japan 

Japan-based Booost Technologies has closed its Series C funding round at $13.5 million, bringing its total funding to $40 million. 

The round attracted investments from Mirai Creation Fund III, managed by Sparx Asset Management, AG Capital, One Capital and Pronexus. The Tokyo-based company provides a platform that helps businesses collect, manage and disclose sustainability and other non-financial data. 

/7. Horizon Group, $12.5 Million, Consumer Wellness, Thailand 

Thailand-based Horizon Group has secured $12.5 million in a Series A funding round led by Vertex Ventures Southeast Asia & India. 

The company plans to use the investment to expand Lunio, its flagship consumer wellness brand, beyond sleep products into ergonomics, recovery and beauty technology. 

/8. BillEase, $7.92 Million, Fintech, Philippines 

Philippine consumer finance company BillEase has secured a PHP 500 million (approximately $7.92 million) credit facility from Philippine Bank of Communications (PBCOM). 

The financing will support its peso-denominated loan portfolio and strengthen its lending capacity. The facility is backed by a pool of the company's consumer loans, with security interests registered through the Philippines' Personal Property Security Registry. 

/9. Staera Semiconductor, $4.6 Million, Semiconductors, Singapore 

Singapore-based semiconductor startup Staera Semiconductor has closed a $4.6 million pre-seed funding round led by Openspace Capital. 

SGInnovate, Black Kite Capital, 28 Holdings, In Group and Decimus Technologies also participated. The company is developing optical technology that uses light to move data directly between AI chips, offering an alternative to traditional copper connections. 

/10. Froncort.AI, $2.3 Million, Healthtech, India 

Pune-based healthtech startup Froncort.AI has received a $2.3 million grant from Google.org to support its work helping frontline health workers detect infectious diseases. 

The funding will go towards developing mAI-NETRA, an offline-first mobile application designed to support health workers in identifying infectious diseases, including in areas with limited internet access.