Funding secured by Smartpay and WYZauto, acquisition of Mobii Network by SGX-listed APS, and seven China deals announced, highlighting a busy week in business
In the rapidly evolving world of technology and finance, Asia continues to be a hotbed of activity. Here's a look at some of the significant funding rounds and acquisitions that have taken place recently:
Fintech Funding in Japan
Smartpay, a Japanese fintech company specializing in buy now, pay later solutions and digital in-store payments, has raised USD 7 million in a pre-Series A funding round. The investment was led by SMBC Venture Capital. Smartpay offers users a digital financing service for online purchases directly from their bank accounts, making shopping more accessible and convenient.
Digital Solutions in China
Wenda Group, a Sichuan-based company offering digital business solutions, has completed an angel round of financing, raising RMB 50 million (USD 6.9 million) from Zhongxin Ding. The company's exact focus remains undisclosed, but it's clear that they are contributing to the digital transformation of businesses in China.
Sustainable Acquisition in Taiwan and Singapore
Asia-Pacific Strategic Investments (APS), a real estate firm listed on the Singapore Exchange (SGX), is acquiring Mobii Genius, a sustainable data solutions provider based in Taiwan, for USD 150 million. APS plans to utilize Mobii Genius' proprietary green technology to drive sustainable growth and shareholder value.
Shake-ups in South Korea
Hyundai Motor Group has emerged as the top shareholder of South Korean mobile carrier KT Corporation after acquiring shares from the country's National Pension Service. The exact details of this acquisition are yet to be disclosed.
Funding in Thailand and Malaysia
WYZauto, a Thailand-headquartered online tire marketplace, secured USD 2.25 million in funding from Vynn Capital. WYZauto has expanded its operations to Malaysia in 2023.
Pro-Net, a wholly owned subsidiary of Malaysian automaker Proton, has secured MYR 200 million (USD 42.1 million) in funding from CIMB Bank to support its green mobility initiative and the importation and distribution of electric vehicles in Malaysia.
Investments in China and Shanghai
Fabanyun, a Beijing-based legal tech company, has completed an eight-figure RMB pre-Series A funding round backed by Hualing Capital and several individual investors.
Nieta Art, a Shanghai-based AI technology company specializing in content creation, has secured over RMB 10 million (USD 1.38 million) in angel and pre-Series A funding from Source Code Capital, MiraclePlus, and other investors.
Bwee, a Shanghai-registered provider of wireless lighting solutions, has bagged an eight-figure RMB sum in a pre-Series A funding round led by Maizun Equity Investment Fund Management. The exact details of the investment are yet to be disclosed.
Strategic Financing in Shenzhen
Apulis Technology, a Shenzhen-based AI technology firm, has secured an eight-figure RMB sum of strategic funding from Haier, with Lighthouse Capital serving as the exclusive financial advisor. The details of this strategic financing are yet to be disclosed.
Joint Acquisition in Singapore
Mitsui & Co and Rohto Pharmaceutical have agreed to jointly acquire Eu Yan Sang International, a Singapore-headquartered health and wellness company, at a valuation of SGD 800 million (USD 592.7 million).
Series C Funding in Shanghai
Applied Protein Technology, a Shanghai-registered biotechnology company, has successfully raised a nine-figure RMB sum in a Series C round of financing led by GF Xinde Investment, with Sun Rock Capital participating as well. The details of this funding round are yet to be disclosed.
First Investment in Thailand
This investment marks Vynn Capital's inaugural investment from its new mobility and supply chain fund. The exact details of the investment are yet to be disclosed.
Each of these investments and acquisitions underscores the vibrant and dynamic tech and finance landscape in Asia, with companies from various sectors attracting significant funding and strategic partnerships to drive their growth and innovation.
Read also:
- Transforming Digital Inventories in the Food Industry: A Comprehensive Guide for Food Businesses
- 1. Key Points for August 14: Gathering in Alaska, Immigration Enforcement (ICE), Financial service Zelle, Infowars, and Air Canada Airline Incidents
- Automobile manufacturer IM Motors reveals an extended-range powertrain akin to installing an internal combustion engine in a Tesla Model Y.
- Conflict Erupts Between Musk and Apple Over Apple Store's Neglect of Grok
