Investments Highlighted: SeaTown to fund Linnovate Partners, DeepX, South Korea, concludes Series C, Tjufoo and Sinbad to consolidate, and additional news
In the world of technology, funding rounds are a frequent occurrence as startups seek to scale their operations and take their innovations to the next level. Here's a roundup of some recent investments in the industry.
AI and Venture Capital
Mistral AI, a French AI company, is reportedly close to securing a whopping $600 million in funding, which could push its valuation to $6 billion. Existing investors General Catalyst and Lightspeed Venture Partners are anticipated to be among the investors taking part in this funding round.
Meanwhile, DeepX, a South Korean AI chipmaker, completed a Series C funding round, securing $80.5 million. The round was led by SkyLake Equity Partners, with participation from BNW Investments, Aju IB, and existing shareholder TimeFolio Asset Management.
Agtech Investments
The agriculture technology sector also saw significant investments. Elevarm, an Indonesia-based agritech startup, raised $2.6 million in a seed funding round led by Insignia Ventures Partners, with participation from 500 Global and Gibran Huzaifah (eFishery). In Singapore, Rize, an agritech platform focusing on sustainable rice cultivation, completed its $14 million Series A funding round, co-led by Breakthrough Energy Ventures, GenZero, Temasek, and Wavemaker Impact.
Mergers and Acquisitions
The tech landscape also saw a few mergers and acquisitions. Tjufoo and supply chain platform Sinbad have agreed to merge and form a new entity named Horizon Group. The deal is set to finalize in June, with Horizon expected to target the consumer goods industry in Indonesia by leveraging the combined capabilities of Tjufoo and Sinbad.
In the education sector, Venturi Partners purchased a 5.12% stake in K12 Techno Services for INR 2.25 billion (USD 27 million) from Navneet Learning. This deal will see Venturi Partners join K12 Techno's cap sheet, which includes Peak XV Partners, Kedaara Capital, Sofina Ventures, and Navneet Learning.
Seed Funding for Emerging Startups
Gapai, an Indonesian startup empowering workers to pursue global careers, has secured $1 million in a seed funding round led by Wavemaker Partners, with participation from returning investor Antler. Azara AI, a Singapore-based startup specializing in deploying artificial intelligence agents to optimize diverse business processes, raised $1 million from Iterative VC, Dave McClure, Yohei Nakajima, and angel investors from Meta and Airbnb.
Funding for CRM Solutions Provider
Datarize, a customer relationship management (CRM) marketing solutions provider in South Korea, completed a Series B funding round, netting $11 million. However, the details of the investment firm leading this round remain undisclosed.
Capital Infusion for Technology Services Company
Linnovate Partners, a technology services company, secured a $40 million commitment from SeaTown Private Capital Master Fund. The firm plans to use the capital infusion to scale operations, drive innovation, and solidify its market position.
Mellow Energy, a Chinese company specializing in perovskite solar cells, has raised an undisclosed sum in a pre-Series A round of financing. The round was led by Huajin Capital, with participation from China Merchants Startup Capital and Yonghua Capital.
As these investments demonstrate, the tech industry continues to attract significant capital, driving innovation and growth across various sectors.
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