Investments Highlights: Sfermion and Amber Group spearhead $1.8 million funding for Anichess; 11 deals in China and India, among others detailed
In the world of startups and innovation, several companies have recently secured significant funding to fuel their growth and development. Here's a roundup of the latest funding news:
AI and Supply Chain Solutions
Control One, an AI technology startup based in India, has secured INR 30 million (USD 360,000) in a pre-seed funding round from a group of angel investors, including Kunal Shah (Cred), Chaitanya Ramalingegowda (Wakefit), and Amit Singh, among others.
Meanwhile, MatchLog Solutions, a Mumbai-based supply chain solutions provider, has secured INR 125 million (USD 1.5 million) in a pre-Series A funding round, led by Motion Ventures and July Ventures, with participation from Venture Catalysts, BlueAshva Capital, and Capital A.
Endimension Technology, an AI incubated at IIT Bombay, has raised INR 60 million (USD 720,000) in a pre-Series A funding round, led by Inflection Point Ventures, with participation from SucSeed Indovation and the Society for Innovation and Entrepreneurship (SINE) at IIT Bombay.
Medtech and Oral Care
Telefield Medical Imaging, a medtech company, has received nearly HKD 60 million (USD 7.6 million) in a pre-Series A funding round. Oclean, a Shenzhen-registered oral care producer, has secured RMB 100 million (USD 13.8 million) in a Series C funding round. Weiyi Health Technology, a Shenzhen-registered medical R&D company, has completed an angel round of financing, securing RMB 10 million (USD 1.3 million).
Gaming and Edtech
Anichess, a chess-based online strategy game developed by Animoca Brands, has secured USD 1.8 million in a funding round. As of January 2024, Anichess has over a million registered players and an active daily user base of approximately 150,000 players. Prep, a Vietnamese edtech startup specializing in preparing students for standardized language tests, has completed a Series A funding round, led by Cercano Management and Northstar Ventures.
Cross-border Payments and Insurtech
Thunes, a cross-border payments company operating out of Singapore, has announced an agreement to acquire Tilia, an "all-in-one" payments platform, though the financial terms of this deal were not disclosed. FlashAid, a Mumbai-based insurtech startup, has raised INR 208 million (USD 2.5 million) in a pre-Series A funding round, jointly led by the Piper Serica Angel Fund and SOSV, with participation from Z21 Ventures Fund and ZNLGrowth Fund.
Funding Rounds and Lead Investors
The investment for Telefield Medical Imaging was led by Casstar, with participation from the Hefei Seed Fund. The round for Oclean was led by Granite Asia. The Series C funding round for Shenzhen-registered oral care producer Oclean was led by Granite Asia. The funding round for Anichess was jointly led by Sfermion and Amber Group. The round for Weiyi Health Technology was led by Plum Ventures.
Expanded Credit Facilities
BillEase, an app-based consumer finance platform in the Philippines, has expanded its existing credit facility from USD 20 million to USD 40 million, with participation already secured from the Helicap Income Opportunities Fund, several institutional credit investors, and high-net-worth individuals.
Debt and Equity Funding
Northern Arc, a non-banking financial company (NBFC) headquartered in Chennai, has raised a total of USD 80 million in debt and equity funding, with USD 40 million raised in debt from the International Finance Corporation (IFC).
Quantum Software Development
Hanhai Quantum, a Hefei-based developer of software based on quantum mechanics, has bagged an eight-figure RMB sum in an angel funding round.
Power Tools Producer
Tilswall, a producer of power tools serving predominantly the US and European markets, has secured nearly RMB 25 million (USD 3.4 million) in angel funding.
As these companies continue to grow and develop, we can expect to see innovative products and services that will shape the future of various industries. Stay tuned for more updates!
