Weekly Funding Roundup June 2 to June 7 2024– We compile a Weekly Startups Funding News Report summarizing all the startups that secured funding during the week. This report provides a consolidated list of these newly funded ventures day-wise, offering a concise overview of the latest developments in the startup funding landscape.
Asian Startups raised capital in order to expand and move into more successful. Here is this week’s Top 10 Asian Startups Funding Roundup.
Top 10 Asian Startups Funding News June 2 to June 7 2024
Funding Wrap of The Week | Asian Startups Funding Roundup | June 2– June 7
Table of Contents
Sunrise Capital Funding News
The pan-Asia investment firm CLSA Capital Partners’ specific private equity strategy for Japan, Sunrise Capital KK, has raised $500 million for its most recent fund, Sunrise Capital V.
Within five months, the fund was closed due to oversubscription. According to a company announcement, it obtained backing from current investors, who made up 81% of the total number of commitments.
Space Pioneer
Space Pioneer, a Beijing-based rocket developer, announced that it has successfully concluded a fundraising round totaling more than $207 million, which will be used to fund the company’s reusable rocket research.
Beijing Tianbing Technology Co., better known as Space Pioneer, is one of a select few quickly expanding commercial rocket companies, motivated by the government’s desire to make China a space powerhouse.
Nio Power
The publicly traded Chinese electric vehicle manufacturer NIO’s subsidiary, Nio Power, has obtained $207 million in strategic funding to support the expansion of its network of charging and battery-swapping stations.
According to a statement from Nio Power, the state-owned investment company Wuhan Optics Valley Industrial Investment of the city provided the fresh funding. Nio Power is headquartered in Wuhan.
Fibe
TR Capital, Trifecta Capital, and Amara Partners led a $90 million Series E investment for Fibe, an Indian Fintech company.
Fibe stated in a statement on Wednesday that both primary and secondary transactions were included in the round, which also included participation from its current backers TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures, and Chiratae Ventures.
Gogoro
Gogoro Inc, a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities announced it was partnering with leading Latin American energy company, Copec, to launch its battery swapping and Smartscooters in Chile and Colombia in Q2 2024.
With Gogoro, Copec is developing the first Latin American network of battery swapping stations that it is launching at Copec service stations in Santiago, Chile; and, with Terpel, a Copec company’s, service stations in Bogota, Colombia.
Nium
Nium, the global leader in real-time cross-border payments, raised US$50 million in Series E fundraising today. The Southeast Asian sovereign wealth fund led the round, which values the company at US$1.4 billion.
The sovereign wealth fund joins BOND, NewView Capital, and Tribe Capital as Nium’s latest investors. The funds will be used by it to expand its global network, accelerate product innovation, hire top personnel, and pursue M&A activity in the B2B payments market, which is expected to reach US$175 trillion by 2030.
Wrtn Technologies
South Korean artificial intelligence firm Wrtn Technologies raised $18.33 million as investors flocked to AI bets and Seoul supported the development of next-generation AI technologies.
Wrtn’s pre-series B fundraising was joined by investors including the corporate venture capital arm of Japan’s LY Corp and the Asian division of Silicon Valley-based venture capital firm BlueRun Ventures, the startup said in a statement.
Fhenix
Fhenix, an Israeli firm based in Tel Aviv that wants to improve Ethereum’s secrecy, has acquired $15 million in Series A funding.
With participation from Dao5, Amber Group, Primitive Ventures, GSR, Collider Ventures, and Stake Capital, Hack VC led the round.
Astrotalk
Elev8 Venture Partners is the lead investor in the $14 million investment round for the online astrology and mental health platform AstroTalk.
Elev8 has allocated Rs. 20 crore towards primary transactions and Rs. 35 crore towards secondary transactions.
Elevate
London and Dubai-based fintech Elevate raised $5 million in pre-Series A fundraising. Elevate launched earlier this year and has over 150,000 Asian and North African users. The additional money will help it expand throughout the Middle East and Africa.
It will give a strong financial solution to the frequent difficulties faced by freelance and remote workers in MENA as they grow. Users can easily receive money from U.S. and foreign businesses and major freelancing platforms including Upwork, Maqsam, Paypal, Deel, and Toptal.
Frequently asked questions (FAQs)
Name the Top 10 Asian Startups Funding Roundup in this week ?
Sunrise Capital, Space Pioneer, Nio Power, Fibe, Gogoro, Nium, Wrtn Technologies, Fhenix, Astrotalk, Elevate, are the Top 10 Asian Startups Funding Roundup in This Week.
