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Funding Wrap of The Week | Asian Startups Funding Roundup | May 26 – May 31

Asian Startups raised capital in order to expand and move into more successful. Here is this week’s Top 10 Asian Startups Funding Roundup.

Asian Startups raised capital in order to expand and move into more successful. Here is this week’s Top 10 Asian Startups Funding Roundup.

The Top 10 Asian Startups Funding Roundup of This Week

Shorooq Partners

In partnership with IMM Investment Global (IMMG), Shorooq Partners has announced the first closing of its $100 million second private credit fund, which aims to spur innovation and growth in the MENA digital sector.

Pure Harvest, a smart farm in arid conditions, and Tamara, Saudi Arabia’s first Buy Now, Pay Later platform and fintech unicorn, are two notable investments from the fully deployed first credit fund that demonstrate the revolutionary power of non-dilutive financing.

Firefly

Firefly, a “infrastructure as code” startup, raised $23 million to address the complex cloud asset management challenge. That follows robust tech demand and fourfold revenue growth in 2023.

The firm’s newest accomplishment follows Hamas’ October 2023 massacre of co-founder CTO Joseph “Sefi” Genis at the Nova music festival.

Orca AI

Orca AI, an Israeli firm that creates technology for autonomous ships, has raised $23 million. The company has raised $40 million in total throughout its four funding rounds since its founding in 2018.

With participation from all present investors as well as new investors, including American funds Ankona Capital Partners and Santa Barbara Venture Partners, the current round was led by OCV Partners and Mizmaa Ventures.

iyris

Saudi Arabia-based agritech iyris closed a $16 million Series A fundraising round headed by Ecosystem Integrity Fund and supported by Global Ventures, Dubai Future District Fund, Kanoo Ventures, Globivest, and Bonaventure Capital.

The 2018 startup iyris, originally RedSea, addresses global food security issues while reducing environmental effect. 

Grubtech

Grubtech, a SaaS integration and unified commerce platform company situated in Dubai, United Arab Emirates, has secured $15 million in investment.

Jahez Group led the round, with participation from Addition and Hambro Perks’ MENA-focused fund, Oryx Fund.

AVPN

The Asian Development Bank and Google.org are supporting the $15 million Artificial Intelligence Opportunity Fund. Asia-Pacific, which was unveiled by AVPN, the largest network of social investors based in Singapore.

In order to ensure that more people in the region, particularly those from underserved communities, have access to jobs and roles presented by AI, the fund is a three-year programme that will provide Asia’s workforce with the necessary AI knowledge and tools for the changing work landscape.

Zypp Electric

Zypp Electric has declared the completion of its $15 million Series C investment round, with a successful launch. Japan’s ENEOS was leading this round. As part of its continuing $50 million round, which is divided into $40 million in stock and $10 million in debt, the Series C1 fundraising includes $15 million in equity close.

Renowned investors, such as ENEOS, joined the equity investment alongside current investors, such as 9unicorns, IAN fund, venture catalysts, WFC, and others.

YoLa Fresh

Morocco-based agritech YoLa Fresh raised $7 million in pre-Series A fundraising from Al Mada Ventures, Algebra Ventures, E3 Capital, Janngo Capital, and FMO, the Dutch entrepreneurial development bank.

YoLa Fresh, founded in 2023 by Youssef Mamou and Larbi Alaoui Belrhiti, connects farmers directly with stores and food service firms, increasing farmer and retailer revenues, reducing food spoilage, and offering consumers fresher, cheaper options.

Turno

Turno, a business that distributes and loans commercial electric vehicles, has raised $5.5 million from new and current participants.

As per the paperwork, the organisation plans to utilise this money for expansion and working capital needs, as decided by the board.

CoverSure

Consumer-focused InsurTech CoverSure raised $4M in pre-series A investment sponsored by Enam Holdings.

It will use the funding to construct a consumer-centric insurance interaction platform combining data-intelligence and machine learning. This investment would help CoverSure expand across India and improve its InsurTech position.

Frequently asked questions (FAQs)

Name the Top 10 Asian Startups Funding Roundup in this week ?

Shorooq Partners, Firefly, Orca AI, iyris, Grubtech, AVPN, Zypp Electric, YoLa Fresh, Turno, CoverSure, are the Top 10 Asian Startups Funding Roundup in This Week.

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