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Funding Wrap of The Week | Asian Startups Funding Roundup | May 5 – May 10

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

Hengtong Submarine

China’s largest power and fibre optic cable manufacturer, Hengtong Optic-Electric, listed on the Shanghai Stock Exchange, owns a wholly-owned subsidiary called Hengtong Submarine Power Cable, which recently raised $145.4 million in a strategic fundraising round at a pre-money valuation of $2.5 billion.

Four strategic investors were drawn to the round, according to a regulatory filing on March 30. 

DEEPX

DEEPX, a South Korean AI semiconductor startup, raised $80.5 million in Series C funding from private equity investors.

The new fundraising round increased nearly eight times from its Series B funding of $15 million in 2021, the business stated. DEEPX was valued at $529 million after the latest round, reports said.

Linnovate Partners

Linnovate Partners, a Singapore-based alternative investment fintech startup, raised $40 million in its current round.

SeaTown Private Capital Master Fund, an Asia-focused investment manager, led the deal. Seviora, Temasek’s asset management, owns SeaTown.

XTEND

The Israeli startup XTEND has raised $40 million in Series B funding for its AI-driven operating system, XOS, which allows people to communicate with robots and drones.

Chartered Group led the round, with additional participation from Clal-Tech and other strategic investors, both old and new.

Honeycomb

The US-Israeli digital insurance startup Honeycomb revealed today that it has raised $36 million in a Series B fundraising round led by Zeev Ventures, including participation from new investors Arkin Holdings and Launchbay Capital. 

CEO Itai Ben Zakan and CTO Nimrod Sadot founded Honeycomb. The firm, which now represents 60% of the US market, started selling real estate insurance in June 2021 and is active in 16 states.

Orange

Manga localization technology startup Orange, Inc. announced pre-series A capital raise about USD 19.5 million.

Shogakukan, Globis Capital Partners, ANRI, SBI Investment, JIC Venture Growth Investments, Miyako Capital, Mitsubishi UFJ Capital, Chiba Dojo Fund, Mizuho Capital, and GFR Fund led the financing round.

Superplum

Superplum, an agritech business providing high-quality fresh fruits, revealed that it has raised $15 million from investors to expand. The company declared that the $15 million Series A funding round was successfully completed.

Leading the funding round was Erik Ragatz, a future chairman of the company and a former partner and senior advisor of the global private equity firm Hellman & Friedman.

Rize

Rize, a pioneering agritech platform dedicated to making sustainable rice cultivation viable through innovative and data-driven practices, today announces the closing of its USD$14 million Series A funding round.

This investment will enhance Rize’s technology stack including its Measuring, Reporting, and Verification technology and support further expansion into Indonesia, Vietnam, and across South and Southeast Asia.

Fairgen

Fairgen, an Israeli startup based in Tel Aviv that uses AI to respond to surveys, has acquired $8 million in seed money. Leading the round were Maverick Ventures Israel, IGNIA, Tal Ventures, and Creator Fund.

The money will be used by the business to grow both its operations and growth initiatives. While significantly lowering the time-to-insights and data collecting expenses, market research organisations can increase coverage into difficult-to-reach sectors.

UXUY

Pre-A funding of $7 million was raised by Uxuy, a decentralised multi-chain trading platform based in Singapore.

Supporters from Asia, North America, and Europe included Binance Labs, UTXO Management (Bitcoin Magazine), JDI Ventures, Bixin Ventures, SWC Global, Matrix Partners, CMS Holdings, Dewhales Capital, Comma3 Ventures, Satoshi Labs, YBB Capital, GBV Capital, Web3Vision, Pentos Ventures, NGC Ventures, Alti5, Metalpha, and GSR.

Frequently asked questions (FAQs)

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

Hengtong Submarine, DEEPX, Linnovate Partners, XTEND, Honeycomb, Orange, Superplum, Rize, Fairgen, UXUY, are the Top 10 Asian Startups Funding Roundup in This Week.

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