Asian startups secure investment in different funding rounds from venture capital firms and angel investors to grow their businesses and scale up to be more successful in Asia and worldwide. Below are the top 10 Asian Startups Funding Roundups for this week.
LayerX
LayerX, a Japanese AI SaaS startup that helps businesses reduce back-office work, has raised $100 million in a Series B round led by U.S.-based Technology Cross Ventures (TCV). This is TCV’s first investment in a Japanese startup.
CityMall
CityMall, a community e-commerce startup focused on consumers in smaller towns and cities, has raised $47 million in its Series D funding round led by Accel.
Sola Security
Sola Security, which developed an AI platform for cybersecurity teams, has raised $35 million in a Series A round. The round was led by existing investor S32 and joined by M12, Microsoft’s Venture Fund, and New Era Capital Partners. All existing investors, including venture capitalist Mike Moritz, S Capital, and Glilot Capital Partners joined the round as well.
Utila
Utila, a fintech company, has raised an additional $22 million in its Series A expansion—just six months after securing $18 million. This brings the total Series A funding to $40 million and has almost tripled the company’s valuation in a short time.
Intella
Intella, a leading company in dialectal Arabic speech intelligence, has raised $12.5 million in an oversubscribed Series A funding round. The round was led by Prosus and included 500 Global, Wa’ed Ventures, Hala Ventures, Idrisi Ventures, and HearstLab (the investment arm of Hearst Corporation).
WheelsOn
WheelsOn, a UAE-based mobile-first car rental platform, has raised $12.5 million in a funding round. The round included $2.2 million in equity from MENA-focused private investors (including partners of Xploration Capital), $6.5 million for fleet expansion, and $4 million from local banks. This brings WheelsOn’s total funding to $12.5 million and its valuation close to $30 million.
RushOwl
RushOwl, a Singapore-based ride-sharing startup that uses AI technology to cut carbon emissions, has raised $10 million in a Series A funding round. The round was led by Gobi Partners, a pan-Asian venture capital firm.
Obita
Obita, a Hong Kong-based company that builds cross-border payment and digital finance networks, has raised more than US$10 million in an angel funding round co-led by Vision Plus Capital and Mirana Ventures.
Munify
Munify has raised USD 3 million in seed funding to build a cross-border neobank for Egyptians living abroad. The round was led by Y Combinator, BYLD, and DCG.
LineWise
LineWise, a Thailand-based startup that builds an AI-powered virtual engineer for manufacturers, has raised $1.1 million in pre-seed funding. The round saw participation from A2D Ventures, Y Combinator, Exitfund, REMUS Capital, SBXi Fund and Team Ignite Ventures.
Name the top 10 Asian Startups Funding Roundups for this week?
LayerX, CityMall, Sola Security, Utila, Intella, WheelsOn, RushOwl, Obita, Munify, and LineWise are the top 10 Asian Startups Funding Roundups for this week.
