IvyCap Ventures announces final close of third fund at INR 21 billion
IvyCap Ventures, an Indian venture capital firm, has announced the closure of its third fund at INR 21 billion (USD 251.6 million). The fund drew commitments from various institutions, family offices, and the IIT Alumni Trust, of which nearly 60% are existing investors of IvyCap’s first and second funds.
According to a statement by IvyCap, its total assets under management have grown to INR 50 billion (USD 599.1 million) following the closure of the latest fund.
Ion Energy raises USD 3 million from Beacon VC and SUN Group
Ion Energy, a Thai solar company, has raised USD 3 million in a Series A funding round from Beacon Venture Capital (Beacon VC), the corporate venture capital arm of Thailand’s Kasikornbank, and Solar United Network Group (SUN Group).
Thanapong Na Ranong, managing director of Beacon VC, said the investment was made with the aim of supporting Ion in developing solutions to meet various needs of customers, particularly enabling residential users and small and medium enterprises to access high-quality solar energy systems at affordable prices.
In a joint statement issued by Kasikornbank, Ion said the funds will be used to expand its offerings and establish billing and payment support for private power purchase agreements (PPAs) on its platform.
Recommerce platform ReturnKey raises Series A funding
ReturnKey, a Southeast Asian recommerce platform, has secured fresh funding in a Series A round, according to regulatory filings accessed by DealStreetAsia.
Recent deals completed in China:
- Sowotech Group, a technology enterprise providing advanced equipment for the electronics industry, has secured an undisclosed amount in a Series B+ funding round. The investors include Technology Financial Group, Jbao Tech, and Energy & Finance Asset Management. —36Kr
- Jury (Jingyi Dianzi), the developer of a chip-on-flex (COF) material technology that enables the production of flexible semiconductors, has secured RMB 30 million in a pre-Series A funding round from Rssemi Semiconductor. —36Kr
- Gege AI, a generative artificial intelligence application for music production and songwriting, has secured a seven-figure RMB sum of investment from Wuxi Capital Group. —36Kr
- Ling Xuan Precision Machinery, a manufacturer of metal processing machinery, has announced the completion of an angel funding round, raising an undisclosed amount from Shenergy ICY Capital. —36Kr
- AnDiConBio, a developer of drugs designed to counteract respiratory infections, has completed a nine-figure RMB sum Series A funding round. The investors include Wenzhou Capital and Cowin Capital, among others. The funds will be used to advance AnDiConBio’s drug development pipeline and support clinical trials. —36Kr
- Innoplier, a Hefei-based producer of robots designed to work in pipe networks, has completed an angel round of financing. The investors include Wuhu Zhefang Technology Venture Capital and Hajiang Investment. The company plans to use the funds to further develop its technology and expand its market presence. —36Kr
- TWTH, a door-to-door shipping company serving primarily the US market, has completed its Series B funding round, garnering an eight-figure RMB sum of investment from Baiyun Holding and its subsidiary Baiyun Fund. The company aims to utilize the funds to enhance its logistics infrastructure and improve its service offerings. —36Kr
- Insight Information Technology, a company using machine vision and generative AI technology to digitally transform the steel manufacturing industry, has recently completed its Series A funding round, bagging an eight-figure RMB sum. The round was led by Qinglan Capital, with participation from K2VC, Yonghua Capital, Zizhu Xiaomiao Langrui Fund, and Ensai Capital, among other institutional investors. —36Kr
Latest funding deals in India:
- Dexif, a platform for fixed income investment products, has secured USD 4 million in a seed funding round led by existing backer RTP Global. The startup will utilize the capital to enhance its technology, expand business operations, strengthen its talent pool, shore up its offerings, and acquire users. —Inc42
- Niqo Robotics (formerly known as TartanSense), an agriculture-focused deep tech company, has raised USD 9 million in a funding round led by Brida Innovation Ventures. The round also saw participation from existing investor Omnivore Partners. —Entrackr
- Charge Zone, an electric vehicle charging infrastructure provider, has received a commitment of USD 19 million from British International Investment (BII). —Entrackr
- Ellementry, a homeware and lifestyle brand, has raised an undisclosed amount of funding from She Capital. The startup plans to utilize the funds to expand its product offerings, enhance its production capabilities, and grow its market presence. —VCCircle
- Perceptyne, a provider of artificial intelligence-powered robotics solutions, has raised an undisclosed amount in a pre-seed funding round led by Venture Catalysts. The round also saw participation from T-Hub, Z21 Ventures, Tarun Mehta (Ather), Swapnil Jain (Ather), Pawan Chandana (Skyroot Aerospace), Bharat Daka (Skyroot Aerospace), Naveen (My Ally), Satya (Bluecopa), and Aditya Damani (Credit Fair). —VCCircle
- Neuro42, a provider of AI- and robotics-driven medical diagnostics and imaging solutions, has raised an undisclosed amount in a funding round from angel investor Karna D Shinde. —VCCircle
- Pointo, a Gurugram-based battery technology company, has raised INR 62 million (USD 743,000) in a seed funding round from Equirus Innovate X Fund (EIF) and other undisclosed investors. With this funding, Pointo plans to expand its physical centers to serve ten cities over the next 12 months. —VCCircle
- vHub.ai, an influencer marketing platform, has raised an undisclosed amount in a seed funding round from a slew of investors including Z21 Ventures and Start Up India Seed Fund Scheme. —VCCircle
- Briskpe, a Mumbai-headquartered cross-border payments company, has raised USD 5 million in a seed funding round from PayU, the fintech and payments business of Prosus. —VCCircle
- Assert AI, an AI technology company specializing in computer vision solutions, has raised USD 4 million in a Series A funding round from Ramesh Hariharan, Prashant Purker, and Arya.ag, among others. The company plans to utilize the funds to expand its market presence and double down on R&D. —VCCircle
- Reelo, a loyalty marketing platform for consumer-facing businesses, has secured USD 1 million in a funding round from angel investor Gokul Rajaram. The capital will enable Reelo to acquire talent, upgrade its technological capabilities, build a personal data-driven assistant that automates marketing for them, and expand its presence in new and existing markets. —VCCircle
Xefco, Thrixen, Salmon, and more led Tuesday’s headlines:
- Xefco, an Australian sustainable manufacturing company, raised AUD 10.5 million (USD 6.9 million) in an extension to its seed funding round, led by Main Sequence. Breakthrough Victoria, Virescent Ventures, Investible, and Voyagers Climate-Tech Fund also participated in this investment.
- Thrixen, a Singapore-based medtech startup, raised USD 7 million in an oversubscribed funding round jointly led by new investors 22Health Ventures and John Ballantyne (Aldevron).
- Salmon, a Manila-based financial services company, bagged USD 25 million in a Series A1 funding round led by the International Finance Corporation (IFC), with participation from Northstar Group and other investors. The IFC contributed USD 7 million of the total amount.
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