Kaya Founders announces second close of two funds
Kaya Founders, a Philippines-based venture capital firm, has announced the second close of its two latest funds, having secured PHP 1 billion (USD 18 million) in commitments.
According to the firm’s statement, investors that have committed to the funds include Pavilion Capital, Gabriel Sunshine and Geraldine Sunshine from Bracebridge Capital, and Concentric Equity Partners, among unnamed family offices, high-net-worth individuals, and entrepreneurs.
The firm also said that its total assets under management (AUM) have reached PHP 1.25 billion (USD 22.5 million) in value. It aims to eventually secure PHP 1.4 billion (USD 25 million) in total across the two funds, which invest in early-stage startups in the Philippines and Southeast Asia.
AnyMind Group agrees to acquire Arche Digital
AnyMind Group, a Singapore-founded brand enablement company, has agreed to acquire Arche Digital, an e-commerce enabler, and fulfillment services provider in Malaysia. AnyMind did not disclose the financial terms of this deal.
According to AnyMind’s statement, this acquisition aims to strengthen its business-process-as-a-service (BPaaS) capabilities for domestic and international enterprises in Malaysia. It intends to integrate its proprietary capabilities with Arche Digital’s operational expertise in e-commerce, developing a BPaaS model comprising a mix of software and operational support functions.
“Arche Digital has a management team with deep expertise in the e-commerce field in Malaysia, and a track record of supporting various enterprises. We are confident that AnyMind and Arche Digital are able to create strong synergy together,” said Kosuke Sogo, co-founder, and CEO of AnyMind.
AnyMind last made an acquisition in September 2023, when it took control of Digital Distribusi Indonesia (DDI), an Indonesia-based e-commerce enabler and distributor.
Animoca Brands invests in UAE-based Eesee
Eesee, a UAE-based digital asset trading platform, has received an undisclosed amount of investment from Hong Kong-based Web3 company Animoca Brands.
In addition to capital, Animoca Brands will offer Eesee industry expertise and connections, aiding its goal of becoming a “one-stop liquidity solution for sellers.”
Yat Siu, the co-founder and executive chairman of Animoca Brands, commented, “We’re excited about investing into Eesee and entering into a partnership that aligns strongly with the vision shared by both of our companies to bridge real-world assets into the Web3 landscape. We look forward to the progress and success of Eesee as the platform continues to grow and evolve.”
Recent deals completed in China:
- Biosmelt Pharma, a Shanghai-based biopharmaceutical company, has secured an eight-figure RMB sum in an extended angel funding round from various undisclosed investors. —36Kr
- Nano Meida Optoelectronics Technology, a Jiangsu-registered enterprise specializing in silver nanowire transparent conductive films, has raised RMB 50 million in a Series A+ round of financing. The round was led by SS Capital and saw participation from BMC, Ravine Capital, and Suzhou Jucheng Venture Capital. The company plans to use the funds to bolster production line infrastructure, intensify R&D efforts, and broaden its market reach. —36Kr
- Kingcera, a dental materials enterprise based in Zhuzhou, has recently concluded a new round of financing, bagging an eight-figure RMB sum. Century Galaxy and Jingjiu Ruihe were the lead investors, while Lingyi Capital and Shuimu Tsinghua Alumni Seed Fund participated. Six Sigma Capital was appointed as the long-term financial advisor. —36Kr
- Ruiyu Technology, a large model developer originating from Shenzhen, has secured over RMB 50 million in an angel round of financing. The round was led by Dongfang Precision, with Kinzon Capital participating, and Yuanhe Capital acting as the exclusive financial advisor. The company intends to allocate the capital toward product R&D endeavors, its business forays, and the expansion of its workforce. —36Kr
Latest funding deals in India:
- Ultrahuman, a Bengaluru-based wearable technology startup, has secured a total of USD 35 million through a mix of debt and equity funding from its existing investors. The startup, which helps users keep track of various health-related metabolic parameters, raised USD 25 million in equity funding as part of its Series B round, while securing another USD 10 million in debt. Blume Ventures, Steadview Capital, Nexus Venture Partners, and Alpha Wave Incubation, along with Deepinder Goyal (Zomato), participated in this investment.
![Promotional image of Ultrahuman’s M1 device, which is equipped with a continuous glucose monitor (CGM) sensor. Ultrahuman said that pairing the device with its app will enable users to identify the “right foods and habits for [their] body.”](https://console.kr-asia.com/wp-content/uploads/2024/03/Ultrahuman-M1-CGM-Monitor-1024x683.jpg)
- Pocket FM, a Mumbai-based audio streaming platform, has raised USD 103 million in a Series D funding round led by existing investor Lightspeed Venture Partners, with participation from Stepstone Group. Pocket FM plans to use the capital to strengthen its entry into the US, Europe, and Latin American markets. The company said it will also continue to strengthen its content library and develop a strong IP playbook. —VCCircle
- Optimo Loan, a Bengaluru-based lending platform for micro, small, and medium enterprises, has secured USD 10 million in a seed funding round jointly led by Blume Ventures and Omnivore. The round also saw participation from founder Prashant Pitti. The startup aims to use the funds to expand its operations, improve its technology stack, recruit talent, and broaden its presence to 20 locations in rural India by the end of 2024. —VCCircle
- Liquidnitro Games, a Hyderabad-based gaming technology company, has raised USD 5.25 million in a seed funding round led by Nexus Venture Partners. The round also saw participation from undisclosed angel investors of the gaming industry from the US, Canada, Europe, and India. —VCCircle
Blitz Electric Mobility, B Capital, the Inevitable Games Fund, and more led yesterday’s headlines:
- Blitz Electric Mobility, an Indonesia-based solutions provider for electric vehicle adopters in the logistics sector, bagged USD 1.6 million, completing the extension of its oversubscribed seed funding round. The round was led by ADB Ventures and saw participation from Iterative VC, FiveFortyAlpha, Third Derivative, BonBillo Fund, BANSEA, and Satvik Investment.
- B Capital, a global investment firm established by Facebook co-founder Eduardo Saverin, secured USD 750 million in commitments, closing its second Opportunities Fund.
- King River Capital and Immutable launched a USD 100 million fund with the support of Polygon Labs. Dubbed the Inevitable Games Fund (IGF), the new fund will invest in “premier game studios, Web3 infrastructure, and immersive gaming experiences,” with King River Capital leading the investment process while Immutable and Polygon Labs provide key sourcing and Web3 gaming expertise.
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