Investment News Summary: Mindverse and CNV secure funding, Indian firms reach milestones, and a total of 19 deals between China and India announced.
Funding Round-Up: Tech Startups Secure Millions in Series Funding
In a flurry of activity in the tech startup world, several companies have recently secured significant funding in various series rounds. Here's a round-up of the latest investments:
- Sprinto, a security and compliance automation startup, raised USD 20 million in a Series B funding round led by Accel. The funds will be used to expand the company's services and reach a wider audience.
- Passion Intelligent Technology (PassionIOT), a Chinese tech company, completed two rounds of strategic financing, banking over RMB 100 million. The funds will be used to develop and improve their IoT solutions.
- CNV, a Vietnamese cloud-based business and marketing solutions provider, secured USD 1 million in a seed funding round. The funds will be used to enhance their digital transformation products and services tailored to micro, small, and medium enterprises in Vietnam.
- Paytring, a payment orchestration platform, raised an undisclosed amount in a pre-seed funding round led by Unlimit. The funds will be used to develop and scale their platform, aiming to simplify the payment process for businesses.
- Hi-Dolphin Robot Technology secured an undisclosed amount in a Series A funding round for its AI technology company developing robot cafe and barista solutions. The funds will be used to advance their robotics and AI technology.
- Recykal, a waste management company, secured INR 1.1 billion (USD 13.2 million) as part of its pre-Series B funding round. The funds will be used to expand their services and improve waste management solutions.
- SmartNuclide, a biopharmaceutical company based in Jiangsu, secured close to RMB 100 million (USD 13.8 million) in a Series C+ funding round. The funds will be used to develop and commercialise their nuclear medicine products.
- Mebot is a productivity tool that learns and adapts to users' thoughts and preferences. Mindverse, a Singapore-based artificial intelligence technology startup, raised USD 5 million in a seed funding round for Mebot. The funds will be used to further develop and improve the tool.
- Mindverse's flagship products include MindOS Studio and Mebot. MindOS Studio is used for developing AI-native websites with personalized chat features.
- Neysa, a provider of generative AI solutions, raised USD 20 million in a funding round jointly led by Matrix Partners India, Nexus Venture Partners, and NTTVC. The funds will be used to develop and scale their AI solutions.
- Rayboch, a Chengdu-headquartered provider of optical display solutions, announced the completion of its Series A+ round of financing. The funds will be used to expand the company's product offerings and reach a wider audience.
- Medi Cover, a health tech platform under Sinopharm Group, received over RMB 100 million in Series A funding. The funds will be used to develop and improve their health tech solutions.
- Cornerstone Ventures, an India-based investment firm, launched its second investment vehicle targeting a corpus of USD 200 million.
- iBus, a communications and digital infrastructure solutions provider, secured USD 200 million from India's National Investment and Infrastructure Fund (NIIF). The funds will be used to expand the company's services and reach a wider audience.
- Zulu Defence Systems, a Bengaluru-based startup specializing in air defense solutions, raised USD 750,000 in a seed funding round led by Finvolve. The funds will be used to develop and scale their air defense solutions.
- Zhao Qiang Tai Ci Technology, a Sichuan-registered technology enterprise, completed its Series A funding round, raising an undisclosed sum from LongCapital and Reform Fund. The funds will be used to develop and improve their technology solutions.
- Moffett AI, a Silicon Valley-founded company, completed two successive rounds of financing, raising an undisclosed nine-figure RMB sum. The exact investment firms supporting Moffett AI in China during their Series B financing round are not publicly disclosed or specifically identified in available sources. The funds will be used to develop and scale their AI solutions.
- Biodeal Pharmaceuticals, a Noida-based contract manufacturer for pharmaceutical companies, secured INR 1.1 billion from the Performing Credit Fund of Piramal Alternatives (Piramal Group). The funds will be used to expand the company's services and reach a wider audience.
- Linden Chassis Tech, a Shanghai-based company focused on the R&D and manufacturing of automotive shock absorbers, raised RMB 30 million (USD 4.1 million) in a pre-Series A round of financing. The funds will be used to develop and improve their shock absorber technology.
- RisenLighten, a Beijing-based autonomous driving solutions provider, secured an undisclosed amount in an extended angel round of financing, invested by WestSummit Capital. The funds will be used to develop and scale their autonomous driving solutions.
- JSAB Technologies, a Shenzhen-based power semiconductor components manufacturer, raised over RMB 200 million (USD 27.6 million) in Series C1 financing. The funds will be used to develop and improve their power semiconductor components.
These investments highlight the continued interest and support for tech startups in various sectors, demonstrating the potential for growth and innovation in the tech industry.
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