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Computer Vision Eastern Asia Electronics Software

3i Raises US$24M in Series A Funding

– 3i Inc., a Seoul, South Korea immersive experience company specializing in metaverse technology, artificial intelligence, augmented and virtual reality, raised nearly $24M(₩28B Won) in Series A funding.
– The round was led by SV Investment with participation from Korean Development Bank, LB Investment, DS Asset, YG Investment, Intops Investment, Enlight Ventures, NBH Capital, and Korea Asset Investment Securities.
– The company intends to use the funds to develop new products and expand its metaverse platform business.

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Blockchain Cryptocurrency Eastern Asia FinTech

Crypto asset management platform Cobo bags $40M Series B

– Cobo, a Singapore-based crypto asset management platform, raised $40m in Series B funding.
– The round was co-led by DST Global, A&T Capital and IMO Ventures.
– The company will use its proceeds for the development of DeFi as a service (DFaaS) infrastructure and its existing custody services such as wallet as a service (WaaS), trading and staking as a service (StaaS).
– The funding will also be used to apply for regulatory licenses to ensure strict compliance to the relevant anti-money laundering (AML) and counter the financing of terrorism (CFT) requirements.
– Amid the growing interest for cryptocurrencies among Asian investors, institutional investors and retail investors are seeking diversification options to hedge against inflation and other risks, the company said in its statement.

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Eastern Asia Enterprise Internet Mobile

New Core Tech Raises USD 35M in Series C Funding

– New Core Tech is a Shanghai, China-based manufacturing company.
– The company raised USD 35M in Series C funding.
– The round was led by XiaoMi, Shunwei Capital with participation from Northern Light Venture Capital and Cowin Capital.
– The new investment will be used to partnership and channel expansion and talent acquisition.

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Biotechnology Eastern Asia Pharmaceutical

IASO Biotherapeutics Secures $108 Million Series C Funding to Advance Global Development of Innovative Cell Therapies

– IASO Biotherapeutics announced the completion of $108m Series C to advance the global development of novel cell therapies and biologics for oncology and autoimmune diseases.
– The round was led by CDH Baifu, and followed by CCB International, with strong participation from Everbright Limited, Co-Stone Capital, CNCB Capital and Plaisance Capital.
– Current shareholder GL Ventures also participated.
– Since its founding in 2017, IASO Bio has raised more than $178m.
– Proceeds from the financing will be used to accelerate the global development and regulatory submissions of multiple novel cell therapies.

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Apps Eastern Asia Journalism Media and Entertainment Mobile News

News aggregator SmartNews raises $230 million, valuing its business at $2 billion

– SmartNews, a news aggregation website and app, raised $230m in Series F funding.
– The round was led by Princeville Capital and Woodline Partners, and joined by JIC Venture Growth Investments, Green Co-Invest Investment, and Yamauchi-No.10 Family Office in Japan.
– Existing investors participated in this round including ACA Investments and SMBC Venture Capital.
– The company plans to develop more features for its U.S. audience that will focus on consumer health and safety.

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Automotive Autonomous Vehicles Eastern Asia

DeepRoute.ai Raises $300M in Total Funding

– DeepRoute.ai is a self-driving technology company committed to advancing urban logistics and robotaxis.
– The company raised a Series B funding round totaling to more than $300m USD.
– The round was led by Alibaba Group (NYSE: BABA) and other venture capital companies including Jeneration Capital. Previous investors Fosun RZ Capital, Yunqi Partners, and Glory Ventures also participated in the round.
– The new investment will be used to further research and development, scale automaker collaboration and fleet operation, and support the expansion of the team.

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Eastern Asia Hotel Housekeeping Service Property Development Property Management Real Estate Investment Vacation Rental

H2O Hospitality secures $30M Series C to expedite hotel digital transformation

– H2O Hospitality, a South Korea and Japan-based unmanned hotel management company, raised $30m funding.
– The round was led by Kakao Investment and Korea Development Bank, Gorilla Private Equity, Intervest and NICE Investment also participated.
– H2O Hospitality will expand its business further by adding various types of accommodations in South Korea and Japan in 2021 and 2022 and plans to enter Singapore and Indonesia in 4Q in 2022 in line with its Southeast Asia penetration strategy.

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Eastern Asia Music

Allsaints Music Group Raises $60M in Series B1 Funding

– Allsaints Music Group is a Hong Kong, China-based music platform.
– The company raised $60M in Series B1 funding.
– The round was led by CMBI and OPPO with participation from Xiaomi and Hui Capital.
– The new investment will be used to accelerate growth and expand operations.

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Eastern Asia Information Technology

Online learning platform CLASS101 bags $26M Series B to support growth

– Online education platform CLASS101 raised $25.8m in Series B funding.
– The round was led by Goodwater Capital, with additional participation from previous backers Strong Ventures, KT Investment, Mirae Asset Capital and Klim Ventures.
– The company plans to use the proceeds to focus on hiring more talent, as well as expanding domestic business and overseas markets in the U.S. and Japan.

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Consulting Eastern Asia Information Services Information Technology Knowledge Management

Lynk Receives New Funding From UBS’s Investment Bank

– Lynk is a global AI-driven Knowledge-as-a-Service platform.
– The company extended its previously announced Series B to include new funding from UBS’s Investment Bank business division.
– UBS’s investment brings Lynk’s total funding to date up to $35M.
– The company plans to use the funds to expand its offerings and global reach.

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Analytics Data Visualization Eastern Asia Finance Financial Services

Oddup Raises $12.8M in Series C Funding

– Oddup is a Hong Kong-based provider of data-driven insights for the startup and cryptocurrency ecosystems.
– The company closed a $12.8M Series C funding round.
– Backers included new investors IRO Capital, Elliot Capital and Jervois Hillier as well as existing investors Click Ventures, White Capital and The Times Group’s strategic investment arm, Brand Capital.
– The new investment will be used to accelerate the company’s global expansion and product development capabilities, with a particular focus on crypto-assets, digital ledger technologies, blockchain and virtual currencies.

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Artificial Intelligence Cloud Storage Collaboration Computer Vision Construction Eastern Asia Geospatial Information Technology Software

Korean 3D spatial data tool startup Urbanbase closes $11.1M Series B+ round

– Urbanbase, a Seoul-based company that develops a 3D spatial data platform for interior planning and design, announced it has raised $11.1 million (13 billion won) in a Series B+ round as it scales up.
– This round of funding was led by Hanwha Hotel & Resort.
– Urbanbase, founded in 2013 by chief executive officer and a former architect Jinu Ha, has now raised $20 million (approximately 23 billion won) in total.

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Biotechnology Eastern Asia Health Care Pharmaceutical

Lynk Pharmaceuticals Closes $50M Series B Financing

– Lynk Pharmaceuticals is a Hangzhou, China-based pharmaceutical R&D company.
– The company completed Series B financing of $50m.
– The round was led by Lilly Asia Ventures (LAV) with participation from New Alliance Capital and Hangzhou HEDA Biological Medicine Venture Capital Partnership (L.L.P.) and its original shareholders Legend Capital and Med-Fine Capital.
– The new investment will be used to conduct Phase I and II clinical trials for multiple programs in the R&D pipeline, expand international business, strengthen international collaborations with companies and support preclinical development of new projects.

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Eastern Asia Manufacturing

Japan’s B2B ordering and supply platform CADDi raises $73 million Series B funding

– CADDi, a B2B ordering and supply platform in the manufacturing and procurement industry, raised $73m in Series B funding.
– The round was led by Globis Capital Partners and World Innovation Lab (WiL), with participation from existing investors DCM and Global Brain.
– Six new investors also joined the round including Arena Holdings, DST Global, Minerva Growth Partners, Tybourne Capital Management, JAFCO Group and SBI Investment.
– The post-money valuation is estimated at $450m.
– The funding proceeds will be used for accelerating digital transformation of the platform, hiring and expanding to global markets.

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