In today’s briefing:
- Japan-Based Nuclear Fusion Firm Powers up with $79m Raise
- Nazara Subsidiary Nodwin Gaming Raises $28m at $349m Valuation
- Jenfi Nets US$6.6M to Expand Its Revenue-Based Financing Business in SEA
- Northstar, Golden Gate Join $4.3m Round of SG AI Firm
- Ex-Zalora CMO’s Telehealth Platform ORA Secures US$10M Series A
- MetLife, Khazanah Join US$196M Series B Round of Insurtech Startup Bolttech
Japan-Based Nuclear Fusion Firm Powers up with $79m Raise
- Kyoto Fusioneering, a Japan-based energy company, has raised US$79 million in an oversubscribed round.
- The firm develops equipment that harnesses fusion energy, which involves merging two or more hydrogen atoms – the same process that powers the sun.
- According to the company, its method of energy generation produces no greenhouse emissions, no long-lived radioactive waste, and no risk of nuclear reaction-triggered meltdowns.
Nazara Subsidiary Nodwin Gaming Raises $28m at $349m Valuation
- Nodwin Gaming said it has secured US$28 million in funding from new and existing investors to grow its gaming and esports ecosystem in India.
- With the round, Nodwin, a subsidiary of media platform Nazara Technologies, said its post-money valuation has reached US$349 million. It added that its revenue has grown by a compound annual growth rate of 68% in the last 2 years.
- Nodwin didn’t disclose the names of five investors participating in this round.
Jenfi Nets US$6.6M to Expand Its Revenue-Based Financing Business in SEA
- Jenfi, a fintech company specialising in revenue-based financing, has raised US$6.6 million in pre-Series B funding.
- Headline Asia led the round, with participation from Monk’s Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital, and Atlas Ventures. Existing early investors also participated.
- With the funding, the fintech firm plans to expand its presence in Singapore, Vietnam and Indonesia by broadening its customer base while expanding into new markets across Southeast Asia.
Northstar, Golden Gate Join $4.3m Round of SG AI Firm
- Only six months after its establishment, Singapore-based Locofy launched a beta of its low-code development tool in January 2022.
- It has since received over 100,000 sign-ups across 195 countries.
- Its tech helps designers automate front-end code directly from their designs and integrate them with existing workflows, leveraging AI to convert designs into coding languages to save time.
Ex-Zalora CMO’s Telehealth Platform ORA Secures US$10M Series A
- Singapore-headquartered telehealth platform ORA has raised US$10 million in a Series A funding round co-led by TNB Aura and Antler.
- Gobi Partners, Kairous Capital, and GMA Ventures also joined the round, bringing ORA’s total funding to date to above US$17 million.
- With this new round of funding, ORA will seek to expand its presence into new territories, both geographically and with new offerings.
MetLife, Khazanah Join US$196M Series B Round of Insurtech Startup Bolttech
- Singapore-based insurtech startup bolttech has closed its Series B financing round at US$196 million, led by existing shareholder Japanese insurance holding company Tokio Marine.
- Other key investors include global life insurance giant MetLife through its subsidiary MetLife Next Gen Ventures, Malaysia’s sovereign wealth fund Khazanah Nasional, and new and existing shareholders.
- This funding takes the company’s valuation to US$1.6 billion and comes exactly seven months after Tokio Marine led the first tranche of bolttech’s Series B round.
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