Private Markets

Founded in 2017 in Beijing, Nreal.ai (1690070D CH) is an Augmented Reality (AR)/ mixed reality (MR) technology company that develops and sells AR glasses.
The company’s glasses have received wide recognition as they are designed to be lightweight, comfortable and affordable, making them more accessible to consumers.
The company has raised more than USD240m in funding and as per the company, we could expect an IPO over the next 18-24 months.

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Apr 15

Daily Brief Private Markets: Shanghai Longcheer: Leading ODM Vendor Leveraging Its Expertise for AR/VR and more

By Smartkarma Daily Briefs | Daily Briefs, Private Markets

In today’s briefing:

Shanghai Longcheer: Leading ODM Vendor Leveraging Its Expertise for AR/VR

Shanghai Longcheer: Leading ODM Vendor Leveraging Its Expertise for AR/VR

Shanghai Longcheer Technology is a Chinese company that specializes in providing smart products and services including smart phone ODMs, tablets, VR/AR headbands, smart wearables and smart home products.
Founded in 2022, the company is one of top three global integrated service providers of smartphone ODMs.
Longcheer’s previous attempt to go public in 2018 was rejected, however, it has revived its IPO plans and in 2023, expressed its interest in seeking a public listing.

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Apr 13

Daily Brief Private Markets: Rokid Corporation: AR Player Catering to the Industrials Sector and more

By Smartkarma Daily Briefs | Daily Briefs, Private Markets

In today’s briefing:

Rokid Corporation: AR Player Catering to the Industrials Sector

Rokid Corporation: AR Player Catering to the Industrials Sector

Founded in 2014, Hangzho Rokid Technology (2004144D CH) is a Chinese developer of AR glasses and AI robotics software products, and the company operates across 10 countries.
Rokid’s glasses are mainly used for industrial purposes including in oil & gas, electric power, aviation, rail transport and others thereby creating its own niche in the AR/VR glasses sector.
The company has just expanded into North America with further global expansion on the cards and may likely to seek an overseas listing.

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Apr 11

Daily Brief Private Markets: NAVER Z: Owner of The Fastest Growing Avatar Platform Zepeto and more

By Smartkarma Daily Briefs | Daily Briefs, Private Markets

In today’s briefing:

NAVER Z: Owner of The Fastest Growing Avatar Platform Zepeto
Japan’s SmartRyde Raises $3.4m to Grow Airport Transfer Services
SG Biotech Firm Secures $8.1m at $210m Valuation
Malaysian Fintech-As-A-Service Firm Soft Space Closes US$31.5M Series B1 Round
Tencent, SGInnovate Join US$18.1M Series A Round of Horizon Quantum Computing
ChopValue Scores US$7.7M Funding to Recycle Chopsticks into Furniture, Home Elements

NAVER Z: Owner of The Fastest Growing Avatar Platform Zepeto

Naver Z Corporation, a subsidiary of NAVER Corporation, focuses on developing VR and AR technologies. The company can be regarded as one of the promising players in the Metaverse market.
The company’s flagship product, ZEPETO, has become particularly popular among younger users and has been downloaded over 300 million times worldwide.
Naver Z (1838597D KS) ‘s VR and AR technologies have a variety of use cases, and the company has worked with businesses and brands in a variety of industries.

Japan’s SmartRyde Raises $3.4m to Grow Airport Transfer Services

SmartRyde, a Japan-based marketplace for pre-booked airport transfers, has raised around 450 million yen (US$3.4 million) through a third-party allocation of shares and a subordinated loan from Japan Finance Corporation.
NVenture Capital led this series A+ funding round, which also saw participation from investors such as SMBC Venture Capital, Yamaguchi Capital, and Hiroshima Venture Capital.
SmartRyde provides its transfer services to over 700 airports worldwide.

SG Biotech Firm Secures $8.1m at $210m Valuation

Singapore-based SCG Cell Therapy, a biotech firm, has recently raised US$8.1 million at a valuation over US$210 million, according to VentureCap Insights, which tracks regulatory filings in Singapore.
The lead backer of the fundraise – which was marked as a series C1 round – was Hong Kong-based Smartech Investment Holdings, pouring about US$3.4 million into SCG Cell Therapy.
The investment firm has also backed other Singaporean biotech firms such as Biocheetah and Lion TCR.

Malaysian Fintech-As-A-Service Firm Soft Space Closes US$31.5M Series B1 Round

By e27

Soft Space, a fintech-as-a-service company in Malaysia, has completed its Series B extension round at US$31.5 million led by Southern Capital Group.
Returning investor transcosmos, strategic investor JCB, and Hibiscus Fund (jointly managed by RHL Ventures and South Korea’s KB Investment) also participated.
“Building on our strong momentum, the new funds will help expand our global footprint and widen our customer base by accelerating the innovation of our full-stack payments platform while expanding into next-generation technological solutions,” said Soft Space CEO Joel Tay.

Tencent, SGInnovate Join US$18.1M Series A Round of Horizon Quantum Computing

By e27

Singapore-based Horizon Quantum Computing has secured US$18.1 million in a Series A investment from Sequoia Capital India, Tencent, SGInnovate, Pappas Capital and Expeditions Fund.
The investment will allow the startup to strengthen its science and engineering teams to accelerate product development, establish its new engineering centre in Europe, and bring its technology to the market.
This round takes Horizon Quantum’s total funding to approximately US$21.3 million.

ChopValue Scores US$7.7M Funding to Recycle Chopsticks into Furniture, Home Elements

By e27

ChopValue, a Canadian startup designing and manufacturing products using an innovative, high-performance material engineered from recycled chopsticks, has closed a US$7.7 million funding round.
Two unnamed high-profile technology entrepreneurs with expansion interests in Asia Pacific and Europe led the round.
Several corporate VC funds and existing investors (VC funds in the climate-tech space and institutional investors such as EDC and BDC) also participated.

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Mar 31

Daily Brief Private Markets: Marshall Wace Bets $30m in Singapore’s Thunes and more

By Smartkarma Daily Briefs | Daily Briefs, Private Markets

In today’s briefing:

Marshall Wace Bets $30m in Singapore’s Thunes
Thai Insurtech Firm Roojai Bags US$42M in Fresh Funding
Right-Hand Cybersecurity Raises US$5M Series A for Asia, US Expansion
B2B Life Sciences Marketplace Labviva Secures US$20M Series A
Qoala Raises Another $7.5m, Targets Profitability in 3 Years

Marshall Wace Bets $30m in Singapore’s Thunes

Thunes, a global cross-border payments firm headquartered in Singapore, has raised US$30 million from London-based hedge fund Marshall Wace, according to VentureCap Insights, which tracks regulatory filings in the city-state.
Peter de Caluwe, CEO of Thunes, has confirmed to Tech in Asia that Marshall Wace is the new investor.
The funding brings the company closer to becoming a billion-dollar company, with an estimated post-money valuation now pegging at US$776 million after raising about US$166 million in equity funding.

Thai Insurtech Firm Roojai Bags US$42M in Fresh Funding

By e27

Thai insurtech company Roojai has secured US$42 million in new financing round, as per multiple news reports.
HDI International, a subsidiary of Germany’s Talanx Group, led the round that also saw participation from existing investor IFC.
About US$32 million will be invested via direct injection and the remaining amount through a secondary share transaction.

Right-Hand Cybersecurity Raises US$5M Series A for Asia, US Expansion

By e27

Singapore-based startup Right-Hand Cybersecurity has received US$5 million Series A funding from former PayPal executive Jack Selby and his venture capital firm AZ-VC.
The startup will use the money to expand its operations across Asia and the US while investing heavily in its human risk management (HRM) platform.
Right-Hand aims to expand its platform integrations with commonly adopted technologies to improve employee behaviours and lower risk tendencies.

B2B Life Sciences Marketplace Labviva Secures US$20M Series A

By e27

Labviva, a Singapore- and US-based AI-driven life sciences digital marketplace, has secured US$20 million in Series A financing led by Biospring Partners.
Existing investors Senator Investment Group, B Capital, and Glasswing Ventures co-invested.
The Series A funding brings the total amount raised since inception to US$30 million.

Qoala Raises Another $7.5m, Targets Profitability in 3 Years

Indonesian insurtech startup Qoala announced that it has raised US$7.5 million in a series B extension round led by Europe’s responsAbility Investments.
Existing investors Eurazeo and Indogen as well as new investor AppWorks also participated in the round.
The startup declined to comment on its valuation, but VentureCap Insights currently pegs it at US$310 million following the fundraise.

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Mar 24

Daily Brief Private Markets: Rebellions: Challenging Nvidia in the AI-Powered Semiconductor Chips and more

By Smartkarma Daily Briefs | Daily Briefs, Private Markets

In today’s briefing:

Rebellions: Challenging Nvidia in the AI-Powered Semiconductor Chips
Indian Home Decor Unicorn Livspace Slashes 100 Jobs
Japanese Bank Mizuho Leads ~US$270M Series D Equity Round of Kredivo
QR Payment Solution for Restaurant Consumers Qlub Secures US$25M Funding
Vietnam’s Vingroup Invests in Grab Competitor Be

Rebellions: Challenging Nvidia in the AI-Powered Semiconductor Chips

Established in 2020, Rebellions is a leading AI based fabless startup in Korea. In February 2023, Rebellions launched a new artificial intelligence chip, challenging the global leader NVIDIA.
According to the company, its ATOM chip targets specific tasks, allowing the chip to consume only about 20% of the power of an Nvidia A100 chip on those tasks.
Since the company’s inception, Rebellions raised 122 billion won in funding including 30 billion won from KT. The company was last valued at 350 billion won in June 2022.

Indian Home Decor Unicorn Livspace Slashes 100 Jobs

KKR-backed home decor unicorn Livspace said it has let go of 2% of its over 5,000-member workforce as it aims to hit profitability as early as this year.
Founded in 2014, Livspace offers tech-enabled interior design and renovation services, positioning itself as the Amazon of home decor.
One of its notable offerings is Canvas, a SaaS platform that lets designers engage with their customers.

Japanese Bank Mizuho Leads ~US$270M Series D Equity Round of Kredivo

By e27

Kredivo Holdings (formerly FinAccel), the parent company of Kredivo and Krom Bank Indonesia, has closed its Series D equity round of funding at ~US$270 million.
Founded in 2016, Kredivo is a leading player in the digital financial services industry. It provides customers with instant credit financing for e-commerce and offline purchases and personal loans based on proprietary, AI-enabled real-time decisions.
The products include online and offline Buy Now, Pay Later, personal loans, credit cards (physical and virtual) and neobank Krom.

QR Payment Solution for Restaurant Consumers Qlub Secures US$25M Funding

By e27

qlub, a payment solution that splits restaurant bills between customers, has raised US$25 million in a new funding round, bringing its total fundraising to US$42 million.
The startup plans to use the new capital to accelerate growth, expand to new markets, and build new value-added services for restaurants and customers on the qlub platform.
qlub enables customers to pay their restaurant bills in various options — as a group, splitting, or tipping — without needing an app or registration.

Vietnam’s Vingroup Invests in Grab Competitor Be

Green and Smart Mobility (GSM) said it will back ride-hailer Be Group‘s efforts to use electric vehicles in Vietnam.
GSM was just launched earlier this month by Vingroup chairman Pham Nhat Vuong.
In the first phase of their collaboration, Be Group and GSM will partner with Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) to offer exclusive policy deals for Be drivers to rent or purchase VinFast electric cars and motorbikes.

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Mar 23

Daily Brief Private Markets: LG CNS: Aggressive Expansion of AI Capabilities in B2B IT Consulting Services and more

By Smartkarma Daily Briefs | Daily Briefs, Private Markets

In today’s briefing:

LG CNS: Aggressive Expansion of AI Capabilities in B2B IT Consulting Services

LG CNS: Aggressive Expansion of AI Capabilities in B2B IT Consulting Services

LG CNS provides various IT consulting services in the key digital growth areas including cloud, artificial intelligence (AI), big data, smart factory, and smart logistics.
LG CNS’s core strength in the AI sector is to capitalize on all the major AI based technologies and providing consulting services to business customers to improve their operations.
LG Corp (003550 KS) owns 49.95% stake in LG CNS, which is expected to complete its IPO sometime in 2023/2024.

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Mar 21

Daily Brief Private Markets: Megvii: An Artificial Intelligence Powerhouse in China and more

By Smartkarma Daily Briefs | Daily Briefs, Private Markets

In today’s briefing:

Megvii: An Artificial Intelligence Powerhouse in China
Smartmore: Using AI to Implement Smart Manufacturing

Megvii: An Artificial Intelligence Powerhouse in China

Megvii is a leading artificial intelligence company in China focusing on IoT scenarios for mainly three fields including Consumer IoT, City IoT and Supply Chain IoT.
In June 2022, Megvii’s chief scientist Sun Jian passed away due to a sudden illness. His death was one of the key reasons why the company has postponed the IPO.
Major investors in Megvii include Ant Group, Alibaba Group (9988 HK), Lenovo (992 HK), and Abu Dhabi Investment Authority.

Smartmore: Using AI to Implement Smart Manufacturing

Established in 2019 and headquartered in Hong Kong, Smartmore is a technology company that focuses on the use of artificial intelligence to implement smart manufacturing and ultra-high definition videos.
The company’s intelligent manufacturing technology helps detect malfunction at manufacturing lines in numerous industries such as autos and semiconductors.
Since the inception of the company, Smartmore has raised nearly $300 million in funding. Its major investors include Hermitage Capital, IDG Capital, Sequoia Capital China, and Lenovo Capital.

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Mar 17

Daily Brief Private Markets: Fresh Safety Concerns Follow OpenAI’s GPT-4 Release and more

By Smartkarma Daily Briefs | Daily Briefs, Private Markets

In today’s briefing:

Fresh Safety Concerns Follow OpenAI’s GPT-4 Release
Battery Recycling Startup Green Li-Ion Secures US$20.5M Pre-Series B Funding
Intellect Seals Strategic Investment with IHH Healthcare
Auto Dealer Financing Startup Broom Bags US$10M to Diversify Product Offerings

Fresh Safety Concerns Follow OpenAI’s GPT-4 Release

ChatGPT-4 is here and OpenAI is betting that it’s the smartest version so far.
GPT-4 has a broader general knowledge and problem solving abilities, the company said in a research paper that was released alongside the chatbot.
The paper showed that the latest model beat 90% of bar exam takers.

Battery Recycling Startup Green Li-Ion Secures US$20.5M Pre-Series B Funding

By e27

Green Li-ion, a lithium-ion battery recycling technology company based in Singapore, has raised US$20.5 million in pre-Series B funding.
Green Li-ion has developed a novel technology that processes 100 per cent of all used lithium batteries.
It recycles and reuses all metals to directly re-manufacture battery-grade cathode material ready for reuse in new batteries.

Intellect Seals Strategic Investment with IHH Healthcare

Intellect, a mental health startup based in Singapore, has raised a strategic funding round from IHH Healthcare.
As part of this round, IHH will work with Intellect to develop digital mental health programs for the group’s patients, corporate clients, and staff.
Intellect says it has already started rolling out services to Gleneagles Hospital Singapore, which is part of IHH’s network of 82 hospitals in 10 countries.

Auto Dealer Financing Startup Broom Bags US$10M to Diversify Product Offerings

By e27

Broom, an all-in-one automotive SME solutions startup in Indonesia, has secured US$10 million in a pre-Series A funding round
Jakarta-headquartered Broom will use the money to diversify its product offerings and further accelerate dealer inventory turnover.
Established in 2021, Broom provides an end-to-end financial solution for auto dealer inventories.

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Mar 08

Daily Brief Private Markets: AISpeech: Leading Company in China for AI-Driven Speech Recognition Technology and more

By Smartkarma Daily Briefs | Daily Briefs, Private Markets

In today’s briefing:

AISpeech: Leading Company in China for AI-Driven Speech Recognition Technology

AISpeech: Leading Company in China for AI-Driven Speech Recognition Technology