In today’s briefing:
- Japanese Startup Flux Bags $32m for No-Code AI Platform
- Indonesian Fleet-Tracking Startup TransTRACK Bags US$2.1M Funding
- Cocoon Capital invests in AI-powered construction planning simulation platform Frontline
- Finfra Tops up with $1m to Enable Embedded Lending for Indonesian Firms
- Kazakh Proptech Startup ApartX Raises Seed Funding for SEA Expansion
Japanese Startup Flux Bags $32m for No-Code AI Platform
- Businesses across the world are rushing to adopt AI. Japan-based startup Flux is targeting companies in the country who want to do so at lower cost and higher efficiency.
- The firm developed a no-code AI platform called Flux AI. According to Flux, the platform enables businesses to leverage AI technologies such as predictive analytics, natural language processing, and large language models without needing prior coding skills or knowledge.
- The startup has just raised US$32 million in a series B round led by DNX Ventures.
Indonesian Fleet-Tracking Startup TransTRACK Bags US$2.1M Funding
- Indonesia-based fleet-tracking startup TransTRACK has secured US$2.1 million in a pre-Series A funding round.
- Ortus Star, Cocoon Capital, and YCAB Ventures led the funding round. Goldbell Investment, NP Consulting, Damson Capital, and unnamed angel investors participated.
- TransTRACK plans to use the fresh funds to expand operations to 100 cities in Indonesia and other Southeast Asian countries, including Malaysia, Singapore, Thailand, Cambodia, and Vietnam, providing an end-to-end supply chain solution for the business players in the region.
Cocoon Capital invests in AI-powered construction planning simulation platform Frontline
- Singapore-based construction planning simulation and optimisation startup Frontline Industrial Software has raised US$700,000 in a seed funding round led by Cocoon Capital.
- Frontline, founded by Luis Martinez and Ruiqi Ding, enables construction companies, operators and contractors to quickly identify best-in-class construction plans with optimal activity sequencing and resource allocation.
- The software uses Artificial Intelligence to identify the most efficient and cost-effective construction plans for complex infrastructure, civil, energy, industrial and residential projects.
Finfra Tops up with $1m to Enable Embedded Lending for Indonesian Firms
- Since 2015, Indonesia’s digital economy has grown 10x, reaching US$77 billion in gross merchandise value. However, credit penetration remains low for individuals and businesses alike, with only 3% of Indonesians having a credit card.
- Access to credit would allow businesses to boost customer adoption, among other things, and Indonesia-based fintech firm Finfra is looking to fill this niche.
- The startup has raised US$1 million to help make this happen.
Kazakh Proptech Startup ApartX Raises Seed Funding for SEA Expansion
- ApartX, a startup focused on rental property management in Kazakhstan, has secured US$250,000 in a seed funding round from local VC firm Big Sky Capital and Activat VC.
- The funds will be used for talent acquisition, improving the platform functionality, and expanding into new regions, such as Southeast Asia. It will also bolster its R&D efforts.
- The company aims to broaden its market presence, forge strategic partnerships, and solidify its position in the industry.
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