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
- 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
- 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
- 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.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
