Bringing you the latest updates on funding deals and activities in the Asia Pacific.

SmartBank brings in JPY 4.08 billion for first Series B close

To expand its foothold in personal finance, Tokyo-based SmartBank, the firm behind the expense management app B/43, has raised JPY 2.93 billion (USD 18.7 million) in its Series B funding round’s initial close.

The round was led by SMBC-GB Growth No. 1 Fund, drawing in participation from Seven Bank, Japan Post’s Spiral Regional Innovation Fund, and prominent players like DBJ Capital and the All Star SaaS Fund.

Debt financing from various Japanese banks added another JPY 1.15 billion (USD 7.4 million), raising the total for the first close to JPY 4.08 billion (USD 26.1 million).

SmartBank has earmarked the fresh capital for organizational growth, talent acquisition, and broadening its reach through marketing initiatives. The company’s next chapter is geared toward enhancing personal finance tools that empower users to navigate rising living costs by offering insights into spending patterns, building financial stability, and cultivating transparency.

Malaysia’s DF Automation and Robotics raises USD 1.85 million

Malaysia-based DF Automation and Robotics (DF Auto), which focuses on autonomous mobile robots, has announced a USD 1.85 million raise in a funding round led by Vynn Capital, according to TechNode Global. The round saw participation from the Malaysian Technology Development Corporation (MTDC), Japan’s Leave a Nest Capital, and equity crowdfunding investors.

DF Auto, founded in 2012, intends to use this capital to scale its reach in Southeast Asia, where it serves clients across Malaysia, Singapore, Thailand, and the Philippines, with a client base expanding into Europe and India. Positioned to address labor demands in the manufacturing industry, DF Auto has clients in sectors ranging from semiconductors and automotive to electronics, food and beverage, and healthcare.

Turing Space locks in over USD 3 million for digital identity expansion

In its pursuit to solidify digital identity infrastructure, Turing Space, a firm dedicated to trust tech, closed a funding round of more than USD 3 million led by ProFederal, as reported by e27.

This capital boost is set to fuel its R&D on cross-border verification solutions and drive the company’s expansion. Alongside product development, Turing Space plans to channel funds into talent acquisition, enhancing user experience as it scales.

Recent deals completed in China:

• Matwings Technology, a Shanghai-based artificial intelligence company, has raised over RMB 100 million (USD 14 million) in a Series A funding round. The round was led by Qiming Venture Partners, with participation from Yonghua Capital, Jingtao Venture Capital, and 3E Bioventures. The funds will support the development of in-house projects and upgrades to its AI-powered protein design technology, originally developed by a Shanghai Jiao Tong University team. 
• Caizhi Technology, an AI company focused on explainable and traceable AGI applications, has raised tens of millions of RMB in an angel round led by Z Fund (Zhipu Ecosystem Fund), with Peakview Capital participating. Established in 2021, Caizhi Technology is a key participant in China’s national AI initiatives and plans to leverage the funds to accelerate its research on large model applications.
• Proshare, a developer of advanced nanocomposite membranes, has secured tens of millions of RMB in a Series A funding round led by Wisemen Capital, with Suzhou Sci-tech Innovation Fund also participating. The proceeds will be used to build a new production facility and an automated casting line for high-performance nanofiltration membranes.

Dossier, Collektr, Noneaway, and more made recent headlines:

• Dossier, a regtech startup headquartered in Singapore, clinched an undisclosed amount in pre-seed funding from nVentures.
• Collektr, a live stream platform dedicated to authenticated collectible sales, raised USD 1.3 million in a pre-Series A funding round led by AC Ventures Malaysia. The round saw support from The Hive Southeast Asia, Creador Foundation, and several angel investors.
• Noneaway, a proptech venture from the Philippines, secured over USD 1 million in pre-seed funding from investors including Forge Ventures, Wavemaker Partners, Kaya Founders, and Vulpes.

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