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

Pi-xcels raises USD 2.7 million to expand NFC e-receipt technology

Pi-xcels, a Singapore-based retail tech startup, has raised USD 2.7 million in its second funding round, led by venture capital firm Headline.

Other participants include Wavemaker Partners, Hustle Fund, Shizen Capital, and Seedstars International Ventures. This latest funding brings Pi-xcels’ total capital raised to USD 4.4 million.

The company plans to use the funds to accelerate its global expansion, focusing on Europe, Japan, Southeast Asia, and the US.

Vynn Capital leads seed investment in MediSun Energy

MediSun Energy, a pioneer in osmotic energy technology, has raised USD 8.75 million in its seed funding round, which includes USD 5 million in venture debt and USD 3.75 million in equity financing. The round was led by Vynn Capital, valuing MediSun at USD 44 million.

Key investors include MOAJ Holding, Frank Phuan, TNB Aura’s Scout Initiative, and Ciri Ventures. In addition, MOAJ Holding has committed USD 30 million to support MediSun’s Saudi Arabian operations.

The funding will be used to expand MediSun’s presence in the MENA region and enhance its R&D by establishing membrane and stack production facilities.

Toku raises USD 5 million in Series A extension

Toku, a Singapore-based enterprise cloud communications provider, has raised USD 5 million in a Series A extension led by Betatron Venture Group, bringing its total funding to USD 18 million. Participants include the Hong Kong Innovation and Technology Venture Fund (ITVF) and other investors.

The funds will support Toku’s international expansion, targeting markets in South America and Europe, while also advancing its AI-powered chat and voice agent solutions. Additionally, Toku has established an advisory board, appointing former Singapore minister Lim Hwee Hua as chair.

Gobi Partners and Cross Capital join forces to bridge Japanese investments into Southeast Asia

Venture capital firm Gobi Partners has partnered with Japan-based Cross Capital to foster cross-border innovation. Cross Capital, renowned for its flagship fund of funds connecting Japanese corporations with startups, will leverage Gobi’s regional expertise to drive collaborations between Northeast Asia and ASEAN.

This partnership aims to empower entrepreneurs and investors by supporting startup localization, market entry, and scaling efforts.

All Things Baby raises INR 300 million in Series A round

All Things Baby (ATB), an Indian platform that curates mother and baby products, has secured INR 300 million (USD 3.6 million) in its Series A funding round. The funding was co-led by Richa Choksi and Inoventures, the family office of Manish Choksi.

The funds will be used to expand ATB’s product offerings, enhance its distribution network, and launch experiential retail stores in India’s metro cities.

17Live acquires Mikai to strengthen virtual IP business

17Live Group, a live streaming platform listed on the Singapore Exchange (SGX), has acquired Mikai, a leading Japanese “vtuber” agency, to bolster its virtual IP portfolio.

Podium, Gyges Labs, xAI, and more made recent headlines:

• Podium, a Singapore-based platform for industrialized construction, netted SGD 20.4 million (USD 15.1 million) in a Series A1 funding round led by Autodesk, with contributions from Schindler and Lendlease.
• Gyges Labs, a wearable technology startup, completed a pre-Series A funding round led by GSR Ventures, netting an eight-figure RMB sum. The round also included participation from Hao Chen, founder of Shokz, and NYX Ventures.
• Elon Musk’s xAI reportedly raised USD 5 billion in a funding round, The round, valuing xAI at USD 50 billion, attracted investments from the Qatar Investment Authority, Valor Equity Partners, Sequoia Capital, and Andreessen Horowitz.

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