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

Fleet Space raises AUD 150 million to expand ExoSphere’s reach

Fleet Space Technologies, an Adelaide-based space exploration company, has raised AUD 150 million (USD 96.2 million) in a Series D funding round led by Teachers’ Venture Growth (TVG). The round included returning investors such as Blackbird Ventures, Hostplus, Horizons Ventures, Artesian Venture Partners, and Alumni Ventures.

This fresh capital is targeted at supercharging ExoSphere, Fleet Space’s signature platform combining satellites, artificial intelligence, and seismic sensors. The system aims to redefine mineral exploration by delivering high-resolution 3D imaging that could cut environmental costs and speed up discovery processes. With global demand for minerals tied to clean energy surging, the platform’s development comes at a critical juncture.

Citigroup extends USD 500 million in financing to UAE fintech Astra Tech

Astra Tech, a UAE-based fintech firm, has banked USD 500 million in asset-backed financing from Citigroup, according to Bloomberg. This marks a significant boost for its subsidiary, Quantix Technology Projects, which operates CashNow, a platform offering lending services.

The financing will also support Astra Tech’s broader ambition to create a superapp blending payments, messaging, and lending.

Astra Tech, which recently acquired Botim, the region’s leading voicecalling app, has also achieved a regulatory milestone: it is the first firm since 2008 to secure a finance company license from the UAE Central Bank.

Pixxel extends Series B round to USD 60 million

Pixxel, a hyperspectral imaging startup based in the US and India, has raised USD 24 million in a Series B extension, pushing the round’s total to USD 60 million. M&G Catalyst and Glade Brook Capital Partners joined existing backers like Google and Lightspeed in the latest tranche.

Pixxel’s constellation of hyperspectral satellites, designed to capture data across more than 250 spectral bands with a resolution of five meters, is expected to support developments in fields such as agriculture and resource management.

Founder Awais Ahmed emphasized the funding as a step toward scaling satellite production, with Pixxel planning to launch its “Fireflies” constellation by 2025 to address pressing environmental and resource challenges.

Rebel Foods snags USD 210 million, eyes international growth

Rebel Foods, a leader in India’s cloud kitchen space, has received USD 210 million in its Series G funding round, led by Temasek Holdings with support from existing investor Evolvence, according to Bloomberg. The funding values the company at USD 1.4 billion and includes secondary share sales, offering liquidity to early investors.

Rebel operates hundreds of kitchens across 75 cities and has ambitious plans to expand to 800 kitchens in 200 cities by 2029. The company is also investing in AI-driven demand forecasting to optimize operations and exploring international markets to broaden its footprint.

Vircle backs financial literacy for kids with funding from 1337 Ventures

Vircle, a neobank based in Malaysia, has secured an undisclosed amount of funding from 1337 Ventures’ Accelerator Fund I.

This investment will help the company expand partnerships with schools and pilot cashless payment programs, such as an initiative with U Mobile in Malaysian schools.

Vircle’s tools focus on financial literacy for children, including prepaid Visa cards with parental controls to instill budgeting skills early on.

Kast secures USD 10 million to scale operations

Kast, a fintech startup leveraging stablecoins for financial services, has secured USD 10 million in seed funding. The round was co-led by HongShan Capital Group and Peak XV Partners, with DST Global’s partners and Goodwater Capital also participating.

The funding will drive Kast’s product development, licensing, and international expansion.

The company offers USD-denominated accounts and payment cards across 150 countries, aiming to simplify cross-border transactions in the digital age.

Latest deals completed in China:

• Hohem, a developer of camera gimbals and stabilizers, has raised over RMB 100 million (USD 14 million) in a Series B funding round. The investment was jointly led by Shunwei Capital and Legend Capital, with participation from Xiaomi, Yunqi Partners, Cowin Capital, and Yunmu Capital. Glacier Capital China acted as the exclusive financial advisor for the round. The proceeds will be used for product development, market promotion, and distribution channel expansion.
• Zhongzhiwei Technology, a provider of urban data and digital security solutions, has completed a Series B1 funding round worth tens of millions of RMB. The round was co-led by Baiyun Financial Holding Group and Hope Funds.
• Xinglian Future, a startup focused on smart wearable technologies for pets, has closed a seed funding round, securing an eight-figure RMB sum. The round was led by Light Cone’s frontier technology fund and Lingyi Capital, with additional investment from Kylinhall Partners. The proceeds will be used to fund R&D, team expansion, and market outreach.
• SAIC Anji Logistics, the automotive logistics arm of SAIC Motor, has secured RMB 2 billion (USD 280 million) from state-affiliated investors Shanghai International Port (Group) and COSCO Shipping Holdings. Each investor acquired a 10% stake, while SAIC Motor retained 80% ownership.
• GCL Perovskite, a producer of perovskite solar cells, has raised RMB 500 million (USD 70 million) in a Series C1 round of financing led by Goldstone Investment and joined by Kunshan Hi-tech Group, HongShan, and Hanyang Capital. The investment will facilitate the establishment of a gigawatt-class solar cell factory and develop tandem perovskite solar modules. 

Carro, CarDekho, Longbridge, and more made recent headlines:

• Carro, Asia Pacific’s largest online used car marketplace, secured an investment from Woori Venture Partners, the venture capital arm of Woori Financial Holdings. The exact amount remains undisclosed.
• CarDekho SEA, the Southeast Asia arm of India’s CarDekho Group, raised USD 60 million in its first external funding round. The round, co-led by Navis Capital Partners and Dragon Fund, has brought CarDekho SEA’s total funding to over USD 100 million.
• Longbridge Group, a fintech and securities firm based in Singapore, raised over USD 100 million to fuel its international expansion.

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