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

Bolttech raises over USD 100 million in Series C funding

Bolttech, a Singapore-headquartered insurtech firm, has raised over USD 100 million in a Series C funding round led by Dragon Fund (a partnership between Liquidity and MUFG), with additional backing from Baillie Gifford and Generali.

The funding places Bolttech’s valuation at USD 2.1 billion, supporting the company’s plans for global expansion and platform innovation. Bolttech aims to bolster its embedded insurance ecosystem, focusing on seamlessly integrating insurance into customer journeys.

Catcha Digital to acquire majority stakes in Tastefully and Drive 2 Digital

Catcha Digital, an internet and digital media investment company, has agreed to acquire a 70% stake in Tastefully, a leading food expo organizer in Malaysia, for MYR 7.6 million (USD 1.7 million). The payment will be made in four tranches over 36 months, contingent on achieving profit after tax targets.

The acquisition strengthens Catcha’s omnichannel advertising capabilities by merging Tastefully’s physical expo reach with its digital media expertise, creating cross-selling opportunities for clients in the food and beverage sector. The move also aligns with Catcha’s broader strategy to expand its footprint in the ASEAN digital economy.

Catcha is also aiming to acquire a 60% stake in Drive 2 Digital (D2D) for MYR 16.2 million (USD 3.6 million), as reported by The Edge. This deal is tied to profit targets of MYR 3.5 million (USD 779,510) and MYR 4.2 million (USD 935,412) over the next two years. D2D manages automotive media brands such as Automachi and Careta.

The D2D acquisition is expected to deepen Catcha’s connections with major automotive brands, leveraging D2D’s media channels to enhance consumer engagement.

VentureTech partners with MTC Orec for biomethane plant expansion

VentureTech, a Malaysian state-backed investment firm, has partnered with MTC Orec to support the development of biomethane plants in Malaysia’s northern and eastern coastal regions. The investment amount has not been disclosed.

The collaboration includes a project with a leading oil and gas player, slated to commence in 2025, aiming to advance sustainable energy solutions in the region.

Toyoda Gosei takes stake in EV Motors Japan

Toyoda Gosei has acquired a stake in EV Motors Japan (EVM-J), a startup focused on commercial electric vehicles. EVM-J’s proprietary motor control systems are designed to enhance EV efficiency, improving range and battery life.

The company is establishing Japan’s first mass production EV plant in Kitakyushu, marking a significant milestone in the domestic EV market. Toyoda Gosei’s investment supports its strategy to explore new mobility solutions, enhancing expertise in EV development through collaboration with EVM-J.

Recent deals completed in China:

• PixelBloom, an artificial intelligence-generated content (AIGC) company, has secured an undisclosed amount of funding in its Series B2 round. The round was led by the Beijing Artificial Intelligence Industry Investment Fund, jointly managed by Shunxi Fund and Qiming Venture Partners, with participation from several high-profile investors and industry entrepreneurs. The funds will be used for product development, AI capability enhancements, and market expansion. This marks the fifth funding round for PixelBloom in four years.
• Hyperion Robotics, an embodied intelligence software systems developer, has raised an eight-figure RMB sum in a Series A funding round. The round was led by Qianrong Investment Holding Group, with participation from Detong Capital, Luojia Capital, and existing investor Junding Capital. The proceeds will be allocated toward software product development and market expansion.
• Stepfun, one of China’s AI unicorns, has completed a Series B funding round, securing a nine-figure RMB sum. Participants include Shanghai State-owned Capital Investment Company (and subsidiary funds), Tencent Investment, 5Y Capital, and Qiming Venture Partners. The funds will go toward R&D, focused on enhancing multimodal and complex reasoning capabilities, and the expansion of consumer-facing applications to enrich user experiences.
• PGVerse, a spatial computing company, has raised an eight-figure RMB sum in its latest funding round. PDVC participated in the round through its angel mother fund. The investment will accelerate PGVerse’s product development and the construction of its spatial computing platform and spatiotemporal AI models.

Swipey, Funding Societies, CATL, and more made recent headlines:

• Swipey, a Malaysia-based fintech platform, secured an undisclosed investment from 1337 Ventures.
• Funding Societies, a digital finance platform serving SMEs in Southeast Asia, raised USD 25 million from the Cool Japan Fund (CJF), marking CJF’s first foray into the region’s fintech landscape.
• Contemporary Amperex Technology Company (CATL), the world’s leading electric vehicle battery manufacturer, is reportedly considering a secondary listing in Hong Kong, targeting at least USD 5 billion.

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