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

Flint lands USD 2 million seed funding for proprietary paper battery technology

Flint, a deep tech company specializing in sustainable energy storage, has landed USD 2 million in a seed funding round led by a consortium of angel investors across nine countries and venture capital firm Hatcher+. The funds will support Flint’s pilot production, IP development, and market expansion, positioning Flint as a challenger to legacy battery technologies.

Flint’s paper battery technology utilizes natural, non-toxic materials such as cellulose paper, zinc, and manganese, offering a sustainable, safe, and flexible alternative to traditional batteries. The technology is said to eliminate fire risks, reduce electronic waste, and minimize environmental impact, while maintaining cost efficiency through low-cost materials and scalable production processes.

The company has also secured its first paid pilot project with an international enterprise, marking a significant step toward commercialization.

“This funding milestone represents years of technical breakthroughs,” said Carlo Charles, founder and CEO of Flint. “Our batteries are engineered to excel where traditional technologies fall short, and we believe they will transform industries that demand superior safety, sustainability, and flexibility.”

Pimax raises over RMB 100 million in Series C1+ round

Pimax Technology, a developer of high-end virtual reality (VR) headsets, has raised over RMB 100 million (USD 14 million) in a Series C1+ funding round, according to 36Kr. The round was led by Zhuji Jingkai Chuangrong Investment, with participation from Ivy Capital, marking one of the largest financings in China’s VR industry since 2024.

Founded in 2015, Pimax is recognized for pioneering 4K, 8K, and retina-grade VR headsets, catering to applications in gaming, cultural tourism, education, and professional design. The company plans to utilize the funds to enhance R&D capabilities in the US and Europe, expand its global market presence, and introduce advanced VR technologies tailored for diverse industries.

Pimax’s latest products, including the lightweight Crystal Light and the high-performance Dream Air, are said to emphasize user comfort and accessibility while delivering immersive VR experiences. With international markets contributing 80% of its user base, the company is poised for further growth in the VR industry.

Other deals completed in China:

• RWKV, an AI startup specializing in large language model architecture, has raised an eight-figure RMB sum in an angel funding round led by FutureX Capital. Following this round, the company’s valuation has doubled compared to its seed stage. The funds will be allocated to team expansion, iterative development of new architectures, and commercialization efforts.
• Inflync, an electric vertical takeoff and landing (eVTOL) aircraft company, has completed two funding rounds, raising an eight-figure RMB sum from Lightsilver Capital and Boyan Venture Capital, with additional investment from Shanghai Angel Group. The funding will support the testing and launch of its full-scale tiltrotor ducted-wing eVTOL prototype. The company has appointed InvesTarget as its exclusive financial advisor for its upcoming pre-Series A round, scheduled to begin this month.
• AICC, an intelligent connected vehicle (ICV) platform company, has raised a nine-figure RMB sum in a Series A+ funding round. The capital will be used to enhance its R&D capabilities and accelerate product delivery. Established in 2020 by the National Innovation Center of Intelligent and Connected Vehicles (CICV), AICC focuses on developing intelligent automotive computing platforms. Its flagship product, the CBDES, is a third-generation automotive electronic control system designed to support automakers’ smart driving developments.

Grab, Alibaba, Malaysia’s Khazanah, and more made recent headlines:

• Southeast Asian superapp operator Grab acquired the operations of Nham24, a leading food delivery platform in Cambodia, following regulatory approval.
• Chinese internet giant Alibaba Group announced the sale of its 78.7% stake in Sun Art Retail Group, the operator of RT-Mart hypermarkets, to private equity firm DCP Capital for HKD 12.298 billion (USD 1.6 billion).
• Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund, made strategic investments in the Cambrian Fund and California-based AI company Syntiant under its Dana Impak initiative.

#FlintBattery #PimaxVR #FundingNews #TechInvestments #InnovationAsia