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

Soul Parking secures Series A extension to redefine urban parking in Indonesia

Soul Parking, a parking technology company in Indonesia, has closed a Series A extension round co-led by AC Ventures and AppWorks, with additional support from Taiwan Mobile, Uspace, and Wavemaker Ventures. The funds will drive the company’s geographic expansion, enhance its product offerings, and boost marketing efforts to increase brand visibility and user adoption.

The company’s solutions, including its compact motorcycle storage (CMS) system and cloud-based operating system, optimize land use and provide seamless parking experiences for both property owners and drivers.

Soul Parking said it has already processed more than 20 million annual transactions across over a hundred partners and plans to cater to the growing demand for electric vehicle infrastructure.

Digital Edge raises over USD 1.6 billion to expand pan-Asia data center footprint

Digital Edge, a Singapore-based leader in hyperscale and interconnection data centers, has raised over USD 1.6 billion in equity and debt financing to fuel its expansion across Asia. Backed by alternative investment firm Stonepeak, the company has now established operations in six countries, including Japan, South Korea, India, and Indonesia, with plans to expand further.

The funding includes USD 640 million in equity, which was oversubscribed and attracted sovereign wealth funds and institutional investors, and USD 1 billion in debt financing to support strategic campus expansions. Digital Edge’s current projects include a 300-megawatt campus in Navi Mumbai, India, and the ninth facility in Japan, a hyperscale edge center in downtown Tokyo.

Z Venture Capital launches JPY 30 billion fund

Z Venture Capital (ZVC), a subsidiary of LY Corporation based in Tokyo, has established a new fund, ZVC Fund II, with a total size of JPY 30 billion (USD 190.2 million). Officially launched on January 1, this initiative marks an expansion of ZVC’s investment activities, building on the foundations of its preceding fund.

Positioning itself as a pivotal player in corporate venture capital, ZVC aligns its investments with LY Corporation’s strategic pillars: media, commerce, fintech, and artificial intelligence. The new fund, however, ventures into uncharted territories by eyeing opportunities in emerging sectors like space technology, robotics, and other deep tech areas.

The fund will support startups at various stages, from seed to late growth, with an emphasis on early-stage investments. It aims to strengthen its global reach, with targeted efforts in markets like Japan, South Korea, and the US.

ZKcandy bags USD 4 million to advance Web3 gaming ecosystem

ZKcandy, a gaming-focused Layer 2 blockchain powered by ZKsync, has closed a USD 4 million private funding round with support from Wemix, Animoca Ventures, Spartan Group, Perlone Capital, and other investors. Angel investors and early contributors from various gaming and blockchain firms also participated.

The funding will be used to accelerate ZKcandy’s roadmap, including the development of the first Telegram-based Ethereum Virtual Machine (EVM) gaming ecosystem, AI gaming agents, and the upcoming mainnet launch in 2025.

Recent deals completed in China:

• Lizheng Technology, a company specializing in low-altitude drone detection and countermeasure systems, has raised a Series C funding round worth several hundred million RMB. Vision Plus Capital led the round, with existing investors GF Xinde Investment and a fund under the Henan Agricultural Investment Group increasing their stakes. The company, established six years ago, has emerged as a significant player in the low-altitude security industry. The funds will be used to enhance its offerings and reinforce its role in the low-altitude economy value chain.
• Damoda, a Shenzhen-based drone cluster control company, has completed its Series A funding round, securing a nine-figure RMB sum. The round was led by Cowin Capital, with participation from CMB International, China Merchants Venture, Shenzhen HTI Group, and Caixin Group. Glacier Capital China served as the exclusive strategic financial advisor. The funds will support the development of Damoda’s AI-powered product line and its expansion into international markets.

Flint, Pimax, and more made recent headlines:

• Flint, a deep tech company specializing in sustainable energy storage, landed USD 2 million in a seed funding round led by a consortium of angel investors across nine countries and venture capital firm Hatcher+.
• Pimax Technology, a developer of high-end virtual reality (VR) headsets, raised over RMB 100 million (USD 14 million) in a Series C1+ funding round. The round was led by Zhuji Jingkai Chuangrong Investment, with participation from Ivy Capital.

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