Investments Highlighted: Tencent supports 13 ventures from the climate tech program, XSquare and Shomvob acquire funding, Mighty Jaxx expands Series A+ financing, and further developments
Tech Funding Round-up: A Look at Recent Investments
In the ever-evolving world of technology, funding rounds are a common occurrence as companies seek to fuel their growth and innovation. Here's a round-up of some recent investments that have caught our eye.
Yunchu New Energy Technology (iBatteryCloud) Secures Series A Funding
Yunchu New Energy Technology, also known as iBatteryCloud, has secured an eight-figure RMB sum in a Series A funding round. The investment will likely support the company's research and development efforts in the realm of large cylindrical batteries.
Mighty Jaxx Raises Additional Funding for Pop Culture Collectibles
Mighty Jaxx, a platform for limited edition, pop culture-inspired collectibles, has secured an additional USD 11 million in an extension to its Series A+ funding round. The funds will undoubtedly contribute to the expansion and enhancement of Mighty Jaxx's offerings.
Shomvob's Pre-Seed Funding for HRIS Development
Shomvob, a Dhaka-based jobs and networking platform, has raised USD 1 million in a pre-seed funding round led by Singapore-based early-stage venture capital firm Cocoon Capital. The funds will be used to develop a comprehensive human resources information system (HRIS) for recruitment to payroll management.
DeepL Secures USD 300 Million for Language AI Advancements
DeepL, a language AI company, has received USD 300 million in a funding round. The investment will accelerate DeepL's efforts to break down cross-border communication barriers faced by global businesses.
Tencent's CarbonX Program Advances Low-Carbon Technologies
Chinese tech giant Tencent has launched the CarbonX program, aimed at advancing low-carbon technologies with a focus on carbon capture, utilization, and storage (CCUS), and technology-based carbon removal. The first phase of CarbonX focused on solutions that curb emissions from hard-to-abate industries such as steel and cement, mitigate reliance on fossil fuels, and reduce legacy emissions from decades of industrialization.
Other Notable Investments
- Luojia Yiyun Optoelectronic Technology, a Wuhan-based light detection and ranging (LiDAR) technology company, has raised an eight-figure RMB sum in an angel funding round.
- Xisoft, an information and big data services provider focused on the healthcare sector, has raised an undisclosed amount in a Series C funding round. The round was led by Shunwei Capital and saw participation from Saif Partners.
- Seek Wave, a Chongqing-registered semiconductor solutions provider, has raised close to RMB 100 million in a Series A2 round of financing.
- XSquare Technologies, a Singapore-based warehousing automation company, has raised SGD 10.5 million (USD 7.7 million) in a Series A funding round led by Wavemaker Partners.
Tencent Supports CarbonX Winners
Tencent has committed RMB 100 million (USD 14 million) to support the 13 winners of its CarbonX program. The winners, selected from 30 finalists and over 300 applications, have not been publicly disclosed in detail as of now.
These investments underscore the continued interest in technology innovation and the ongoing efforts to address various challenges in sectors ranging from renewable energy to healthcare and beyond. As these companies grow and develop, we can expect to see exciting advancements in the tech landscape.
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