UnoAsia banks USD 32.1 million in pre-Series B round

UnoAsia, the parent company of Uno Digital Bank in the Philippines, has raised USD 32.1 million in a pre-Series B round, according to Tech in Asia. The round saw participation from Gateway Partners, Creador Private Equity, and Nextinfinity Management.

With a mix of debt and equity funding, the completion of this round brings UnoAsia’s total funding to approximately USD 75 million.

Launched around 15 months ago, Uno Digital Bank is shifting its focus to profitability in 2024, aiming to scale up its existing products and introduce new offerings to the market. Its priority is to target the bankable population in the Philippines, with the aim of doubling its user base by the end of this year. Plans include the introduction of consumer durable loans in the near future, alongside the expansion of its insurance offerings.

Franklin Templeton backs Transparently.AI

Transparently.AI, a Singapore-based startup developing artificial intelligence-based software for accounting fraud detection, has secured an undisclosed amount of investment from Franklin Templeton as part of its admission to the asset manager’s fintech incubator program. Franklin Templeton’s investment is part of a USD 3 million pre-Series A funding round that valued the startup at USD 20 million.

“Through our collaboration with a brand like Franklin Templeton, which has a strong presence and history in the US, we hope to significantly accelerate our go-to-market strategy, particularly in North America,” said Hamish Macalister, co-founder and CEO of Transparently.AI.

“The changing face of fraud risk in an evolving digital landscape means that businesses have to be more vigilant now than ever. With advancements in AI, regtech solutions have the potential to address gaps in financial crime risk management, and we look forward to seeing Transparently.AI bring advanced technologies to the market meaningfully,” said Margaret King, vice president of fintech partnership and corporate strategic investments at Franklin Templeton.

Recent deals completed in China:

• Gripp Intelligent Technology, a Shanghai-headquartered technology company specializing in self-piercing riveting (SPR) solutions, has secured over RMB 100 million (USD 13.9 million) in a Series A funding round. The round was led by Xiaomi Ventures, with participation from Inovance and a subsidiary fund of CICC Capital. The company will utilize the funds for product development, building a product R&D and application platform. —36Kr
• Daisch, a Shanghai-registered supplier of high-accuracy inertial navigation systems, has completed a Series B+ funding round, raising an eight-figure RMB sum. The round was led by Guochen Venture Capital Management, with participation from Fortune Capital. Cygnus Equity served as the exclusive financial advisor for this round. The funds will be allocated toward R&D, market expansion, and mass production operations. —36Kr
• Eureka Biotechnology, a Shenzhen-registered biotechnology company focused on developing cell and gene therapies (CGTs), has completed a Series B+ round of financing, bagging over RMB 300 million (USD 41.7 million). The round was led by Yuexiu Fund, with participation from Fortune Capital, Technology Financial Group, Tasly Capital, ABC Capital, and the second phase of Clearwater Bay Capital’s venture fund. Existing shareholders Eight Roads and an unnamed industrial group continued their investment, with WinX Capital serving as the exclusive financial advisor for this round. The capital will be used to advance the development and commercial application of large-scale production technology for lentiviral vectors (LVVs), adenoviral vectors (AAVs), and to optimize its solutions for automated production of cell therapy drugs. Additionally, Eureka will use the funds to expand internationally. —36Kr
• Greenore Cleantech, a Shanghai-based carbon capture, usage, and sequestration (CCUS) company, has closed its latest Series A funding round, led exclusively by Amperex Technology Limited (ATL). Shanghai Yuanhan Energy & Chemical Technology also continued its investment, while PhoenixTree Capital acted as the financial advisor. The funds will primarily be allocated toward product development and market promotions. —36Kr
• Chengdu Micro-Technology, a developer of TGV and integrated passive device (IPD) technology, has announced the completion of a pre-Series A+ funding round, securing an eight-figure RMB sum from Addor Capital. —36Kr
• Corui Technology, a Chengdu-based liquid chromatography company focused on producing instruments for chromatography analysis, has completed its Series A2 funding round, banking an eight-figure RMB sum from Insight Capital. The company will utilize the capital primarily for R&D. —36Kr

Latest deals in India:

• Walko Food, the operator of ice cream brand NIC, has received USD 20 million in an investment round led by Jungle Ventures, with participation from undisclosed investors. The company will utilize the capital to expand its product portfolio and customer base along with its presence across India.
• Vidyut, an electric vehicle financing and lifecycle management platform, has raised USD 10 million in a Series A funding round led by 3one4 Capital. The round also saw participation from new and existing investors including Saison Capital, Zephyr Peacock, Force Ventures, Alteria Capital, and Sujeet Kumar (Udaan). The round comprised a mix of equity and debt funding. Vidyut will use the funds to expand its presence in India and grow its team as it prepares to build a full-stack EV ecosystem.
• AutoVRse, an augmented and virtual reality technology startup, has secured USD 2 million in a seed funding round led by Lumikai. The round also saw participation from Rajat Monga (Tensorflow) as well as Yash Kotak (Jumper.ai).

PriyoShop, Xalts, Mask Network, and more led yesterday’s headlines:

• PriyoShop, a B2B retail marketplace for micro, small, and medium enterprises (MSMEs) in Bangladesh, completed its pre-Series A funding round, raising USD 5 million. The round was led by Century Oak Ventures, with participation from Evolution Ventures, Iterative, SOSV (Orbit Startups), GFR Fund, BonBillo, Accelerating Asia, South Asia Tech Partners, and Voltity.
• Xalts, a financial infrastructure platform, acquired Contour Network from a consortium of global banks to expedite its digitization in trade and supply chain finance.
• Mask Network, a decentralized social network protocol, secured USD 100 million in commitments for its Bonfire Union venture arm, culminating in the launch of a second fund.

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