In a series of financial developments: Accacia receives funding; Swat Mobility, Seedflex also secure funds; ComfortDelGro bags SGD 100 million; Alibaba considering investment in fashion platform Ably; and more news on investments.
In the world of technology and biopharma, the past month has seen a flurry of investments that are set to shape the future of these industries. Here's a rundown of some of the most notable developments.
Accacia Secures Funding for Carbon Accounting in Real Estate
Accacia, a Singapore-based startup providing an AI-powered software-as-a-service platform for carbon emissions monitoring in the real estate sector, has completed a USD 6.5 million pre-Series A funding round. The funding round was led by Shunxi Fund, with Cnfuel Capital, Vinner Therapeutics, Qiming Venture Partners, and BioTrack Capital as participants. Annu Talreja, founder and CEO of Accacia, highlighted the global push for stronger accountability over carbon emissions as a key factor driving the significance of carbon accounting.
Swat Mobility Raises Additional Funding for AI-Powered Route Optimization
Swat Mobility, a Singapore-headquartered provider of smart mobility and transportation solutions, has raised an additional USD 3.8 million of funding. The company specializes in AI-powered route optimization solutions and primarily serves clients in the mobility sector, including transport operators and government agencies.
Brise Pharmaceuticals Secures Funding for Innovative Pain Treatments
Brise Pharmaceuticals, a biopharma company specializing in innovative treatments for acute and chronic pain, has raised close to USD 20 million in pre-Series A and pre-Series A+ financing. The search results do not provide information about who led the venture capital firm that invested approximately 100 million Singapore dollars in the company.
Alibaba Group in Talks to Invest in Ably Corporation
Ably Corporation, the operator of the South Korean female apparel shopping app Ably, is currently valued at around KRW 2 trillion (USD 1.45 billion) and is planning to secure an additional KRW 100 billion from global investors, including Alibaba Group, which is in talks to invest KRW 100 billion (USD 72.5 million) for approximately a 5% stake. Ably's female monthly active users surpassed 7 million in March, more than doubling the figures of its crosstown rivals Musinsa and Zigzag.
Investments in Australian Startups Veyor and Bygen
Investible, an early-stage venture capital firm, has announced its investment in Australian startups Veyor and Bygen, but no further details about the investments were provided.
Seedflex Launches "Pay-as-you-sell" Service in Southeast Asia
Seedflex, a fintech company based in Singapore and Malaysia, has raised an undisclosed sum of seed funding from 500 Global to launch a "pay-as-you-sell" service in Southeast Asia.
Amplifier Mentorship Program Supports Five Startups
The Centre for Impact Investing and Practices (CIIP) and Philanthropy Asia Alliance (PAA), ecosystem entities of Temasek Trust, have announced the first cohort of five startups participating in the Amplifier mentorship program. Each startup will receive up to SGD 250,000 (USD 183,600) of catalytic funding.
ComfortDelGro Secures Funding for Decarbonizing UK Bus Fleet
ComfortDelGro, a Singapore-based land transportation company, has secured SGD 100 million (USD 73.4 million) from financial institution DBS to decarbonize its UK bus fleet.
Sherpa Healthcare Partners Invest in Ably Corporation
Sherpa Healthcare Partners was the exclusive investor for the pre-Series A+ round in Ably Corporation, which operates the South Korean female apparel shopping app Ably. The company plans to use the proceeds to advance its product pipeline across the preclinical and clinical stages, as well as validate and enhance its drug development platforms.
Notable Regulations Drive Investments in Carbon Accounting
Notably, Talreja highlighted new regulations implemented by the Securities & Exchange Commission (SEC) and the Singapore Exchange (SGX) concerning carbon emission reporting as compelling examples driving investments in carbon accounting platforms like Accacia. These regulations underscore the growing importance of accountability and transparency in carbon emissions, a trend that is likely to continue in the coming years.
