In brief: New deeptech venture builder programme launched in S’pore; India’s Meesho is now a unicorn

Singapore Deep Tech Alliance launches new venture builder programme

The story: Singapore Deep-Tech Alliance (SDTA2) has announced the launch of SDTA22, a venture builder programme, powered by XNode, a startup accelerator in China.

More about the SDTA22: A 9-month programme that aims to build deeptech companies that drive environmental sustainability through advanced manufacturing.

How it will help startups: By providing selected teams access to SDTA’s newly-patented technologies in the following verticals: semiconductor, energy, automotive, medtech and hardware.

XNode’s wide industry network will also be provided for startups to leverage on and lay the groundwork for expansion into China.

More about the story: The programme will kick off in July 2021 and will be split into three phases.

Each phase will be structured with deliverables based on technology application research, product development, market research, team development, and partnership acquisition, with the final demo day being the closing ceremony.

Meesho joins India’s unicorn club following US$300M funding

The story: Meesho, an India-based social-commerce platform, has raised US$300 million in a Series E round, according to The EconomicTimes.

Investors: SoftBank Vision Fund 2 (lead), Prosus Ventures, Facebook, Shunwei Capital, Venture Highway, and Knollwood Investment.

Current valuation: US$2.1 billion.

Also Read: Ecosystem Roundup: Are digital art NFTs horrible for Mother Earth? BoT gearing up for digital currency test

What the funding will be used for: Hiring and growing its team across technology, product, and other functions.

StashFin raises US$40M to expand across South Asia

The story: StashFin, an India-based neo-banking startup, has raised US$40 million in a Series B extension equity funding round.

Investors: Altara Ventures, Uncorrelated Ventures, Kravis Investment Partners, integrated Capital, Saison Capital, Tencent Cloud Europe BV, Alto Partners, Snow Leopard Ventures, and Positive Moves.

What the funding will be used for: Expansion across South Asia, growth in existing markets, and to strengthen its customer platform for local languages.

About StashFin: A digital lending venture that allows customers to access their credit facility with zero annual fees and easy monthly installments.

InfuseAI raises US$4.3M Series A from Hive Ventures

The story: InfuseAI, a Taiwan-based startup, has raised US$4.3 million in a Series A funding round.

Investors: Wistron Corporation (lead), Hive Ventures, Top Taiwan Venture Capital Group, Silicon Valley Taiwan Investments and 500 Startups

About InfuseAI: Founded. in 2018, InfuseAI helps businesses kickstart and manage the deployment of machine learning (ML) and AI quickly without worrying about establishing the computing, storage, and applications environment.

More about the story: InfuseAI mostly operates in Taiwan, where it largely serves financial and manufacturing clients.

Also Read: AppWorks raises US$114M for fund III to back Series A and B startups in SEA, Taiwan

The market for ML solutions is growing rapidly with the global market expected to reach almost US$4 billion by 2025.

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Image Credit: Rita Chou

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,In brief: New deeptech venture builder programme launched in S’pore; India’s Meesho is now a unicorn | e27

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