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.
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, and Silicon Valley Taiwan Investments.
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.
The market for ML solutions is growing rapidly with the global market expected to reach almost US$4 billion by 2025.
Image Credit: Rita Chou
The post In brief: New deeptech venture builder programme launched in S’pore; India’s Meesho is now a unicorn appeared first on e27.
,In brief: New deeptech venture builder programme launched in S’pore; India’s Meesho is now a unicorn | e27
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