Kickstart Ventures invests in Lydia AI
Lydia AI, a startup specializing in health risk assessments using artificial intelligence, has announced an investment from Kickstart Ventures, the venture capital arm of the Philippines’ telecom giant Globe Telecom.
Backed by the Ayala Corporation Technology Innovation Venture (ACTIVE) Fund, the partnership represents a union of AI technology and Ayala’s deep expertise in digital finance, automation, and renewable energy.
The collaboration aims to reshape Southeast Asia’s digital ecosystem by weaving health and finance into personalized customer experiences. Lydia AI is said to have already made strides in Taiwan and Japan, where it collaborates with financial institutions to deliver solutions tailored to diverse customer needs.
Freshket raises USD 8 million to spur food supply chain innovation
Freshket, a Thai startup redefining the food supply chain for restaurants, has raised USD 8 million in a funding round led by Thai President Foods (TFMAMA) and Kliff Capital, according to Techsauce. Existing investors Openspace and ECG Venture Capital also participated.
Freshket leverages technology to address inefficiencies in Thailand’s fragmented food supply chain. The platform connects restaurants with high-quality, reasonably priced ingredients while offering convenience through features like consolidated billing and timely delivery.
According to CEO Ponglada Paniangwet, this funding will enable Freshket to expand its product offerings, enhance its platform, and better serve the evolving needs of customers.
Saudi Venture Capital backs Jadwa’s SAR 1.5 billion fund
Saudi Venture Capital (SVC), a subsidiary of Saudi Arabia’s Small and Medium Enterprise Bank (SME Bank) under the National Development Fund, has announced its investment in Jadwa GCC Private Equity Fund 1. This regional fund focuses on unlocking high-potential private equity opportunities across Saudi Arabia and the GCC.
Managed by Jadwa Investment, a premier investment firm in the Middle East, the fund seeks to raise SAR 1.5 billion (USD 400 million), with a hard cap of SAR 2 billion (USD 533 million).
The collaboration aligns with SVC’s mission to bolster Saudi Arabia’s private equity ecosystem by supporting startups and small to medium enterprises (SMEs), reinforcing the kingdom’s commitment to economic diversification under Saudi Vision 2030.
Alibaba’s AEF NextGen Fund commits USD 150 million to AI-driven innovation
Marking its tenth anniversary, the Alibaba Hong Kong Entrepreneurs Fund (AEF) has unveiled the AEF NextGen Fund, a USD 150 million initiative designed to empower startups leveraging artificial intelligence (AI) to address structural challenges. The fund targets growth-stage companies in key industries such as financial services, healthcare, and consumer retail, offering resources and expertise to help them scale globally.
““The sectors that the AEF NextGen Fund will focus on are important pillars to the economy of Hong Kong and the adoption of AI can elevate the efficiency and support these industries to continue to thrive and stay competitive globally,” said Cindy Chow, CEO of AEF and partner at NextGen Partners.
Supported by Alibaba’s ecosystem and strategic partnerships with organizations like Cyberport and the Hong Kong Science and Technology Park (HKSTP), the fund aims to position Hong Kong as a global hub for AI innovation, fostering connections between Chinese and international markets.
CATL sets sight on Hong Kong listing
Contemporary Amperex Technology (CATL), the world’s leading electric vehicle battery manufacturer, has confirmed plans to list on the Hong Kong Stock Exchange, according to Reuters. The company intends to issue offshore H-shares as part of a strategic push to strengthen its international footprint.
Holding a commanding 37% share of the global EV battery market, CATL is navigating an increasingly competitive landscape in China’s EV market, where a price war is unfolding. The proposed Hong Kong listing is expected to bolster CATL’s global positioning and enhance its access to international investors.
Specific details of the listing are yet to be finalized.
Recent deals completed in China:
- Transcabler, a developer of heavy-duty industrial robots, has raised pre-Series A funding totaling an eight-figure RMB sum. The round was led by Seas Capital, with additional participation from Qingyan Tiansheng Venture Capital. The company plans to channel the funds into enhancing its line control robotics applications across multiple industries and expanding its team. —36Kr
- QXME, a developer of power semiconductor devices, has secured close to RMB 100 million (USD 14 million) in a pre-Series B funding round. The lead investor was Qingdao Guoxin, with Findowin Capital and Yunhui Shunhe Fund also participating. This investment will support QXME’s product development, market expansion, and working capital needs. Founded in 2016, QXME specializes in advanced chips, including insulated-gate bipolar transistors (IGBTs), catering to sectors such as electric vehicles and humanoid robotics. —36Kr
- Upward Technology, a provider of magnetorheological material solutions, has closed a Series A funding round led by the Hangzhou Fuyang Economic and Technological Development Zone Industrial Guidance Fund. The company did not disclose the amount raised. The funding will be used to bolster production and marketing efforts. —36Kr
- MagicLab, a company developing general-purpose robotics and embodied intelligence technology, has raised RMB 150 million (USD 21 million) in an angel funding round. Empyrean Ventures led the round, with Yipu Fund also participating. The capital will be directed toward R&D, manufacturing, and commercialization efforts for humanoid and quadrupedal robots. Established in January 2024, MagicLab draws on expertise from global institutions, including New York University and Tsinghua University. —36Kr
Bolttech, Catcha Digital, Pixelbloom, and more made recent headlines:
- Bolttech, a Singapore-headquartered insurtech firm, raised over USD 100 million in a Series C funding round led by Dragon Fund, with additional backing from Baillie Gifford and Generali.
- Catcha Digital, an internet and digital media investment company, agreed to acquire a 70% stake in Tastefully, a leading food expo organizer in Malaysia, for MYR 7.6 million (USD 1.7 million). Catcha is also aiming to acquire a 60% stake in Drive 2 Digital (D2D) for MYR 16.2 million (USD 3.6 million).
- PixelBloom, an AI-generated content (AIGC) company, secured an undisclosed amount of funding in a Series B2 round led by the Beijing Artificial Intelligence Industry Investment Fund, with support from other investors.
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