A Recap on What Happened This Week: Asian Startup News Overview (June 19th -June 23rd)

The month of June is almost over and so does the funding rounds for this week. Asian start-ups have seen investments across a wide range of industries where technology has received more attention. Artificial intelligence, a popular technology, has received a lot of funding to enable businesses to use it without knowing any programming. Even the space technology industry, which is important for examining the new discoveries, has accumulated a sizeable sum to advance with the space operations. The next industries that received major investments as well as funding to improve business operations and advance human wellness were the food and healthcare sectors.

This week, we saw a Tokyo- based startup has raised $32 million in a Series B fundraising round whereas, a firm that has developed a sleep tech wearable gadget, has completed a bridge round of financing from Samsung Ventures Investment Corporation.

The Five Startups that made fortune this week are-:

FLUX

FLUX, a Tokyo-based startup, has raised $32 million in a Series B fundraising round headed by venture capital firm DNX Ventures. The fundraising round included existing backers Archetype Ventures as well as new investors Japan Co-Investment, Aozora Corporate Investments, Salesforce Ventures, Sony Innovation Fund, SMBC Nikko Securities, and NTT Docomo Ventures.

This latest round of funding increases FLUX's total raised money to $40 million, which will be used to further develop FLUX AI, their no-code AI platform.

FLUX AI, FLUX's no-code AI platform, enables businesses to leverage the capabilities of AI technologies such as predictive analytics, natural language processing, and massive language models without any prior coding experience or expertise.

Drools

Drools Pet Food Pvt Ltd said this week that company has received $60 million in capital from investment firm L Catterton. The investment represents 10% of the company's capitalization.

The funds will be used to improve the company's manufacturing capabilities, expedite store development ambitions, boost marketing, and recruit new employees, according to Drools.

"This collaboration will usher in a new era of growth as India's developing pet market matures across metros, Tier-1, and Tier-2 cities." This fundraising milestone allows us to further cement our market position and continue our path towards making a good influence in the pet food industry," stated Fahim Sultan, Founder of Drools Pet Food.

Digantara

Digantara, an Indian space tech business focused on space situational awareness, has raised $10 million in a funding round headed by Peak XV Partners (previously Sequoia Capital India and Southeast Asia) to begin commercial space operations and satellite traffic management. This is notable as the renowned investor's first investment in space technology.

Kalaari Capital, the startup's current investor, participated in the all-equity Series A1 investment round. It also welcomed Global Brain, Campus Fund, and the founders of IIFL Wealth to its cap table. To date, the four-year-old firm has secured $12.5 million, including a $2.5 million seed round from Kalaari Capital in 2021.

Skye

Skye, the world's first AI companion specifically developed for influencer marketers, was launched today by affable.ai, a prominent innovator in the marketing technology business.

Influencer marketing has become critical for organisations to engage with their target audience in today's fast-paced digital media world. affable.ai, founded five years ago, is one of the fastest-growing platforms in the influencer marketing field. Over 5,000 marketers from major brands and agencies operating active influencer campaigns use affable.ai. Marketers may use the platform to locate the relevant influencers, develop collaborations, launch campaigns, and track reports all under one roof.

Earable Neuroscience

In accordance with a business release, Earable Neuroscience, a firm that has developed a sleep tech wearable gadget, has completed a bridge round of financing from Samsung Ventures Investment Corporation.

The deal's specifics are still unknown.

Earable had previously received money from Founders Fund, Smilegate Investment, 500 Global, and a number of angel investors.

Through this investment, Samsung Ventures seeks to develop ties within its local and global network to enhance Earable Neuroscience's global market expansion, including the Korean market.