Startups Secure Millions in Funding, Driving Innovation Across Sectors
Several tech startups have recently secured significant funding, with investments coming from both local and international sources. The deals range from seed funding to pre-seed rounds, indicating a vibrant ecosystem for early-stage companies.
Eacon, a Chinese autonomous haulage solution provider, raised nearly RMB 400 million (USD 55.7 million) in equity financing. Meanwhile, Lingkeda Intelligent Technology, another Chinese company specialising in smart factory solutions, raked in an eight-figure RMB sum in an angel funding round.
In the realm of startups, the average monthly revenue stands at USD 65,000, with a robust growth rate of 18.25%. Wize, a Dubai-based sustainable last-mile delivery solutions startup, added USD 16 million to its coffers in a pre-seed round. Elsewhere, Aerologix, a Sydney-based drone technology startup, raised AUD 2 million (USD 1.3 million) to acquire Mappa.
Investment platforms and accelerators have also been active. The PharmStars Accelerator Program saw Barcelona-based Nina Capital, Salt Lake City-based Inoca Capital Partners, and Austin-based Capital Factory co-lead a $4.9 million seed funding round for DataJoint. AWS committed to investing USD 1.1 million to support up to 500 startups in its inaugural cohort. Accelerating Asia invested in eight startups from its ninth cohort, with the beneficiaries hailing from six markets: Singapore, India, Sri Lanka, Pakistan, Bangladesh, and Japan. Additionally, Animoca Brands, Amazon Web Services, and Polygon Labs launched the MoonRealm Express Accelerator.
The funding rounds and investments highlight the diversity and potential of startups in various sectors, from autonomous haulage and smart factories to sustainable delivery solutions and pet food. With such robust support from investors, these companies are well-positioned to scale and innovate.
