Funding secured by RayGen and Uncharted, gigantic climate fund closed by Temasek and BlackRock at USD 1.4 billion, strategic partnership between Bahrain's Investcorp and China, and further deals summed up.
In a flurry of recent funding rounds, startups across various sectors have secured significant investments to fuel their growth and expansion. Here are some of the notable funding announcements:
The OpenAI Startup Fund, separate from OpenAI, has closed a USD 15 million tranche, bringing the fund's commitments to USD 175 million and gross net asset value to USD 325 million. The funding round was led by Shima Capital, with participation from The Spartan Group, Double Peak Group, Devmons, and 32-Bit Ventures.
RayGen, an Australian solar and storage technology company, secured close to USD 33 million in a Series D funding round. The funds will be used to enhance its manufacturing capabilities. RayGen issued USD 20 million and AUD 20 million (USD 13.1 million) of shares to SLB and Breakthrough Victoria, respectively.
RayGen has also entered into a strategic deployment agreement with SLB, aimed at expediting its go-to-market timeline and international expansion.
Northern Arc, a non-banking financial company (NBFC) headquartered in Chennai, has raised a total of USD 80 million in debt and equity funding. The exact details of the funding round are yet to be disclosed.
Shafa Interactive Network Technology, a content e-commerce company, has raised an eight-figure RMB sum of angel funding. Biyopharma, a biopharmaceutical R&D company, has completed an angel round of financing, banking an eight-figure RMB sum as well.
CheQ, a Bengaluru-based credit management firm, has raised INR 350 million (USD 4.2 million) in an extended seed funding round. BankBazaar, a financial products platform, has raised INR 800 million (USD 9.5 million) in an ongoing Series D funding round.
Anichess, a chess-based online strategy game, secured USD 1.8 million in a funding round jointly led by Sfermion and Amber Group. Lyskraft, a fashion startup, has snagged USD 26 million in a seed funding round.
In the tech sector, KS-V Peptide, a Hefei-based peptide drug discovery company, has completed its Series B funding round. Xinjinbang Technology, a Chengdu-registered chip manufacturer, has secured an undisclosed amount of Series A+ financing.
Investcorp, a global alternative investment firm, announced the launch of Investcorp Global Horizon, a platform with a target size of USD 1 billion, in partnership with the sovereign wealth fund China Investment Corporation (CIC). The platform will invest in high-growth companies across Saudi Arabia, other Gulf Cooperation Council (GCC) countries, and China.
Decarbonization Partners, a joint venture between Singapore state investor Temasek and global asset manager BlackRock, has closed its fund after securing USD 1.4 billion in commitments. Canada Pension Plan Investment Board (CPPIB) contributed the $1.4 million bond to the Decarbonization Partners Climate Fund, alongside Temasek and BlackRock.
Lastly, xAI, a competitor to OpenAI, is raising USD 6 billion on a pre-money valuation of USD 18 million. Uncharted, a GameFi company, secured USD 1.7 million in a funding round. Uncharted intends to utilize the funds to expand its GameFi ecosystem and launch future titles.
These funding announcements highlight the continued interest and investment in innovative startups across various industries, signalling a positive outlook for the global startup ecosystem.
