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Deal Brief: HealthCred and Vayana raise funding, Antler announces final close of second Southeast Asia fund, three deals in China and more

Posted on by darion

HealthCred raises $1.2M in seed round

HealthCred, an Indian B2B healthcare financing startup, has raised $1.2 million in a seed round led by Antler India, TRTL VC, DeVC, iSeedVC, and AngelList India, with angel investors including Subho Ray (IAMAI), Nitin Gupta (Uni Cards), and Amit Lakhotia (ParkPlus).

The funds will be used to strengthen customer relationships, expand operations in South and West India, hire new staff and further develop implementation and management systems.

Vayana Secures $20.5 Million in Series D Funding

Vayana, an India-focused trade credit infrastructure company, has raised $20.5 million in a Series D funding round led by SMBC’s Asia Rising Fund. The round saw participation from existing investors including International Finance Corporation (IFC), Chiratae Ventures, and Jungle Ventures, as well as family offices such as Quantum State Investment Fund and Emerald Company.

The funds will be used to enhance Vayana’s platforms across trade credit, regulatory compliance and risk management.

Antler Announces Final Close of Second Southeast Asia Fund

Antler, a Singapore-based venture capital firm, has completed the final close of its second fund in Southeast Asia at $72 million, according to TechCrunch.

This fund will focus on pre-launch, pre-seed and seed-stage startups in Singapore, Malaysia, Indonesia and Vietnam. Antler plans to allocate $27 million to support 45 startups over the next six to nine months, with the goal of supporting around 300 companies through the fund.

In addition to early-stage investments, Antler will allocate up to $10 million to growth-stage startups through its new fund, Antler Elevate. The firm will target sectors such as fintech, healthcare, and artificial intelligence, aiming to address critical needs in high-growth markets.

South Korean Bering Lab Earns $2.3 Million

AI-powered legal translation startup Bering Lab has raised $2.3 million in a pre-Series A funding round led by SBVA with participation from The MBA Fund.

The South Korean startup will use the capital to improve user experiences and accelerate overseas expansion.

Founded in 2020, Bering Lab provides specialized AI translation engines for complex legal documents and claims to serve more than 300 clients worldwide, including 140 law firms. The company plans to expand into the finance, life sciences and IT sectors, offering customized solutions to overcome language barriers. —e27

Proto Axiom Closes First Series B Round

Proto Axiom, an Australian biomedical technology incubator, has announced the first close of its $30 million Series B round, raising $20 million. The round includes support from investors including Catalio, Parkview International, Churchill Asset Management and HOF Capital.

In a statement, Proto Axiom said it would use the funds to strengthen Australia’s biotech sector by increasing IP retention. The company will continue to invest in cutting-edge projects, including Swan Genomics, which is developing advanced DNA sequencing technology, and Endo Axiom, focused on needle-free insulin delivery systems.

Recent transactions in China:

  • Suncore SemiconductorsShenzhen-based integrated circuit design company has secured an eight-digit amount of RMB in a Series C funding round. The round was invested solely by a fund jointly founded by Jinding Capital and Etek Microelectronics. The capital will be used to accelerate new product development, mass production, and market expansion. —36 crowns
  • Molar intelligenceAI data company, has closed a Series A funding round led by FreesFund, raising an eight-figure RMB sum. The round includes a follow-on investment from existing shareholder Ofound Angel. The company plans to use the funds to enhance its technology, recruit talent, and accelerate its international expansion. —36 crowns
  • Deep RoboticsThe Hangzhou-based smart robot maker has completed a Series B+ funding round, raising an undisclosed amount of capital from Hansong Asset Management, Huajian Hanshu, Shenzhen Smart City Capital, and Moganshan State-owned Capital Holding Group. —36 crowns

Yesterday, headlines featured Aevice Health, Reforged Labs, Skuad, and others:

  • Health AevikaSingapore-based medtech company, raised $7 million in a seed-plus funding round led by Coronet Ventures, the venture capital unit of Cedars-Sinai Intellectual Property (CSIP). East Ventures and Seeds Capital (SG Growth Capital) also participated.
  • Rebuilt laboratoriesA startup focused on AI-powered video ad solutions for the gaming industry, has raised $3.9 million in a seed funding round led by global venture capital firm DCM, with participation from Y Combinator, Epakon Capital, Goodwater Capital, Phoenix Fund, Asymmetry Ventures, and several angel investors, including executives from Niantic and Pocket Gems and the founders of King and Sky Mavis.
  • ScoudSingapore-based HR and payroll solutions provider Payoneer has been acquired by fintech firm Payoneer for US$61 million in cash. The deal includes a potential additional US$10 million based on the achievement of performance milestones, as well as a further US$10 million in restricted stock units that vest based on the continued employment of key personnel.

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