Buddy Bites raises USD 4.2 million Series A to expand pet food business
Buddy Bites, a Hong Kong-founded pet food company, has raised USD 4.2 million in a Series A funding round led by Digitalis Ventures, with participation from Hong Kong venture investor Adrian Lai. The deal marks the company’s first institutional venture funding since it was founded in 2020 by Ryan Black and Chris Lee.
Buddy Bites sells dog and cat food through a subscription-led model in Hong Kong and Singapore.
The company plans to use the funding to expand its core dog food business, grow its shelter donation program, and develop additional product categories. It launched cat food in Hong Kong and Singapore in June and plans to introduce shelf-stable fresh dog food later this year.
Buddy Bites also plans to enter Taiwan as it expands its regional pet nutrition business.
Kembangan Capital Partners raises USD 725 million for Asia-focused investments
Singapore-based Kembangan Capital Partners (KCP) has raised USD 725 million at the first close of two investment vehicles, anchored by an unnamed sovereign wealth fund investor, according to Bloomberg. Of the capital raised, USD 500 million will be allocated to fund-of-funds investments, while USD 225 million will be used for direct and co-investments in companies.
Founded by former Temasek executive Koh Wai Kit, KCP invests across private equity and venture capital. The two vehicles will target opportunities in China, India, Japan, South Korea, and Southeast Asia, with a focus on artificial intelligence and related infrastructure, healthcare and life sciences, consumer, and financial services.
Chandra Asri to acquire Cycle & Carriage businesses in Singapore and Malaysia
Jardine Cycle & Carriage has agreed to sell its Cycle & Carriage automotive businesses in Singapore and Malaysia to CCHPL Holdings, a wholly owned subsidiary of Indonesia-listed Chandra Asri Pacific, for an estimated cash consideration of SGD 265 million (USD 208.6 million). The deal also includes an earnout of up to SGD 30 million (USD 23.6 million).
The transaction covers Cycle & Carriage entities involved in vehicle distribution and retail, used vehicles, aftersales services, financing, and insurance in Singapore and Malaysia. It also includes associated Cycle & Carriage trademarks and intellectual property used in Singapore, Malaysia, and Myanmar.
At closing, Chandra Asri will also assume SGD 333 million (USD 262.1 million) of intra-group loans owed by Jardine Cycle & Carriage to Cycle & Carriage Industries.
Jardine Cycle & Carriage said the divestment will allow it to focus on its core markets of Indonesia and Vietnam. It intends to use the sale proceeds to reduce corporate net debt.
Blackbird closes AUD 1.05 billion venture fund
Blackbird, an Australia- and New Zealand-focused venture capital firm, has closed its latest fund at more than AUD 1.05 billion (USD 751.3 million), which it described as the largest venture capital raise in the two countries’ history.
New investors in the fund include Morgan Stanley Investment Management, Adams Street Partners, and Schroders. They join existing institutional backers including Australia’s Future Fund and pension funds Aware Super, HESTA, and Hostplus.
Founded in 2012, Blackbird invests in technology companies founded by Australians and New Zealanders, often entering at the pre-seed or seed stage and continuing to invest as its portfolio companies scale.
The new fund will allow Blackbird to continue backing founders from their earliest stages through later rounds. The firm said it has invested more than USD 2.1 billion in the region and returned more than USD 1.4 billion to investors.
Living Roots secures funding to scale biological fertilizers across Southeast Asia
Living Roots, a Thailand-based agriculture technology company developing biological alternatives to synthetic fertilizer, has raised seed funding from a group of returning and new angel investors under Epic Angels. The amount was not disclosed. Epic Angels also participated in a bridge round for the company in 2025.
Living Roots develops biological crop inputs for tropical agriculture using Hypha, its AI platform, which adapts formulations based on crop type, soil conditions, and growth stage. Its products are manufactured using regional feedstock and distributed through agribusinesses, cooperatives, and food companies.
Living Roots will use the funding to expand its team, scale field deployments, and build local manufacturing capacity as it grows across Southeast Asia.
Neocrete raises USD 3.5 million to expand low-carbon concrete technology
Neocrete, a New Zealand-based company developing additives for lower-carbon concrete, has raised USD 3.5 million in a round led by returning investor Wavemaker Ventures. Icehouse Ventures and Temasek Trust’s Catalytic Capital for Climate and Health also participated, while angel investors Doug Parker and Steve Melhuish increased their earlier investments.
Founded in 2018, Neocrete develops additives that allow lower-performing materials such as fly ash and volcanic ash to replace 30–50% of the cement used in concrete while maintaining strength, durability, and workability.
Neocrete will use the funding to expand into Europe and the US while increasing commercial deployment across Southeast Asia.
Craif raises USD 33 million to bring urine-based cancer test to the US
Craif, a Tokyo-based biotechnology company developing urine-based tests for early disease detection, has closed a roughly USD 33 million Series D round.
The financing was co-led by Granite-Integral, a joint venture between Granite Asia and Integral Corporation, and Japanese diagnostics company Tauns. Unreasonable and existing investor X&KSK also participated, alongside institutional and individual investors from Singapore, the US, and Japan.
The round comprised about USD 30.7 million in equity and USD 3.3 million in debt, bringing Craif’s total capital raised since its founding in 2018 to approximately USD 88 million.
The company will use the funding to expand R&D in the US, prepare for a reimbursement-driven US launch, conduct a prospective pancreatic cancer study, and advance a Japanese regulatory filing for its pancreatic cancer diagnostic software.
Tanaka invests in Clean Planet to advance next-generation energy technology
Tanaka Precious Metal Group has invested an undisclosed sum in Tokyo-based Clean Planet, an energy technology company. The investment marks the start of a collaboration combining Tanaka’s precious metal materials expertise with Clean Planet’s work on next-generation energy systems.
Founded in 2012, Clean Planet is developing “Quantum Hydrogen Energy,” or QHe, for clean energy systems intended for industrial and social infrastructure applications. The company is working toward commercialization, deployment, and mass production of the technology.
Through the partnership, Tanaka will contribute capabilities in surface engineering, analysis, evaluation, and other materials technologies. The companies will also explore ways to improve the performance and reliability of QHe systems and identify potential new products and services.
The amount and financial terms of Tanaka’s investment were not disclosed.
Recent deals completed in China:
- Cheng Bai, a Chinese fragrance brand centered on traditional craft techniques, has raised an eight-figure RMB sum in a pre-Series A round from Shanghai Film New Vision Fund. Linglu Capital served as financial advisor. Cheng Bai develops incense and fragrance products incorporating Chinese intangible cultural heritage techniques. Its portfolio spans traditional stick incense, scented plush ornaments, and handcrafted fragrance vessels. The brand said it will use the funding for product R&D, expansion of key sales channels, recruitment, and brand building. —36Kr
- Real Thermal Management Tech, a Beijing-based provider of aerospace-grade thermal management solutions, has raised an eight-figure RMB sum in a Series A+ round. Innoangel Fund, FG Venture, Jicui Huacai, and Xiangjiang Xincheng participated, alongside existing investor Jolmo Capital. The company develops active and passive thermal management products for spacecraft, including pump-driven liquid cooling systems, radiators, heat pipes, and thermal control coatings. It said its liquid cooling systems are already operating aboard multiple satellites. The funding will support R&D for active liquid cooling systems used in aerospace applications, expansion of its passive thermal management production line, and investments across its upstream and downstream supply chain. —36Kr
- Pandag, a commercial landscaping robotics company founded in 2021, has raised an eight-figure RMB sum in a Series A round from Seas Capital. The company develops commercial landscaping robots and an intelligent operations platform, beginning with its Pandag G1 robotic lawn mower. Its products are designed for large commercial environments, including golf courses, photovoltaic sites, and municipal green spaces, and have been deployed overseas. Pandag will use the funding to establish delivery capabilities in Europe, the US, and Australia, and expand its global distribution network. —36Kr
- Tianxing Tansuo, a Beijing-based provider of satellite internet connectivity and data services, has raised an eight-figure RMB sum in an angel plus round from Landstone Capital and Plum Ventures. Landstone, the sole investor in the company’s angel round, reinvested in the latest deal. Founded in April 2025, Tianxing Tansuo develops satellite communication terminals, software applications, and a data platform. It will use the funding for product R&D and production, as well as to build a multi-system integration pilot platform and a software platform. —36Kr
- FiveAges, an embodied intelligence company founded in 2024, has raised more than RMB 1 billion (USD 148.4 million) across consecutive Series A1 and Series A2 rounds. The Series A1 round was backed by Wuxi High-tech Investment Group, Bank of China’s AIC fund, and Triplex Investment. The Series A2 round drew investment from KHK Fund, the same Bank of China fund, Zhongshan Investment Holdings, Horizon Investment, Beyondsoft, and Jin Venture Capital. FiveAges will use the funding to support its global expansion, with Europe, Australia, New Zealand, Japan, and South Korea among its priority markets. —36Kr
N2TP, Grass, K2 Therapeutics, and others made recent headlines:
- N2TP, a Hanoi-based AI research company, secured seed funding from Touchstone Partners. The amount was not disclosed.
- Graas, a Singapore-headquartered retail AI company, raised USD 17 million in a Series B round led by LemmaTree, an investment firm founded by Temasek. Integra Partners, Tin Men Capital, The Xander Group, Incred Wealth, and Orzon also participated.
- K2 Therapeutics, a biotechnology company, has disclosed USD 50 million in seed financing from MPM BioImpact, which founded the company in 2024.
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Note: AUD, RMB, SGD figures are converted to USD at rates of AUD 1.40 = USD 1 and RMB 6.74 = USD 1 and SGD 1.27 = USD 1 based on estimates as of August 25, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.