By Shiwen Yap
Korea’s work-sharing startup Fast Five, Australia’s Emperor and Japan’s CureApp have secured additional growth funding.
Fourier will use the fresh funds to further develop and commercialize its medical robots.
US-based Polen Capital and Scout Investment would manage the funds raised by ASK Wealth.
The company has already raised over $460,000 previously from 500 Startups, JFDI, and Manila Angel Investors Network.
Avishkaar raised the funding amount at a post-money valuation of $4 million.
The company is currently expanding its freeze-drying capacities besides diversifying into air drying for bulk customers.
“It’s good for investors if valuations go up as they can exit at those prices,” said Rajeev Misra, head of the Vision Fund, citing deals with Didi Chuxing, Uber Technologies Inc. and WeWork Cos. where early investors exited by selling stakes to SoftBank.
This will mark the largest fund by the VC firm which has been active in the region since 2010.
In September, Unacademy had raised $11.5 million from Sequoia and SAIF at a valuation of around $40-50 million. The latest investment could see its valuation rising to $110-130 million.
The proceeds will be used to further enhance the Mober app, in addition to expanding its business and adding more van partners.