Deal Digest: Axcynsis Therapeutics receives $10m; Leap Finance gets $15m

Photo: Bloomberg

Singapore-based biotech startup Axcynsis Therapeutics and edtech firm Leap Finance have received fresh money as part of their earlier announced funding rounds, according to ACRA filings accessed by DealStreetAsia – DATA VANTAGE

Singapore’s Axcynsis Therapeutics bags $10m

Axcynsis Therapeutics, a Singapore-based biotech startup formerly named Tetris Therapeutics, received $10 million last week as part of a $15-million seed round announced in May.

The seed round was anchored by Trinity Innovation Bioventure Singapore (TIBS), an early-stage venture capital firm that focuses on the biomedical industry.

Axcynsis develops antibody-drug conjugates (ADCs) for cancer therapy. Globally, ADC sales are projected to exceed $16.4 billion in 2026. DealStreetAsia has reached out to Axcynsis for comment. 

Set up in March this year, the company believes that ADCs are the long-awaited solution for cancer. 

“Although the first ADC dates back to the early 2000s, there is an urgent need to develop new-generation ADCs to further improve the therapeutic window,” Dr Zou Bin, founder and CEO of Axcynsis, had said earlier. 

The startup is TIBS’s first investment in Singapore’s biotech industry, which has earned the top spot with its vibrant startup culture, strong R&D presence, open business policies, a skilled workforce, political stability, respect for intellectual property rights and government support.

Edtech startup Leap gets $15m from investors

Leap Finance, an Indian edtech startup that offers a platform for students aspiring to study abroad, received $15 million last week as part of a $75-million Series D round announced in June.

According to ACRA filings, Singapore-based VC investor Jungle Ventures sent another $7 million to the edtech startup, taking its contribution to the latest round to $15 million.

The Series D funding round was led by Silicon Valley-based Owl Ventures and participated by new investors Steadview Capital and Paramark Ventures, along with existing investors Jungle Ventures and Sequoia Capital India.

Leap was founded in 2019 by IIT-Kharagpur batchmates Vaibhav Singh and Arnav Kumar. The startup runs programmes including LeapScholar, LeapFinance and Yocket, which offer a suite of products catering to overseas education. 

These include preparations for international tests such as IELTS, TOEFL, SAT and so on; admissions and visa counselling; as well as financial offerings such as overseas student loans, bank accounts, credit cards and money remittance services.


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