Hey folks, welcome to the roundup of May’s climate tech funding across Asia-Pacific!
From solar gigafactories to dairy proteins and waste-to-energy startups, last month’s funding activity surfaced a few telling undercurrents:
🇮🇳 ReNew, India’s leading renewables firm expanding into solar manufacturing, raised US $100 m in a growth/strategic round from British International Investment, to build a 4 GW TOPCon cell-and-module plant in Gujarat.
🇸🇬 VFlowTech, developing modular vanadium redox-flow batteries for long-duration energy storage, raised US $20.5 m in a Series A extension from Granite Asia, EDBI, MOL PLUS, PSA Ventures and Wavemaker, to scale production and expand into the EU and Japan.
🇮🇩 Arysun, building a rooftop-solar financing and analytics platform for Indonesian SMEs, raised US $575 k in a pre-seed round led by Wavemaker Impact with First Move Fund, to pilot installations and hire its founding team.
🇦🇺 Sicona Battery Technologies, developing next-generation silicon-rich anode materials to improve Li-ion battery performance, raised A $15 m in strategic investment from Himadri Speciality Chemical, to construct its first commercial anode plant and fast-track a US pilot line.
🇸🇬 Quantified Energy, using drones and AI to inspect and manage solar assets, raised an undisclosed Series A from Vertex Ventures SEA & India to productise its platform and expand across Southeast Asia and India (DealStreetAsia).
🇨🇳 Zhonghai Energy Storage, manufacturing iron–chromium flow-battery systems for grid-scale deployment, raised > RMB 100 m in a pre-Series A++ round from Ant Group, Junheng Investment and Changping SME Fund, to commission a 100 MWh factory and develop next-gen stacks.
🇸🇬 Alternō, developing sand-based thermal energy storage to replace diesel-powered heat in industrial settings, raised an undisclosed Series A from UntroD Capital Asia, ADB Ventures and Antler, to manufacture systems in Vietnam and deploy them for agro-processing use cases.
🇮🇳 Tan90 Thermal, building portable phase-change “cold battery” systems for last-mile refrigeration, raised US $2.3 m in a Series A from NABVENTURES and Blue Ashva Capital, to scale up production and expand into new markets in South and Southeast Asia.
🇮🇳 Alt Carbon, pioneering enhanced rock weathering to remove atmospheric CO₂, raised US $12 m in a seed round led by Lachy Groom with Shastra VC and angels, to secure basalt supply and launch 10-kilotonne carbon removal field pilots.
🇸🇬 Gprnt, a MAS spin-out developing ESG and carbon-reporting infrastructure, raised US $4.62 m in seed funding from Ant International and MUFG Bank to build a Scope 3 emissions data engine and expand into Hong Kong and Japan.
🇦🇺 Bovotica, developing methane-reducing probiotics for cattle, raised A $3.4 m in a seed round from AgriZeroNZ, Melt Ventures and SparkLabs, to conduct field trials and navigate regulatory pathways.
🇦🇺 Levur, creating a yeast-derived replacement for palm oil, raised A $1.2 m in a pre-seed round from Main Sequence, GrainCorp Ventures and SparkLabs Cultiv8, to scale fermentation capacity and grow its R&D team (AFR).
🇸🇬 Kind Kones, producing plant-based frozen desserts, raised an undisclosed Series A extension from Epic Angels Network and DSG Consumer Partners, to increase production capacity and expand into Hong Kong and the Middle East.
🇮🇩 Acronesia, building an agronomy and market-access platform for smallholder farmers, raised an undisclosed round from ANGIN and Koalisi Ekonomi Membumi, to launch an AI crop advisory tool and onboard 50,000 farmers.
🇲🇾 LocalPasar, creating a digital marketplace for surplus farm produce, raised US $110 k in a pre-seed round from Antler, to develop logistics infrastructure and scale across the Klang Valley.
🇻🇳 MUU, engineering precision-fermented dairy proteins for Asian alt-dairy products, raised an undisclosed seed round from A2D Ventures and Leave a Nest Japan, to commission a lab-scale bioreactor and begin regulatory preparation.
🇮🇳 Celcius Logistics, operating a tech-enabled cold-chain logistics network, raised US $29.5 m in a Series B (including debt) from Eurazeo, Omnivore and IvyCap Ventures, to digitise operations and expand to 1,000 Indian cities.
🇮🇩 Rekosistem, operating a full-stack waste-management and recycling platform, raised US $7 m in a Series A from Saratoga, K3 Ventures, AppWorks, Skystar Capital and Bali Investment Club, to build new materials-recovery facilities and expand its software tools.
🇮🇩 Remind, managing e-waste collection and circular materials resale, raised US $1.3 m in seed funding from Bali Investment Club, Beenext and Spiral Ventures, to expand into five new cities and enhance its mobile platform.
🇮🇳 Promethean Energy, designing industrial systems that convert waste heat into usable energy, raised US $2 m in a pre-Series A led by Transition VC with Sangam Ventures and Sagana Capital, to commercialise its high-temperature recovery units for factories across South Asia.
🇨🇳 Rino.ai, building autonomous electric-scooter fleets for last-mile delivery, raised RMB 200 m (~US $27.7 m) in a Series B from SF Express, to ramp up vehicle production and launch in new cities across China.
🇦🇺 Kite Magnetics, developing next-gen electric motors for regional e-aircraft using nanocrystalline materials, raised A $3.6 m in a seed-plus round from SQM Lithium Ventures, Breakthrough Victoria and Investible, to build a 250 kW prototype and pursue certification.
🇮🇳 Euler Motors, manufacturing electric three-wheelers for commercial logistics, raised US $74.6 m in a Series D led by Hero MotoCorp with BII, Athera VC and Blume Ventures, to scale its factory output and introduce new models.
🇮🇳 Alt Mobility, offering fleet-leasing and EV charging for logistics operators, raised an undisclosed strategic round from Beyond Capital Ventures, EV2 Ventures and Eurazeo, to expand its EV fleet and charging hubs in five Indian cities.
🇮🇳 Routematic, transitioning corporate commuting services to electric fleets, raised US $40 m in a Series C from Fullerton Carbon Action Fund and Shift4Good, to electrify 10,000 vehicles and open urban fleet-control centres.
In total, 27 companies raised capital in May across six countries and seven core sectors. While mega-rounds were concentrated in EVs and renewables, early-stage bets spread widely, from e-waste apps in Bali to ESG infra in Singapore.