Deals in brief: 81Ravens raises funding, Honor secures investment ahead of IPO, five other China deals, and more

81Ravens raises USD 4.5 million for esports game development

81Ravens, a Singapore-based game development company known for its arena shooter game Paravox, has raised USD 4.5 million in a seed funding round co-led by Digital Hearts Holdings and Gree Ventures. The funding will propel the ongoing development and marketing of Paravox, which is set to debut on the Solana blockchain.

Founded in 2020, 81Ravens has gained traction in Japan and Southeast Asia, with Paravox reportedly surpassing 100,000 downloads on the Epic Games Store. Designed to elevate the esports ecosystem, the game is said to integrate blockchain technology to streamline player experiences on Solana’s infrastructure.

In a statement, CEO Shimpei Yoshimura said 81Ravens also aims to redefine esports by creating a fair platform for contributors. The company hosted a Paravox tournament this year and is planning a second major esports event in December.

Screenshot of Paravox gameplay. Image and header image courtesy of 81Ravens.

Honor secures investment ahead of planned IPO

Chinese smartphone maker Honor, once a subsidiary of Huawei Technologies, has attracted new investors, including China Telecom, CICC Capital, and Cornerstone, according to Reuters. The Shenzhen-based company, currently China’s third-largest smartphone maker, has not disclosed the amount raised.

Honor announced IPO plans last year but has yet to confirm a timeline or location for its listing. The company, which also received backing from China Mobile in August, has benefited from government support, receiving R&D funding and tax incentives from the Shenzhen city government.

Other deals recently completed in China:

• Eikto Battery, a developer of industrial lithium-ion batteries from Anhui, has secured RMB 400 million (USD 56 million) in a funding round led by state capital investors including Hefei Industry Investment and Kaisheng Group. A RMB 3 billion industry fund backed by China Galaxy Investment (CGI) also participated. Eikto plans to use the capital to strengthen its electric forklift and new energy ship offerings. —36Kr
• Lightwheel AI, an artificial intelligence technology firm, has completed a pre-Series A+ funding round, securing tens of millions in RMB. The investment was led by Beijing Artificial Intelligence Industry Investment Fund, with existing investor Matrix Partners participating. The funds will support R&D on end-to-end autonomous driving and embodied intelligence, along with global business expansion. —36Kr
• Sniper, a precision medicine provider, has raised RMB 128 million (USD 17.9 million) in its Series B+ funding round. Led by Huimei Capital, with participation from Cowin Venture Capital and Nanwan Baiao Fund, the funds will be allocated toward developing digital polymerase chain reaction (PCR) products and expanding internationally. —36Kr
• Linke Zhihua, a data intelligence firm focused on AI-driven solutions, has completed a seed funding round of RMB 23 million (USD 3.2 million) led by Change Capital. The investment will bolster team expansion and AI technology R&D. —36Kr
• Zhulian Technology, a construction robotics company, has raised an eight-figure USD sum in pre-Series A funding. The investment was led by Shunwei Capital. Returning investors BlueRun Ventures and Beijing Hanjian Group also participated. Zhulian will channel the funds into team expansion, product diversification, and establishing manufacturing and sales networks. —36Kr

Coolmate, PangoCDP, Chickin, and more made recent headlines:

• Coolmate, a Vietnamese D2C menswear brand, closed its USD 6 million Series B funding round, led by Vertex Ventures Southeast Asia & India.
• PangoCDP, a Vietnamese B2B startup, has secured USD 1.5 million in seed funding from Kairous Capital.
• Chickin, an Indonesian agritech startup, confirmed it raised USD 20 million in Series A+ funding, combining USD 15 million in equity and USD 5 million in debt. The investors include Granite Asia, East Ventures, Integra Partners, and the Asian Development Bank (ADB).

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