Deals in brief: Thailand’s APX and Malaysia’s LiveIn secure funding, multiple China and India deals, and
Thailand’s APX Solutions secures fresh funding to launch Singapore and Malaysia operations in 2024
The Thailand-based logistics technology company has secured fresh funding from ADB Ventures to support the launch of its operations in Singapore and Malaysia in 2024. The funding round also saw participation from Orzon Ventures and WV Fund II, and is expected to close in early 2024.
According to APX Solutions, the funds will facilitate the enhancement of its logistics platform by integrating artificial intelligence and advanced analytics capabilities. The company is aiming to leverage the strategic positions of Singapore and Malaysia in the Asia Pacific to expand its customer base and tap into the potential of the regional market.
“We are enthusiastic about the transformative impact that APX brings to the logistics landscape. [Its] palletised model addresses the critical issue of trucking backhaul and promises substantial efficiency gains, fostering a more sustainable supply chain,” said Thitirat Sittakaradej, investment specialist at ADB Ventures.
Malaysia’s LiveIn raises USD 8.3 million to expand in Southeast Asia
LiveIn, a Malaysia-based prop tech company focused on serving the long-stay rental community, has raised USD 8.3 million in a funding round jointly led by Wavemaker Partners and InterVest. Other investors that participated in this round include Malaysia Debt Ventures, Jungle Ventures, and CAC Capital.
LiveIn will utilize the newly raised capital to expand its operations in Thailand as well as new markets Vietnam and Indonesia. The company intends to expand its portfolio of properties and hire more staff in these countries.
This marks the third funding round completed by LiveIn since it raised around USD 3 million in Series A funding in 2019. It raised USD 1.4 million and USD 3.7 million in 2020 and 2021 respectively. Its valuation grew from USD 8.6 million to USD 26.4 million during this period.