Zepto Raises USD 200M, Hits USD 1.4B Valuation; HC Scientific Raises RMB 300M
Indian quick commerce company Zepto has raised USD 200 million in funding, achieving a valuation of USD 1.4 billion. Meanwhile, Chinese biotechnology company HC Scientific has completed a Series B+ funding round, raising over RMB 300 million (USD 41.1 million). In other news, OpenAI CEO Sam Altman is seeking to raise at least USD 100 billion in the Middle East.
Zepto, a quick commerce company based in India, has successfully raised USD 200 million in funding. This investment has valued the company at USD 1.4 billion. In China, Mateside, a home rehabilitation medical equipment company, has raised nearly RMB 100 million (USD 13.7 million) in its first round of financing. On the other hand, OpenAI is facing financial challenges due to the high computing power requirements of its operations, with ChatGPT alone costing approximately USD 700,000 per day. In the electric vehicle sector, Indonesian coal producer Geo Energy has partnered with Singapore-based startup Charged Asia in a USD 40 million loan agreement. The funding will be used to expand Jianwang Technology's production capacity and support its R&D efforts. The loan agreement allows for conversion into ordinary shares of Charged Asia under certain conditions, with funds supporting the EV company's growth in Southeast Asia. Chinese health tech company Jianwang Technology has also closed a seed round worth around RMB 100 million (USD 13.7 million).
The funding rounds and partnerships highlight the ongoing investment activity in various sectors, from quick commerce and biotechnology to electric vehicles and health tech. While OpenAI faces operational costs, the overall funding landscape remains robust.
