Kitar raises funding to scale secondhand e-commerce in Southeast Asia
Kitar has completed a pre-Series A funding round, raising more than USD 10 million, according to 36Kr. The round was led by Source Code Capital, with oversubscription from Hike Capital and participation from MindWorks Capital. Silver Oak Capital acted as financial advisor.
The secondhand e-commerce company, based in Indonesia, said it will use the new capital to invest in artificial intelligence capabilities, quality inspection and supply chain infrastructure, offline recycling and collection networks, and localized operations. Kitar added it will continue deepening its domestic presence while accelerating expansion into other Southeast Asian markets.
Kitar is positioning itself as a hybrid B2C and C2C secondhand commerce platform, starting with used smartphones before expanding into broader consumer electronics and durable goods categories. The company said this model allows it to build trust and standardization through self-operated inventory while using lighter marketplace functions to drive traffic and category breadth.
Kitar said Indonesia is its priority market because of its scale and strong local demand for secondhand goods. The company currently operates three mall stores and five workstations, and plans to expand that footprint by the end of this year. It also said it is working with Shopee on trade-in programs and with local distributors in Indonesia.
PolicyStreet secures USD 21 million in Series C first close
PolicyStreet, a Malaysian insurtech firm, has secured USD 21 million in the first close of its Series C round, led by Japan’s sovereign wealth fund Cool Japan Fund, with participation from existing investors Altara Ventures, Gobi Partners, and other backers.
The company said the financing follows its reporting of more than USD 1 million in profit for fiscal year 2025 and will support regional expansion, technology upgrades, and deeper partnerships across Asia.
PolicyStreet said it remains in discussions with additional investors as the Series C round continues.
A2D Ventures leads seed investment in Nightify
Nightify, a Thailand-based nightlife platform, has raised a total of USD 500,000, including a seed round led by A2D Ventures and backed by angel investors from the hospitality, retail, and consumer sectors.
Nightify operates a platform for discovering, booking, and managing nightlife experiences. The company said it is building infrastructure that connects venues and consumers, offering booking, event management, and customer relationship tools for operators while helping users discover venues based on music, location, and atmosphere.
The startup said the fresh capital will be used to expand its venue network across Thailand, improve product capabilities, and drive user growth through marketing, partnerships, and community-led initiatives ahead of a wider Southeast Asia push. It also said it is expanding into deeper venue infrastructure, including payments, point-of-sale integrations, and operational tools.
Rosella raises AUD 3.7 million to build AI-native insurance brokerage
Rosella, a commercial insurance brokerage, has raised AUD 3.7 million in a pre-seed round co-led by Peak XV Partners and Intact Private Capital.
The company is targeting the US commercial insurance brokerage market, which it describes as operationally complex and still heavily reliant on manual workflows. Rosella said its platform automates tasks such as policy comparison, submissions across more than 100 carrier portals, and certificate generation, while providing real-time support to sales staff during live calls.
The company said the new funding will help it continue building out its AI-driven brokerage infrastructure.
Olam to sell Mindsprint to Wipro for USD 375 million
Olam Group has agreed to sell its entire stake in Mindsprint to Wipro for USD 375 million in cash, subject to closing adjustments, as part of its broader reorganization plan.
The company said the divestment is aligned with its reorganization plan, under which it aims to monetize remaining assets over time and distribute net proceeds to shareholders through special dividends. Alongside the sale, Olam has also awarded Wipro an eight-year strategic transformation contract with a committed annual spend of USD 100 million.
Under the agreement, Wipro will provide transformation services across Olam’s farm-to-fork value chain, covering areas such as farming, manufacturing, forecasting, trading, supply chain operations, and customer engagement. Olam said the work will focus on improving operational effectiveness, resilience, and long-term growth.
Mindsprint, which provides technology, cybersecurity, and digital solutions, has more than 3,200 employees and serves enterprise clients across multiple sectors. The transaction is expected to close by the end of June 2026, subject to customary conditions.
Western Union completes Dash acquisition from Singtel
Western Union has completed its acquisition of Dash from Singtel after receiving all required regulatory approvals. Dash was previously operated by Singcash, a Singapore-based unit of Singtel.
The payments company said the deal gives it its first wallet in Asia Pacific and marks a milestone in its strategy to build a broader send-and-receive network globally.
Western Union said integrating Dash will allow it to embed cross-border capabilities into more everyday financial services and connect Singapore users more directly to its global network.
MSIG Asia backs Ancileo to expand travel insurance across Asia
MSIG Asia has made an equity investment in travel insurance technology provider Ancileo and entered into a regional partnership aimed at accelerating its travel insurance business across Asia.
The insurer said the tie-up will help it roll out more personalized travel protection products and simplify claims for travelers, while giving airlines, online travel agencies, and other distribution partners a faster way to launch insurance offerings across multiple markets.
The partnership comes as intra-regional travel in Asia Pacific continues to recover and insurers look to embed coverage more directly into digital booking flows. MSIG said the collaboration will strengthen its digital capabilities and distribution connectivity as demand grows for travel products integrated at the point of purchase.
Recent deals completed in China:
- XNDT, a provider of AI-powered ore-sorting equipment, has completed its Series C round, raising nearly RMB 200 million (USD 29 million). The round was led by China Merchants Capital, with participation from Jingguorui Investment Management, Daxing Industrial Investment, BCT Capital, a Kaiyuan Securities subsidiary, and Prime Light Capital. The company will use the funds for R&D, global expansion, and team building. —36Kr
- AWOL Vision, a smart projection brand, has raised nearly RMB 100 million (USD 14.5 million) in its Series B round. Investors include Silicon Paradise, BizConf Technology, and Kinpard. The company will use the capital to advance R&D, build out its AI-driven entertainment platform ecosystem, expand global channels and branding, strengthen supply chain coordination, and recruit talent. —36Kr
- Dynaflow, an AI science infrastructure company, has completed a Series B+ round worth nearly RMB 100 million. The round was backed by the Beijing New Materials Industry Investment Fund, managed by Shunxi Fund, and a state-backed fund in Beijing’s Fengtai district. The company said it will use the proceeds for core technology upgrades, capacity expansion, and the joint buildout of a new materials contract research platform with Beijing University of Chemical Technology to accelerate the commercialization of AI-enabled R&D services. —36Kr
- SpinQ, a quantum computing company, has completed a Series C+ round worth RMB 600 million. The round drew support from Shenzhen Co-Stone Asset Management, Guotai Junan Innovation Investment, Caitong Capital, Sichuan Zhenxing, Chengdu’s Tianfu Investment, Addor Capital, and Hua Qiang Capital, among others. The company said it will use the fresh capital to further the industrialization of its quantum computing technologies. Including its Series C round completed three months earlier, SpinQ has raised nearly RMB 1 billion (USD 145.1 million) within one quarter. —36Kr
- Hengtron, a Jiangsu-based developer of lithium manganese iron phosphate cathode materials, has completed its Series B round, raising a nine-figure RMB sum. The round was backed by the Yinchuan Yucheng Phoenix Science and Technology Innovation Fund, while Daion Capital served as financial advisor. The company will use the funds to build out capacity in Yinchuan, where it plans a 130,000-ton annual LMFP (lithium manganese iron phosphate) cathode material production line, including a first-phase capacity of 30,000 tons, while also expanding its Yancheng base. —36Kr
Harvey, Amity, Tazapay, and others made recent headlines:
- Harvey, a legal infrastructure company, raised USD 200 million in a funding round co-led by returning investors GIC and Sequoia, at a valuation of USD 11 billion. Existing backers Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Evantic, and Kleiner Perkins also participated.
- Amity, an AI and software company founded in Thailand, raised USD 100 million in a Series D round led by EDBI, alongside Asia Partners and SMDV, with participation from existing and new investors including CMLIM Capital.
- Tazapay, a fintech firm, closed a Series B extension round led by Circle Ventures, bringing its total Series B funding to USD 36 million. New investors CMT Digital and Coinbase Ventures joined Circle Ventures, Peak XV Partners, GMO Venture Partners, and January Capital in the extension round.
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Note: RMB figures are converted to USD at rates of RMB 6.89 = USD 1 based on estimates as of April 6, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.