Gobi Partners has led the Series A funding round of second-hand tech re-commerce startup CompAsia, while Singapore-based Solar AI technologies has closed a $1.5 million seed round.
Gobi leads investment in CompAsia
Gobi Partners, a pan-Asia venture capital (VC) firm, has led a Series A funding round in CompAsia, an integrated re-commerce platform startup, according to an announcement.
Since 2016, CompAsia has transformed itself into a one-stop platform that allows customers to trade in or purchase electronic devices.
The platform also offers financing plans and other options to address customer concerns about transparency when buying such goods.
Through the implementation of trade-in and resell programmes, the platform places a strong emphasis on affordability and extends the lifespan of electronic devices.
This round of funding will propel CompAsia’s expansion across various touchpoints, including bolstering human resources, training, and operational capabilities.
Additionally, it will be instrumental in optimising the firm’s digital assets and marketing strategies, with a specific focus on penetrating new markets like the Philippines, Thailand, and Indonesia.
Solar AI Technologies closes $1.5m seed round
Singapore-based startup Solar AI Technologies has closed a $1.5 million seed round led by Earth Venture Capital, according to an announcement.
Solar AI said that its seed round also saw participation from Undivided Ventures, Investible and climate-tech angel investor David Pardo.
The funds raised would primarily be used to upscale its “Rent-To-Own solar” programme within Singapore, before embarking on regional expansion in the next 12 months.
The Solar AI Rent-To-Own programme lets landed homeowners and small businesses own solar panels with no upfront costs by paying a flat monthly fee that covers installation, maintenance, and servicing, as well as an energy generation guarantee.
The company was founded in 2020 by Bolong Chew, Gérald Chablowski and Luke Ong.
Earth Venture Capital is a climate tech-focused VC firm, founded in 2021 and is headquartered in Ho Chi Minh City according to its LinkedIn profile. Among its portfolio companies are US-based advanced silicon battery materials company GROUP14, and ITC, an Israel-based company that builds Artificial Intelligence software to manage road traffic.