Daily Update: ECARX Acquires Flyme; ChemT Raises $4M; H3 Zoom Secures $3.6M; Novva Expands in Colombia; Avance Clinical Grows APAC Presence; Acorn Buys B Online; J-Elephant Gains Geek+ Backing; Lion Group Eyes Aquila Hash

ECARX TO ACQUIRE CHINA-BASED FLYME SOFTWARE BUSINESS FOR US$266 MILLION

ECARX Holdings, a global supplier of intelligent automotive computing and software solutions, Monday said it has entered into a definitive agreement to acquire the entire Flyme software business portfolio, comprising Flyme Auto, an in-vehicle cockpit operating system, and a cross-device Flyme operating system.

This will be implemented by acquiring 100% of the equity interest in a new entity carved out from DreamSmart Group, Hubei Qiguang Technology, from its three selling shareholders, for an aggregate total transaction consideration of RMB1.8 billion (approximately US$266 million)

The acquisition will be structured as a clean carve-out from DreamSmart Group, the acquired Entity is expected to obtain ownership of the entire Flyme business portfolio, comprising Flyme Auto and Flyme OS. 

The selling parties comprise Wuhan Xingji Meizu Technology Co., Ltd., Zhuhai Meizu Technology Co., Ltd., and Hubei Xingji Meizu Group Co., Ltd.

An independent valuation as of May 31, 2026 determined the acquired Entity’s equity value at RMB1.824 billion, with the transaction consideration comprising RMB1.8 billion (approximately US$266 million) for full equity purchase. 

The target software platform has achieved profitability in 2026 on management accounts, underpinned by rising revenue from software licensing, custom development and intelligent cockpit system deliveries.

The global in-car intelligence market represents a massive, fast-growing total addressable market, as automakers migrate from simple smartphone mirroring solutions toward embedded native operating systems that offer deeper hardware integration and AI capabilities. The Flyme full-stack OS positions ECARX to capture a significantly larger share of this long-term growth opportunity by offering a proprietary, end-to-end software architecture.

The transaction is expected to be funded via a balanced mix of approximately 70% syndicated bank loans from Chinese commercial banks on market terms and with a 10-year maturity; and approximately 30% from internal sources including offset of certain existing loans to DreamSmart. 

Payment will follow a two-phase schedule: 30% of the consideration due within 30 days after signing, with the remaining 70% payable within 30 days after completion of equity transfer. 

After closing ECARX will support the Acquired Entity with a RMB200 million capital injection to support operations. Closing remains subject to standard preconditions, including satisfactory financial, legal and technical due diligence, full IP transfer, core talent retention and no material adverse change events.

Ziyu Shen, Founder and CEO of ECARX Holdings Inc commented:  “Securing the rights to the full Flyme software stack is a defining moment for ECARX’s software-defined vehicle vision. This acquisition aligns our hardware and software roadmaps, and delivers a proprietary end-to-end operating system to sharpen our competitive positioning with global OEMs. Flyme’s proven cross-device ecosystem and proven mass-production footprint will unlock substantial sustainable new revenue streams through software licensing, integration services and connected car ecosystem monetization.”

Upon completion, ECARX will operate Flyme as an independent software division, preserving R&D continuity and ensuring seamless transition for existing customers. Existing operators of Flyme OS will continue to receive updates for the foreseeable future, with user data remaining in each individual operator’s ownership. ECARX and the Flyme team will jointly advance integrated vehicle-to-mobile intelligent experiences while scaling cockpit software licensing to global automotive partners.

CHEMT BIOTECHNOLOGY RAISES US$4 MILLION TO BRING AI TO BIOMANUFACTURING

ChemT Biotechnology, Singapore-based AI-driven biotechnology company building the intelligence layer for biomanufacturing, has closed a US$4 million seed round led by Wavemaker Ventures, the early-stage fund of Wavemaker Partners, with participation from co-investment partner SEEDS, an arm of SG Growth Capital, the investment platform of EDB and Enterprise Singapore. 

The round was further supported by notable investors across the United States and Asia, including Wavemaker 360 Health, Draper University Ventures, and Temasek Life Sciences Accelerator.

“This financing is a strong validation of our team, our technology, and our mission during a difficult funding environment for life sciences,” said Jie Sun, co-founder and CEO of ChemT Biotechnology. “Within roughly a year and half of launch, we’ve built commercial partnerships with more than 40 pharmaceutical, biotech, and CDMO companies across the globe. The future of biomanufacturing will not be won by automation alone — it will require intelligence.”

The financing will support the continued expansion of ChemT’s AI and experimental infrastructure, advancement of its AI-designed molecular products toward GMP standards and regulatory readiness, scaling of commercial partnerships, and further development of CelMo™. ChemT plans to expand the platform beyond CHO cells and T cells into other cellular systems, including stem cells, NK cells (Natural Killer cells, used in next-generation cancer immunotherapies), and HEK cells (Human Embryonic Kidney cells, widely used in gene therapy and biologics production), enabling broader intelligent control across biomanufacturing workflows.

“Our customers come to us because they are stuck – development timelines stretch for years, processes break when you try to scale them,” said Dr. Ling Wu, co-founder and President of ChemT Biotechnology. “CelMo™ is the cellular world model to understand what’s happening inside their cells and intervene intelligently. Our goal is to help make advanced medicines easier to manufacture, scale, and deliver to patients worldwide.”

“Biomanufacturing has long been constrained by structural bottlenecks, rooted in the lack of computational understanding of how cellular networks behave inside bioreactors. ChemT addresses this through precision small molecules that modulate cellular behavior — giving manufacturers a new lever for faster, cheaper, and higher-yield production with consistent quality,” said Paul Santos, Co-founder and Managing Partner of Wavemaker Partners. “We look forward to working with ChemT’s founding team, which brings together technical and commercial depth, scientific credibility, world-class bioprocess leadership, and capital efficiency — a rare combination that has already drawn early commercial partnerships from all over the world.”

SINGAPORE-BASED H3 ZOOM CLOSES US$3.6 MILLION SERIES A ROUND TO SCALE AI-POWERED INSPECTION INTELLIGENCE ACROSS ASIA

H3 Zoom, a Singapore-based deep tech company specialising in AI-powered inspection and asset intelligence for the built environment and critical infrastructure, Monday said it has closed its US$3.6 million Series A funding round.

The round was led by JRE VENTURES, the corporate venture capital arm of East Japan Railway Company, with participation from SGInnovate and M7 Holdings. Following its earlier first close of US$1.8 million, H3 Zoom subsequently secured additional investment through an AngelCentral member-led syndication via AC S525, bringing the round to US$2.1 million. The company has now completed its final close with further participation from Moringa Ventures and Lotus One Investment, bringing total Series A funding to US$3.6 million.

The funding will support H3 Zoom’s continued expansion across Asia, with a focus on Japan, Hong Kong SAR, Singapore and Southeast Asia. It will also be used to accelerate product development, strengthen engineering capabilities, deepen enterprise go-to-market execution, and expand integrations across the building and infrastructure lifecycle.

“This oversubscribed Series A close is a strong validation of H3 Zoom’s mission to turn building and infrastructure data into actionable intelligence,” said Shaun Koo, CEO & Founder of H3 Zoom. “We are grateful for the continued support from JRE VENTURES, SGInnovate and M7 Holdings, and for the backing from AngelCentral’s member-led syndicate via AC S525. We are also pleased to welcome Moringa Ventures and Lotus One Investment as new partners in this next phase of growth. With this capital, we will accelerate our AI roadmap, deepen enterprise integrations, and scale across key Asian markets where infrastructure safety, asset resilience and inspection productivity are becoming increasingly important.”

“H3 Zoom embodies the next generation of social infrastructure transformation through the power of AI. For the JR East Group, ensuring the safe and sustainable operation of diverse assets, including railways, stations, commercial facilities and hotels, is a shared priority across our businesses. H3 Zoom’s technology directly contributes to addressing these challenges. Through this investment, we aim to accelerate H3 Zoom’s business expansion and proof-of-concept activities in the Japanese market, while exploring broader collaboration opportunities across Southeast Asia. We strongly believe that H3 Zoom’s data-driven approach to infrastructure management will play a vital role in building a safer and more sustainable society,” said Junichi Eto, Managing Director, JRE VENTURES.

“SGInnovate is committed to supporting Singapore-based deep tech startups as they scale beyond our shores. H3 Zoom is a strong example of how AI-powered innovations can address critical global challenges in infrastructure safety, resilience and sustainability. We are excited to back their journey as they expand into new markets and continue to strengthen their technological capabilities,” said Hsien-Hui Tong, Executive Director – Investments, SGInnovate.

“Shaun’s vision to transform the entire building lifecycle into a more sustainable, efficient and safer process aligns with M7’s goal to support companies and founders that create sustainable solutions for some of the world’s most pressing problems,” said Anthony Manna, Chairman, M7 Holdings.

“I was not only impressed by the concept, but most of all by the traction the company had already,” said Marnix Beugel, AngelCentral syndicate lead for H3 Zoom. “H3 Zoom has demonstrated strong customer traction, repeat-business potential and regional growth momentum, supported by a leadership team that has adapted and refined its strategy to meet real market needs.”

“H3 Zoom sits at the intersection of AI and critical infrastructure. As asset owners increasingly seek safer, more efficient and more scalable inspection solutions, we believe the company is well positioned to become a category leader in inspection intelligence,” said Zoe Yuan, Investment Director, Lotus One Investment.

“As infrastructure across the world’s-built environment ages and labor constraints intensify, asset owners are increasingly seeking technologies that improve safety, efficiency and decision-making at scale. H3 Zoom is building the intelligence layer for infrastructure by combining AI, computer vision and operational workflows that help owners unlock more value from their assets over time. At Moringa Ventures, we invest in deep technologies that provide game-changing solutions to the world’s most challenging problems, and we are excited to support H3 Zoom as it scales across the region,” said Theodora Lai, Partner & Co-Founder, Moringa Ventures.

With the Series A round completed, H3 Zoom will accelerate software and Service-as-Software growth across Japan, Hong Kong SAR, Singapore and Southeast Asia.

The company will also fast-track its AI roadmap, including the development of its AI Engineering Co-Pilot, multimodal inspection workflows combining 360° imagery and voice notes, enterprise-grade APIs, and robotics-assisted inspection capabilities designed to help surface asset issues faster, more safely and more consistently for engineering review.

NOVVA GROUP ACQUIRES COLOMBIAN SOLAR PORTFOLIO FROM ABO ENERGY

NOVVA Group, a global AI-enabling energy infrastructure platform based in Southeast Asia, Monday said it has signed a definitive agreement to acquire a Colombian solar portfolio from German renewables developer ABO Energy, marking a milestone in its Latin American expansion.

The portfolio comprises three advanced-stage solar projects with a combined installed capacity of 37.8 MWac. Located in the Andean highlands of central Colombia, the projects benefit from strong solar irradiation, secured grid connection approvals, and long-term land lease agreements. Commercial operation is targeted for early 2028, delivering clean, reliable power to the country’s key economic and growth centres.

Colombia’s accelerating digital transformation and industrial modernisation are driving sustained demand for clean power. Under the government’s 2024–2031 National AI Roadmap, AI adoption is targeted across 50% of enterprises and public-sector institutions — underscoring the long-term need for the infrastructure Novva delivers.

“Colombia is exactly the kind of market Novva is built to serve. By combining specialised financing with global delivery expertise, we are accelerating the local energy transition and laying the green power foundation that tomorrow’s digital economy and high-growth industries will rely on,” said Steven Liu, Founder and CEO of Novva.

“We are delighted to partner with Novva to advance these high-quality assets. Their financing and execution capabilities make them an ideal partner to take the projects forward, driving local growth and accelerating Colombia’s clean energy transition,” said Ingo Burdack-Debes, General Manager at ABO Energy.

Following the recent acquisition of the 120 MWp solar project in the Philippines, this transaction further strengthens Novva’s capability to deploy bankable infrastructure across high-potential emerging markets.

AVANCE CLINICAL EXPANDS PRESENCE IN THE ASIA-PACIFIC REGION AND MAINLAND CHINA

Avance Clinical, an Australia-based global biotechnology contract research organization (CRO), Monday said it is expanding its Asia Pacific and China operations.

This expansion further broadens Avance Clinical’s existing footprint in Asia. Previously operating in South Korea and Taiwan, the company now has a presence in Singapore and Malaysia, where it is actively building dedicated clinical operations teams. 

Simultaneously, Avance Clinical is further expanding into the Chinese mainland market, establishing business operations teams in Shanghai and Beijing to support the country’s rapidly developing biotechnology innovation cluster. 

In India, Avance Clinical has established a business presence and biostatistics center and is continuously expanding its clinical operations capabilities to meet growing market demand.

Mark Harvill, CEO of Avance Clinical, stated, “This expansion underscores the growing strategic importance of the Asia Pacific and China markets to our global biotech clients. Biotech companies in the US and globally are increasingly recognizing the Asia Pacific region as a high-value market for clinical development—offering significant advantages in patient recruitment, trial diversity, and the speed of advancing key research milestones. With our localized teams in South Korea, Taiwan, Singapore, Malaysia, India, and now mainland China, we are able to provide an integrated, seamless project delivery model that many CROs struggle to match.”

This initiative enables Avance Clinical to serve as the single responsible partner for clinical trials across multiple Asian countries, leveraging its regulatory compliance expertise, research center network, and robust operational infrastructure to deliver high-quality data that meets global standards.

Jessica Han, Head of Asia Operations at Avance Clinical , leads regional strategy from the company’s Seoul, South Korea office and has over 18 years of experience in global and regional CRO clinical research. Han stated, “The Asia-Pacific region is home to several highly mature biotech ecosystems, each with its own unique regulatory framework, patient population, and clinical infrastructure. Our expansion into Singapore and Malaysia allows us to access established clinical trial clusters there, complementing our existing strengths in South Korea and Taiwan. Meanwhile, our presence in mainland China means we can now directly access the world’s fastest-growing biotech market. For US biotech companies, this provides unprecedented flexibility in designing and executing their global R&D projects.”

J-ELEPHANT RAISES STRATEGIC INVESTMENT FROM GEEK+, EXPANDING PARTNERSHIP IN PALLET WAREHOUSE AUTOMATION

 J-Elephant, a player in vertical pallet robot technology, Monday said it has received a strategic investment from Geek+, a global player in warehouse robotics, and entered into a strategic partnership to accelerate the adoption of pallet warehouse automation worldwide. 

The partnership brings together two complementary players in the global smart logistics sector. J-Elephant will tap into Geek+’s worldwide sales, deployment, and service network to accelerate product deployment and overseas growth. 

In turn, Geek+ will fold J-Elephant’s VPR technology into its offerings, addressing growing demand for low-infrastructure pallet warehouse automation while strengthening its competitiveness across a broader range of warehouse applications.

Through this partnership, J-Elephant gains immediate access to Geek+’s established sales, delivery, and service and support network across more than 40 countries. 

“This collaboration marks a strategic shift for China’s warehouse automation industry from simply exporting products to exporting an entire ecosystem—strengthening the global position of Chinese intelligent robotics within the broader logistics supply chain,” the company said.

ACORN ACQUIRES B ONLINE LEARNING TO CLOSE THE GAP BETWEEN LEARNING INVESTMENT AND WORKFORCE READINESS

Acorn, the skills and development platform, Monday said it is acquiring B Online Learning, an elearning design and development provider in Australia and New Zealand.

The 2026 State of Learning for AI Fluency Report shows that 77% of organizations still treat course completion as proof that skills exist. Mercer research reports that 79% of executives identify better insight into their people’s capabilities as the essential unlock for outsized business performance. As HR and talent leaders face pressure to demonstrate workforce readiness, the chasm between those two findings is where organizations are losing ground. Workforce readiness is not a training completion rate. It is the gap between the skills an organization needs to perform and the skills it can prove its people have right now.

“Organizations aren’t struggling to find content. They are struggling to show that content is building the capabilities their workforce needs. Acorn treats the development plan as the engine: career goal to skills gap to learning action to proof of capability.” said Blake Proberts, CEO and Co-Founder of Acorn. “B Online Learning builds content for organizations that can’t afford to guess whether learning worked. Put that inside a platform designed to measure exactly that, and proof it’s working stops being the hardest part.”

The acquisition follows Acorn’s expansion into global markets and directly strengthens the platform’s position for HR leaders, talent management teams, and L&D administrators in organizations where workforce readiness is a measurable business outcome. The organizations getting this right are finding that the people they already have, with the right skills infrastructure behind them, are their best answer to roles they thought they needed to hire for. Acorn holds a top-trending ranking in G2’s Skills Management category.

“For 20 years, B Online Learning has designed eLearning content, trained Australia and New Zealand’s L&D teams to build it themselves, and delivered learning solutions for some of the region’s most respected organizations,” said Beck Verity, Co-Founder of B Online Learning. “Acorn shares our belief in giving teams what they need to do the work themselves. Together we can offer customers the full stack: the training, the tools, and the platform to deliver learning that shows up in what people can actually do.”

SINGAPORE’S LION GROUP SIGNS NON-BINDING MOU TO ACQUIRE AQUILA HASH

Singapore-based Lion Group Holding Friday said it has entered into a non-binding memorandum of understanding with Aquila Hash, a U.S.-headquartered global AI infrastructure platform company, to acquire 100% of the issued and outstanding capital stock of Aquila Hash for consideration to be determined in definitive agreements.

Under the proposed transaction, Lion Group aims to acquire Aquila Hash, a company which focusses on developing and operating AI Factories, GPU cloud platforms, and AI-native services. 

Aquila Hash provides end-to-end AI infrastructure solutions, including data center fit-out and deployment, global supply chain services, GPU cluster integration, and operations management. It has a footprint across North America, Asia-Pacific, and Europe, supporting large-scale AI infrastructure projects for hyperscalers and enterprises.

This strategic acquisition aligns with Lion Group’s vision to strengthen its presence in the rapidly growing AI infrastructure sector, capitalizing on the explosive demand for high-performance computing capacity driven by AI adoption worldwide.

“We are pleased to enter into this MOU with Lion Group and explore the potential for a strategic combination,” said Bin Yang, Co-Founder and Chief Executive Officer of Aquila Hash.

“As global demand for AI infrastructure continues to accelerate, access to capital, strategic resources, and scalable operating platforms will become increasingly important to supporting the next phase of growth. We believe Lion Group’s public company platform, capital markets expertise, and financing capabilities could create meaningful opportunities to accelerate our expansion, strengthen our ability to execute larger-scale AI infrastructure projects, and further advance our vision of building the foundational infrastructure layer for the next generation of artificial intelligence. We look forward to working closely with Lion Group to evaluate the potential strategic benefits and long-term value creation opportunities for both organizations.”