AI & Biotech Funding Rounds: N2TP, Graas, K2, Aureka Deals

The artificial intelligence and biotechnology sectors continue to attract significant investment, with several companies announcing substantial funding rounds. In Vietnam, AI research firm N2TP has secured seed funding from Touchstone Partners. While the exact sum remains undisclosed, the capital injection is earmarked for bolstering its patent portfolio and enhancing its AI4Science platform's integration with automated laboratory systems. Founded in 2020, N2TP focuses on developing AI infrastructure tailored for scientific research, particularly in biomedicine and biotechnology, aiming to streamline processes from hypothesis generation to experimental design.

Meanwhile, Malaysia's VentureTech, a government-backed impact investor, has committed a total of MYR 28 million across three technology ventures led by Bumiputera entrepreneurs. This multi-company investment underscores Malaysia's commitment to fostering local tech innovation. The recipients include Move Robotic, which specializes in warehouse and logistics automation using autonomous mobile robots; Recove, a medical technology commercialization platform working to bring healthcare innovations like the noninvasive newborn jaundice screening device, Neorubin, to market; and Edote, developing assistive technology for the visually impaired, notably its eBrelle Braille laptop.

In Singapore, retail AI specialist Graas has successfully closed a USD 17 million Series B funding round. The round was led by LemmaTree, an investment firm established by Temasek, with participation from Integra Partners, Tin Men Capital, The Xander Group, Incred Wealth, and Orzon. Graas, founded in 2022, builds AI software that creates a "commerce knowledge graph" from disparate data sources to deploy AI agents for sales, inventory, and customer management. Coinciding with this financing, Graas announced the acquisition of Trustana, an AI-native product data platform, further strengthening its capabilities and expanding its reach across Australia, Southeast Asia, and the Gulf region.

The life sciences arena also saw major activity. K2 Therapeutics, a newly launched biotechnology firm with operations in Boston and Singapore, has secured USD 50 million in seed financing. The company was founded by MPM BioImpact, which also led the seed round. K2 Therapeutics aims to build a global portfolio of therapeutic assets, focusing on both preclinical and clinical programs, including antibody-drug conjugates and T-cell engagers. The funding will support portfolio expansion and the development of these promising drug candidates. The company also announced the appointment of Ying Huang as CEO, a veteran with prior experience at Legend Biotech.

Further bolstering the drug discovery space, Aureka Biotechnologies has raised USD 100 million in a Series B financing, bringing its total funding to nearly USD 200 million. The round saw exclusive funding for the initial tranche from Granite Asia, with a subsequent tranche led by an undisclosed investor. Highlight Capital also participated, alongside existing backers MPCi and NRL Capital. Aureka develops biological foundation models and experimental infrastructure for drug discovery, with its proprietary AuraIDE model supporting complex tasks like protein structure modeling and molecular generation. The capital infusion will drive research and development, including the training of next-generation models and enhancements to its Lab-in-the-Loop system.

Across Asia, other notable deals include Xinyangwei, an underwater sensing chip startup in China, which raised an eight-figure RMB sum in an angel round from K2VC and Yinfeng Capital. These diverse investments highlight a robust appetite for innovation across critical technology and life science verticals throughout the Asia-Pacific region.