Deals in brief: Chocolate Finance raises Series A+ funding, Gobi Partners backs NanoSkunkWorkX, latest China deals, and more

Chocolate Finance raises USD 15 million to support Hong Kong entry and product expansion

Chocolate Finance, a Singapore-based fintech company offering cash management and payment solutions, has raised USD 15 million in a Series A+ funding round. The round was led by Nikko Asset Management, with participation from returning investors Peak XV Partners, Prosus, Saison Capital, and founder Walter de Oude.

Launched in July 2024, Chocolate Finance provides a platform that allows users to earn daily returns on idle cash in SGD and USD. The service includes a linked Visa card and flexible, no-lock-in features. The company said it manages nearly SGD 900 million (USD 693.5 million) in assets and has delivered over SGD 22 million (USD 17 million) in returns to date.

Proceeds from the funding will support Chocolate Finance’s regional expansion, starting with a newly approved license in Hong Kong, and to accelerate product development as the company moves toward a full-service digital banking offering.

Gobi Partners backs NanoSkunkWorkX to scale graphene-enabled industrial tech

NanoSkunkWorkX (nSWX), a Malaysian deep tech startup, has received an undisclosed investment from Gobi Partners through the Gobi Dana Impak Ventures (GDIV) fund.

The capital will support nSWX’s development of an electrochemical platform that integrates graphene into industrial materials to improve thermal, electrical, and catalytic performance across various sectors such as semiconductors.

The startup is presently working with national research institutes and global partners on solutions including biosensor diagnostics and modular hydrogen systems. The investment supports Malaysia’s strategy to build sovereign capabilities in advanced manufacturing and aligns with GDIV’s mission to back globally competitive, homegrown innovation.

Hydroleap raises USD 4.75 million to scale across data centers and industrial clients

Hydroleap, a water tech company based in Singapore, has raised USD 4.75 million in a new funding round led by EDBI (via SG Growth Capital), with participation from Enterprise Singapore, Antares Ventures, and Woh Hup. This brings the company’s total funding to nearly USD 12 million.

Hydroleap develops electrochemical water treatment systems that eliminate the use of chemicals. Its technology enables industrial clients to recycle wastewater and reduce energy consumption by up to 10%.

The funding will support the company’s expansion across hyperscale data centers and sectors such as pharmaceuticals, semiconductors, and agriculture in the Asia Pacific region. Hydroleap also plans to grow its presence through local hiring and targeted deployment.

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