Eco-materials firm Zence Object Technology has secured a strategic funding of 10 million yuan ($1.4 million) from AB Global Opportunities LPF, a fund under Hong Kong-listed construction services provider AB Builders Group; and Asia-focused venture capital firm Gobi Partners.
The deal was closed at the end of last year, according to a company release. The investment comes alongside a memorandum of understanding (MoU) to accelerate Zence Object’s overseas expansion, R&D, and marketing promotion of its flagship eco-materials project CHAZENCE.
As part of the MoU, AB Builders Group has placed a 30 million yuan ($4.1 million) purchase order with ZENCE OBJECT to drive innovation in green technology development. The construction service provider will also incorporate Zence Object’s eco-materials into its large-scale infrastructure and construction projects, per the release.
Post-financing, the now Hong Kong-headquartered firm eyes to scale its operations across Asia and the US.
Founded in 2020, Zence Object provides a waster upcycling platform that combines carbon data analytics, biotechnology, and industry-specific applications to advance circular economy. The firm also offers carbon footprint assessment, carbon trading, and consulting services.
In August 2023, the firm secured $2.5 million in a seed funding round from the AEF Greater Bay Area Fund (AEF GBA), which is managed by Gobi Partners GBA, making it the first Macau-originated to secure funding from AEF GBA.
CHINA DEAL MONITOR
DealStreetAsia has also compiled a table listing all prominent venture capital transactions in Greater China from April 7 – 13, 2025.
| Startup | Headquarters | Investment size (Million USD) | Investment stage | Lead investor(s) | Other investor(s) | Industry/Sector | Vertical |
|---|---|---|---|---|---|---|---|
| Yuewei Medical | Beijing | 1.5* | A++ | Beijing Pharmaceutical and Healthcare Industry Investment Fund | Medical Devices & Equipment | N/A | |
| Mitoch Therapeutics | Shanghai | 1.5 | Pre-A | Triwise Capital | Biotech | Pet Technology | |
| Cytoship | Chengdu | 1.5* | Angel+ | CAS Star | Biotech | Biotech | |
| MG Power | Jiaxing | 1.5* | CUFE Rising Union, Hefei Innovation Investment | Energy Storage & Batteries | N/A | ||
| Grand Hitek | Beijing | 68 | Beijing New Materials Industry Investment Fund | Real Power Capital, Mirae Asset, Fortune Capital | Semiconductor | N/A | |
| Yinghe | Shanghai | 14 | A | Marathon Venture Partners | Dingrun Jiade, Kezhi Chuangan | Healthcare IT | HealthTech |
| Lynmou | Hangzhou | 1.5* | A | Unity Ventures | Chengshu Fenghua, Haibang Fenghua | Medical Devices & Equipment | N/A |
| BWI Group | Shenzhen | 68 | Shenzhen New Energy Automobile Industry Fund | Automobiles & Parts | Electric/Hybrid Vehicles | ||
| Linkerbot | Beijing | 14 | Seed | HongShan Seed Fund (previously Sequoia China Seed Fund), Wankai New Material | Leaguer Capital, Leaguer Financial, Huacang Capital, Anyu Capital | Business Support Services | Robotics & Drones |
| Boundary.AI | Shenzhen | 6.8 | A+ | Addor Capital | Xuhui Kechuangtou Innolink Fund, Honghui Investment Holding | Aerospace | Robotics & Drones |
| Chong Hui | Shenzhen | B | Shang Qi Capital (affiliated with SAIC Motor Corp), Yuecai Holdings | Huahong Hongxin, Qixin Yuanquan | Semiconductor | N/A | |
| Lingyun Zhikuang | Hong Kong | Seed | Lighthouse Incubator | Mining | AI and Machine Learning | ||
| Axera Semiconductor | Beijing | 136.3 | C | Chongqing Industry Investment Fund-of-Fund, Chongqing Liangjiang Fund, Ningbo Tongshang Fund, Zhenhai Industrial Investment, Oriza Hua (affiliated with Oriza Holding), Weihao Chuangxin Investment Management | Semiconductor | AI and Machine Learning | |
| Lumos Robotics | Shenzhen | 14 | Angel, Angel+ | Angel+: Puhua Capital, Gao Bingqiang (Individual Investor), Peak Patience Capital, Angel: Innoangel Fund, Sense Capital (affiliated with SenseTime), Plum Ventures | Business Support Services | Robotics & Drones | |
| Yueshi Robot | Shenzhen | B | China Co-op Group, Hengjian Holding, Guang Ken Tai Zheng Private Equity Fund, Guangdong Agribusiness Group Corporation, Industrial Development in Guizhou Province, Jiangsu Province Government Fund, DNE Group, CCS, COFCO Corporation | Logistics & Distribution | Robotics & Drones | ||
| Astribot | Shenzhen | 14* | A, A+ | Jinqiu Capital, Ant Group | Yunqi Partners, Dalton Venture | Consumer Products | Robotics & Drones |
| Nuwacell | Hefei | 32 | B | Guangyao Capital, Nanshan Financial Holding, Hefei Industry Investment Holding, Lotus Capital | Biotech | Biotech | |
| Tauren | Shanghai | 1.5* | D+ | Great Filter Venture, Fujian Electronic Information Industry Investment | Semiconductor | N/A | |
| Noematrix | Shanghai | 14* | Pre-A++ | Sharewin Capital, Zero2IPO Venture Capital, Vision Knight Capital, Yunqi Partners, Shanghai Sci-tech Innovation Center Capital , Prosperity7, HongShan (previously Sequoia Capital China), Shanghai Xiaomiao Langcheng Investment Management, Plug and Play China | Business Support Services | AI and Machine Learning | |
| ForVision Intelligent Technology | Suzhou | 1.5* | A | Addor Capital, Zero2IPO Industry Investment | Automobiles & Parts | Electric/Hybrid Vehicles | |
| iRegene | Wuhan | 27.2 | B+ | Fontus Capital | Lotus Lake Capital | Pharmaceutical | N/A |
| Yixi Technology Development | Shanghai | 14 | Angel+ | Furong Qingyun Investment Fund (affiliated with Research Institute of Fudan University in Ningbo) | Kunshan Hi-Tech Zone Investment, Fudao Lecheng, Minxing Jintou | Materials | N/A |
| Zilion New Material Technology | Xi'an | 1.5* | A+ | Xingrui Capital | Semiconductor | N/A | |
| Zence Object Technology | Hong Kong | 1.4 | AB Builders, Gobi China | Environmental Services | N/A | ||
| eCloud Data Master | Nanjing | 1.5* | C1 | Software | N/A | ||
| Wemass Medical | Nanjing | 1.5* | Angel | Oriza Seed, Noah Capital | Nanjing Jiangbei Ketou | Medical Devices & Equipment | N/A |
*The company did not provide the specific size of the deal but only a range. In such cases, we adopt the smallest number in the range, which will be “10 million yuan ($1.5 million)” if the company has announced raising “tens of millions of Chinese yuan”.
