Daily Briefing: Razer's mask production line starts operations; Insurtech Axinan clinches Series A+ funding

And fund management firm Sistema Asia ties up with Russia’s state fund.

From CNA:

Gaming company Razer announced that its fully automated mask manufacturing line was now operational and has begun production.

Around 5 million masks a month can be produced and the manufacturing capacity "can be scaled up if required," said the firm in a media release. The mask production line was set up within 24 days of initiating the project.

Razer CEO Tan Min-Liang initially announced on 1 April that Razer had plans to set up the manufacturing line within 30 days.

In the media release, the company said it has been "actively contributing toward the fight against COVID-19," including donating up to 1 million face masks globally.

Read more here.

From DealStreetAsia:

Singapore-based insurtech startup Axinan has raised an undisclosed amount of funding in a Series A+ round led by InVent, the corporate venture arm of Thai-listed Intouch Holdings.

Axinan will change its company name to Igloo, the name of its flagship digital insurance product in Southeast Asia.

According to a statement, the total amount raised to date including the latest Series A+ round is $22.77m (US$16m). The fresh capital will be used to develop its tech capabilities, acquire license for market entry and hire talent.

The round was joined by Openspace Ventures, Linear Capital, Singtel Innov8, Cathay Innovation, and Partech Partners.

Read more here.

From e27:

Fund management company Sistema Asia has partnered with the Russian Venture Company (RVC), the state fund of funds and the institute for development of the Russian Federation venture market, in a memorandum of understanding (MoU), the company announced.

Under this two-year co-operation, RVC will collaborate with Sistema Asia in the commercialisation of advanced digital technology innovations.

The partnership will leverage Sistema Asia’s Sales Jet platform to expand market opportunities for Russian technology companies in Singapore and Asia. Meanwhile, RVC will assist Singapore-based companies seeking partnership opportunities within Russia’s technology ecosystem.

Sales Jet is a business development platform for advanced technology companies from Russia and Singapore that are looking to expand their business across Asia.

Read more here.