Deals in brief: Vietnam’s Tevo secures non-dilutive financing, N&E Innovations raises Series A funding, eight China investments, and more

Tevo's USD 10 million non-dilutive financing from PvX Partners is a significant win for its AI-native app portfolio. This structure allows the Vietnamese company to scale user acquisition without equity dilution. It preserves ownership for founder Thanh Luu while funding expansion and marketing for its 45 apps. The focus on AI-native product features shows a clear strategy to deepen its tech advantage.

N&E Innovations' USD 1.7 million Series A round reflects growing interest in sustainable biotech. Its Vikang99 ingredient, derived from upcycled cashew husks, addresses food waste. This directly benefits Singapore's food security goals and extends shelf life for partners like Singapore Airlines. The investment supports N&E's expansion into antimicrobial packaging and plant-based cleaning products, a clear market need.

Lightsage's USD 4 million raise for "agent-led growth" infrastructure points to a critical emerging need for AI software. As AI agents increasingly interact with software, understanding their usage patterns becomes essential. The company's focus on evaluating agent performance across APIs and SDKs will be crucial. The test for Lightsage is its ability to move beyond developer tools and serve broader B2B software needs as AI agent adoption grows.