Welcome to Tech in Asia’s free Saturday VC newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by registering here.
Hello reader,
You know that popular meme of a cartoon dog sitting on a chair surrounded by flames, saying “This is fine”? Well, that dog was me this morning as I looked at the funding data for the week.
In all the years that I’ve been with the team that writes this newsletter, this is probably the slowest week I’ve seen – just 17 deals on record. China was off celebrating its Golden Week holiday, so no major deals were closed from that market. But it’s worrisome, especially when you look at funding trends in Southeast Asia over the past few years.
Still, it’s not all doom and gloom. I’m pretty heartened by the fact that two of the companies on our list of biggest deals are in the healthtech sector, leveraging AI and other technologies to improve patient care and make medical care more efficient. The bottomline is, if you’ve got real solutions that are solving real problems, I have faith that you’ll find a way, funding winter or not.
This is fine – really. We’ve got this.
You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.
Let’s dive into the biggest deals that recently took place.
— Stefanie
The biggest deals by market
🇮🇳 Raise Financial is a money management platform based in India. It bagged US$120 million in series B funding from Beenext, DSP Family Office, Hornbill Capital, JM Financial, MUFG, Aashish Somaiyaa, and Ramesh Damani.
🇸🇬 Supabase, a Singapore-based company offering a Postgres development platform, has raised US$100 million in series E money from Accel Partners, Figma Ventures, and Peak XV Partners.
🇦🇺 Heidi Health is an Australian provider of AI-powered medical scribe services. It raised US$65 million in a series B round from Blackbird, Headline Asia, LocalGlobe, and Point72 Ventures.
🇯🇵 Japan-based Z-Works offers AI and IoT solutions to resolve issues in the medical and nursing care industry. It secured US$4.9 million from Daiwa Corporate Investment and Keio Innovation Initiative via a series D fundraise.
Startups that are raising funds
Behind the Glasswall
Exclusive listicles
Thoughtful reads
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
