AI takes the backseat, for a change

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Hello reader,

Finally, a week when the top deal isn’t AI-focused!

I jest, but seriously, it’s nice to see investment interest in other sectors.

Sure, Airwallex, our top-funded company this week, uses AI. Most, if not all, companies are now employing the tech in some capacity – I mean, who doesn’t?

However, I think AI is a lot more interesting when it’s used as a tool, and we see how it’s applied to solve real problems instead of just being a company’s be-all and end-all.

Here’s to seeing the tech make a real impact across all industries!

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

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The biggest deals by market

Airwallex is a global payments and financial platform. Based in Australia, it has raised US$330 million in a series G round from Addition, T. Rowe Price, and Robinhood Ventures.

D3 Bio is a Chinese biotech company that focuses on oncology and immunology. It has secured US$108 million in series B money from IDG Capital, Matrix Partners China, SongQing Capital, WuXi AppTec, Temasek Holdings, Medicxi, and HongShan.

Israel-based Duve runs a platform that streamlines hotel operations. It has bagged US$60 million in series B money from Susquehanna Growth Equity and XT Venture Capital, among others.

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