What is essential is invincible against the funding winter

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Hello reader,

When three of the top funding deals this past week hit US$200 million and above, it’s sometimes hard to fathom that we’re in a funding and tech winter. If you take a closer look, though, you’ll see that some of the deals involve the edtech and energy industries – these speak to their indispensability in our lives.

Like I’ve written before in another newsletter, if I ever put up my own company, it’ll be in a field that addresses the real needs of human beings such as food, sustainability, education.

But of course, I’m only musing – just let me enjoy feeling right for once.

Image credit: Timmy Loen

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 and M&As that recently took place.

The biggest deals by country

🇮🇳 Byju’s: The Indian edtech firm raised US$250 million from the Qatar Investment Authority, the sovereign wealth fund of the state of Qatar. The capital infusion came just days after the company announced that it was laying off 2,500 employees or 5% of its total workforce.

🇨🇳 Hithium Energy Storage: The Chinese firm, which specializes in lithium-ion battery core materials, has closed a US$227.9 million series B funding round. Investors include Chengtun Mining Group, FengHe Group, and Matrix Partners China, among others.

🇰🇷 Balaan: Based in South Korea, the online luxury boutique bagged US$200 million in series C funding from Shinhan Capital, DAOL Investment, and Company K Partners.

🇮🇩 Sociolla: The Indonesia-based beauty startup received over US$60 million in an investment round led by Temasek and L Catterton. Existing backers such as East Ventures and Jungle Ventures also participated in the fundraise.

M&A’S

Startups that are raising funds

Killer pitch decks

Exclusive listicles

Thoughtful reads