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Hello reader,
After four back-to-back weeks of traveling – spending some of it on course in New York, visiting family in Dallas, and going to our company offsite in Bali – I feel exhausted.
I spent almost every night out sightseeing, eating, and drinking, and the moment I touched down in Singapore, I felt the tiredness hit me all at once like a truck.
I’d imagine that’s how a lot of founders feel right now – maybe not physically, but after back-to-back years of weathering black swan events, feeling anxious over revenue numbers, and seeing their runways dwindle in size, I wouldn’t be surprised if they were fatigued beyond compare.
Despite the fatigue, it seems some startups are still seeing the money flowing in. This week, 78 firms raised a total of over US$1.2 billion in funding across Asia. Let’s hope we see that number keep growing.
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
🇮🇩 Dana Indonesia: The Indonesian fintech startup bagged US$250 million in a bridge round from Sinar Mas Group. Ecommerce major Lazada also bought around 4.8 million Dana shares worth US$304.5 million from Emtek, one of the fintech firm’s existing investors.
🇮🇳 UpGrad: The Indian edtech platform secured US$210 million in late-stage funding from Artian Investments, Bharti Enterprises, Bodhi Tree Systems, Educational Testing Service, IIFL Finance, International Finance Corporation, Kaizenvest, Narotam Sekhsaria Family Office, and Temasek Holdings.
🇨🇳 Geek+: The China-based AI firm received US$100 million in series E money from Intel Capital, Qingyue Capital, and Vertex Ventures.
M&A
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