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,
The theme of this issue is backbones, and I don’t mean our spines, even though they are very important in both the physical and metaphorical sense. What I’m talking about is infrastructure.
Our top-funded startups are all in the business of infrastructure, whether it’s computing solutions for AI, logistics services, or energy provision. These things aren’t the shiny stuff that makes headlines; they’re the backbone that underpins so much of our digital economy and keeps it running. I’m glad that they’re getting the attention – and financial backing – they so deserve.
You can find all other important investment deals from the last few days in our weekly funding news wrap-up.
Let’s dive into the biggest deals and M&A that have recently taken place.
— Stefanie
The biggest deals by market
🇮🇱 DriveNets offers high-scale networking software designed for AI infrastructure and service providers. Based in Israel, which is located in West Asia, the firm has raised US$410 million in series C funding from AMD, Atreides Management, Bessemer Venture Partners, D1 Capital Partners, Pitango Venture Capital, and Red Dot Capital Partners.
🇦🇪 Based in the United Arab Emirates, CargoX is a logistics company that leverages intelligent driverless networks. It has secured US$250 million in early-stage funding from BlueFive Capital.
🇰🇷 Chip startup Xcena, which is headquartered in South Korea, has bagged US$135 million in a series B round. Participating investors included Atinum Investment, Company K Partners, Corstone Asia, DSC Investment, IMM Investment, K2 Investment Partners, KDB Bank, KDB Capital, Kiwoom Investment, Kolon Investment, LB Investment, Mirae Asset Capital, Mirae Asset Venture Investment, Partners Investment, Premier Partners, SBI Investment Korea, STIC Ventures, SV Investment, Shinhan Venture Investment, Wonik Investment Partners, and iProvest/Kyobo Securities.
🇮🇳 India-based electric vehicle startup Simple Energy has raised US$26.2 million in series B money from entrepreneur Arokiaswamy Velumani.
🇦🇺 Amber Electric is a dynamic energy provider offering real-time wholesale electricity pricing. Headquartered in Australia, it has raised US$9.8 million in series C funding from the Australian Renewable Energy Agency.
Here’s the complete list of this week’s funding chart: 51 deals worth over US$1.4 billion.
M&A
Put your startup in the spotlight
Behind the Glasswall
Join the drivers of Enterprise AI
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.
