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Hello reader,
When I first started writing for Tech in Asia, the phrase “data is the new oil” came up a lot. I’m sure something else has taken its place, but the phrase still holds true – you need data to get things done. Heck, even all the large language models dominating today’s conversations, such as Gemini and ChatGPT, needed data to get to where they are today.
So it’s pretty apt that the top 2 companies on this week’s list are in the business of data. One helps F&B establishments better understand their operations by connecting them with vendors and suppliers and offering insights to help increase efficiency, grow sales, and improve profitability. The other turns videos and images into “machine-readable intelligence,” also helping turn information into insights.
In a way, that’s what we do here at Tech in Asia too – we’re turning information into insights to help you navigate the current tech landscape.
And on that note, 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 recently took place.
— Stefanie
The biggest deals by market
🇦🇺 Ordermentum is an ordering, payments, and insights platform for bars and restaurants. Based in Australia, it has raised US$36 million in series B money from Five V Capital.
🇮🇱 Airis Labs transforms video and imagery into structured, machine-readable intelligence. Headquartered in Israel, which is located in West Asia, the company has bagged US$31 million in series B funding from PSG, RedSeed, StepStone Group, TLV Partners, McKinsey’s Israel senior partner David Chinn, Insight Venture Partners managing director Jeff Horing, and Israeli entrepreneurs Eyal Waldman and Yasmin Lukatz.
🇮🇳 Cyient Semiconductors is a chip company from India. It has secured US$20 million in a debt round from Nuvama Wealth, formerly known as Edelweiss Financial Services.
🇨🇳 SandStone is a provider of mass data storage and management solutions. Based in China, it has raised US$14.3 million in series D money from Fortune Capital and Futian Investment.
🇵🇭 Philippines-based fintech firm First Circle offers business banking solutions. It has raised US$4.9 million in debt from Cathay United Bank.
M&A
Startups that are raising funds
Behind the Glasswall
Exclusive listicles
Thoughtful reads
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