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Hello reader,
Just the other day, I was writing Tech in Asia’s daily newsletter and covering the story about Southeast Asian founders warming up to venture debt.
To summarize, venture debt is often an attractive option because founders can generally avoid giving up equity, on top of the fact that many VCs are stricter in their investment requirements these days due to the funding winter.
While I haven’t properly observed this phenomenon, the data doesn’t lie, and the article states that more founders prefer venture debt. As it so happens, one of the startups that snagged a position on our list of biggest deals by country this week took on venture debt. Can you guess which company it is?
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
🇦🇺 SafetyCulture is an Australian startup that provides workplace health and safety products. It has raised US$109.7 million in its latest funding round from AirTree Ventures, Blackbird Ventures, and Morpheus Fund.
🇮🇳 Indian adtech firm InMobi has secured US$100 million in debt funding from Mars Growth Capital.
🇨🇳 Ispace, a Chinese spacetech company, has raised US$98.8 million in its series C and C+ rounds. The funds were from Xin Ding Capital, Huizhu Capital, Jingming Capital, Qianlima, and Sichuan Industrial Revitalization Development Investment Fund.
🇰🇷 South Korean startup Spoon Labs, which develops content platforms, has secured US$90.1 million in strategic investment from Krafton.
M&As
Startups that are raising funds
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