The many paths to an exit

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Hello reader,

Good news: After a long spell, the amount of funding raised by startups this week crossed the US$1 billion mark.

However, it’s worth noting that this number is thanks to one deal in particular: the acquisition of DustPhotonics, a fabless semiconductor manufacturer, by chip company Credo for a whopping US$750 million.

For me, this deal is a reminder that there are many paths to an exit, especially in the current business climate. Sure, we may not be seeing blockbuster IPOs and bell-ringing ceremonies, but these successful M&As are also indicators that a company has made a real impact – it’s built something that people want to pay for, and that’s great as well.

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.

— Stefanie

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The biggest deals by market

🇨🇳 Origincell is a biomedical startup focused on storage for biological samples. Based in China, it raised US$110 million in late-stage funding from Beijing Medical And Health Industry Investment Fund, Etown Capital, Lucion Venture Capital, Qiming Venture Partners, and Vivo Capital.

🇰🇷 Lunit is a Korean medical AI software company specializing in cancer screening and treatment It bagged US$21 million in series D money from Atinum Investment.

🇮🇳 GobbleCube is an AI-based revenue platform for brands. The Indian company raised US$15 million in series A funding from InfoEdge Ventures, Kae Capital, and Susquehanna Asia Venture Capital.

🇦🇺 Australia-based Haast uses AI to automate manual compliance workflows. Its series A round bagged US$12 million from Aura Ventures, Black Sheep Capital, DST Global Partner, and Peak XV Partners.

🇮🇩 Baskit, an Indonesian supply chain startup focused on offline trade, scored US$4.4 million in series A funding from Analog Ventures, Cento Ventures, Kaya Founders, and Orvel Ventures.

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