An unlikely power trio

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Hello reader,

I noticed something while following the US elections a few months ago. As Donald Trump discussed imposing sweeping tariffs, many of his supporters seemed to either think he was just making empty threats – to potentially strong-arm trade negotiations – or not fully understand how tariffs work.

Well, it appears Trump has unfortunately followed through, enforcing tariff after tariff and sending markets tumbling. In response, there have been reports that the trade ministers of China, Japan, and South Korea agreed to speed up talks of a free trade agreement deal between the three countries.

You know the situation is bad when these nations set aside their complicated histories and start working together. Interestingly, three of today’s top 5 deals come from this trio.

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 that recently took place.

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The biggest deals by country

🇮🇳 Spinny, an India-based online platform for used car buyers, has raised US$131 million in a funding round led by Accel Partners. Participating investors included Nandan Nilekani’s Fundamentum.

🇨🇳 Chinese robot developer Spirit AI has scored US$72.3 million in pre-series A money from China Merchants Venture Capital, GF Xinde Investment Management, Oriental Fortune Capital, and Prosperity7 Ventures, among others.

🇰🇷 Wrtn Technologies is a South Korean startup that developed an AI-powered writing tool. It has secured US$73.5 million in series B money from Goodwater Capital, BRV Capital Management, Capstone Partners, Woori Venture Partners, Sui Generis Partners, Antler, and Z Venture Capital.

🇮🇱 Israeli AI firm Hi Auto has locked in US$15 million in series A funding. Participating investors included Delek Motors, Vasuki Tech Fund, and the Zisapel Family – a prominent business dynasty in the country.

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Startups that are raising funds

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Behind the Glasswall

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Exclusive listicles

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Thoughtful tidbits