Recycling plastic is fantastic for this startup that got big funding

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Hello reader,

At first glance, this week’s top-funded firms appear to come from the usual industries – ecommerce, SME lending, and semiconductors.

But then, an envirotech startup appears, and Street Fighter’s “here comes a new challenger” jingle plays in my head.

I recently wrote about how Indonesia’s fight with Thailand to become the EV king of Southeast Asia is a battle that is likely to benefit everyone no matter who wins, if only because it encourages usage of EVs on a regional level.

Similarly, seeing the envirotech firm (you’ll have to scroll down to see who it is; no free lunches here) snagging a sizable series A+ funding gives me some hope for the future of humanity.

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

🇮🇳 India-based KiranaKart operates Zepto, an e-grocery app. It has raised US$665 million from new investors like Avra Capital, Lightspeed, and Avenir, as well as existing ones like Glade Brook, Nexus, and StepStone.

🇭🇰 FundPark, a Hong Kong-based SME lender, has raised US$250 million in debt funding from HSBC.

🇨🇳 StarShine is a Chinese semiconductor company. It closed a US$137 million series B fundraise, with China Mobile Capital and Wenzhou Bay New Area Industrial Investment Platform joining the round.

Startups that are raising funds

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