Sign up for the Daily Newsletter, sent exclusively to our premium subscribers. We break down the big and messy topics of Asia’s tech and startup community. Get the newsletter in your inbox everyday with a premium subscription.
Hello reader,
The upcoming Lunar New Year will be my first as a married man, so my days of collecting red packets are over. I have a one-year grace period before I have to start giving red packets, so at least I won’t be in the red (what a curious contradiction), but there goes my bonus money days.
Lots of money has been distributed in funding news over the past week, though. Read on to see who put US$350 million in the bank to start 2023.
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
🇮🇳 PhonePe, a mobile payment app firm, raised US$350 million in late-stage funding from General Atlantic.
🇦🇪 Fintech firm Tabby offers consumers across the United Arab Emirates and Saudi Arabia the flexibility to pay for their online and offline purchases. It bagged US$58 million in a series B round from STV and Sequoia Capital India.
🇨🇳 Fengtai Technology, a company that focuses on industrial information security, secured US$36.8 million in series B funding from Addor Capital, China Capital Management, and China Internet Investment Fund, among other investors.
🇯🇵 Interstellar Technologies, which develops and manufactures rockets, took home US$30.4 million in series D money from investors such as CyberAgent Capital, Hagiwara Construction Industry, and IMV Corporation.
🇰🇷 People Fund is a South Korea-based digital lender focusing on consumer loans. It closed a series C round of US$20 million. Bain Capital led the fundraise, with participation from 500 Global and Access Ventures, among others.
M&As
Startups that are raising funds
Killer pitch decks
Exclusive listicles
Thoughtful reads
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
