No surprise that AI’s bagging the bucks

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Hello reader,

When I saw the funding data for this week’s newsletter, I had to triple-check the figure for this week’s biggest funding round: a whopping US$1.5 billion invested into Emirati AI startup G42 by tech giant Microsoft.

I even googled the news and checked a few sources, because it’s been a while since this newsletter has seen a number that big (the tech winter sure sucks, eh?) and I had to make sure I wasn’t seeing things.

This really emphasizes the incredible interest and excitement around AI, which has so far been one of the few sectors that’s weathering – and honestly, perhaps even thriving in – this storm.

AI could be truly transformative, and it could herald a new era of how we understand and interact with technology and the world around us. That’s some exciting stuff.

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.

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The biggest deals by market

🇦🇪 G42, an AI and cloud computing startup from the United Arab Emirates, has raised US$1.5 billion in a strategic investment from Microsoft.

🇨🇳 Windrose Technology, a China-based company that develops zero-emission trucks, has bagged US$110 million in series B money from Goodman Group, Hite Hedge Asset Management, and HSBC.

🇮🇳 Parsons Nutritionals, a manufacturer of fast-moving consumer goods in India, has secured US$83.3 million in a bridge round from Evolvence India, HDFC Mutual Fund, International Finance Corporation, and Lighthouse Funds.

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M&As

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Startups that are raising funds

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Behind the Glasswall

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Unpacking Vietnam’s tech scene

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Exclusive listicles

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