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,
A few years ago, I vacationed in Krabi, Thailand, with a few friends. Our Airbnb rental was located on the top of a hill, giving us a breathtaking view of the coast and horizon from our balcony.
Along with shades, sunscreen, and beach shorts, one of my friends also brought a drone. We had a lot of fun with it, taking turns to fly it from our hilltop villa all the way down to the beach.
But aside from providing endless amusement for dudes on holiday, drones have more practical applications. For instance, Malaysia-based Aerodyne helps companies with analytics, data operations, and process optimization with its drones, which have uses in sectors ranging from agriculture and infrastructure to logistics and security.
This week, the startup raised US$30 million in bridge funding from investors, and it plans to use the fresh funding to support its expansion into Europe, Africa, Latin America, and South Asia. Aerodyne also aims to bring its drone solutions to the agriculture sectors of Indonesia and India.
Personally, though, I’m content with the entertainment value that drones provide.
Image credit: Timmy Loen
Let’s dive into the biggest deals and M&As that recently took place.
The biggest deals by country
🇮🇩 Traveloka: The Indonesia-headquartered online travel company bagged US$300 million in late-stage funding from Allianz Global Investors, BlackRock, Indonesia Investment Authority, and Orion Capital Asia.
🇹🇭 Line Man Wongnai: The Thailand-based food delivery startup got US$265 million in series B money from BRV Capital Management, Bualuang Ventures, Government of Singapore Investment Corporation, Line Corporation, PTT Oil and Retail Business, and Taiwan Mobile.
🇮🇳 Molbio Diagnostics: The Indian healthtech firm scored US$85 million in bridge financing from Temasek Holdings.
🇨🇳 Well-Link Technologies: The China-based cloud rendering startup secured US$40 million in series B2 money from CDH Venture and Growth Capital, Future Capital, and Temasek Holdings.
🇲🇾 Aerodyne: The Malaysian provider of unmanned aerial systems solutions raised US$30 million in bridge funding from Kumpulan Wang Persaraan and Petronas Ventures.
M&As
Startups that are raising funds
Killer pitch decks
Building Indonesia’s digital economy with its MSMEs
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.
