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Welcome to another edition of 🔍 Startup Researcher - Asia Pacific, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌏️ 

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📰 Important News

• India is set to launch a $1 billion fund to support digital content creators with funding, skill development, and global opportunities.

• Deliveroo has exited the Hong Kong market after nine years, selling some assets to Foodpanda as part of its cost-cutting strategy.

• Nio has laid off employees across key departments, affecting around 10% of its staff, with some regions seeing deeper cuts.

• Uber canceled its acquisition of Foodpanda Taiwan after regulatory rejection, expressing disappointment without appealing the decision.

• A Singapore court has granted bail to three men accused of defrauding Dell and Super Micro in a $390 million Nvidia chip scheme.

💸 Top Funding Rounds

• Zolve closed a $251 million Series B round led by Creaegis, valuing the cross-border neobank at $800 million.

• Terabase Energy raised $130 million in funding led by SoftBank to scale its technology deployment for large solar projects.

• Zhipu AI secured a $69 million investment from state-owned Huafa Group to advance its General Language Model.

• Singapore-based Chitose Bio Evolution raised $49 million from Japanese investors to advance its innovations in the biotechnology sector.

• Sydney-based workplace wellbeing and safety app Sonder has secured another $25.3 million from investors including Blackbird and Hostplus.

💰️ Notable Exits

• SkyLake Equity Partners acquired South Korean HR SaaS company Shiftee for $280 million, enabling its independent operation and global expansion.

• GlobalData acquired Singapore-based AI startup Ai Palette, backed by Tin Men Capital, to enhance its data-driven market intelligence.

• DSP Group has acquired Volt Money, a platform offering instant secured loans against mutual funds, with key team members set to join DSP.

• Scalare Partners has acquired Inhouse Ventures, fully integrating its platform to expand services for early-stage tech founders.

• Fintech SaaS unicorn Perfios has acquired AI-powered debt collection startup CreditNirvana to strengthen its debt management capabilities.

🏦 About Investors

• China’s ICBC has launched an $11.04 billion technology fund to support semiconductors and advanced manufacturing.

• The Bank of China has launched a $6.9 billion fund to invest in tech startups, expanding on its previous $4.15 billion fund to drive innovation.

• Bessemer Venture Partners launched a $350 million fund to back early-stage Indian startups across AI, SaaS, fintech, digital health, and cybersecurity.

• Venture debt firm Qverse has earmarked up to $15 million to finance entrepreneurs in Indonesia, supporting startup growth with alternative funding.

• SeaX Ventures launched SeaX Zero, a $6 million fund to invest in 15-20 startups by 2025, supporting zero-carbon innovations through deep tech.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Zolve

Zolve, a cross-border neobank founded in 2020 by Raghunandan G, has raised $251 million in Series B funding, including $51 million in equity led by Creaegis and $200 million in debt. The funding, backed by investors such as HSBC, SBI, GMO, DG Daiwa, Accel, and Lightspeed, values the company at $800 million and will support its expansion into Canada, the UK, and Australia, as well as the introduction of new financial products like auto and education loans. With over 750,000 users and $1.2 billion in processed transactions, Zolve aims to bridge financial gaps for skilled expatriates by leveraging international credit data, ensuring seamless access to banking services across borders.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Bessemer Venture Partners

Bessemer Venture Partners, a leading American venture capital firm with a history dating back to 1911, has launched a $350 million fund dedicated to early-stage Indian startups. With nearly two decades of presence in India, the firm aims to back founders in AI, SaaS, fintech, digital health, and cybersecurity, reinforcing its commitment to the country’s growing digital economy. Leveraging its roadmap-driven investment approach, Bessemer has previously supported high-growth companies like Swiggy, Urban Company, and Perfios, and with this new fund, it seeks to further accelerate innovation in India's startup ecosystem.

🤑 Opportunity Radar

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