Hello there,

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 🌏️ 

If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.

Ready? Let’s get right into it.

📰 Important News

• Several APAC startups are reportedly planning to go public in 2025, including Ather Energy, Groww, Zetwerk, Zepto, and Superbank.

• Taiwan has opened the Startup Island Taiwan Silicon Valley Hub to connect its innovation ecosystem with global resources.

• Chinese AI startup DeepSeek has launched its free iOS app, offering users access to AI models, with an Android version in development.

• South Korea announced plans to invest $1.02 billion in 2025 to boost domestic EV demand after a 9.7% decline in sales.

• Several startups announced layoffs as Messari cut 15%, Vow shed 25 jobs, and PocketFM let go of 75 amid challenges.

💸 Top Funding Rounds

• Zhibu Internet secured $460 million in a Series C++ round led by Zhongke Kechuang to advance AI-driven textile solutions.

• Netradyne raised $90 million in Series D funding led by Point72 Private Investments to boost R&D, global expansion, and go-to-market investments.

• Cornerstone Robotics raised over $70 million in Series C funding led by EQT to advance surgical robotics innovation.

• Digital asset bank Sygnum reached unicorn status after closing its latest funding round at $58 million to strengthen its position in the industry.

• ElectraLith, a Monash University spinout, secured $17 million in Series A to revolutionize lithium extraction.

💰️ Notable Exits

• T-Mobile is set to acquire adtech firm Vistar Media for $600 million in an all-cash deal to strengthen its advertising business.

• Amazon has agreed to acquire Indian BNPL firm Axio for over $150 million, expanding into financial services in India.

• Banking Circle acquired 100% of Australian Settlements Limited to enhance global payment solutions and expand into Australia.

• Enable acquired Flintfox to integrate AI-driven rebate management with advanced pricing capabilities.

• Insightsoftware acquired JustPerform to enhance its cloud-native enterprise performance management solutions.

🏦 About Investors

• Indian SaaS-focused VC firm Cornerstone Ventures reached a first close of $40 million for its $200 million second fund.

• DEG, the investment arm of Germany’s KfW, has committed $40 million to Jungle Ventures’ fifth fund, which has a targeted corpus of $500 million.

• Tennis Australia's AO Ventures raised $30 million in its first close to back startups in sport, entertainment, media, and health.

• Indian fintech Hissa launched a $35 million fund to help employees of Series B or later startups access liquidity by converting ESOPs into cash.

• Riceberg Ventures launched a $20 million fund to support 25 to 30 deeptech startups globally.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Zhibu Internet

Zhibu Internet, a Chinese intelligent manufacturing company specializing in IoT-enabled solutions for the textile industry, recently completed a $460 million C++ round of strategic financing. The financing, led by Zhongke Kechuang, will support the company's expansion into AI system software development and renewable fiber projects. Founded in 2014, Zhibu Internet integrates upstream textile factories through its SaaS cloud platform and IoT system, optimizing production and reducing costs for well-known brands like SHEIN and Gap. It was also named in the 2024 Hurun Global Gazelle Enterprise List as a high-growth company poised for a $1 billion valuation within three years.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

AO Ventures

AO Ventures, the venture capital arm of Tennis Australia, has raised $30 million in its first funding round, attracting investors such as Mark Nelson, John Wylie, and the Gnanalingam family. The fund will focus on 20 startups in sports, entertainment, media, and health, leveraging Tennis Australia's brand and network to support growth. Founded in 2021, AO Ventures aims to invest in technology-driven companies that address global challenges, with its associated AO Startups program nurturing early-stage ventures. Managed by Wildcard Ventures, the fund offers unique strategic advantages to startups in its portfolio.

🤑 Opportunity Radar

Call for Applications: Sustainability Open Innovation Challenge 6th Edition

Apply for the Sustainability Open Innovation Challenge 6th Edition by January 27th, 2025, to showcase your sustainable solutions and gain exclusive visibility from top investors. This global competition invites startups and SMEs to tackle pressing sustainability challenges in areas such as Climate Change, Green Buildings, Sustainable Agriculture, and Sustainable Materials. Submissions made early will receive feedback from industry experts and potential investors, opening doors to funding, collaboration, and mentorship. Don’t miss this chance to make a meaningful impact and contribute to a greener, carbon-neutral future.