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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

• eFishery is facing turmoil amid fraud allegations, leading to the interim CEO’s resignation, union protests, and uncertainty about the company's future.

• Four co-founders of PharmEasy's parent company are exiting as the startup faces challenges, leaving Siddharth Shah as the sole co-founder and CEO.

• ByteDance is exploring options to keep TikTok operational in the US without a sale, considering changes to meet regulations.

• OpenAI told an Indian court that deleting training data for ChatGPT would violate US legal obligations, as it fights a lawsuit from ANI.

• Australia's first independent tech policy think tank, the Tech Policy Design Institute, launched in Canberra with support from government and major tech firms.

💸 Top Funding Rounds

• Inventchip Technology, a Chinese silicon carbide device maker, has raised $137.5 million in the first tranche of its Series C round.

• Indian construction materials marketplace Infra.Market secured $120 million in a pre-IPO round, valuing the company at $2.7 billion.

• NetraDyne, a fleet safety and video telematics company, has become India's first unicorn in 2025 after closing a $90 million Series D round.

• Chinese healthtech Deepwise raised nearly $69 million in a round led by Legend Capital, leveraging China's push for AI-driven healthcare innovation.

• ProtoPie secured $21 million in Series B funding to drive global expansion, backed by investors including LB Investment and Korea Development Bank.

💰️ Notable Exits

• Hindustan Unilever acquired a 90.5% stake in Peak XV-backed Minimalist for $342 million, with founders set to run the brand for two years post-deal.

• Everstone Capital acquired a majority stake in Indian SaaS firm Wingify for $300 million, which targets international markets with its software solutions.

• Pomelo Group acquired fintech Arrow Checkout, with key leadership joining Pomelo to enhance product and business development efforts in SEA.

• Australian fintech Eden Exchange has acquired Dealcierge to launch edenX, a Singapore-based M&A and capital raising platform.

• HEX, a future of work education startup, has acquired Sydney-based AI-powered edtech EntryLevel to expand its skills training offerings.

🏦 About Investors

• Indonesian East Ventures has closed its maiden continuation fund backed by Coller Capital to support its portfolio's growth and liquidity needs.

• Vietnam-based VinaCapital is set to close its third venture capital fund at $75 million this year to support startups and innovation in the region.

• US-based VC firm SamVed has launched a $50 million fund to invest in early-stage Indian tech startups with investments ranging from $80,000 to $1 million.

• Eximius Ventures, an Indian micro VC firm, has launched its second fund with a $30 million target, focusing on early-stage startups in India.

• IIFL Fintech Fund has closed its second investment vehicle at $23 million, securing commitments from India's top family offices and investors.

📋️ Curated Lists

Explore the dynamic venture capital landscape in the Philippines, where key VC firms are fueling the growth of the country's burgeoning startup ecosystem. From fintech to deep tech, these firms are empowering Filipino entrepreneurs through strategic investments, mentorship, and essential resources. Delve into the full article to discover the leading players like ADB Ventures, Kickstart Ventures, and many others, who are driving the digital transformation and supporting the next generation of game-changing startups.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

NetraDyne

NetraDyne, an AI-powered fleet safety and video telematics company, has become India’s first unicorn of 2025 after securing $90 million in Series D funding, bringing its valuation to $1.34 billion. Founded in 2015 by Avneesh Agrawal and David Julian, the company operates in Bengaluru and California, leveraging AI-driven tools like video safety cameras to monitor driver behavior and enhance road safety. Its flagship product, Driver·i, integrates AI with fleet camera technology to provide real-time feedback and improve driver performance. NetraDyne tracks 700 million miles monthly, serves over 3,000 clients globally, and reported $210 million in revenue for 2024—a 65% year-over-year increase driven by strong growth in the U.S. market.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

East Ventures

East Ventures, a leading Indonesian venture capital firm, has closed its maiden continuation fund, backed by secondary specialist Coller Capital, to support portfolio growth and provide liquidity for its limited partners. The GP-led transaction was structured for East Ventures’ fifth seed fund, which originally raised $27.5 million in 2017, bringing its total distributions-to-paid-in capital (DPI) to approximately 2x. The structure includes profit participation, allowing existing LPs liquidity while maintaining exposure to future portfolio growth. Some of the fund’s key investments include media startup IDN and warehouse service provider Waresix. Founded in 2009, East Ventures is one of Indonesia’s most active VC firms, with early investments in Tokopedia, Traveloka, and Ruangguru. The firm has raised a total of $835 million across multi-stage funds in 2022 and 2023, along with a $30 million healthcare fund in 2023.

🤑 Opportunity Radar

Call for Applications: NetApp Excellerator Cohort #14

Apply to NetApp Excellerator Cohort #14 to take your AI-driven startup to the next level. This six-month accelerator program, based in Bangalore, provides deep-tech B2B startups with access to NetApp’s technical and business mentorship, customers, tools, and technology. Selected startups will benefit from a $15,000 paid PoC with NetApp, valuable GTM partnerships, and connections with industry experts and investors. With a proven track record of 77 graduated startups and multiple successful exits, this program is the gateway to scaling innovative solutions in data management. Apply now and be part of a thriving ecosystem shaping the future of AI.