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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

• Xi Jinping met with over a dozen top CEOs and executives, including Jack Ma, aiming to boost confidence in China's private sector following regulatory challenges.

• Gilmour Space Technologies announced plans for its first rocket launch in late March from Bowen, Queensland, after clearing its final regulatory hurdle.

• CreateAI, formerly TuSimple, has laid off 100 employees and is closing its Guangzhou office ahead of liquidation after shifting from self-driving tech to video games and films.

• The Indian government has received 67 proposals from AI startups for building a homegrown AI foundational model as part of the IndiaAI Mission.

• ASE Technology Holding launched a $300 million semiconductor plant in Malaysia to meet the demand for advanced technologies.

💸 Top Funding Rounds

• Patrizia and Mitsui & Co. are investing up to $250 million in Parkwise to develop sustainable urban mobility solutions in the Philippines.

• Neolix Technologies raised $137 million in an extended Series C round to commercialize L4 autonomous vehicles for urban logistics and deliveries.

• Omnisun closed a $102 million Series B round to invest in new facilities for producing materials critical to semiconductor manufacturing in China.

• Indian B2B firm Udaan secured $75 million at a $1.8 billion valuation from Lightspeed and M&G Prudential, with potential for an additional $25 million.

• Healing Paper, operator of medical beauty platform GangnamUnni, raised $29.7 million in Series C funding to drive global expansion.

💰️ Notable Exits

• Indian fintech firm PhonePe announced the start of preparations for its public listing on India's stock exchange.

• Carbar made a $3.8 million takeover bid for ASX-listed Carly, merging the two car subscription startups to enhance scale and service offerings.

• Mobikwik acquired a 3.39% stake in Blostem for $171,957, bringing its total shareholding to 6.79% on a fully converted and diluted basis.

• Sonar acquired Singapore-based AutoCodeRover to boost developer productivity and enhance software development using large language models.

• Dunamu acquired MPAG, the operator of digital sheet music platforms like MyMusicSheet, to expand into the content sector.

🏦 About Investors

• Nisa Leung stepped down as managing partner at Qiming Venture Partners after 19 years of leading investments in China's healthcare sector.

• India launched a $58 million tech fund for space startups to support early-stage companies, reduce import dependence, and boost commercialization.

• East Ventures unveiled IndoBuild AI, a platform for AI innovators to learn, collaborate, and solve real-world challenges in Indonesia.

• Segi Fresh invested an undisclosed amount in Mandalay Venture Partners' debut fund, managed by the Australian agrifood tech venture capital firm.

• SEBI canceled the registration of 19 Foreign VC Investors for regulatory violations, inactivity, and failure to meet eligibility criteria under FVCI regulations.

📊 Investment Highlights

Despite a funding downturn across the continent, some Malaysian startups defied the odds, securing major investments in 2024. From long-stay housing innovators to fintech disruptors, these companies are driving growth and resilience in the ecosystem. Want to know which startups made the biggest moves? Delve into the full article to explore the top funding rounds that shaped Malaysia’s startup scene this year.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Parkwise

Parkwise Inc. is a newly established parking infrastructure startup in the Philippines, aiming to develop modern parking facilities strategically located near healthcare, education, and transport hubs to address the country’s severe congestion and parking shortages. Backed by Parkwise Australia, a part of the Wilson Group, and local industry leaders, the company integrates EV charging stations and rooftop solar to support sustainable urban mobility. To accelerate its expansion, Parkwise secured an investment of up to $250 million from Patrizia and Mitsui via the APAC Sustainable Infrastructure Fund (A-SIF), enabling the development of a pipeline of projects across key urban areas.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Nisa Leung

This week’s edition celebrates one of the pioneers of venture capital, Nisa Leung, who has stepped down as Managing Partner of Qiming Venture Partners after 19 years. Having played a key role in shaping the firm’s healthcare investment strategy, Leung led investments in over 220 startups since joining in 2006, backing notable companies like Gan & Lee Pharmaceuticals and CanSino Biologics. She helped establish Qiming as a leading investor in China’s life sciences industry. Her journey in healthcare investment was inspired by personal experiences, leading her to co-found Biomedic Holdings and work with PacRim Ventures before joining Qiming. While she plans to take a break, Leung remains committed to fostering innovation.

🤑 Opportunity Radar

Call for Applications: Global Entrepreneurship Challenge 2025

Apply to the Global Entrepreneurship Challenge 2025 by March 4, 2025, for a chance to launch and scale your startup in Japan’s dynamic business ecosystem. Backed by the Tokyo Metropolitan Government, this program offers international entrepreneurs mentorship, networking with local businesses, and full travel support to Japan. Whether your innovation focuses on sustainability, digital transformation, education, or culture, this is your opportunity to establish your business in one of the world’s leading markets. Don’t miss your chance to be part of this global initiative—apply now and take your venture to the next level in Tokyo!