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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

• Indonesian agritech startup eFishery, facing financial distress and misconduct allegations, has laid off 98% of its workforce as investors may recover less than 10%, while its founders face legal scrutiny over $253 million losses.

• Japan is reviewing a proposal to ease AI data regulations by removing the consent requirement for sensitive data use.

• Shenzhen is launching a $630 million policy package to boost AI and robotics by offering subsidies, computing power vouchers, and financial incentives.

• A US bankruptcy court ruled that BYJU'S’ parent Think & Learn, Riju Ravindran, and Camshaft Capital defrauded lenders, with damages to be awarded later.

• Gilmour Space is set to launch Eris, Australia's first locally built orbital rocket, from Bowen Orbital Spaceport after securing regulatory approval.

💸 Top Funding Rounds

• EV charging startup Jolt secured a $214 million loan from Canada Infrastructure Bank to install 1,500 fast chargers in Canada.

• Zomato invested an additional $172 million in Blinkit, which is expanding to over 1,000 dark stores and targeting 2,000 by December 2025.

• Techcoop raised $70 million in a Series A round to enhance its digital platform, expand exports, and drive sustainable farming.

• Qingdao Shengtong Medical Nutrition has secured over $54.92 million in a B+ funding round to expand its specialized medical nutrition market.

• Geniemode closed a $50 million Series C round led by Multiples Alternate Asset Management to enhance its supply chain and expand globally.

💰️ Notable Exits

• Insta360 has secured IPO approval in mainland China, strengthening its position as a global leader in panoramic and action cameras.

• Flipkart-backed super.money has acquired BNPL startup BharatX in an all-cash deal to enhance its credit offerings on UPI.

• Indonesian BNPL firm Kredivo acquired fintech platform GajiGesa for $5–$6 million, far below its $33 million valuation, amid shareholder pressure.

• Veranda Learning Solutions acquired stakes in BB Virtuals (40.41%) and Navkar Digital (65%) to strengthen its commerce vertical.

• Mosaic Solutions acquired HelixPay and partnered with PayMongo to unify in-store and digital operations in the Philippines.

🏦 About Investors

• Indonesia launched Danantara, a $20 billion sovereign wealth fund, aiming to drive growth in renewable energy and manufacturing with Pandu Sjahrir as CIO and plans to leverage up to $160 billion.

• Wipro Limited is investing $200 million in Wipro Ventures to back early-to-mid-stage startups in AI, data analytics, cybersecurity, and cloud.

• Malaysia's MITI and SC launched the $29.4 million CoSIF fund to boost SME and MTC growth through equity crowdfunding and P2P financing.

• VentureX Fund secured $11.4 million in commitments since its January 2025 launch, with plans to expand by $28.6 million plus a green shoe option.

• Tokyo-based Decima Fund announced closing its debut fund in December 2024, aiming to expand native crypto teams globally.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Jolt

Sydney-based EV charging startup Jolt secured a $214 million loan from the Canada Infrastructure Bank to install 1,500 fast chargers across Canada, expanding its global network, which already includes Australia, New Zealand, and the UK. Founded in 2018 by Doug McNamee, Jolt offers up to 7 kWh of free, renewable-powered fast charging per session, monetized through integrated digital advertising screens. This investment aligns with Canada’s goal of deploying 84,500 EV chargers by 2029 and marks Jolt’s latest step toward scaling its kerbside charging infrastructure worldwide.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Danantara

Indonesia has launched Danantara, a $20 billion sovereign wealth fund modeled after Temasek, with plans to drive investment in renewable energy, advanced manufacturing, and other high-impact sectors. Under President Prabowo Subianto’s administration, the fund aims to leverage up to $160 billion through partnerships, including a 50:50 collaboration with Bridgewater, while consolidating state-owned enterprises to optimize national assets. Danantara is expected to manage over $900 billion in assets and play a crucial role in accelerating Indonesia’s economic growth toward an 8% GDP target.

🤑 Opportunity Radar

Call for Applications: Future Positive Challenge

Apply for the Future Positive Challenge by March 24th, 2025, to showcase your sustainability-driven innovations in the consumer electronics industry. This initiative, powered by Logitech, invites visionary companies, startups, and engineers to present groundbreaking solutions in areas such as battery technology, printed circuits, materials, sustainable manufacturing, and waste management. Benefit from a unique opportunity to pitch your ideas to Logitech executives, collaborate with business units, and engage in proof-of-concept discussions. Submit your application early by March 3rd and join a community dedicated to shaping a sustainable future for the electronics industry.