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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 🌏️ 

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.

Let's delve into the core sections of our weekly newsletter:

• 📰 Important News

• 💸 Top Funding Rounds

• 💰️ Notable Exits

• 🏦 About Investors

• 📈 Deep Dive Bites

• 🤝 Diversity Spotlight

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• The Queensland government has allocated $53 million for quantum research and commercialization, funding seven institutions to enhance capabilities in photonics and quantum computing.

• Sea has partnered with BTS Group, Bangkok Bank, Saha Group, and Thailand Post to apply for a virtual bank license in Thailand.

• Swiggy has launched a 10-minute meal delivery service partnering with over 2,700 restaurants to compete in India's quick-commerce sector.

• Anuar Fariz Fadzil has been appointed as the new CEO of the Malaysia Digital Economy Corporation following his role at TikTok.

• Ninja Van resolved a salary dispute at its Vietnamese subsidiary, ECRM Nobita, by paying overdue wages to over 100 employees.

💸 Top Funding Rounds

• NIO secured a $471 million investment from three state-owned entities in China, demonstrating strong governmental support.

• Chinese sensor manufacturer Asair raised approximately $100 million in a Series D funding round to enhance its production of MEMS sensors.

• Salmon raised $30 million in Series A-2 funding to enhance financial services in Southeast Asia, focusing on underserved markets in the Philippines.

• Indonesian digital automotive startup Broom secured $25 million in an extended Series A funding round led by Openspace Ventures.

• Melbourne-based biotech startup Cartherics has secured $10.21 million to initiate trials for its lead cell therapy product aimed at treating ovarian cancer.

💰️ Notable Exits

• Swiggy has received shareholder approval to increase its IPO fresh issue size to $595 million aiming for a $15 billion valuation.

• China Food Investment has announced plans to go public on Nasdaq through a SPAC merger, valuing the combined entity at $523 million.

• Shares of China's BingEx surged 17% on October 4 after a flat Nasdaq debut, pricing its IPO at $16.50 and raising $66 million.

• Genesis Energy acquires a 65% stake in ChargeNet for $64 million to enhance its electric vehicle charging network.

• REA Group announced its $62 million investment in fintech Athena for a 19.9% stake, increasing its valuation to $310 million.

🏦 About Investors

• SoftBank invested $500 million in OpenAI as part of a $6.5 billion funding round alongside existing investors like Thrive Capital and Microsoft.

• Toyota announced a $500 million investment in Joby Aviation in two equal tranches to support the certification and commercial production of Joby’s electric air taxi.

• Leading Venture Capital Firm Peak XV is reducing the size of its $2.85 billion fund by 16% due to high valuations in the public market.

• Invesco has raised Swiggy's valuation to $13.3 billion as it prepares for its upcoming IPO.

📈 Deep Dive Bites

Dive into India's thriving venture capital scene, where some of the most active firms are powering the country's innovation and startup growth. These investors are backing ventures across a range of industries, providing the critical support needed to scale and succeed. Want to know more about the firms driving this entrepreneurial surge? Delve into the full article to explore how these key players are shaping the future of India's startup ecosystem.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Swiggy

Swiggy, one of India’s largest online food delivery platforms, has received shareholder approval to increase its IPO fresh issue size to $595 million, part of a larger $1.4 billion IPO. The company is aiming for a $15 billion valuation, surpassing NTPC Green Energy's offering. Backed by SoftBank, Swiggy's move demonstrates its ambition to expand, particularly in its quick-commerce arm as it seeks to outcompete rivals like Zomato and Zepto. This IPO, the largest in India this year, reflects Swiggy’s confidence in its growth trajectory amidst a thriving IPO market, where 250 companies have raised over $9 billion.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Peak XV

Peak XV Partners, formerly Sequoia Capital India, has reduced the size of its $2.85 billion fund by 16%, cutting $465 million due to high public market valuations. This move comes over a year after the firm split from Sequoia Capital in 2023. Despite the downsizing, Peak XV has seen significant success, achieving $1.2 billion in exits through IPOs from companies like Zomato and Mamaearth, as well as private firms such as K12 Techno and Pocket Aces. With over $9 billion in assets under management, Peak XV continues to focus on investments in India and Southeast Asia, maintaining a portfolio of more than 400 companies, including over 50 unicorns.

🤑 Opportunity Radar

Techstars Anywhere Accelerator

Apply to the Techstars Anywhere Accelerator by May 22nd, 2024, to elevate your startup from anywhere in the world. This innovative remote-first program, designed for companies across various industries, offers access to top-tier mentorship, funding of up to $120,000, and a worldwide network of investors. With three in-person meetups throughout the Americas, you'll gain valuable insights and connections to help you succeed. The accelerator kicks off on September 9th, 2024, and culminates in a Demo Day on December 5th, 2024. Don’t miss this opportunity to join a dynamic community of entrepreneurs and accelerate your business journey.