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.

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

• OpenAI is expanding globally by opening new offices worldwide with Singapore serving as a hub for the Asia Pacific region.

• Dubai's Damac Group is set to invest $1 billion in building data centers in Thailand, aiming to boost the country's digital infrastructure.

• Baidu's CFO Rong Luo is stepping down to lead the company's mobile ecosystem unit, as announced by the Chinese tech giant.

• Thailand's ride-hailing and food delivery startup LINE MAN Wongnai achieved its first gross profit in 2023, driven by revenue growth.

• Brisbane recycling social enterprise Circonomy has been placed in voluntary liquidation after 11 years of operation due to financial struggles.

💸 Top Funding Rounds

• Australian quantum software startup Q-CTRL has raised an additional $59 million in its Series B funding round as it aims to expand its global presence.

• Pune-based AI-driven robotics startup Haber Nets has secured $38 million in a funding round led by Creaegis with participation from Accel.

• Japanese proptech firm Estie raised $20 million in a Series B round led by Vertex Growth and the Development Bank of Japan.

• Singapore-based cybersecurity startup WatchTowr secured $19 million in Series A funding to accelerate growth and expand its services.

• Indonesian poultry startup Chickin has closed a Series A funding round led by Granite Asia to support expansion in the poultry industry.

💰️ Notable Exits

• Singapore's digital healthcare provider WhiteCoat Global has acquired Good Doctor Indonesia in a significant sector consolidation.

• RCG Global Services has acquired Aethereus, a Salesforce Summit Partner, to enhance its Salesforce consulting capabilities.

• Unimarket has merged with VendorPanel to enhance source-to-pay solutions and optimize business processes, supported by Accel-KKR.

• Banked has acquired Australian payment technology firm Waave to enhance its presence in Australia's pay-by-bank sector.

• Woolpert has acquired Sydney-based Greenbox Architecture to enhance its global reach and capabilities in data center design.

🏦 About Investors

• Hong Kong-based MindWorks has raised a $220 million fund despite a challenging investment climate.

• India's Northern Arc has launched a $179 million performing credit AIF fund, targeting six sectors including MSME, affordable housing, and microfinance.

• Virescent Ventures has secured $100 million in its second climate tech fund, aiming for a total of $200 million, backed by Westpac and the CEFC.

• Antler has successfully closed its second Australian fund at $77 million, exceeding its initial goal by $17 million.

📈 Deep Dive Bites

Explore the dynamic venture capital landscape of Singapore and discover the key players shaping its startup ecosystem. This article dives into the most active VC firms, showcasing their leadership, investment strategies, and notable portfolio successes. From Antler to Vertex Ventures, learn how these firms are driving innovation across fintech, e-commerce, and deep tech. Check out the complete list and gain a deeper understanding of the firms leading the charge in this thriving hub!

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Q-CTRL

Australian quantum software startup Q-CTRL has successfully raised an additional $59 million in its Series B funding round, increasing the total to $111.83 million over three years. The latest funding, led by UK late-stage venture firm GP Bullhound, has significantly boosted the company's valuation. Q-CTRL initially raised $35 million in late 2021, followed by a $39 million extension in February 2023, and an additional $3.8 million later that year. New investors in this latest round include Alpha Edison, Lockheed Martin Ventures, NTT Finance, Salus Group, and TISI, alongside contributions from existing investors such as Alumni Ventures and Salesforce Ventures. Founded in 2017 by Professor Michael J. Biercuk, Q-CTRL is headquartered in Sydney and specializes in enhancing the performance and stability of quantum computers and sensors through innovative software solutions.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

MindWorks

MindWorks Capital, a Hong Kong-based venture capital firm, has successfully closed a new fund of $220 million, positioning itself to invest in startups and companies with growth potential despite a challenging investment climate. This new fund, the firm's fourth, aims to support early-stage companies across the Greater Bay Area and Asia amid a downturn in venture capital investments, particularly in China. MindWorks secured this funding from a diverse group of investors, including sovereign wealth funds, a university endowment, asset managers, family offices, and notable Asia-based entrepreneurs. With this latest fund, MindWorks Capital's total assets under management now amount to $1.4 billion. Established in 2013, MindWorks focuses on empowering innovative entrepreneurs to develop transformative technologies that can disrupt traditional industries and foster new ecosystems.

🤑 Opportunity Radar

Call for Applications: YC W25

Apply to Y Combinator's Winter 2025 Batch by November 12th, 2024, to supercharge your startup journey. Gain access to a world-class ecosystem, resources, and networking opportunities in the heart of San Francisco. The YC program is designed for founders at all stages, from those with just an idea to companies with significant traction. Begin your application process today and join the ranks of successful startups like Airbnb, Stripe, and Reddit. The batch runs from January to March 2025, featuring weekly meetups, eminent speakers from the startup world, and dedicated support from experienced YC partners. Don't miss this chance to tap into YC's $600B combined valuation network and receive $500,000 in funding to kickstart your company's growth.