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

• CleverTap is planning to relocate its headquarters from San Francisco to Mumbai as it aims for an IPO in India.

• Indian workspace provider Table Space is planning an IPO in 2025, aiming for a $2.5 billion valuation, as it expands its services and real estate portfolio.

• Yuno has appointed Uber’s former Head of Payments APAC, SheueChee Beh, as the new Head of Partnerships for APAC.

• Byju Raveendran, the founder of Byju's, stated that the company's current worth is zero due to lost investor confidence.

• Indonesian loyalty platform GetPlus has announced its decision to shut down operations effective December 6, 2024.

💸 Top Funding Rounds

• Purplle has raised $180 million in Series F funding led by ADIA's subsidiary aiming to target growth in Tier II and III cities.

• Indian edtech unicorn Eruditus has secured $150 million in Series F funding, led by TPG's The Rise Fund, despite the current challenging investment climate.

• Beijing-based Robot Era has secured approximately $42 million in a pre-Series A funding round led by Alibaba.

• GIVA Jewellery has raised $30.4 million in an extended Series B funding to expand its retail presence and enhance its lab-grown diamond offerings.

• Everstage has raised $30 million in Series B funding led by Eight Roads Ventures, aiming to enhance sales compensation management.

💰️ Notable Exits

• Pony.ai has filed for a U.S. IPO under the ticker "PONY," seeking to expand its operations in autonomous driving as investor interest grows.

• Banked has acquired Australian payment technology firm Waave to capitalize on the demand for real-time payments and reduce transaction fees.

• IBM has acquired Bengaluru-based SaaS startup Prescinto to enhance its renewable energy solutions.

• Indium acquired a majority stake in Experion to expand its product engineering expertise, enhance AI capabilities, and extend its global presence.

• CIEL HR acquired Thomas Assessment to enhance its technology-driven HR solutions and expand its presence in the SAARC region.

🏦 About Investors

• Khazanah pledges $232 million for VC, semiconductors, and mid-tier firms under MADANI Budget 2025, including $116.15 million via Dana Impak Fund through an MoU with the Securities Commission Malaysia.

• UGRO Capital secured $40 million in impact debt financing from the U.S. DFC to enhance MSME lending in India.

• Tetr College of Business has launched a $10 million fund to support student entrepreneurs under 20.

• STPI will fund 25 startups from Tier II and III cities under the LEAP Ahead 2.0 program, offering up to $119,000 per startup.

• IndiGo has secured SEBI approval for its corporate venture capital fund, IndiGo Ventures, which will invest in aviation-focused and consumer startups.

📈 Deep Dive Bites

Japan's VC scene is booming, with firms like ANRI VC and Global Brain Corporation leading the charge. These investors are fueling innovation across tech, fintech, and life sciences, backing startups that are reshaping industries globally. From Mercari to SmartNews, discover the next-gen companies in their portfolios. Curious about the billions being invested and the strategies driving Japan's startup ecosystem? Dive into the full article to explore how these VCs are transforming ideas into market leaders and positioning Japan as a global innovation hub.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Eruditus

Eruditus is a Mumbai-based edtech unicorn that partners with prestigious universities like MIT, Harvard, and INSEAD to offer executive education programs for working professionals. Co-founded by Ashwin Damera and Chaitanya Kalipatnapu, the company provides accessible, high-quality online and blended learning solutions, helping executives and managers upskill. Eruditus became a unicorn in 2021 after raising $650 million, and despite challenges in the edtech sector, it recently secured $150 million in Series F funding led by TPG's The Rise Fund. This marks its first equity round in over three years, further solidifying its position as a global leader in executive education.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Khazanah

Khazanah Nasional Berhad is Malaysia’s sovereign wealth fund, established in 1993 to drive long-term economic growth through strategic investments across various sectors, including telecommunications, energy, healthcare, and technology. Managing assets worth approximately $35.8 billion as of 2023, Khazanah plays a dual role as both a commercial and strategic investor, supporting national development goals while generating financial returns. The fund has been instrumental in advancing innovation and sustainability in Malaysia, with recent initiatives like the $232 million commitment under the MADANI Budget 2025, which includes $116.15 million through the Dana Impak Fund to support venture capital, semiconductors, and mid-tier companies.

🤑 Opportunity Radar

Action for Women’s Health

Apply for the Action for Women's Health open call and secure funding to enhance women's mental and physical health globally. With a total fund of $250 million, selected organizations will receive flexible funding ranging from $1 million to $5 million. This initiative is designed for organizations focused on serving women and improving health outcomes while centering equity in their approach. To participate, complete the Organizational Readiness Tool and familiarize yourself with the Open Call Rules. Don't miss the chance to scale your impact and contribute to women's health—submit your application by January 10, 2025.