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

• Singapore has allocated $332 million to attract global venture capitalists to invest in local deep-tech startups.

• Swiggy reduced its IPO valuation target to $11.3 billion, down from an initial $15 billion, due to market instability and low interest in recent IPOs.

• Nishad Singh, former head of engineering at FTX, avoided prison time for his role in the exchange's collapse after cooperating with authorities.

• NUS and NTU have partnered to launch National GRIP, with $37.81 million to support 300 startups and 150 spin-offs by 2030 in Singapore's deep tech ecosystem.

• Karnataka launched two flagship startup programs to enhance funding access and support the vibrant startup ecosystem beyond Bengaluru.

💸 Top Funding Rounds

• Gojo & Company raised $233 million in a Series F round, combining $122 million in equity and $111 million in debt, to expand inclusive financial services.

• Finova Capital has raised $135 million in Series E funding to expand its loan offerings focused on serving MSMEs in India.

• Bengaluru-based Vridhi Home Finance has secured $37.35 million in Series B funding led by Norwest Venture Partners to enhance housing finance access.

• Udaan has secured $36.14 million in debt funding to enhance its operations and market presence driving its strategic growth initiatives.

• Digital twin startup Neara has secured $31 million in Series C funding led by EQT and Partners Group to enhance its AI-powered platform.

💰️ Notable Exits

• Elphinstone, a YC-backed Pakistani fintech, has acquired local investment platform Trikl, enhancing its offerings of investment options across Pakistan.

• EQT has acquired SaaS talent solutions provider PageUp to boost global expansion and product innovation.

• M1 has announced plans to acquire a 70% stake in Vietnam's IT solutions provider ADG for $37.8 million.

• Digital Turbine has acquired ONE Store International to expand its global app marketplace, promoting a more open and equitable mobile ecosystem.

• BAO Systems acquired assets from KnowTechTure to strengthen its health data systems integration and interoperability solutions globally.

🏦 About Investors

• Vingroup has launched VinVentures, a $150 million venture capital fund to support Vietnamese tech startups in AI, semiconductors, and cloud computing.

• Krafton has backed IMM Investment’s first India fund, aiming to explore new sectors with Series A and late-stage investments across diverse sectors.

• MDEC partnered with Ascent and CCV to secure $45 million for Malaysia's digital economy, boosting fintech and AI startups.

• The Albanese Government has announced over $55 million in funding for 23 innovative projects in Australia focusing on sustainability.

• LaunchVic has announced up to $1.5 million in grants to support accelerator programs and up to $1 million for investor education.

📈 Deep Dive Bites

Discover the dynamic landscape of Indonesia’s venture capital ecosystem, where top VC firms fuel innovation and economic growth by backing promising startups across fintech, consumer goods, and more. With strategic investments and robust support, these firms are instrumental in shaping the nation’s startup scene. Check out the list of key players driving Indonesia’s digital economy to explore the leaders, strategies, and notable portfolio companies shaping Indonesia’s future.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Gojo & Company

Gojo & Company, a Tokyo-based microfinance-focused holding company dedicated to financial inclusion in Asia and Africa, raised $233 million in a Series F round, with $122 million in equity and $111 million in debt. This funding aims to support Gojo’s expansion into underserved regions, leveraging partnerships with Japanese financial institutions, including Sumitomo Mitsui Banking Corporation and Mizuho Bank. Since its founding in 2014 by Taejun Shin, Gojo has pursued a vision to operate as a "Private Sector World Bank" targeting financial access for over 100 million individuals across 50 countries by 2030.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Vingroup

Vingroup, Vietnam’s largest private conglomerate founded by Pham Nhat Vuong in 1993, began as a food production company in Ukraine before expanding its operations back home, where it now leads in real estate, retail, healthcare, education, and more. Known for brands like Vincom and Vinpearl, Vingroup has been a driving force in Vietnam’s modernization and growth. Recently, the company launched VinVentures, a $150 million venture capital fund aimed at boosting Vietnam’s tech sector by investing in early-stage startups focused on AI, semiconductors, and cloud computing. Through VinVentures, Vingroup is reinforcing its commitment to advancing innovation across Vietnam and Southeast Asia.

🤑 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.