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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

• India launched the Startup Policy Forum to connect founders with policymakers, with over 30 startups joining to advocate for startup policies.

• Australia introduced an invitation-only National Innovation visa targeting high-caliber entrepreneurs, investors, and researchers.

• Bluestone, a Bengaluru-based jewelry startup, secured board approval for a $118 million IPO at a valuation of $1.4 billion to $1.5 billion.

• Singapore is set to open an AI public health center in 2025 to develop tools for predicting chronic diseases and detecting infectious outbreaks.

• Indonesian construction tech startup Gravel and Australian Blackbird-backed HR startup Tandem have shut down despite raising millions in funding.

💸 Top Funding Rounds

• Alibaba Group invested $70.7 million in South Korea’s K-fashion platform Ably Corp, valuing the company at $2.1 billion.

• Taiwanese travel platform KKday raised $70 million to fund M&As and AI investments, with plans to expand across Asia Pacific.

• Fintech startup KPay Group raised $55 million in Series A funding led by Apis Partners to expand across emerging Asian markets and fuel growth.

• Orange Health Labs secured $12 million in funding led by Amazon Smbhav Venture Fund to expand diagnostics services and scale test facilities.

• Indian AI HR platform AdvantageClub.ai raised $4 million led by Axilor Ventures with plans to expand in the US and Philippines.

💰️ Notable Exits

• Line Pay Taiwan has debuted on the Taiwan Stock Exchange with an IPO priced at $15,67 per share, achieving a market cap of $1.07 billion.

• Prosus acquired a 10.65% stake in Mintifi for $80 million to strengthen its position in the supply chain fintech sector.

• Uniphore acquired ActionlQ and Infoworks to expand its offerings addressing AI adoption challenges and accelerating enterprise deployments.

• Proptech Lamudi acquired fintech platform Ideal to improve the mortgage application process in Indonesia.

• Netscribes acquired Bengaluru-based Akira Insights to strengthen its data engineering, analytics, and AI capabilities.

🏦 About Investors

• Western Australia launched a $150 million startup investment program, backing seven VC firms with $45 million from the state government.

• Nicola Forrest has launched the $100 million Future Generation Women fund to address gender inequality in Australia’s financial sector.

• Abyro Capital launched a $25 million fund to support early-stage tech startups in India and the US, focusing on sectors like AI, SaaS, and healthcare.

• Former Australian Senator Arthur Sinodinos has joined Salus Ventures as a strategic advisor, alongside other high-profile figures.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Ably Corp

Ably Corp, a South Korean e-commerce platform founded in 2015, has made significant strides in the fashion industry, particularly focusing on women’s apparel. The platform recently attracted a strategic investment of $70.7 million from Alibaba Group. This marks Alibaba’s first equity investment in a Korean shopping app platform and values Ably at $2.1 billion, solidifying its status as a unicorn. Ably’s rapid growth is evident in its expanding user base, with monthly active users reaching 8.8 million in October. The investment is expected to further propel Ably's expansion and innovation in the competitive K-fashion market.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Abyro Capital

Abyro Capital, a venture capital firm operating in both India and the United States, has launched its inaugural $25 million fund aimed at supporting early-stage technology startups. The firm plans to invest in 12 to 15 startups over the next four years, focusing on sectors such as AI, SaaS, healthcare, manufacturing, supply chain, and delivery. Abyro Capital, founded by Vamsi Kora, who co-founded Gathi Analytics, aims to provide not only financial support but also operational expertise and access to global networks. Additionally, Abyro Capital has partnered with T-Hub, a government-backed incubator in Telangana, to offer funding, mentorship, and operational support for cross-border startups.

🤑 Opportunity Radar

Call for Applications: Imagine H2O Asia

Apply to the Imagine H2O Asia 2025 program and unlock access to water innovation opportunities across the Asia-Pacific region. Based in Singapore, this program connects early-stage startups to new markets, partners, and pilot support tailored to the region's unique needs. Open to global applicants prioritizing Asia-Pacific markets, Imagine H2O Asia provides the resources and network necessary to scale your impact. Don’t miss your chance to be part of this transformative program—apply by December 14th, 2024, and start your journey toward making a difference in water innovation.