Appreciate what's beneath the surface

Princeton Digital Group, Hysata, NephroPlus, and more raised funds this week. [Read from your browser]( FOMO Saturday Welcome to Tech in Asia's free Saturday VC newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- Hello {NAME} I recently got back to work after a few weeks away on military reservist. If there’s one thing that being back in green has taught me, it’s that you really can’t judge a book by its cover. That unassuming corporal could be a robotics engineer in his civilian life, while the charismatic lieutenant could be between jobs, delivering food for Grab in the meantime. I’m not passing any value judgments on what’s a “good” job or not - all this just shows that you can never really tell what’s beneath the surface. As you look at the big numbers in this newsletter, remember that there’s a ton of moving parts and unknown people keeping things going behind the scenes for these firms. Let’s not forget the efforts of the people on the ground even as we celebrate these milestones. You can find all other important investment deals that happened in the last few days in our [weekly funding news wrap-up](. Let’s dive into the biggest deals that recently took place. -- Winston  --------------------------------------------------------------- THE BIGGEST DEALS BY COUNTRY  SG Singapore-based Princeton Digital Group develops and operates data centers. It received US$280 million in debt funding from Standard Chartered, UOB Malaysia, and Maybank. AU Australian firm Hysata is a hydrogen electrolyzer developer whose product intends to hasten the global transition from fossil fuels to green hydrogen. It closed a US$111 million series B, with investors including the likes of BP Ventures, BlueScopeX, Hostplus. IN NephroPlus, an India-based dialysis center offering in-center hemodialysis, secured US$102 million in strategic investment from Quadria Capital. JP Orange, a Japanese manga localization and e-bookstore company, locked down a US$18.9 million pre-series A round. Investors include the likes of Chiba Dojo Fund, GFR Fund, and Globis Capital Partners, among others. SA Saudi firm Abyan Capital provides financial services that oversee and automate long-term investment portfolios. It closed a US$18 million series A round, with RZM Investment, STV, and Wa’ed Ventures the participating investors. Here’s the complete list of this week’s funding chart: [67 deals worth over US$960 million](.  ---------------------------------------------------------------  M&As  IN MyShubhLife, an Indian digital lending and savings platform, has been acquired by U Gro Capital for just over US$5.3 million.  ---------------------------------------------------------------  STARTUPS THAT ARE RAISING FUNDS Fundraising is hard. To make things slightly easier, we’ve compiled this list of fundraising startups for our subscribers. Do you run a startup that’s raising at the moment or know someone who does? Sign your company up for listing [here.]( ID Momofin is an Indonesian platform that provides infrastructure to various business solutions, including document management. ID Flemmo Music Global is a music publishing, record label, and distribution company from Indonesia. SG Singapore-based Humble Code develops no-code AI platforms for all use cases. You can find the full list of fundraising startups in Asia [over here](.  ---------------------------------------------------------------  BEHIND THE GLASSWALL Fundraising often involves reaching out to multiple contacts, many of whom founders might not have dealt with before. To provide some transparency to this process, we created Glasswall, a platform for founders to give feedback and recommendations on investors. Check out the full list [here](. - ✅︎ “Got quick feedback after each call on whether we would be moving forward through the process. Each call was tightly driven with rapid fire questions to drill to the heart of the business. Would get lots of forwarded feedback from their expert network over whatsapp as well. Some have led to interesting introductions!” - [Read more]( - ❌ “Very passive and disengaged on shareholders update calls.” - [Read more]( - ✅︎ “The entire process was designed to help our team flesh out the uniqueness of our team and product... It was a tough but fair and rewarding process which made us a better team.” - [Read more](  --------------------------------------------------------------- SAIGON SUMMIT 2024: CHARTING VIETNAM’S TECH FUTURE The clock is ticking on Vietnam's tech revolution - don't get left behind! Think you know Vietnam's tech scene? Think again! The Saigon Summit is your chance to go beyond the stereotypes and discover the cutting-edge innovations shaping the future. Whether it’s Sendo's ecommerce empire, MoMo's fintech revolution, Razer's gaming dominance, or the rise of AI, get ready to have your mind blown. [Get your tickets before prices increase on Monday!]( ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](.  [Saigon Summit 2024 : Charting Vietnam’s Tech Future on May 30]( Vietnam's tech scene is evolving at lightning speed, and Saigon Summit is your compass to navigate the changing landscape. Uncover the secrets of funding in a frosty tech winter, explore the electrifying potential of EVs, and learn from regional startups finding success in Vietnam's market. This is your chance to get ahead of the curve - [snag a third-release Pro Pass for just US$180 before prices go up on May 13]( [Tech in Asia Conference Kuala Lumpur 2024 : Malaysia on The Rise on July 24-25]( Are you seeking funding for your startup? TIA Conference KL's Investor Hour is your chance to connect directly with leading investors in a series of bespoke 1-on-1 meetings. Skip the endless email chains and pitch your startup face-to-face to those who can make a difference. Spaces are limited, so [submit your application today]( and get ready to make your mark! [Product Development Conference (Jakarta, 25-26 June 2024)]( Leading companies like Telkomsel, Prodia, Danone, Bank Rakyat Indonesia, Goto, and 300+ companies are leveling up at PDC. Are you? Discounted tickets disappearing faster than a beta test bug! Score 35% off before May 22nd. [Get your tickets today!]( [Tech in Asia’s Founders Meetup in Vietnam on May 30]( Investors and founders from Vietnam, Taiwan, and beyond have already secured their spots at our Founders Meetup in Vietnam! Will you be joining them? Don’t miss this opportunity to connect with people from across the tech ecosystem, learn about new trends and opportunities, and be part of the exciting energy of Vietnam's tech scene. Limited seats are available, so don't miss out. [Use the code VNTIASPECIAL10 to get 10% off your ticket now!]( [Saigon Summit Exclusive: Kickoff Mixer on May 29]( Forget awkward icebreakers - May 29’s Kickoff Mixer is your fast track to building meaningful connections. Mingle with fellow tech enthusiasts, industry veterans, speakers, and partners, all while enjoying panoramic city views and delicious treats at The Sentry P. This event is complimentary for Saigon Summit Pro Pass holders. Please [confirm your slot on our guest list via this link]( [Saigon Summit Exclusive: AWS GenAI Showcase on May 30]( The future of AI is generative – get a front-row seat to the latest advancements. This Saigon Summit exclusive features top startups unveiling cutting-edge genAI solutions that can revolutionize your business and give valuable insights for your own AI journey. Connect with leading founders, investors, and enterprise innovators, and learn from experts who have successfully implemented genAI solutions. Seats are limited, so [RSVP today!]( --------------------------------------------------------------- EXCLUSIVE LISTICLES Lists of most active investors in the region [China]( | [India]( | [Indonesia]( | [Japan]( | [Singapore]( | [Southeast Asia]( List of top-funded startups in Asia [China]( | [India]( | [Indonesia]( | [Israel]( | [Japan]( | [Hong Kong]( | [Singapore]( | [South Korea]( | [Vietnam](  ---------------------------------------------------------------  THOUGHTFUL READS  1️⃣ Would you trust your child’s education to robots? Well, maybe not entirely. [This Masters of Scale episode]( takes a look at the role AI assistants can play in education, as told by Khan Academy CEO and founder Sal Khan based on his own experiments. 2️⃣ Like Minority Report, but for ecommerce Online shopping hit a peak during the pandemic, but has since cooled. However, the industry still has niches that are ripe for growth - or at least VCs believe so. They’re putting money into [the “prepurchase” segment]( which focuses on technologies that are all about optimizing the customer experience before they buy anything. 3️⃣ To invest or not to invest Apparently, there are five signs that indicate whether a founder is worth investing in or not. Check out [this piece from Entrepreneurship Handbook]( and see if you agree. 4️⃣ Leadership comes in many forms Different situations call for different leadership styles - sometimes employees need to be inspired, while other times they could just need a clear set of instructions to execute. Find out more about the different styles in [this article from Harvard Business Review](. 5️⃣ Web3 blogging I personally don’t really see the need for any Web3 in blogging, but maybe Union Square Ventures’ Fred Wilson can [convince you otherwise](.  --------------------------------------------------------------- [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. 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