It's always sunny when you get money

Liontown Resources, SmartHR, KargoBot, 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} In last week’s newsletter, I mentioned being pleasantly surprised to see a climate tech firm appear in the top funded list. Well, this week, two companies - one is from the industry, the other plays an important adjacent role - also made it. Maybe if I keep talking about this, we’ll have three firms next week. 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  AU Australian firm Liontown Resources develops and supplies the battery minerals required by the electric vehicle and energy storage industries. It closed US$250 million in bridge funding from LG Energy Solution. JP SmartHR is a cloud-based software that automates the procedure of social insurance and employment insurance. The Japanese company has raised a US$140 million series E round from KKR and Teachers’ Venture Growth. CN KargoBot, a developer of intelligent driving technology from China, has bagged US$83.3 million in series A money. China International Marine Containers, Ordos Venture Capital, and Shenzhen Investment Holdings were among the participating investors. ID Indonesian solar energy company Xurya has closed a US$55 million series B round. Investors who joined the fundraise include AC Ventures, British International Investment, and Clime Capital. SG Xcelerate is a Singaporean firm that offers governance, risk, and compliance solutions. It has received US$52 million in debt financing from Orionis Capital. Here’s the complete list of this week’s funding chart: [78 deals worth over US$930 million](.  ---------------------------------------------------------------  M&As  IN Tydy, a mobile employee onboarding service, was acquired by HR tech firm Phenom for an undisclosed sum. MY SOLV is a technology company operating a platform that facilitates trade and financing for MSMEs in Malaysia. It was acquired by TASConnect, an SaaS supply chain fintech firm. The financial details of the deal are not publicly available. MY CompareHero, a financial online comparison platform for banking and telco products in Malaysia, was acquired by Jirnexu for an undisclosed amount. Jirnexu is the parent company of aggregator platform RinggitPlus. AE BitOasis is a cryptocurrency exchange headquartered in the United Arab Emirates. It was acquired by Indian crypto trading platform CoinDC for an unknown sum. AU Creator Flow, Australia’s largest marketplace for user-generated content, has been acquired by marketing services company Roar Global for an undisclosed amount.  ---------------------------------------------------------------  STARTUPS THAT ARE RAISING FUNDS Fundraising is hard. To make things slightly easier, we’ve compiled this list of fundraising startups for our subscribers. We are launching a [new feature]( to send fundraising startups directly to investors’ inboxes. There’s no better time to list your startup, and you can do so [here](. VN This Vietnamese firm is a digital first residential property management platform. SG This Singaporean startup provides a virtual gaming platform to motivate seniors towards physical and mental wellness in a fun way. TH This Thai firm is a platform that helps businesses to decarbonize their supply chain. 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]( - ❌ “Completely disorganized. They get a bunch of people on a call or in a room together to hear the pitch and are supposed to have someone in their group advocate for you. Ends up being really disorganized, with follow-ups with lots of people that ask to invest $10k - $50k. Many of them do not know how to make a decision and are just waiting for someone else in the group to make or support it.” - [Read more]( - ✅︎ “... was thorough in the due diligence process, especially in getting to know how the business model works and what is the value creation process along with its structure of costs. We believe [the investor] was assessing our valuation fairly (in the negotiation process, relative to our revenue multiple etc.) and was not hyper pressuring us.” - [Read more](  --------------------------------------------------------------- TECH IN ASIA’S FOUNDERS MEETUP: MALAYSIA ON JULY 25 This time it’s different - come see it for yourself Founders, clear your calendar for July 25. We're bringing together Southeast Asia's most influential investors and startup leaders for an evening of game-changing conversations, exclusive connections, and actionable insights designed to help you scale your startup and dominate the region’s tech scene. [Get your tickets now]( - your future self will thank you.  ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](.  [Tech in Asia Conference Kuala Lumpur 2024 : Malaysia on The Rise on July 24 - 25]( The Southeast Asian tech community is abuzz with excitement, and Kuala Lumpur is the place to be this July. Tech in Asia Conference is set to bring together over 2,000 of the region's brightest minds from leading companies like Altara Ventures, ShopBack, StashAway, Vertex Ventures, and many more. We are offering a limited 7.7 flash sale of up to 35%. This offer ends on July 07, 11:59 p.m. SGT, or when discounted passes are fully redeemed. [Secure your tickets today.Â]( [Tech in Asia’s Founders Meetup in Malaysia on July 25]( Dissect groundbreaking ideas presented at our flagship Kuala Lumpur conference, gain new perspectives from diverse minds, and solidify connections forged over shared passions at Founders Meetup. [Get your tickets now!]( [KL Conference Exclusive: Networking Night on July 24]( Seize the opportunity to connect with the brightest minds and most influential players in Asia's tech ecosystem, all while enjoying panoramic city views and delicious treats. This exclusive event is only open to Tech in Asia Conference Kuala Lumpur Pro Pass holders. [Secure your spot on our guest list today!]( [KL Conference Exclusive: After Party on July 25]( After two days of high-impact learning, join us at the official closing party to unwind, socialize, and celebrate the thriving startup scene in Malaysia. There’s no better way to do so than by immersing yourself in its vibrant energy firsthand. This exclusive event is only open to Tech in Asia Conference Kuala Lumpur Pro Pass holders. [RSVP now to secure your spot!Â]( [Tech in Asia Conference Jakarta on Oct 23-24]( Where is the next Silicon Valley? It might just be Jakarta! Indonesia's young tech talent is booming, and Tech in Asia Conference Jakarta puts you right in the center of the action. Join us at #TIAConferenceJKT to connect with 4000+ region's brightest minds, 150+ hottest startups, and hear straight from 80+ experts. Early-bird tickets are now available! [Snatch the 60% discount while it lasts!]( --------------------------------------------------------------- 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 What’s up? It’s your boy, product-market fit - again This is probably the third or fourth product-market fit article I’ve shared here, but it never stops being relevant for startups. Making sure that you’re giving your customers what they need - and not just want - can be really difficult. It feels like you need to be able to read minds at times. Until a passing comet irradiates us all and bestows superpowers, we’ll have to make do with learning from others who have managed it. That doesn’t make it that much easier - [this guy took seven years to achieve it](. 2️⃣ What to read, according to A16Z I’ve never been the type to read what the experts are reading. It feels a little bit too much like copying homework, with the potential for doing it incorrectly (i.e., I draw the “wrong” lessons from the books they recommend). I’d like my learning journey to be a little more organic. But that’s just me - I could be terribly wrong and a billionaire by now if I’d read what they read. Anyway, [here’s what the folks at Andreessen Horowitz are sticking their noses into]( for summer 2024. 3️⃣ AI for grammar(ly) You already know that there are a ton of AI products out there, but one of the more “functional” (aka, unsexy) use cases is in correcting grammar. It might not set the world alight but it’s very useful. In this [Masters of Scale episode]( Grammarly CEO Rahul Roy-Chowdhury discusses how he thinks AI will shape the future of work, among other topics. 4️⃣ Starbucks is ubiquitous but not universally loved Cafés used to be all about providing a quiet, intimate setting for people to meet or to enjoy a quiet brew by oneself. I should know: My first date with my wife was at a local cafe. The point is, apart from being a place where you could get food and drinks, cafés can also be a personal and emotional space. But Starbucks has since made the whole concept one of fast beverages and fast business. It’s more important that you load up on a triple shot of caffeine or sugar and then move on than it is for you to be in the moment. And that seems to have [hurt Starbucks’ image and - perhaps most pertinently for this newsletter - its business](. 5️⃣ Can AI really be a rising tide for all? The subheader says it all. [This Pitchbook article]( explores why the AI surge hasn’t lifted that many boats yet.  --------------------------------------------------------------- [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi. Today’s edition was written by Winston Zhang. It’s edited by Dhania Putri Sarahtika. Copyright © 2024 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894