Big bucks for later-stage startups, but early-stage deals make up the bulk

Dezerv, Poen, DST, 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} Just the other day, I was just speaking to a VC firm’s partner about the state of funding - and VCs’ appetites - in 2024. He mentioned that it wasn’t looking all that great for startups in the later stages - think series B and later - but there’s still a good deal (heh) of funding activity in series A and earlier. Looking at this week’s funding deals, I find it interesting that he’s basically right on the money. Sure, the top five deals for the week mostly come from startups that are series B and later, but that’s probably because deal sizes would usually be larger at later stages anyway. As for the rest of the deals this week, a quick scan of our internal spreadsheet shows that a large majority of them are for startups in the seed or pre-series A stage. 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 and M&As that recently took place. -- Jonathan  --------------------------------------------------------------- THE BIGGEST DEALS BY COUNTRY  IN Indian fintech platform Dezerv has raised US$32 million in series B money from Accel Partners, Elevation Capital, Matrix Partners India, and Premji Invest. KR Poen, a South Korean cleantech startup, has closed a US$27.3 million series B round. Investors include DSC Investment, E& Venture Partners, Hyundai Marine & Fire Insurance, K2 Investment Partners, KDB Bank, L&S Venture Capital, and Lotte Ventures. CN DST is a Chinese firm that provides operations services for new-energy logistics vehicles. It netted US$20 million for its series E+ round from Twin Towers Ventures. VN Nami Energy, a Vietnamese startup that offers clean energy solutions, has gotten a US$10 million investment from Clime Capital. PK Pakistani social commerce platform DealCart has raised US$3 million in seed funding from 500 Global, Evolution VC Partners, Khyber Venture Partners, Rayn Capital, Shorooq Partners, and Sturgeon Capital. Here’s the complete list of this week’s funding chart: [70 deals worth over US$186 million](.  ---------------------------------------------------------------  M&As IN Ekagrata Eduserv, an education startup based in India, has been acquired by Adda247 for an undisclosed amount. IN Centcart Insurance is an Indian insurance startup. It’s been acquired by Cashe at an undisclosed price. IN Indian edtech platform Genius Learning Labs has been acquired by Schoolnet India. Financial terms were not disclosed. IN Excelmax Technologies offers engineering services. The India-based firm has been acquired by Accenture, but the deal size was not revealed.  ---------------------------------------------------------------  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](. ID This Indonesian generative AI startup is looking to drive the future of content creation. VN This Vietnamese startup is a residential property management platform. VN Based in Vietnam, this startup offers solutions for sales teams. 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](. - ✅︎ “They basically own a city, which is BSD, which is a super strategic and poised for long term future development. They gave us access to various resources within BSD, whether it is location for our retail store, collaboration potential with other startups / ecosystem, press release assistance and access to government and Japanese companies.” - [Read more]( - ❌ “Had pretty junior people reach out a few times via Linked In asking to have a conversation. I would reply in the affirmative only to have them ghost the reply. Really rude.” - [Read more]( - ✅︎ “Had a great experience working with Ankit. He is one of the most, if not the most resourceful guy I met in Thailand. Although he turned us down initialy, he did put us in touch with potential clients and other leads that eventually became our investor. I would definitely recommend any early stage company to go to him first.” - [Read more](  --------------------------------------------------------------- CALL DIBS ON THE REGION’S UP-AND-COMING STARTUPS The future of Southeast Asia’s tech scene is bright, so wear sunglasses Think you've seen all the innovative tech players? Think again. Join fellow investors at this exclusive showcase, powered by Antler, and discover the next wave of tech disruptors before they hit the mainstream. You’ll get to witness early-stage founders deliver rapid-fire pitches, unearth investment opportunities, and connect with the minds pushing Southeast Asia's tech boundaries. ​​This is an invite-only event. Seats are limited, so [apply for yours now!](  ---------------------------------------------------------------  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]( Get ready to be inspired at the upcoming #TIAConferenceKL. Join over 1,000 attendees from across Southeast Asia - including Malaysia, Indonesia, Singapore, Thailand, and Cambodia - and beyond for two days of insightful discussions and unparalleled networking opportunities. [Get yours today]( and join the conversation. [Tech in Asia’s Founders Meetup in Malaysia on July 25]( The guest list speaks for itself: top investors, trailblazing founders, and industry game changers from Singapore Global Network, Khazanah Nasional Berhad, GyroGear, and more, all gathered in one room. Mingle with Southeast Asia's most influential players to connect, collaborate, and make things happen. [Don't just hear about it later – be there!Â]( [KL Conference Exclusive: Elevate Customer Engagement with Twilio on July 24]( Turn passive customers into brand advocates at this exclusive luncheon alongside fellow media, software, and telco leaders. You’ll walk away equipped to create personalized customer journeys, engineer sustainable engagement strategies, and diversify revenue streams. ​​This is an invite-only event. [Apply for an invite here!]( [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 #TIAConferenceKL Pro Pass holders. [RSVP now to secure your spot!]( [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 #TIAConferenceKL 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 50% 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 It’s all a fugazi Ever heard about Liquid Death, the beverage company that literally sells canned water? It’s been growing steadily since launching in 2019, but I’m sure you’re wondering: How could such a product fuel a company that’s now valued at US$1.4 billion? [This podcast episode]( on Masters of Scale reveals how. 2️⃣ Helping hand(s) A good mentor is essential for any startup founder, but what’s better than just one good mentor? Three of them. [This post]( shares more about the three types of mentors every startup founder needs and why each type is so critical. 3️⃣ The next frontier AI, AI everywhere, and not an application to use. That seems to be the state of AI right now, according to [this post on the Andreessen Horowitz site]( - it argues that the technology is already here, but it’s yet to be properly productized. Read more to find out what else the author thinks. 4️⃣ The beating (mechanical) heart At its core, every modern tech company needs a robust engineering team. But what happens when managing that team isn’t going the way you want and giving you the results you need? [This article]( sheds a little light on what business and engineering leaders can look out for. 5️⃣ So tired The tech sector has been through the wringer and workers are probably close to the breaking point. Sure, there’s a lot of macro factors to pin the blame on, but are there deeper reasons for why tech workers are just… done with everything? Check out [this piece]( on Medium to find out.  --------------------------------------------------------------- [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 Jonathan Chew. It’s edited by Dhania Putri Sarahtika. 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