Rising funds to make real impact

Vastu Housing Finance, SemiDrive Technology, Lhoopa, 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} One of my favorite things about working in Tech in Asia is learning about all the companies that are doing cool and innovative things to help solve real problems in the world today. For example, among the top-funded companies we have this week, we’ve got: a startup that’s trying to make it easier for developers to build more affordable homes, a software platform that wants to make heavy industries safer, and a company using blockchain to make cross-border settlements more efficient. It’s really heartening to see that these are the companies raising funds, as they could have a real impact and potentially change some people’s lives. That’s cool stuff. 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. -- Stefanie  --------------------------------------------------------------- THE BIGGEST DEALS BY COUNTRY  IN Vastu Housing Finance is a home financing company based in India. It has raised US$400 million in series D money from TA Associates. CN SemiDrive Technology, a Chinese chip developer, has secured US$137.7 million in a strategic investment from the Beijing Economic-Technological Development Area, among others. PH Lhoopa, a proptech company in the Philippines, aims to empower local partners to provide affordable homes in emerging markets. It has received US$80 million in series B funding from investors such as 10x Group, Concentric Equity Partners, International Finance Corporation, and Wavemaker Partners. AU HammerTech is a software platform designed to enhance worker safety and improve efficiency on construction sites. Based in Australia, the company bagged US$70.8 million in series B money from Riverwood Capital. SG Partior is a Singapore-based blockchain platform for payment clearing and settlements. It got US$60 million in a series B round from J.P. Morgan Asset Management, Jump Trading, Peak XV Partners, Standard Chartered, Temasek Holdings, and Valor Capital Group. Here’s the complete list of this week’s funding chart: [89 deals worth over US$1.1 billion](.  ---------------------------------------------------------------  M&As IN Pureit is an India-based firm that offers water purification services and products. It was acquired by water technology company A.O. Smith India for US$72 million. KR South Korean web developer Weplanet has been acquired by coding education firm TeamSparta for an undisclosed sum. JP Nokisaki, a Japanese startup offering a shared parking system, has been acquired by Taiwanese peer Uspace. The financial details of the deal were not disclosed.  ---------------------------------------------------------------  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 startup offers mental well-being management software to help corporations build a more resilient workforce. SG This Singapore-based firm has developed a virtual gaming platform to motivate older adults toward physical and mental wellness. MY Hailing from Malaysia, this startup transforms organic waste into high-protein insect feed and nutrient-rich fertilizers. 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](. - ✅︎ “Decision process has been quick. Not a surprise since the partners are also successful ex-founders who are knowledgeable.” - [Read more]( - ❌ “Time wasters. They always miss the timelines that they set for themselves then ghost. For example, "Answer by X date" which is then pushed back to "Y date" and finally they ghost completely when we pushed for an update 2 weeks after the deadline. In a way it's a blessing that they ghosted us, ensures that we didn't get the wrong partner.” - [Read more]( - ✅︎ “Quick to make decision. Asked the right questions and looked for the right values of founders for early stage.” - [Read more](  --------------------------------------------------------------- STOP SETTLING FOR ‘GOOD ENOUGH’ CUSTOMER ENGAGEMENT  No more playing catch-up. RSVP now to lead the pack Tired of grappling with the "build vs. buy" dilemma? Join fellow media, software, and telco leaders at an exclusive, invite-only luncheon powered by Twilio. You'll walk away equipped to create personalized customer journeys, engineer sustainable engagement strategies, diversify revenue streams, and turn passive customers into brand advocates. Seats are extremely 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 1,500 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!]( [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 A question of age The upcoming US presidential elections have led to the question: How old is too old to be in charge? It’s a conversation that is rooted in ageism, but it also raises important points that need to be addressed about when it’s time to let the next generation take over, says [the Harvard Business Review](. 2️⃣ A hybrid approach There’s a new approach to VC on the market: a hybrid venture-credit model that combines venture debt with mezzanine financing, which entails both debt and equity financing. The new model allows for shorter investment horizons, and helps founders avoid diluting their equity too much - [this piece]( from Hackernoon goes deeper. 3️⃣ Things are looking up? Global VC investment reached US$94.3 billion in the second quarter of this year, up from US$75.4 billion in Q1 2024. However, the deal volume fell to just 7,631, the lowest since Q3 2016, according to KPMG. Read more in its [report](. 4️⃣ Change afoot US venture capital investment in Chinese tech startups has significantly decreased due to geopolitical tensions and regulatory hurdles, leading to a decline in foreign capital and IPO opportunities for startups. This shift has resulted in a reduced role for US investors and a rise of state-backed funding in China, creating uncertainty about the future of the Chinese venture capital industry. [This article]( on the South China Morning Post goes deeper. 5️⃣ VC’s secret weapon According to Steve Brotman, managing partner at Alpha Partners, VCs have access to a “superpower” that is often overlooked: pro-rata rights. Pro-rata rights ​let existing investors put more money into the company when it raises more funds, allowing them to keep the same percentage of ownership they had before. In [this piece]( for the Venture Capital Journal, Brotman unpacks why these rights are so crucial for investors.  --------------------------------------------------------------- [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 Stefanie Yeo. It’s edited by Dhania Putri Sarahtika. Copyright © 2024 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894