Hot today, cold tomorrow

Zepto, Facishare Technology, Syfe, 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} Today’s thoughtful tidbits contain a couple of pieces - on Impossible Foods and Oyo - that reminded me about the importance of reflection and adaptability - what may be white-hot today might turn ice-cold tomorrow. In a sense, I feel lucky that I’ve worked in startups my whole life; the whole concept of flexibility has been ingrained in me by now. Couple that with a belief in never getting too high or too low emotionally - for work matters, at least - and I think I can bring a measure of balance to any situation. But maybe you feel it’s better to dive headfirst into any emotion you’re experiencing? Let me know what you think. 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. -- Winston  --------------------------------------------------------------- THE BIGGEST DEALS BY COUNTRY IN Based in India, quick commerce firm Zepto has closed a US$340 million series G round from General Catalyst and Mars Growth Capital. With this, the company’s valuation shot up to $5 billion. CN Facishare Technology, a Chinese SaaS startup that helps local CRM vendors, has received US$75 million in strategic funding from Eastern Bell Capital, Qiming Venture Partners, and Xiamen C&D Emerging Industry Equity Investment. SG Syfe, a Singapore-based digital wealth management firm, has [closed a US$27 million series C funding round](. The investors were Unbound and Valar Ventures. AU Proto Axiom is an Australian biomedical technology incubator. It banked a little over US$13 million from a series B round led by unnamed investors. KR South Korea’s iTruck is a platform for buying and selling used trucks. It secured just under US$6 million in early-stage funding from Hankook & Company, Pathfinder H, and Seoul Business Agency, among others. Here’s the complete list of this week’s funding chart: [80 deals worth over US$800 million](.  ---------------------------------------------------------------  M&As ID In Indonesia, social edtech firm Gredu, workforce marketplace Kerja.io, and migrant worker recruitment platform Hiringmaps [were acquired by edtech startup Pintar](. Terms of the deals were not made publicly available. This marks the first M&A move by Pintar after raising US$3 million in February from SIG Venture Capital and Havez Capital. ID RajaOngkir is an Indonesia-based platform that provides real-time calculation of shipping costs and integration with APIs. It has merged with ecommerce enabler Komerce in a share swap deal.  ---------------------------------------------------------------  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 send fundraising startups directly to investors’ inboxes. There’s no better time to list your startup, and you can do so [here](. HK This Hong Kong-based firm provides an all-in-one platform for conducting M&A due diligence. IN This Indian startup serves as a centralized hub for career-related things in software testing. ID This Indonesian company offers a mental well-being management software. 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]( - ❌ “Ask 10 founders they have convinced to chat, and nine will say they go completely AWOL after the first meeting.” - [Read more]( - ✅︎ “They not only challenged us to see our commitment to our vision and mission, but asked meaningful questions that we had not thought about. Their team was also very proactive and responsive in answering questions we had with them with regard to new terminologies and concepts that were not so clear to us at the time. While the due diligence took some time, I think it was fair and reasonable. 10/10 would not have not changed a thing from the process we had gone through.” - [Read more]( ---------------------------------------------------------------  SECRETS TO SUCCESS IN DEVOPS? WE’RE ABOUT TO UNVEIL THEM Break the code and shape the future It’s no secret that DevOps is evolving at a breakneck pace, but do you have what it takes to adapt and thrive? On September 12, industry leaders will convene at Privé ACM in Singapore to delve into the hottest trends and tech advancements in DevOps, leaving no stone unturned. We’ll dissect success stories and arm you with the knowledge to future-proof your DevOps strategy. Seats are strictly limited - [apply now for an invite]( to this exclusive, in-person event.  ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. [Tech in Asia Conference Jakarta on October 23 - 24]( Celebrate Indonesia's Independence Day with knowledge and inspiration. Invest in your personal and professional growth by learning from industry leaders shaping Southeast Asia's tech landscape. Make the most of this special deal on your #TIAConferenceJKT pass and be a part of the conversation! [Get tickets.]( [Investor Hour at Tech in Asia Conference Jakarta]( Ready to make your startup dream a reality? Investor Hour is your golden ticket. This exclusive one-on-one networking session brings together brilliant founders and seasoned investors in an intimate setting. Whether you're seeking funding or looking to sharpen your pitch, Investor Hour is your platform to build lasting relationships. Don't miss this chance to connect with the industry's top minds. Secure your spot at TIA Conference Jakarta now! [Get tickets.]( [Gemini Day for Startups: Singapore on August 22]( Hearing about AI is easy. Actually using it to scale your startup? That’s a different story. Join Google Cloud’s Gabriel Tham along with founders from Crown Digital, Curium, and Pave Bank as they spill the tea on what works, what doesn’t, and how to get ahead in the AI game. [Apply now - this exclusive event will reach capacity soon.]( [Tech in Asia’s Founders Meetup: Thailand on September 11]( Is Bangkok's tech scene ripe for disruption? Get the inside scoop from A2D Ventures’ Ankit Upadhyay, WV’s Wing Vasiksiri, and The Radical Fund’s Paul Ark on unlocking growth potential, mastering investment strategies, and connecting with the right people. [Get your early bird pass at 20% off now.]( Hurry, promo ends August 26! [SYNC 2024 on October 08]( SYNC 2024 is taking on a new dimension. This year, we're diving deep into the world of artificial intelligence - the force that's reshaping industries, driving innovation, and redefining the future of business. AI is already here, but it's only just beginning to reveal its true potential. [Find out more about SYNC 2024 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 The future of alt-meat companies Plant-based food companies were the new hotness in 2022, but now they’re … well, maybe not quite “old busted,” but certainly not doing as well as they once were. In this [Masters of Scale episode]( Impossible Foods CEO Peter McGuinness talks about mistakes, messaging, and other lessons learned from working with retail partners and scaling oat milk. 2️⃣ Aiyo, Oyo How do you deal with a 75% drop in your company’s valuation? I don’t know, and that’s probably why I’m not leading Oyo, which has seen its valuation go [from US$10 billion to US$2.4 billion]( following its latest fundraise. 3️⃣ It might be better to literally keep people in the driver’s seat… … but I can’t deny that autonomous vehicles have their place in the world. [In this article on the Andreessen Horowitz website]( Waymo co-CEO Dmitri Dolgov discusses how his firm is using generative AI to help build “safer, sustainable, and more accessible transportation.” 4️⃣ Flat and down are not great adjectives, regardless of context According to Pitchbook research, [flat and down rounds]( for VC-backed companies hit a decade-high in the first half of 2024, accounting for 28.4% of all deals. Founders tried to wait out the bear market with insider and bridge rounds. But with no clear light at the end of the tunnel just yet, some have accepted the current lower valuations. 5️⃣ Who’s got the most patents in genAI? [This article on Visual Capitalist]( answers that question quickly and directly. Visually, too. Spoiler: it’s not Singapore.  --------------------------------------------------------------- [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