Big red packets of funding

PhonePe, Tabby, Fengtai Technology, 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} The upcoming Lunar New Year will be my first as a married man, so my days of collecting red packets are over. I have a one-year grace period before I have to start giving red packets, so at least I won’t be in the red (what a curious contradiction), but there goes my bonus money days. Lots of money has been distributed in funding news over the past week, though. Read on to see who put US$350 million in the bank to start 2023. 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. --------------------------------------------------------------- THE BIGGEST DEALS BY COUNTRY  IN PhonePe, a mobile payment app firm, [raised US$350 million]( in late-stage funding from General Atlantic. AE Fintech firm Tabby offers consumers across the United Arab Emirates and Saudi Arabia the flexibility to pay for their online and offline purchases. It [bagged US$58 million in a series B round]( from STV and Sequoia Capital India. CN Fengtai Technology, a company that focuses on industrial information security, secured US$36.8 million in series B funding from Addor Capital, China Capital Management, and China Internet Investment Fund, among other investors. JP Interstellar Technologies, which develops and manufactures rockets, took home US$30.4 million in series D money from investors such as CyberAgent Capital, Hagiwara Construction Industry, and IMV Corporation. KR People Fund is a South Korea-based digital lender focusing on consumer loans. It [closed a series C round of US$20 million](. Bain Capital led the fundraise, with participation from 500 Global and Access Ventures, among others. Here’s the complete list of this week’s funding chart: [90 deals worth over US$720 million](.  ---------------------------------------------------------------  M&As HK Forkast is a Hong Kong-based online news platform that covers blockchain and emerging technologies operating within the business, economy, and finance industries. It has [merged with CryptoSlam, a US-based blockchain data analytics company](. IN E-bike maker Revolt Motors has been acquired by RattanIndia Enterprises, a diversified company specializing in emerging sectors. The financial details of the deal are not publicly available.  ---------------------------------------------------------------  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 BukaPO is an Indonesian food marketplace that focuses on home cooking and home-based businesses. SG Ackcio is a Singapore-based startup that builds wireless monitoring solutions for the construction, mining, infrastructure, and rail industries. MY Rx Click is a Malaysian app that connects users with their closest pharmacy. You can find the full list of fundraising startups in Asia [over here](.  ---------------------------------------------------------------  KILLER PITCH DECKS 1️⃣ This pitch deck helped Carro seal its seed funding The Singapore-headquartered firm started out as a platform that sold used cars. Currently, Carro also provides a range of services that includes car insurance, maintenance, and rentals. [This deck]( helped fuel the start of the company’s journey, illustrating the market opportunity and the qualities that differentiate Carro from traditional used car dealerships. 2️⃣ With this deck, a dating app for Muslims secured seed funding from 500 Startups Created in Egypt in 2017, Hawaya is a platform for Muslim singles to find their match. In 2018, the firm used [this pitch deck]( at the 500 Startups Demo Day and won US$150,000 in seed funding from the early-stage venture fund. The presentation explores online dating, including how it’s deemed socially unacceptable in the Middle East. Such information contextualizes why Hawaya’s founders developed the app specifically for the region and North Africa. The deck also details the company’s recent growth and explains how the platform works. 3️⃣ A healthtech firm’s pitch deck got the attention of an ex-PayPal executive Oscar is a direct-to-consumer medical insurance platform that provides packages for individuals, families, and small groups. The US-based firm used [this pitch deck]( in 2014 to bag US$80 million in a series A round led by Joe Londsdale, a general partner at 8VC and a former executive of PayPal. The presentation has a straightforward design and begins with background on the health insurance industry before introducing Oscar and how it works.  --------------------------------------------------------------- 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 Workplace trends in 2023 The Great Resignation? Quiet quitting? Remote work? 2022 threw up a bunch of buzzwords in the employment sphere, and [this Harvard Business Review (HBR) article]( makes nine predictions for how things will change in 2023. 2️⃣ The difference making ideas of 2023 Partners across Andreessen Horowitz weigh in on [the big ideas]( that startups in their respective fields will tackle in 2023. Someone should bookmark this and see how many come true. 3️⃣ A summary of private equity in Europe in 2022 This [PitchBook article]( illustrate key trends in the continent’s private equity scene through six charts. Surprisingly, despite a topsy-turvy 2022, deal volume was higher than in 2021. 4️⃣ Extending a hand to Gen Z These folks have probably had the oddest, roughest introduction to working life, what with Covid-19, a global recession, and their status as the first fully digital natives.Put these factors together and you’ve got a generation with a different perspective. This HBR article [offers some tips]( to help Gen Z employees survive and thrive in the workplace. 5️⃣ Silver linings playbook I like to get funky with my writing, and this has hopefully made a few of you laugh and enjoy reading these newsletters a little more. But to break the rules, one must know them well first. A solid foundation matters. In [this episode of Masters of Scale]( Cisco’s John Chambers talks about the five tried-and-tested playbooks - on culture, acquisitions, and crises, among others - which he used to devise and replicate winning strategies.  --------------------------------------------------------------- [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 © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894