Down but not out

ForwardX Robotics, Lentra, Kaso, 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} When I looked at our funding data for this week, I had to triple check that I had run the code properly and that the data was displayed correctly. It feels like the list is a lot shorter, and the funding rounds smaller, than what I’m used to seeing. I suppose this is just the reality of the world we’re living in. Startup funding is tight, investors are holding on to dry powder and being far more careful about who they back, and everyone’s just focused on weathering this storm. Still, I have faith that the region's tech ecosystem will pull through. When the metaphorical sun emerges from the clouds, we’ll see funding go back up and companies able to raise the money they need to grow and thrive. And hopefully then I’ll be triple-checking the data because the numbers seem too high. You can find all other important investment deals that happened over 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 CN ForwardX Robotics, a smart suitcase developer from China, has raised US$27.8 million in series C money from Hefei Hi-Tech Venture Capital, Anhui State Owned Capital Operation Holding Group Co. Ltd, and Hefei Industry Investment Group. IN Lentra is a SaaS lending platform that aims to empower financial institutions. Based in India, it [got a US$27 million]( in a series B extension from Dharana Capital and Mitsubishi UFJ Bank. AE Kaso is a B2B platform digitalizing and automating procurement between restaurants and food suppliers in the Middle East. It [secured US$10.5 million]( in seed funding from BY VP, Cyfr, GFC, Hala Ventures, MSA Novo, Pioneer Fund, Seedra Ventures, and Spade Ventures. SG Zero-Error Systems is a semiconductor company that develops space-grade integrated circuit solutions for space and autonomous vehicles. The Singapore-based firm has netted US$7.5 million in series A money from Airbus Ventures and Dart Family Office. VN Vuihoc is a Vietnamese edtech firm offering high-quality online courses for elementary, middle, and high school students. It received US$6 million from TNB Aura. Here’s the complete list of this week’s funding chart: [60 deals worth over US$131.4 million](.  ---------------------------------------------------------------  M&As  IN India-based co-working space Let’s Work has been acquired by angel investors for an undisclosed sum. IN AutomationFactory.AI, a global software technology factory, was acquired by SaaS firm Cilio Technologies. The financial details of the deal were not disclosed. IN Lynk is a mini-truck aggregation and booking platform that caters to individuals and small businesses. It [has been acquired]( by food delivery platform Swiggy India for an undisclosed sum.  ---------------------------------------------------------------  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 Pasar Segar is an Indonesian grocery marketplace. SG K-Link is a cloud-based communication platform that simplifies and streamlines customer service operations for contact center teams. It is based in Singapore. IN Based in India, Urban Vyapari aims to revolutionize the way retailers and restaurant owners operate by providing AI-powered solutions. You can find the full list of fundraising startups in Asia [over here](.  ---------------------------------------------------------------  KILLER PITCH DECKS 1️⃣ An edtech startup used this pitch deck to raise its seed extension Based in Singapore, Kalpha is a peer-to-peer ecosystem for sharing skills and knowledge online. The company used [this pitch deck]( to help it close its seed extension funding round in 2020, gaining the attention of the city-state’s angel investors and its existing backer Nest Tech VN. The presentation is simple and easy to read, with important points highlighted in different colors or bold font. It starts with a clear problem statement: What happens when people share knowledge or experiences? 2️⃣ This pitch deck helped a real-estate platform bag US$10 million Opendoor is a US-based digital platform that makes transactions easier for home sellers and property buyers. With [this pitch deck]( the startup landed US$10 million in series A money from Y Combinator and Khosla Ventures. The presentation states upfront what the company does, and then highlights its core team’s expertise on the second slide. It then addresses pain points in the space that Opendoor aims to resolve via a three-step digital solution. 3️⃣ An HR tech startup scored its seed round with this deck Chile-based Get on Board filters job postings for users, helping them find and apply to exclusive positions at startups and tech companies. In 2020, it raised an undisclosed sum after using [this pitch deck]( at a 500 Startups demo day. The presentation gives a clear picture of the tech recruitment market, detailing the issues involved in the process and how Get on Board’s service can solve those problems.  --------------------------------------------------------------- TECH IN ASIA'S FOUNDERS MEETUP: THAILAND  Jump in and share the ups and downs that you’ve experienced as a founder Do you wish there was a collaborative platform for founders to exchange their insights on overcoming setbacks during their startup journeys? We’ve got just the event for you. Mark your calendar for July 26 and join us in the heart of Bangkok at theCOMMONS for our networking event with founders from the Tech in Asia community. Learn how others dealt with challenges in their businesses and share your own experiences. Limited seats are available - act fast and secure yours [here](. Tickets are on sale at US$12.50 each, inclusive of light bites and one complimentary drink. Avoid FOMO and claim your spot today! Special thanks to our official event partners - AWS, CleverTap, Cooley, D.Camp, Sinarmas Land, Singapore Global Network (SGN), Quest Ventures, and Purple Quarter - and our community partners - WeWork, Gobi Partners, and Startup Thailand - for making this meetup possible.  --------------------------------------------------------------- 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 M for Mafia We’re all familiar with startup mafias - firms started by employees of other tech firms. These mafias are getting bigger and wider as the tech scene grows, so here’s [a handy article]( that tracks 28 of the world’s biggest startup mafias, from Google to Airbnb and everyone in between. 2️⃣ Culture club Culture is the bedrock of any company, but how do you go about putting the right culture in place for your business? After all, you can't afford to just let your culture emerge naturally - it needs to be deliberately built, just like your product. Check out [this Masters of Scale podcast]( to hear from Dharmesh Shah, founder of HubSpot, on what it takes to build your company culture. 3️⃣ The new age of social media You’ve probably heard about Threads, Meta’s answer to Twitter. I’m not on it yet, but what’s interesting is that you can quite easily port over your contacts and content preferences from Instagram onto the new platform, giving us a glimpse of what social media based on partially or fully open software protocols could look like. What does this mean? How will it change the way social media operates? [This Harvard Business Review piece]( goes deeper. 4️⃣ Here’s how the first half of 2023 has gone Venture funding is slowing down all over the world, and Asia is no exception. Startup funding in H1 2023 dropped 50% from the same period last year, with a decline in late- and growth-stage funding having the greatest impact on these numbers. Crunchbase puts all the numbers together in [this article](. 5️⃣ The lowdown on CVC Corporate venture capital (CVC) plays a key role in supporting startup growth, but it has some nuances that differentiate it from regular venture capital. Tanvi Lal, senior associate at Intuit Ventures and co-founder of non-profit VC Unleashed, [shares her thoughts]( on the world of CVC, how it works, and what founders and aspiring VCs should know about it.  --------------------------------------------------------------- [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. 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