It's not a Barbie World, but we're alright

GreenCell Mobility, Astroenergy, MariBank, and more raised funds. [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} I recently watched the new Barbie movie, directed by Greta Gerwig and starring Margot Robbie. I loved it so much. It’s possibly one of my favorite movies ever. I might make it my entire personality. Without spoiling the plot, I’ll just say that one of the key realizations Barbie has in the movie is that the Real World is nothing like Barbieland, and it’s quite a rude awakening for her. I feel like that’s been the case for a lot of startup founders the past six months - with the ongoing funding winter and economic situation in general, the startup life has lost a lot of its shine, and founders have had to face some harsh realities. But still, people keep on keeping on, and we’re still seeing great companies come up, raise funds, and work toward tackling real problems in the world despite the odds. And that is fantastic. 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 IN GreenCell Mobility is an India-based e-bus manufacturer. It raised US$366 million in debt financing from Rural Electrification Corporation. CN Based in China, Astronergy is an intelligent manufacturing enterprise focusing on photovoltaic modules. It got US$280.1 million in a series C round. SG MariBank, a Singapore-based digital bank that is a wholly owned subsidiary of Sea Group, [has received a strategic investment]( of US$172.5 million from its parent firm. KR Finda is a South Korean fintech company specializing in financial product recommendations. It has bagged US$37.6 million in series C money from 500 Global and JB Financial Group. VN Gimo provides earned wage access and other payroll services to underbanked Vietnamese workers. It [secured US$12 million]( in a series A round from AlteriQ, Blauwpark Partners, Genting Ventures, George Kent, Integra Partners, Resolution Ventures, TKG Taekwang, TNB Aura, ThinkZone, and Y Combinator. Here’s the complete list of this week’s funding chart: [339 deals worth over US$1.2 billion](.  ---------------------------------------------------------------  M&As VN VIT Travel/LPH Travel is an online travel agent in Vietnam. It has been acquired by Indonesian travel firm NusaTrip for an undisclosed sum. SG Zeemart, a Singapore-based F&B procurement firm, has been acquired by hospitality technology group Liven. 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. Do you run a startup that’s raising at the moment or know someone who does? Sign your company up for listing [here](. HK Inalife is a Hong Kong-based global digital legacy platform. SG K-link is a cloud-based communication platform aiming to simplify and streamline customer service operation. It is based in Singapore. IN Urban Vyapari is an Indian firm working to provide AI-powered solutions to revolutionize the way retailers and restaurant owners operate. You can find the full list of fundraising startups in Asia [over here](.  ---------------------------------------------------------------  KILLER PITCH DECKS  1️⃣ This insect-protein startup is raising its seed round with this deck Imago Engineering is a Malaysian company specializing in the construction of fully automated plants that produce protein, fat, and fertilizers from insects. Having previously banked US$500,000 in an undisclosed round, it’s now working to raise seed funding by using [this deck]( which clearly outlines how its technology works, its market potential, and its roadmap for the future. 2️⃣ Bukalapak used this pitch deck to land its seed round In 2020, the Indonesia-based commerce major netted a cool US$100 million investment from tech giant Microsoft, but it hadn’t always been easy for the startup to raise funds. According to Bukalapak co-founder Achmad Zaky, its [seed pitch deck]( didn’t actually help the startup get much money. It only managed to raise capital about six months after the deck was created in 2011. 3️⃣ This deck helped an insurtech startup bag US$54.4 million from Temasek Paris-based Alan provides users with health insurance services, including tracking, quotes, invoices, and reimbursement. The firm used [this pitch deck]( to raise US$54.4 million in series C funding from Temasek Holdings and Index Ventures. The presentation shows Alan’s track record of capital efficiency and the details of its execution. The company’s strategic plan from the point of view of its products, as well as its go-to-market strategy and internal team growth plan are also included in the deck.  --------------------------------------------------------------- MY STARTUP BOOTCAMP BY TECH IN ASIA SCHOOL Take a free nine-week course to launch a tech startup in Malaysia Do you want to establish a startup in Malaysia but don't know how? MYStartup and Tech in Asia are looking for formidable founders to join our nine-week course, which will begin in September 2023. Meet and mingle with experienced founders from Southeast Asia and learn startup basics including: - The founder's path and big Idea - The MVP and growth curve - The founding team and finances - The investment process and pitch Our mentors will also be on hand during office hours to answer all your questions. You can take this course - usually priced at US$1,999 - for free, thanks to MYStartup. Limited slots are available - [apply now]( for this unique opportunity!  --------------------------------------------------------------- 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 going down China-focused venture capital and other private investment funds have had a sluggish start to 2023, and they’re predicted to bring fundraising in Asia Pacific to the lowest in 10 years. This comes against the backdrop of China’s slowing economic rebound from the pandemic, heightened regulatory scrutiny for tech companies, and rising tensions between China and the US. Learn more in [this piece]( from CNBC. 2️⃣ Tech’s no longer a growth engine in New York Or so says an article from The New York Times. Venture capitalist Fred Wilson outlines why that’s not true in [a blog post]( and his perspectives certainly seem applicable to tech ecosystems all around the world. 3️⃣ For the long haul Climate tech is a rising vertical of interest among investors - but it’s certainly not new. Ventures of this kind have been around for 30 years, but the landscape has changed significantly over the decades, putting the sector in a prime position to weather the ongoing tech slump better than others. Read more in [this commentary]( on Fortune. 4️⃣ The fear of giving feedback It’s normal to want to avoid conflict, but leaders need to overcome this fear and be able to provide constructive feedback to support their team and provide mentorship and growth opportunities. [This piece]( from the Harvard Business Review shares some tips on how managers can navigate the discomfort and apprehension during difficult conversations so that they can communicate effectively. 5️⃣ Nuts and bolts A Reddit user put out a request for sources to use in a presentation on the basic, practical details of what VC entails. The community shared some thoughts on the topic - check out the discussion [here](.  --------------------------------------------------------------- [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 © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894