Synlight Crystal, Klook, Okestro 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 Asiaâs tech and startup community by [registering here](.
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--------------------------------------------------------------- Hello {NAME} December is here - I donât know about you, but Iâm ready to start winding down for the year. I think the last month of the year - more specifically, that final week between Christmas and New Year - is when we should be the least productive versions of ourselves. Letâs circle back in 2024, yâknow? Of course, thatâs just me being eager to get the holidays started. If youâre my boss and youâre reading this (hi, Winston), I promise to be productive and efficient as always ⦠until the annual leave Iâm taking this festive season rolls around, that is. The startups featured in todayâs newsletter certainly donât share my sentiments, given that theyâve all just completed major fundraises and deals. You donât achieve these things by wishing you could laze around in bed all day, thatâs for sure. You can find all other important investment deals that happened in the last few days in our [weekly funding news wrap-up]( Letâs dive into the biggest deals that recently took place. -- Stefanie
 --------------------------------------------------------------- THE BIGGEST DEALS BY COUNTRY
 CN Synlight Crystal, a Chinese hardware firm specializing in silicon carbide substrates, raised US$211.9 million in a series F round from New Material Fund for Transformation and Upgrading of Jinshi Manufacturing Industry and Jingjinji Industry Synergistic Development Investment Fund. HK Klook, the Hong Kong-based travel and experiences platform, [has bagged US$210 million]( in series F funding from Bessemer Venture Partners, HSBC, Atinum Investment, Golden Vision Capital, Kasikornbank, Citi, J.P. Morgan Asset Management., SMIC, Krungsri Finnovate, and EQT. KR Okestro is a South Korean software company. It raised US$104 million in series B money from Industrial Bank of Korea, STIC Investments, IMM Investment, and KDB Bank. IN India-based AI startup Sarvam AI has raised US$41 million in series A funding. Peak XV Partners, Khosla Ventures, and Lightspeed Ventures participated in the round. SG Singapore-based telehealth firm Doctor Anywhere [bagged US$40.8 million]( in a series C round from Novo Holdings and Square Peg Capital. Hereâs the complete list of this weekâs funding chart: [53 deals worth over US$881 million](.
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M&As IN Doubtnut is an Indian edtech firm that leverages AI technologies. It was acquired by coaching institute Allen Career Institute for US$10 million. IN Revv is a car rental company based in India. It was acquired by marketplace CarDekho for an undisclosed sum. IN TrueKind is a clean skincare company from India that has been acquired by fast-moving consumer goods player BIA Brands. The financial details of the deal were not disclosed. IN Goodera, a platform that curates and hosts volunteering programs for employees in partnership nonprofits, has been acquired by consultancy company Uniqus for an undisclosed amount.  ---------------------------------------------------------------
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STARTUPS THAT ARE RAISING FUNDS Fundraising is hard. To make things slightly easier, weâve compiled this list of fundraising startups for our subscribers. Do you run a startup thatâs raising at the moment or know someone who does? Sign your company up for listing [here]( ID Pipopa is a social platform for the rental of consumer goods. It is based in Indonesia. KR K Style Hub Inc is a South Korean firm that offers custom cosmetics-matching solutions for young women. SG Singapore-based ClustAI aims to democratize access to graphics processing units (GPUs) by linking inactive GPU owners with AI startups and large language models. You can find the full list of fundraising startups in Asia [over here](.  ---------------------------------------------------------------
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KILLER PITCH DECKS 1ï¸â£ This healthtech firm secured US$16.7 million in series C funding with this deck US-based Bright.md helps healthcare professionals diagnose patients more efficiently. In 2020, it used [this pitch deck]( to raise series C money. The presentation begins by stating a significant problem in the healthcare sector and explains the negative impact of digitalization on the industry, which is in stark contrast with other major fields. The deck then elaborates on Bright.mdâs platform and details how it makes the consultation process easier and more productive for both patients and clinicians. 2ï¸â£ An edtech startup used this pitch deck to raise its seed extension Singapore-based Kalpha is a peer-to-peer ecosystem for skills and knowledge sharing.Simple and easy to read, [this deck]( helped the startup close its seed extension funding round in 2020, gaining the attention of its existing backer Nest Tech VN and Singaporeâs angel investors. The presentation begins with a clear problem statement: What happens in the society when people share knowledge or experiences? 3ï¸â£ This pitch deck helped an F&B management startup get seed funding OrderEZ is an end-to-end business management platform based in Singapore that helps food and beverage companies digitalize their business processes. It used [this pitch deck]( to secure seed funding from undisclosed investors in 2021. The deck begins with a clear overview of OrderEZ, detailing it evolution and the services it provides.  --------------------------------------------------------------- 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](
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THOUGHTFUL READS
 1ï¸â£ Sometimes, being big is no good One might think that the more funds a VC can raise, the better. But according to a report by US-based Santé Ventures, thatâs not necessarily the case. The firm has found that while more money is going into huge funds, the performance of big VC firms - with all the advantages of scale, brand, and experience - lag behind those of smaller firms. Read more [here](. 2ï¸â£ From the Gulf Sovereign funds hailing from Saudi Arabia, Qatar, and the United Arab Emirates [have increased]( their investments into Southeast Asian startups - there have been 59 deals in the region involving a Gulf-based investor from 2022 to 2023, up from just seven from 2018 to 2019. This is a bright spot in the regionâs funding drought. 3ï¸â£ AI in focus Southeast Asiaâs investors are increasingly focused on opportunities in the face of this funding winter, which is set to worsen amid escalating geopolitical tensions, soaring interest rates, and growing macroeconomic headwinds. The panel at the Forbes Under 30 Summit Asia 2023 explored investor sentiment around the region, and what the tech and startup sector can expect in the year ahead. Read more about what was discussed [here](. 4ï¸â£ No VC? No problem! Venture capital has been hard to come by for startups in Europe, and some of them have chosen to eschew it entirely. [This piece from Sifted]( explores some of the reasons why founders have explored alternative sources of funding - weâll probably see some similarities here in Southeast Asia. 5ï¸â£ VC 101 If youâre reading this newsletter, youâre either a VC or someone interested in VCs. If you fall into the latter category and figuring out the wild world of venture, check out [this handy guide]( from PitchBook, which gives you a lowdown on what VC is all about.
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Tech in Asiaâs newsletters are handcrafted daily with love - and sometimes powered by good kopi.Â
Todayâs edition was written by Stefanie Yeo. Itâs edited by Dhania Putri Sarahtika. Copyright © 2023 Tech in Asia, All rights reserved.
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