Behind the Glasswall

Amber, Amperesand, Robos, 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} It’s been a relatively quiet week on the funding and acquisitions front, likely because of the recent Lunar New Year celebration. The holiday is a big deal here in Asia, so it makes sense that things have slowed down during this period. However, it certainly hasn’t been quiet here at Tech in Asia. Last week, we launched [Glasswall]( a platform that lets startup founders review VCs anonymously, and suffice to say, it has caused quite a stir. Glasswall [was developed]( as part of our ongoing mission to support Asia’s tech and startup community. There’s long been a kind of information asymmetry in the industry, with VCs having the upper hand, and we want to level the playing field for founders. We’ve received lots of feedback, positive and negative, from founders and investors alike since Glasswall went out into the world. We’ve also had to reflect deeply on various concerns related to the product, such as content and moderation, and have decided [to adopt a more subtle and community-driven approach]( to drive desired behavior. It’s still early days for Glasswall, and we’ll continue to iterate and improve on the product. But we firmly believe that driving greater transparency can help take our tech and startup ecosystem to even greater heights. After all, having good investors is how the startups featured in today’s newsletter got where they are today, y’know?  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 that recently took place. -- Stefanie  --------------------------------------------------------------- THE BIGGEST DEALS BY COUNTRY  IN Amber, a long-term accommodation booking platform for students, [has raised US$21 million]( in an early stage round from Gaja Capital, Lighthouse Canton, and Stride Ventures. SG Amperesand is a Singapore-based electrical infrastructure company. It [got US$12.4 million]( in seed money from Foothill Ventures, Material Impact, TDK Ventures, Temasek Holdings, and Xora Innovation. KR South Korean robotics firm Robos has bagged US$4.9 million in series A money. CKD Venture Capital, Dt& Investment, FuturePlay, Gyeongnam Venture Investment, JCH Investment, Korea Technology Finance Corporation, NH Investment & Securities, Nonghyup Bank, and Vision Venture Partners participated in the round. JP Michibiku is an enterprise solution that aims to streamline the work of boards of directors. Based in Japan, it netted US$2.4 million in an early-stage round from Animal Spirits and Dimension, Global Brain Corporation. PH Mober, an on-demand platform for same-day delivery services in the Philippines, received US$2 million in a seed round from RT Heptagon Holdings. Here’s the complete list of this week’s funding chart: [39 deals worth over US$144 million](.  ---------------------------------------------------------------  M&As  TR Ninja Global FZCO, a gaming and esports company in Turkey, has been acquired by Nodwin Gaming for an undisclosed sum. ID AyoPajak offers tax reporting solutions for individuals and companies. The Indonesian firm [has been acquired]( by know-your-customer platform Privy. The financial details of the deal were not disclosed. IN Bitsila, a seller marketplace in India, has been acquired by Pai Platforms (formerly Paytm Ecommerce). The financial details of the deal were not disclosed. IN PV Diagnostics is an India-based firm that provides on-site diagnostic services to solar power plants. It was acquired by SolarSquare Energy, a residential solar company, 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.]( SG Based in Singapore, Bimafy is an online insurance marketplace that offers solutions for both retail customers and businesses. IN DriveCarma is an India-based firm that intends to revolutionize the way people drive by incentivizing responsible driving through a rewards ecosystem. LK Fluencr is an influencer marketplace that helps businesses and influencers connect and collaborate through a digital platform. It is based in Sri Lanka. You can find the full list of fundraising startups in Asia [over here](.  ---------------------------------------------------------------  KILLER PITCH DECKS 1️⃣ This Vietnamese trading app’s deck won it US$1.2 million Anfin, a Vietnam-based fintech startup, enables users to buy and sell stocks listed on the country’s stock exchanges. The startup used [this pitch deck]( to raise US$1.2 million in its third round of seed funding in 2022. The presentation is straightforward and easy to read, with a good balance of scripts and visuals. It highlights Anfin’s solution and platform execution as well as its go-to-market strategies. 2️⃣ A HR tech startup used this pitch deck to raise its seed round 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 received an undisclosed sum of seed money 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. 3️⃣ A flying taxi startup’s pitch deck helped it land US$1 million in seed funding The ePlane Company, a developer of electric planes, aims to make commuting within cities easier, while keeping its price at only 1.5x of current taxi fares. The firm used [this pitch deck]( to secure seed funding in 2021. The deck immediately lays out The ePlane Company’s business, which seeks to provide high-mileage flying taxis for door-to-door travel in cities. The presentation goes on to outline the company’s vision going forward.  --------------------------------------------------------------- SAIGON SUMMIT 2024: CHARTING VIETNAM’S TECH FUTURE  Calling all startups - showcase your tech at our exhibition space! Are you an early-stage startup founder looking to tell the world about your latest innovations and connect with hundreds of tech professionals? By popular demand, we’re bringing our revamped signature trade show, Startup Showcase, to Saigon Summit. This is your chance to put your brand firmly on the map and get the eyeballs of potential investors and business partners! Along with a dedicated space to set up your product, Startup Showcase participants will receive two tickets to Saigon Summit as well as an exclusive promo code for additional ticket purchases. You’ll also get your company logos featured in the Participating Startups section of our event website and receive a lot more perks. [Apply to exhibit here]( before slots run out! --------------------------------------------------------------- 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 things anonymous founders say about VCs I’ve rambled on about why we launched Glasswall in the introduction of this newsletter and how you can access it, but check out [this article]( for a snapshot of founders’ reviews and to get a sense of the bigger picture. 2️⃣ No pedal to the metal VCs appear to have kept the investment brakes on in January 2024. Global startup funding for the month hit almost US$22 billion - a tad below the monthly average for 2023. It seems that venture funding will continue to be constrained this year, although the return of an IPO market could change that. [Read more]( on Crunchbase News. 3️⃣ Do you have games on your phone? We’ve all played games before - board games, video games, card games, etc. But did you know that we can learn about leadership from them? In [this Masters of Scale podcast]( host Reid Hoffman - who is also a co-founder of LinkedIn - takes listeners through some well-known games, such as Monopoly and poker, and unpacks the key entrepreneurial lessons that they contain. 4️⃣ For hire If you’re reading this newsletter, you’re either a VC or interested in the field. You may even be trying to get a job at a VC firm - in which case, [this article]( unpacks some insights on securing a role in the sector, including what kinds of experience are most relevant and alternative routes to VC employment. 5️⃣ Changing the playbook In the face of geopolitical tensions, slower growth, and greater regulation, Chinese VCs have had to rethink how they go about their investments, given that they can no longer rely on big US listings and that the Chinese government has focused more on industrial sectors. [This piece]( from CNBC goes deeper.  --------------------------------------------------------------- [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 © 2024 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894