Although Asian startup funding faced a tough start in 2023, witnessing a sharp decline of 50% compared to the previous year, things appear to be picking up in the second half of 2023.
Here are the startup and venture deals we tracked across the Asian region today.
Malaysia's Axiata Digital & Analytics raises $58 million
Japanese conglomerate Mitsui has made a substantial investment of $58 million in Axiata Digital & Analytics (ADA), the data and AI unit of Malaysian telecommunications giant Axiata. The deal which was made through Axiata Digital Services (ADS), ADA’s parent company, increases Mitsui’s stake in ADS to 20%. In turn, Mitsui holds a 12.69% stake in ADA.
Indian EV manufacturer Euler Motors raises Rs 120 Crore
Indian electric vehicle manufacturer Euler Motors has revved up its growth trajectory by securing an impressive Rs 120 crore (approximately $14.5 million) in an extended Series C funding round co-led by British International Investment (BII) and Blume Ventures. New investors including Green Frontier Capital and other existing investors also participated in the round. The round follows a $60 million Series C round in September 2022.
Delhi-based Agritech startup Bull Agritech raises 100K
Indian agritech firm Bull Agritech has raised $100K in a pre-seed round led by startup accelerator PedalStart to fuel its expansion. This round was led by startup accelerator PedalStart, as Bull Agritech is part of PedalStart’s current cohort, One-to-N, which is supported by venture capital funds.
Follow our full coverage of the Asian startup and technology scene and get up to date with what's happening in the key markets within the region.