Far from the slow funding pace in Latin America, the Middle East, and Africa, Asia’s startup scene is moving at full speed, with India driving a large share of the activity in recent weeks. This week alone, Indian startups pulled in about $145 million across a range of sectors.
At the top is Truemeds, an online pharmacy focused on generic drugs, which secured $85 million in a round led by Accel, with Peak XV Partners, WestBridge Capital, and InfoEdge Ventures also participating.
Not far behind, electric motorcycle maker Ultraviolette raised $21 million in an all-equity round led by TDK Corporation’s venture arm to fuel its global expansion.
Meanwhile, personal care brand Kimirica attracted $15 million from Carnelian Asset Management, and AI-powered entertainment startup Dashverse brought in $13 million in Series A funding from Peak XV Partners, Z47, and Stellaris Venture Partners.
Rounding out India’s funding spree, Pronto, a New Delhi-based app offering cleaning, laundry, and home services in under 10 minutes, closed an $11 million Series A, pushing its valuation from $12.5 million in May to $45 million.
While India grabbed the biggest headlines, Singapore and Hong Kong also posted notable deals. In Singapore, e-commerce tech startup graas.ai raised $9 million in a pre-Series B round led by Tin Men Capital, with Incred Wealth, Orzon, Integra Partners, and Yuj Ventures joining to support the rollout of its Agent Foundry platform in India.
The city-state also saw deeptech manufacturer Nibertex secure $7 million in Series A funding led by TNB Aura, alongside the Asian Development Bank, Faircrest Holding, and Foxmont Capital Partners, to scale production of PFAS-free textile membranes.
Over in Hong Kong, HolmesAI, a persona-based AI agent service, closed an undisclosed Seed+ round backed by Bitrise Capital, Waterdrip Capital, and CGV Fund, bringing its total raised to $3 million.
With Q3 already underway, the question is whether Asia’s startups can keep this momentum going, or push it even higher, in the months ahead.
