Weekly Roundup: Asian tech news and startup deals

Here are the technology news, startup, and VC deals we tracked across the Asian region this week.

Weekly Roundup: Asian tech news and startup deals
Photo by Mackenzie Marco / Unsplash

Here are the technology news, startup, and VC deals we tracked across the Asian region this week.

  • Data Centre company Princeton Digital Group (PDG) closed an equity investment of more than $500 million led by Mubadala Investment Company.
  • B2B e-commerce platform ElasticRun raised $330 million in funding led by SoftBank Vision Fund 2 and Goldman Sachs Asset Management to expand across India.
  • Healthtech startup MediBuddy raised $125 million in a funding round from Quadria Capital and Lightrock India, to be used to invest in customer awareness, hiring, strengthening technology platforms including data science capabilities, clinical research, and product development.
  • India-focused venture capital fund Prime Venture Partners raised $120 million, as part of the final close of its fourth fund.
  • Open source developer tooling startup Hasura raised $100 million in funding led by Greenoaks, making it the 10th startup reaching unicorn status in India in 2022.
  • India's startup unicorns of 2022 include @Uniphore ($2.5 billion); @DealShareIndia ($1.6 billion); @Elastic_Run ($1.5 billion); @Livspace ($1.2 billion); @mamaearthindia ($1.15 billion); @leadschoolindia ($1.1 billion); @XpressBees_IN ($1.1 billion); @FractalAI ($1 billion); @thedarwinbox ($1 billion); and @HasuraHQ ($1 billion).
  • Indian neobanking platform Niyo raised $100 million in a new funding round led by Accel and Lightrock India to be used to invest in its diversification plans, entering new markets such as personal loans, credit cards, and insurance.
  • Property operations software platform Facilio raised $35 million in Series B funding led by Dragoneer Investment Group with participation from Brookfield Growth and existing investors Accel India and Tiger Global Management to support its efforts to digitize property operations and aggregate real-estate portfolios in India.
  • Software-as-a-service logistics management platform Shipsy raised $25 million in a funding round co-led by A91 Partners and Z3Partners, to be used to grow in the Middle East, India, and Southeast Asia, while it accelerates expansion plans into new markets such as Europe and the U.S.
  • Direct-to-consumer (D2C) healthy snacking brand Happilo raised $25 million from Motilal Oswal PE (MOPE), to be used to grow its D2C channel and distribution network.
  • San-Francisco-based sales engagement platform Vymo, which has offices in Singapore, Bangalore, and Tokyo, secured a $22 million Series C round led by Bertelsmann Investments with participation from existing investors Emergence Capital and Sequoia Capital.
  • Bengaluru-based drone technology startup NewSpace Research & Technologies raised $21 million in a round led by Pavestone Technology Fund.
  • Fleet management platform Fleetx.io raised $19.4 million in a funding round led by Indiamart, with participation from existing investors IndiaQuotient and Beenext.
  • Indian microblogging platform Koo raised around $10 million from Caspier Venture Partner, Ashneer Grover, and Ravi Modi Family Trust.
  • Edtech startup Bhanzu raised $2 million in a seed funding round led by Lightspeed.

The Draft provides a weekly roundup of the most important tech news across key emerging markets in Africa, Asia, Eastern Europe, Latin America, and the Middle East. Follow the rest of our coverage @techloy on Twitter.