Weekly Roundup: Asian tech news and startup deals

Weekly Roundup: Asian tech news and startup deals
Photo by Markus Spiske / Unsplash

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

  • Matrix Partners China, one of the largest venture capital firms in Asia, is looking to raise at least $1.5 billion for its largest fund ever.
  • India-based logistics startup Moglix raised $250 million in Series F funding round, at a valuation of $2.6 billion, led by Tiger Global and Abu Dhabi-backed Alpha Wave Global.
  • Indian subscription management and recurring billing platform Chargebee raised $250 million in its Series H round co-led by Tiger Global and Sequoia Capital, with participation from Insight Partners, Sapphire, and Steadview Capital, at a valuation of $3.5 billion.
  • Ecommerce firm FirstCry raised a $240 million secondary funding round from India’s sovereign wealth fund –The National Investment and Infrastructure Fund (NIIF).
  • South Korean internet giant Naver Group is launching a $100 million fund for metaverse creators through its Naver Z subsidiary.
  • Indian Edtech startup Scaler, which offers upskilling courses to working professionals in India, raised a $55 million Series B round at a $710 million valuation.
  • India-based logistics platform Loadshare raised $40 million in a funding round led by Tiger Global, to further invest in hiring, building logistics technology, and adopting more electric vehicles into its fleet.
  • Indian fintech app Jar raised $32 million in its Series A financing round led by Tiger Global.
  • Online experiences marketplace for travelers based in India, Headout raised $30 million in an extended Series B round led by Glade Brook Capital.
  • China's Ractigen Therapeutics raised $30 million in a Series A round led by Entrée Capital, with participation from Flint Capital, Homeward Ventures, Almeda Ventures, Operator Partners, and others.
  • India's Vyapar, an accounting software for both mobile and desktop, raised $30 million in a Series B round led by WestBridge Capital, with participation from IndiaMart, India Quotient, Fortytwo VC.

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.