Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- Southeast Asian startups raised a record-breaking $1.78 billion in July, driven by Alibaba’s $845 million investment in Lazada.
- Startups in India and Greater China faced challenges, with investments dropping to a three-year low in India and a 13.1% decrease in Greater China.
- US President Joe Biden signed an executive order restricting certain US investments in sensitive technology in China, further straining relations between the two countries.
- Wealth management platform Endowus raised $35 million in funding from Citi Ventures, MUFG Innovation Partners, and others.
- Waste management solutions company Blue Planet Environmental Solutions secured funding from Malaysian private equity firm Bintang Capital Partners.
- FOMO Group acquired fintech firms CapBridge and 1exchange in a deal worth an undisclosed amount.
- Property listing platform Lamudi Indonesia is seeking acquisition opportunities to support its ecosystem and achieve profitability this quarter.
- Deep tech startup Allozymes secured Series A funding from investors, including Xora Innovation and European VC firm Seventure Partners.
- BondbloX is raising up to $10 million in a Series B2 funding round for its fintech platform.
- Baskit, AHG Lab, Sinbad, DotBio, BintanGO, Neurophth Therapeutics, Henan Derry New Energy Automobile, Gracell Biotechnologies, Beijing Sinoscience Fullcryo Technology, Intas Pharmaceuticals, Paytm, and Meesho also secured funding or made significant deals in the industry.
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