Recycling plastic is fantastic for this startup that got big funding

KiranaKart, FundPark, StarShine, and more raised funds this week. [Read from your browser]( FOMO Saturday Welcome to Tech in Asia's free Saturday VC newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- Hello {NAME} At first glance, this week’s top-funded firms appear to come from the usual industries - ecommerce, SME lending, and semiconductors. But then, an envirotech startup appears, and [Street Fighter’s “here comes a new challenger” jingle]( plays in my head. I recently wrote about how Indonesia’s fight with Thailand to [become the EV king of Southeast Asia]( is a battle that is likely to benefit everyone no matter who wins, if only because it encourages usage of EVs on a regional level. Similarly, seeing the envirotech firm (you’ll have to scroll down to see who it is; no free lunches here) snagging a sizable series A+ funding gives me some hope for the future of humanity. You can find all other important investment deals that happened in the last few days in our [weekly funding news wrap-up](. Let’s dive into the biggest deals that recently took place. -- Winston  --------------------------------------------------------------- THE BIGGEST DEALS BY COUNTRY  IN India-based KiranaKart operates Zepto, an e-grocery app. It has [raised US$665 million]( from new investors like Avra Capital, Lightspeed, and Avenir, as well as existing ones like Glade Brook, Nexus, and StepStone. HK FundPark, a Hong Kong-based SME lender, has raised US$250 million in debt funding from HSBC. CN StarShine is a Chinese semiconductor company. It closed a US$137 million series B fundraise, with China Mobile Capital and Wenzhou Bay New Area Industrial Investment Platform joining the round. AU Australian envirotech startup Samsara Eco has developed an enzymatic technology that recycles plastics. It bagged [US$65 million in a series A+ funding round]( led by Temasek and Main Sequence, an Australia-based deeptech investment fund. SG K-ID is a Singaporean global compliance engine that makes it easy for game developers and parents to ensure the safety and privacy of kids and teens online. It has closed a US$45 million series A round, securing investments from the likes of Andreessen Horowitz, Konvoy Ventures, and Lightspeed Venture Partners, among others. Here’s the complete list of this week’s funding chart: [73 deals worth over US$1.7 billion](.  ---------------------------------------------------------------  STARTUPS THAT ARE RAISING FUNDS Fundraising is hard. To make things slightly easier, we’ve compiled this list of fundraising startups for our subscribers. We are launching a [new feature]( to send fundraising startups directly to investors’ inboxes. There’s no better time to list your startup, and you can do so [here](. MY This Malaysian firm is a small satellite manufacturer providing IoT services. HK This Hong Kong startup designs, makes, markets, and operates electric public transport vehicles. ID This Indonesian firm provides omnichannel and supply chain technology solutions for enterprises to bring their product closer to customers. You can find the full list of fundraising startups in Asia [over here](.  ---------------------------------------------------------------  BEHIND THE GLASSWALL Fundraising often involves reaching out to multiple contacts, many of whom founders might not have dealt with before. To provide some transparency to this process, we created Glasswall, a platform for founders to give feedback and recommendations on investors. Check out the full list [here](. - ✅︎ “The team was incredible in terms of being transparent where we were in the process, and the information they asked in the due diligence made sense and also helped us founders in thinking about our business and KPIs strategically.” - [Read more]( - ❌ “Retracted term sheet to us. They don't have their own fund, they only ‘sell’ the investment to LPs after they have an extended term sheet. If they can't fund it, they pull it. Very mercenary folk; even during early convos already speaking of exits and divestment, even moot-ing personal guarantees for said divestment. Their POV is that as the ones holding the money you are answerable to them, they are not answerable to you. Avoid unless you have no other options.” - [Read more]( - ✅︎ “They don’t try to be the smartest, or pretend to know everything. Got turned down because they felt they did not understand the industry we are in enough and therefore felt they wouldn’t be able to add as much value as they like. It was a different experience compared to other VCs who may not have in-depth knowledge of what we are building and yet pretend like they do.” - [Read more](  --------------------------------------------------------------- LIMITED FOURTH-RELEASE TICKETS AVAILABLE Get your tickets before prices increase on July 1! The Southeast Asian tech community is abuzz with excitement, and Kuala Lumpur is the place to be this July. Tech in Asia Conference is bringing together over 2,000 of the region's brightest minds from leading companies like Cradle, AWS, Twilio, Antler, Odoo, NTT Global Business, and many more. This is your chance to network with industry leaders, discover new opportunities, and uplevel your professional development. [Secure your spot before time runs out](. There are less than 30 fourth-release tickets remaining, and prices will increase on July 1. Don't miss out on being part of this event.  ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](.  [Tech in Asia Conference Kuala Lumpur 2024 : Malaysia on The Rise on 24 - 25 July]( Hear from Nadini Joshi as she talks about the exciting possibilities of expanding beyond Asia, and gain valuable perspectives from Dave Ng on the current landscape and future potential of investing in Malaysia. Joel Neoh will share his experiences and insights on exiting the company he founded. Limited fourth-release tickets are available and prices will increase on July 1. [Secure your tickets today.Â]( [Tech in Asia’s Founders Meetup in Malaysia on July 25]( Dissect groundbreaking ideas presented at our flagship Kuala Lumpur conference, gain new perspectives from diverse minds, and solidify connections forged over shared passions at Founders Meetup. [Get your tickets now!]( [KL Conference Exclusive: Networking Night on July 24]( Seize the opportunity to connect with the brightest minds and most influential players in Asia's tech ecosystem, all while enjoying panoramic city views and delicious treats. This exclusive event is only open to Tech in Asia Conference Kuala Lumpur Pro Pass holders. [Secure your spot on our guest list today!]( [KL Conference Exclusive: After Party on July 25]( After two days of high-impact learning, join us at the official closing party to unwind, socialize, and celebrate the thriving startup scene in Malaysia. There’s no better way to do so than by immersing yourself in its vibrant energy firsthand. This exclusive event is only open to Tech in Asia Conference Kuala Lumpur Pro Pass holders. [RSVP now to secure your spot!Â]( [Tech in Asia Conference Jakarta on Oct 23-24]( Where is the next Silicon Valley? It might just be Jakarta! Indonesia's young tech talent is booming, and Tech in Asia Conference Jakarta puts you right in the center of the action. Join us at #TIAConferenceJKT to connect with 4000+ region's brightest minds, 150+ hottest startups, and hear straight from 80+ experts. Early-bird tickets are now available! [Snatch the 60% discount while it lasts!]( --------------------------------------------------------------- EXCLUSIVE LISTICLES Lists of most active investors in the region [China]( | [India]( | [Indonesia]( | [Japan]( | [Singapore]( | [Southeast Asia]( List of top-funded startups in Asia [China]( | [India]( | [Indonesia]( | [Israel]( | [Japan]( | [Hong Kong]( | [Singapore]( | [South Korea]( | [Vietnam](  ---------------------------------------------------------------  THOUGHTFUL READS  1️⃣ Consider the context Society has become extremely fast-paced and - at least in the media and content world - the name of the game appears to be engagement at all costs, which leads to the dominance of hot takes and ragebait. Nuance is sadly undervalued in our impatient lives. That also happens to be the case in f engineering management, according to Carta CTO Will Larson. He offers lessons on engineering leadership in [this article on First Round Review](. 2️⃣ Leadership is a matter of vigilance in self-reflection I officially took on a manager role in Q4 2022, and I’ve been on a journey of constant learning and challenges since. Don’t get me wrong: It’s been rewarding, but it’s almost like I’m back to square one. In many ways, it’s a completely different job, and wisely using the authority (both implicit and explicit) that comes with the role is a delicate balancing act. Anyway, I keep myself accountable with the help of my bosses and my direct reports as well as consistent self-reflection. Articles like [this one from Harvard Business Review]( also serve as reminders. 3️⃣ A short history of Nvidia Are you invested in Nvidia? I’m super glad I got in a few months ago, before the company’s recent bountiful gains in the stock market. However, I only “got in a few months ago” because it’s only recently that I started investing properly. I’ve long been aware of Nvidia’s work, and the firm should definitely not be seen as an overnight success [Read this article]( to find out how it grew over the course of decades. 4️⃣ How to start a business Apparently, entrepreneur Noah Kagan has founded multiple companies that are worth at least a million dollars, including software marketplace AppSumo (worth over US$80 million). On [this episode of Masters of Scale]( he talks about his experiences as an early employee at Facebook and Mint and how they’ve shaped his career journey. 5️⃣ Not quite Arnold and Danny Innovation is all about trying new things, but doing so blindly and without backup is just asking for disaster to strike. This is why digital twin companies are on the rise: They create virtual replicas of real-world assets to tinker and experiment with, and the technology is viable for a variety of uses including clinical trials, construction, and supply chain management. [This Pitchbook article]( looks at the top-funded digital twin firms in the world.  --------------------------------------------------------------- [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi. Today’s edition was written by Winston Zhang. It’s edited by Dhania Putri Sarahtika. Copyright © 2024 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894