Debt funding shows up in top 5 deals

SafetyCulture, InMobi, iSpace, 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} Just the other day, I was writing Tech in Asia’s daily newsletter and covering the story about Southeast Asian founders [warming up to venture debt](. To summarize, venture debt is often an attractive option because founders can generally avoid giving up equity, on top of the fact that many VCs are stricter in their investment requirements these days due to the funding winter. While I haven’t properly observed this phenomenon, the data doesn’t lie, and the article states that more founders prefer venture debt. As it so happens, one of the startups that snagged a position on our list of biggest deals by country this week took on venture debt. Can you guess which company it is? 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 and M&As that recently took place. -- Jonathan  --------------------------------------------------------------- THE BIGGEST DEALS BY COUNTRY AU SafetyCulture is an Australian startup that provides workplace health and safety products. It has raised US$109.7 million in its latest funding round from AirTree Ventures, Blackbird Ventures, and Morpheus Fund. IN Indian adtech firm InMobi has secured US$100 million in debt funding from Mars Growth Capital. CN Ispace, a Chinese spacetech company, has raised US$98.8 million in its series C and C+ rounds. The funds were from Xin Ding Capital, Huizhu Capital, Jingming Capital, Qianlima, and Sichuan Industrial Revitalization Development Investment Fund. KR South Korean startup Spoon Labs*, which develops content platforms, has secured US$90.1 million in strategic investment from Krafton. MY In its latest funding round, Malaysian coffee startup Zus Coffee has raised US$57 million from KV Asia Capital, Kumpulan Wang Persaraan, and PT Fastrata Buana. Here’s the complete list of this week’s funding chart: [76 deals worth over US$780 million](.  ---------------------------------------------------------------  M&As SG Lunch Actually and Paktor, two dating app companies based in Singapore, have announced a merger. Financial terms of the deal were not disclosed. AU Generation Entrepreneur, an edtech firm headquartered in Australia, has been acquired by the Australian School of Entrepreneurship for an undisclosed amount. KR AmazingCre is a South Korean ecommerce company. It’s been acquired by Grandeclip for an undisclosed sum. SG Singaporean fintech firm StakeWithUs has been acquired by Nansen. Terms of the deal were not made public. IN Return Prime, an Indian ecommerce startup, has been acquired by GoKwik. Financial terms are not publicly available.  ---------------------------------------------------------------  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 send fundraising startups directly to investors’ inboxes. There’s no better time to list your startup, and you can do so [here](. SG This Singaporean company is building AI-powered cybersecurity solutions. ID This Indonesian startup runs an online portal where users can participate in educational activities. SG This Singapore-based firm has developed an AI marketing intelligence platform. 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](. - ✅︎ “My interaction with Qin has been a rewarding journey and an eye-opener to the most crucial topics VCs consider while investing. He [handheld] us through a pivotal decision point for the company. Often times we found the team at Saison ready to connect and provide valuable network more than any of our current investors on a cap table.” - [Read more]( - ❌ "We were shoved to speak to a junior member of the team because a senior member was traveling. In the call, the member was obviously not listening to me and wanted the call to be over ASAP. He was very disrespectful and frankly a waste of time to speak to.” - [Read more]( - ✅︎ “Really enjoyed the meeting. Dimi is a breath of fresh air in a region where VCs are like sheep that say cookie-cutter stuff to founders. I was previously warned by others that Dimi can be very direct. But I actually like that he is. Since he doesn't chat shit and sugarcoat, I know that whatever he tells me is honest and thought through. Building something is already fuckin difficult so I don't need another VC massaging my ego. Had some interesting debates with him on our market and strategy, lots to think about.” - [Read more]( ---------------------------------------------------------------  CONNECT AND ADVANCE YOUR KNOWLEDGE AT SYNC 2024 Join us for in-depth discussions, inspiring demos, and invaluable networking Get ready to dive deep into the exciting world of AI at SYNC 2024! This year, we're bringing together industry leaders, rising startups, and passionate individuals to explore the latest advancements, challenges, and opportunities in AI across Asia. Prepare to be inspired by thought-provoking roundtable discussions where industry trailblazers will share their perspectives on the future of AI in Asia. Covering a wide range of topics, ranging from the impact of AI on various industries to the ethical considerations surrounding its development, these talks will offer valuable insights and spark engaging conversations. You’ll also get the chance to discover Asia's most promising AI startups at our demo discussion segment. Beyond the insightful programs, you will have ample opportunity to connect with fellow attendees, expand your network, and pick the brains of industry leaders and potential collaborators. With a high-touch luncheon and our signature closing cocktail session, you'll have plenty of time to bond with your new connections and build relationships that will last beyond the event. This exclusive event is by application only. Find out more about [SYNC 2024]( today.  ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. [Tech in Asia Conference Jakarta on October 23 - 24]( You’re missing out! Thousands of founders, investors, and executives from AWS, LINE, Sociolla, LinkedIn, East Ventures, OCBC Ventura, and more are already snagging their Pro Passes for TIA Conference Jakarta. The Pro Pass is your ticket to exclusive networking events, catered five-star meals, and on-demand session replays. But hurry, this pass is in high demand and sells out quickly. [Grab your Pro Pass now]( for US$131 before prices increase on September 19.  [Leadership Collective: Building at Scale on September 26]( Product people, ditch the handoff headaches and discover how cutting-edge tools are smashing silos between disciplines and fueling a new era of product development. Learn how to optimize workflows, empower teams with expanded skill sets, and accelerate product lifecycles. Seats are extremely limited - [apply now.]( [Gemini Day for Startups: Indonesia on September 26]( Join Google Cloud’s Evania Jiady along with industry leaders from 3Dolphins.ai, Alfabeta, and SPUN Global as they spill the tea on what works, what doesn’t, and how to get ahead in the AI game. Expect unfiltered insights, actionable strategies, and a clear vision for leveraging AI in your own startup. Limited seats available - [apply for your invite today.]( --------------------------------------------------------------- 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 Yummy lessons If you’re someone who eats fast food from time to time, chances are you’ve gone to a restaurant owned by Yum Brands. And now, you can digest some of the lessons imparted by its co-founder and former CEO, David Novak, in [this podcast episode](.  2️⃣ Circle of trust By now, it should be clear that influencers play a huge role in marketing, especially when it comes to B2C products. In this area, there seems to be a hidden factor at play, which can boost engagement even further. [This article on Harvard Business Review]( digs deeper into this subject.  3️⃣ Space for Noplace Move over millennials, everyone’s looking to capture the Gen Z market now. But those in the business world may be clueless about how to deal with Gen Zs. Tiffany Zhong, founder of social media app Noplace, shares more about [what Gen Z is looking for](.  4️⃣ The freemium conundrum Freemium has emerged as one of the most popular models for SaaS companies, but there’s a fine line between implementing it correctly and getting into a disaster. Here’s some insights into the most [common challenges with the freemium model]( and how to fix them.  5️⃣ Rules are meant to be broken A popular principle for tech firms, the “Rule of 40” suggests that a company’s combined revenue growth rate and profit margin should equal or exceed 40%. Does this rule hold up to closer scrutiny? [This post on Medium]( shares some data on it.  --------------------------------------------------------------- [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