We identified eight qualifying merger transactions across South and Southeast Asia’s startup ecosystems between January 1 and September 30, 2026, spanning sports and wellness, enterprise software, dental technology, MedTech, fintech, healthtech, insurtech, and AI-powered software engineering. Seven of the combinations were completed or became operationally effective during the period, while one remained an announced merger pending completion as of the cutoff date.
India was involved in six of the eight transactions, Singapore in two, and Nepal in one. Three transactions were cross-border: Zenyum and MakeO connected the Singapore and Indian startup ecosystems, VWO and AB Tasty combined Indian and French enterprise-software businesses, and Healthify and Berry Street brought together Indian and U.S. healthtech companies.
Methodology
This analysis covers qualifying startup and scaleup mergers with a substantive public merger milestone between January 1 and September 30, 2026. Eligible milestones include the public announcement of a new merger or amalgamation during the period, as well as the completion, consolidation, or operational implementation of a previously announced merger during 2026.
Transactions announced during the covered period but subsequently withdrawn, terminated, or cancelled on or before September 30, 2026 are excluded. Transactions that remained pending as of the cutoff date are included.
To qualify, a transaction must involve at least one startup or scaleup whose primary entrepreneurial ecosystem is in South Asia or Southeast Asia. Primary ecosystem is assessed using where the company was built, its founders and early operations, its principal market presence, and how the business is consistently associated with a particular startup ecosystem.
A qualifying startup or scaleup is an independently founded, innovation-driven company built around a scalable product, technology, platform, or business model. Traditional SMEs, agencies, consultancies, established financial institutions, state-owned companies, conventional corporate groups, and startup-origin companies that have matured into established corporations are excluded unless credible evidence establishes a continuing startup or scaleup identity.
Acquisitions, joint ventures, partnerships, asset purchases, stake purchases, internal reorganizations, and SPAC transactions primarily designed to take companies public are excluded. Transactions primarily structured and presented as acquisitions are also excluded when the acquired company is subsequently merged into or amalgamated with the acquirer as part of the legal implementation. When the transaction parties explicitly characterize the combination itself as a merger or amalgamation, that characterization is recognized even when the legal mechanics involve shares, holding-company structures, subsidiaries, or other implementation arrangements.
Transaction values are included only when a monetary value is explicitly attributed to the merger itself. Revenue figures, premium books, fundraising amounts, company valuations, capital injections, and other operating or financial metrics are not treated as merger values.
The 8 Merger Transactions Across South and Southeast Asia’s Startup Ecosystems
7Padel MS Dhoni and PadelPark India Merge
On January 7, 2026, Indian padel businesses 7Padel MS Dhoni and PadelPark India announced their merger, creating a unified national platform focused on expanding the sport across India. MS Dhoni joined the merged business as a partner, combining his consumer-facing padel venture with PadelPark India’s broader sports infrastructure and operating platform.
PadelPark India remained the principal operating business following the combination, while 7Padel MS Dhoni continued as its consumer-facing padel brand. The structure brings together court infrastructure, bookings, coaching, tournaments, community development, and branded padel venues within a broader PadelPark India ecosystem.
VWO and AB Tasty Merge Under Wingify
India-founded digital-experience software platform VWO and France-based AB Tasty combined during 2026 to create a larger global digital-experience optimization company. The businesses initially announced their planned combination on January 20 and subsequently completed the merger, bringing both platforms into a unified organization under the Wingify identity.
The merger combines capabilities across experimentation, personalization, customer insights, feature management, commerce optimization, and customer engagement. In September 2026, the businesses introduced Wingify as their shared brand and launched a unified platform, with their existing tools and capabilities progressively coming together within the broader organization.
Zenyum and MakeO Toothsi Merge
Singapore-based dental technology company Zenyum and India-based MakeO Toothsi announced a strategic merger in February 2026 and subsequently combined to create a larger Asian consumer dental group. The merger brought together two technology-enabled dental businesses with operations spanning clear aligners, digital dentistry, oral care, clinical networks, and related consumer dental services.
Both Zenyum and MakeO Toothsi continued as consumer-facing brands following the transaction rather than being replaced by a single new brand. The combined group is headquartered in Mumbai, while Singapore remains an important hub for its Southeast Asian and North Asian activities, allowing the businesses to maintain their established market identities within a broader organization.
City Wallet and Chhito Paisa Merge
Nepalese fintech companies City Wallet, which operates CityPAY, and Chhito Paisa completed their merger process in April 2026. The combination brought together two digital-payment businesses offering mobile wallets and related payment services in Nepal, with customers and operations subsequently consolidated onto the broader CityPAY platform.
City Wallet remained the surviving business following the combination, while Chhito Paisa’s operations and users were integrated into CityPAY. The transaction therefore created a larger digital-wallet platform without establishing a separate new corporate or consumer identity for the combined operation.
Invitrocue, Angsana and Pathnova Merge
Singapore-based Invitrocue announced its merger with Angsana Molecular & Diagnostics Laboratory and Pathnova Laboratories on April 8, 2026, creating an integrated cancer-diagnostics group. The combination brought together Invitrocue’s precision-oncology capabilities with Angsana’s molecular diagnostics and Pathnova’s diagnostic and screening technologies.
The transaction created a group structure in which Invitrocue serves as the holding company while Angsana and Pathnova continue as wholly owned subsidiaries. Rather than eliminating the participating businesses or converting them into consumer sub-brands, the merger preserved the operating companies beneath the wider Invitrocue Group while combining complementary oncology and diagnostic capabilities.
Healthify and Berry Street Merge
Indian healthtech company Healthify and U.S. nutrition-care startup Berry Street announced on August 24, 2026 that they had merged to create a global metabolic-health company. The combination paired Healthify’s artificial intelligence-powered nutrition and wellness technology with Berry Street’s U.S. network of clinicians and insurance-covered nutrition and metabolic-care services.
The merged business retained different established brands across its main markets. Berry Street continues as the operating brand in the United States, while Healthify remains the brand across India and other markets where it has an established consumer presence. Healthify founder Tushar Vashisht and Berry Street founder Noah Kotlove became co-CEOs of the combined company.
InsuranceDekho and RenewBuy Merge
Indian insurtech companies InsuranceDekho and RenewBuy consolidated their businesses by September 1, 2026, creating a unified nationwide insurance-distribution platform. The combination brought together their technology, distribution networks, insurer relationships, and complementary geographic footprints across India.
The integrated business operates under the InsuranceDekho brand and is led by InsuranceDekho founder Ankit Agrawal, while founders and leadership from both businesses remain involved in the combined organization. Unlike combinations that preserve multiple consumer brands, InsuranceDekho emerged as the principal brand of the merged operation, with RenewBuy incorporated into the wider platform.
IMSS and OpenTurf Technologies Merge to Form Ariviti
On September 30, 2026, Bengaluru-based Integra Micro Software Services and OpenTurf Technologies announced their merger to form Ariviti, an AI-focused software engineering and digital-transformation company. The combination brings together IMSS's enterprise software and technology-operations capabilities with OpenTurf's cloud-native product engineering, technology consulting, Virtual Technology Office model, and enterprise AI capabilities. The combination also incorporates OpenTurf’s TurfAI platform, which enables enterprises to orchestrate AI and automate business workflows.
The companies said the combined business would operate under the Ariviti identity and be headquartered in Bengaluru. Existing client engagements, delivery teams, and service commitments would continue during the integration, while the terms of the transaction were not disclosed. As of the September 30 cutoff, the merger remained subject to customary closing activities.
The eight transactions show that startup consolidation across South and Southeast Asia in 2026 has taken several different forms. City Wallet and InsuranceDekho emerged as the principal platforms in their respective completed combinations, while PadelPark India retained the broader operating identity with 7Padel MS Dhoni as its consumer-facing brand. IMSS and OpenTurf Technologies took a different approach, announcing plans to combine under the new Ariviti identity.
VWO and AB Tasty introduced the shared Wingify brand and platform, bringing their digital-experience capabilities into a progressively integrated offering. Other mergers preserved multiple businesses or brands within broader organizations. Zenyum and MakeO retained their consumer identities, Healthify and Berry Street maintained separate brands across different geographic markets, and Angsana and Pathnova continued as subsidiaries under Invitrocue. Together, the transactions show that mergers across the region are being used to consolidate companies and combine technology, distribution, market access, and operating capabilities across domestic and international startup ecosystems.