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Welcome to another edition of 🔍 Startup Researcher - Asia, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌏️
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📰 Important News
- Binance appointed Yi He as Co-CEO alongside Richard Teng to boost global expansion and compliance as it pushed toward one billion users.
- OpenAI is reportedly in talks with TCS to build large-scale AI compute infrastructure in India through the Stargate India initiative.
- More than 270 Tokenize Xchange users launched a lawsuit against founder Hong Qi Yu and Erin Koo for $60.5 million after the platform collapsed.
- PhonePe shut its Pincode app after two years and as it shifts to B2B services for offline retailers.
- ByteDance launched an AI voice assistant powered by its Doubao model on a ZTE phone, competing with similar AI tools in China.
💸 Top Funding Rounds
- TsingMicro Intelligence raised over $282.7 million in Series C funding to advance AI chip development.
- Mujin secured $233 million from NTT Group and QIA to speed global expansion and productize MujinOS for next-generation industrial automation.
- Ultraviolette closed $45 million in Series E led by Zoho and Lingotto to scale the F77, develop the X 47, and expand new electric bike platforms.
- GenePlus Technology landed $42.4 million in Series D led by Shaoxing Yuecheng District and Beijing Changping funds to boost precision medicine.
- AITRICS secured $24 million in Series C to enhance VitalCare, develop V Doc Pro, and expand into Vietnam and Hong Kong after its Japan entry.
💰️ Notable Exits
- Meesho launched its IPO to raise up to $603 million and secured $270.6 million from 125 anchors despite pushback, reaching a $6 billion valuation target.
- UltraGreen.ai raised $400 million in Singapore’s biggest non-REIT IPO since 2017, priced at $1.45 and backed by major global investors.
- Zepto approved its shift to a public entity and is planning to file its DRHP, aiming for a June 2026 IPO with $450 to $500 million fresh issue.
- Momenta confidentially filed for a Hong Kong IPO as Chinese firms move away from US listings, with deal size and timeline undisclosed.
🏦 About Investors
- Nexus Venture Partners closed its $700 million Fund VIII to invest in early-stage AI, enterprise, consumer, and fintech startups across the US and India.
- Fireside Ventures secured $253 million for its fourth fund, backed by investors like ADIA and Fidelity, to invest in rapidly growing Indian consumer brands and capitalize on India's expanding retail sector.
- Aakrit Vaish, former Haptik CEO, and Pratyush Choudhary, ex-Together Fund partner, have launched Activate, an AI-focused VC fund with a $75 million corpus, aiming to invest in early-stage AI startups.
🚀Startup of the Week
Introducing our Startup of the Week 🏆
TsingMicro Intelligence
TsingMicro Intelligence, founded in 2018 in Beijing as a spin-off from Tsinghua University’s Microelectronics Institute, has rapidly become one of China’s most ambitious AI chip startups. The company builds CGRA-based TX5 and TX8 AI chips, delivering millions of units for intelligent computing centers, large AI models, autonomous driving, and smart security. Led by CEO Wang Bo, TsingMicro recently completed a Series C round exceeding $282.7 million, backed by Jingneng Group, Beijing Venture Capital Investment, CIC Investment, Wise Road Capital, and major returning shareholders. With major clients like State Grid, Alibaba, Tencent, Huawei, and SenseTime, the company is helping drive China’s push for advanced, efficient, and sovereign semiconductor innovation.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Nexus Venture Partners
Nexus Venture Partners, founded in 2006 with dual roots in Silicon Valley and India, has grown into one of the most influential early stage venture capital firms backing transformative AI, enterprise software, fintech, and consumer startups. The firm recently closed its $700 million Fund VIII, doubling down on AI-led innovation across both markets while continuing to invest from idea to scale. Led by partners such as Anup Gupta and co-founder Suvir Sujan, Nexus has built a portfolio that includes category leaders like Postman, Delhivery, Zepto, and Apollo. With a founder first ethos and a twenty year track record, the firm remains committed to shaping the next generation of global technology champions.
🤑Opportunity Radar
Call for Applications: The HAX Program
The HAX Program, run by SOSV, is a global accelerator for hard-tech startups building solutions in hardware, climate tech, health tech, industrial tech, energy, and AI. Founders gain access to investment, hands-on engineering resources, a world-class mentor network, and long-term venture support through SOSV’s multi-stage platform. The program targets pre-seed hard-tech teams with early prototypes and strong customer insight. Apply now to join a globally diverse community and accelerate your path from prototype to scale.
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