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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
- China formally added domestic AI chips from firms like Huawei and Cambricon to its official procurement list.
- South Korea’s Ministry of SMEs and Startups outlineda startup strategy centered on GPUs, regional deep tech hubs, global level pay, and VC reform.
- Groww secured an OBPP license from SEBI, enabling it to offer listed corporate bonds online and expand its fixed income investment offerings.
- South Korea launched a $102 billion Public Growth Fund combining state guarantees and private capital to scale AI, semiconductors, energy, and defense.
- PT Terra Drone Indonesia CEO Michael W W Siagian was named a suspect for negligence after Dec 9 Jakarta office incident.
💸 Top Funding Rounds
- Airwallex raised $330 million in a Series G to fund US expansion and AI development as it eyes a 2026 IPO.
- D3 Bio completed a $108 million Series B backed by IDG Capital SongQing and Temasek to fund global Phase III trials.
- SanegeneBio closed a $110 million Series B led by global investors including Eli Lilly to advance its RNAi pipeline toward pivotal studies.
- ChemLex secured $45 million in Series A funding led by Granite Asia to scale its AI driven autonomous chemistry platform.
- Indian digital lenderFibe raised $35 million from IFC in a Series F round to build a unified lending, saving, investing, and payments platform.
💰️ Notable Exits
- Meesholisted in Mumbai after a $603 million IPO valuing the company at $5.6 billion with demand exceeding 79x.
- Airwallex acquired majority ownership of Indonesia-licensed payments firm PT Skye Sab to deepen APAC licensing.
- AI CX platform Toku filed a preliminary prospectus with MAS for a Catalist IPO on SGX appointing PrimePartners and CGS International.
- Turn Capital acquired Taiwan fashion ecommerce platform FRND gaining full ownership of seven influencer-led brands with 1.2 million followers.
- Live shopping startup Channelize acquired enterprise livestream platform LiveScale and launched a $1.3 million public fundraising campaign.
🏦 About Investors
- Vision Knight Capital raised $566 million from local government funds boosting AUM to nearly $2.8 billion to invest in AI and life sciences.
- SeaTown Holdings secured about $900 million at the second close of its third private credit fund targeting a final size near prior $1.3 billion funds.
- Granite Asia raised over $350 million at first close of its Libra Hybrid fund anchored by Temasek Khazanah and INA.
- IAN Group closed its $100 million Alpha Fund to back early-stage tech startups in India with strong support from institutional and government-linked investors.
- Transition VC closed its debut fund at nearly $77 million to back early-stage energy transition startups in India.
🚀 Startup of the Week
Introducing our Startup of the Week 🏆
Airwallex
Headquartered in Singapore, Airwallex has grown into a global financial platform powering payments, banking, treasury, and spend management for borderless businesses. The company recently raised $330 million in a Series G led by Addition, with backing from T Rowe Price, Robinhood Ventures, and TIAA Ventures, lifting its valuation to $8 billion. Led by co-founder and CEO Jack Zhang, Airwallex is accelerating its US expansion by naming San Francisco as a dual global headquarters while advancing an AI roadmap focused on autonomous finance operations. With rapid revenue growth and rising global adoption, Airwallex is positioning itself as core infrastructure for modern international commerce.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Vision Knight Capital
Vision Knight Capital is a Shanghai-based private equity firm founded in 2011 by former Alibaba CEO David Wei, built on deep operational roots in China’s consumer and internet economy. Traditionally known for backing Anker Innovations and Pop Mart, the firm is now pivoting toward AI infrastructure, new consumption models, cross-border e-commerce, and life sciences. In its latest move, Vision Knight raised $566 million from local government guidance funds, lifting total AUM to nearly $2.8 billion. Led by Wei as chairman and founding partner, the firm positions itself as a long-term ecosystem builder, aiming to capture structural shifts driven by AI advancement, supply chain realignment, and evolving global demand.
🤑Opportunity Radar
Call for Applications: Y Combinator Spring 2026 Batch
Applications are now open for the Y Combinator Spring 2026 Batch, a globally recognized accelerator program for early-stage startups. The application deadline is 9 February 2026 at 8:00 PM PT, and the program will run from April to June 2026, taking place in person in San Francisco. Selected founders gain access to early-stage funding, hands-on mentorship from experienced startup partners, a powerful global alumni network, and investor introductions. Early-stage founders and startup teams can begin their application now to be considered for the Spring 2026 cohort.
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