Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- Perplexity AI Raises $73.6 Million: Perplexity AI, a startup focused on AI development, successfully raised $73.6 million in funding. Investors include Nvidia and Amazon founder Jeff Bezos.
- Microsoft’s New “Copilot Key”: In a major update, Microsoft announced the addition of a “Copilot key” to the Windows keyboard. This marks the first significant change in the device in nearly three decades.
- Vietnam Shines in AI Development: Experts believe that Vietnam is at the forefront of AI development in Southeast Asia. The country’s ecosystem is poised for growth, with the presence of large tech companies and government investments.
- Startup Closures and Layoffs: Several startups faced closures and layoffs in
- Funding dried up, leading to a decrease in mega-rounds and job loss for many employees.
- Edtech Sector Struggles: The edtech sector experienced challenges in various countries. While Indonesia saw the closure of several high-profile startups, Vietnam’s edtech sector showed resilience with multiple growth-stage transactions.
- Asia’s Venture Capital Investments in 2024: Despite the struggles of 2023, Asia can expect a slightly better year for venture capital investments in
- The region has adapted well to the high-interest rate environment and is poised for growth.
- Middle East Funds Dominate Investments: Middle East funds, particularly those from Saudi Arabia’s PIF, demonstrated significant appetite for deals in
- Investments in the region surpassed those of Singapore’s GIC and Temasek.
- Southeast Asia Focuses on ESG: Fund managers in Southeast Asia are placing greater emphasis on environmental, social, and governance (ESG) execution. Limited partners (LPs) are prioritizing sustainability in their investment strategies.
- Notable Deals and Fundraising: Highlights include Maya Innovations securing $80 million in funding, Swap Energy raising $22 million in a Series A funding round, and Creador-backed UNOAsia raising up to $15 million through a term loan.
- People News: Executives from various companies, including ONE Championship and BYJU’s, made notable career moves in the new year.
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