A Recap on What Happened This Week: Asian Startup News Overview (June 26th - June 30th)

The Asian startup ecosystem has always been active, and this week was no exception. Currently, a slew of new startups are focusing on AI and digital transformation. Thanks to Open AI's chat GPT, as AI has been reintroduced to the general public and also new businesses have already sprung up as a result of this technology. It has benefited not only individuals but also businesses. AI-based businesses are already taking off, and investors are vying for a piece of the pie.

This week one of the largest investments of the year took place, Typeface attained the unicorn status. As digitization is the norm now, a lot of startups focused helping business digitally transform are venturing into the market to cater to this demand. And a brand new player named Nothing is booming in the Smartphone market by launching its feature- rich products.

The Five Startups that made fortune this week are-:

Typeface

Typeface, a generative AI platform for enterprise content creation, said later this week that it was valued at $1 billion after an oversubscribed Series B funding round led by Salesforce's global investment arm, bringing the total capital raised to $165 million.

The $100 million round also saw participation from Lightspeed Venture Partners, Madrona, GV (Google Ventures), Menlo Ventures, and M12, Microsoft's Venture Fund, the firm said.

Typeface, which provides a wide range of workflows across departments, including marketing, sales, product, and human resources, had signed strategic partnerships with Salesforce and Google this month to create highly customized content within their existing workflows.

Ampd

Ampd Energy, a pioneering business and manufacturer of energy storage devices based in Hong Kong, has acquired $8 million in Series A funding for global expansion.

MTR Lab Company Limited (MTR Lab) has teamed with technology investors 2150 and Taronga Ventures to co-invest in Ampd, according to a statement issued by Ampd on Tuesday.

This collaboration, according to the release, intends to accelerate Ampd's growth and alter the international construction industry with its all-electric replacement for diesel generators, advancing carbon neutrality targets and boosting sector sustainability.

Baskit

Baskit, a firm dedicated to digitising and developing distribution enterprises inside Indonesia's supply chains, has raised $3.3 million in seed funding. The latest round of funding comes only three months after the company raised $1.5 million in a Pre-Seed round.

Betatron Venture Group, Forge Ventures, Investible, 1982 Ventures, DS/X Ventures, Orvel Ventures, and Michael Sampoerna were among the regional and local investors who participated in the newest round. Baskit's ambitious expansion plans, technological stack development, and entry into new supply chain verticals will benefit from the funding.

Apeiron Energy

Apeiron Bioenergy, a leading integrated global bioenergy player, raised S$50 million on June 23 through the historic issuance of a 5-year senior unsecured green bond guaranteed by the Asian Development Bank's Credit Guarantee & Investment Facility ("CGIF") and an ASEAN+3 initiative to develop local currency bond markets.

The funds will be utilised to fund capital expenditures and asset improvements for waste-based feedstock collection points and pre-treatment facilities such as used cooking oil ("UCO") in the Philippines, Thailand, and Vietnam. The remaining will be used to meet normal working capital needs. The company's dedication to integrating environmental, social, and governance concerns into its operations will be demonstrated via Apeiron's Green Finance Framework, which has been endorsed by Sustainalytics.

Carl Pei’s Nothing

Nothing has raised US$96 million in funding ahead of the release of Phone (2) next month. According to sources, this brings the company's total funds raised to date to US$252.9 million.

Highland Europe led the fundraising, with participation from existing investors Google Ventures, EQT Ventures, and C Capital, as well as Swedish House Mafia.

When the startup's first product, wireless earbuds Ear (1), was released in August 2021, it received orders for 400,000 units. This was followed by the release of Nothing's Phone (1) in July 2022 and Ear (2) in March of this year.