The region’s startups raised $246m from 61 deals.
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US-based healthcare startup Abridge raises $150m for AI model for clinicians
Magna, Bajaj Auto invest $19m in Yulu and India deals worth $75m
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Malaysia-based Bintang Capital Partners said to be eyeing $75-150m for second fund
SG co-living startup Cove raises $3.36m via convertible notes
SG’s Climate Impact X receives $22m fresh funding from Mizuho, StanChart, others
Indonesia’s Alodokter bags $5.2m from HL Mando, Beacon VC
Investors started 2024 with a pinch of caution that steered them away from big-ticket transactions.
At 100, deal volume was up 32% over Dec when startups had scooped up $1.1b from 76 transactions.
The funding was buoyed mainly by the $634m that Lazada pocketed from parent Alibaba.
Greater China startups sealed 248 deals in Dec 2023—up 13.2% MoM. Yet, fundraising was down.
Growth-stage deals accounted for 75% of the deal value with $830m across 14 deals.
Deal volume was also the lowest so far this year.
There were six megadeals in the month, of which three were from the EV sector.
No megadeals were reported in the month.
Fundraising in the region hit below the coveted $1 billion mark for the seventh time this year in October.