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Hello Betamax, A 2019 investment in SpaceX through a Dubai family office he managed prompted Chetan Mehta to look more closely at India's space sector while shaping the thesis for AUM Ventures' first fund. That process led him to meet founders, engage with members of the Indian Space Research Organisation, and eventually have Skyroot Aerospace as one of the fund's first spacetech investments. That early conviction now defines AUM Ventures. The India-focused deeptech VC has built a portfolio across spacetech, semiconductors, and robotics, making 24 investments so far. It is now preparing a larger second fund of around US$80 million, with a first close targeted by May. The timing is well-aligned with broader shifts. India's government is backing deeptech and manufacturing, while geopolitical tensions are pushing countries to rely less on imported technology and build local strength in areas such as chips, defense, and space. In today's top story, our interview with Mehta explains why AUM avoids crowded sectors and where he sees the strongest opportunities in India's deeptech ecosystem. He also shares advice for founders, such as on why they shouldn't raise too much capital too early. Samreen Ahmad, journalist |
TOP STORYVC founder outlines why he's doubling down on Indian deeptech  AUM Ventures, which has backed startups such as Skyroot, Cosmoserve Space, Azimuth AI, and Sanyark Space through its first fund worth US$23 million, is doubling down on India's deeptech sector with a new US$80 million vehicle. In this interview, Mehta discusses AUM Ventures' investment thesis and breaks down common issues that deeptech founders face. |
WHY AI ADOPTION ISN'T TRANSLATING INTO PRODUCTIVITYExclusive at Asia Economic Summit 2026  Across Southeast Asia, investments in AI, data, and talent are rising. But productivity outcomes remain uneven. The challenge is execution and how organizations align talent strategy, organizational design, and risk to deliver results. At the Asia Economic Summit 2026 on June 17, Bain & Company partner Mohan Jayaraman joins the roundtable discussion "Talent, technology, and risk: Gaps to workforce reality" to unpack the barriers to delivering productivity despite strong capability on paper. With over 27 years of experience in data science, AI, and digital capabilities across the Asia Pacific, his work focuses on building, operating, and scaling advanced analytics and machine learning capabilities across financial services and consumer sectors. This helps translate AI investment into operational and revenue outcomes. This conversation sits within a broader set of discussions at Asia Economic Summit 2026, where leaders will unpack shifts across capital, AI, and market dynamics. Explore the full agenda to see the breadth of topics covered. Regular tickets are now available at US$288 (from US$588). Seats are filling quickly. |
SPOTLIGHTChina blocks Meta's $2b Manus deal  Meta's US$2 billion acquisition of AI agent platform Manus in December was initially framed as a win for Southeast Asia's AI scene, after the China-founded company relocated to Singapore in a bid to sidestep regulatory scrutiny. That narrative has quickly fallen apart, with Chinese regulators blocking the deal yesterday. Multiple Chinese government agencies had been investigating the deal over issues ranging from export control rules to foreign investment and competition laws. Manus has come a long way from its agent struggling to get past CAPTCHAs to being relevant to national security. At the time of writing, Meta has yet to comment, but it's hard to imagine the company will be eager to unwind the acquisition. The ruling appears to drive a stake through the so-called "China-shedding" strategy that the likes of Manus, Shein, and ByteDance have pursued. We've reported on 16 other AI companies that have relocated to Singapore in what appear to be efforts to distance themselves from China, a strategy that now looks less reliable. Simply relocating, or even getting acquired, may not be enough to escape China's regulatory reach. Peter Cowan, engagement editor |
FROM OUR ARCHIVESAdd to bot: how AI agents could reshape online retail  Top Indian ecommerce platforms such as Flipkart, BigBasket, Ajio, and FirstCry are building AI storefronts for ChatGPT, Perplexity, and Google Gemini. The move supports their push into agentic commerce, where AI tools shop on behalf of users. This shows how the predictions made in this piece from January by Scott Shuey are already playing out. The story noted that OpenAI planned to launch Instant Checkout internationally, while Google had identified Indonesia as a target market for its Universal Commerce Protocol. Indian platforms are responding by building storefronts inside AI chat interfaces and preparing for agentic commerce. These agents can manage carts, recommend products, confirm pricing and delivery, and complete payments without users leaving the chat window. However, the AI platforms do not handle inventory or customer service, nor do they act as the merchant of record. If that model takes hold, AI platforms could become the interface, while ecommerce players are pushed toward a role as the underlying infrastructure. |
WHICH COMPANIES ARE TRULY DRIVING INNOVATION IN SINGAPORE?Apply for Singapore's Most Innovative Companies 2026  Tech in Asia and Statista are announcing the search for Singapore's Most Innovative Companies 2026. This initiative identifies firms across Singapore that are shaping how innovation is built and applied. Companies will be evaluated by Statista based on three criteria: innovation culture, product innovations, and process innovations. The final list of 100 to 200 companies will be compiled with input from Tech in Asia, drawing from our on-the-ground knowledge of Singapore's technology sector. Selected firms will be published on Tech in Asia and promoted across our channels, gaining recognition with clients, investors, and potential employees. There are no fees to apply or be listed. Applications close on May 1, 2026. Ready to be recognized among Singapore's most innovative companies in 2026? Apply here. |
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