Mega-rounds and megabucks

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Hello Betamax,

When I saw this week's funding data, my eyes popped out of my head. I haven't seen a number like this - with nine whole digits - in our weekly funding roundup in a very, very long time.

All this is thanks to one company: Moonshot AI. The Chinese firm raised US$2 billion. Yes, you read that right. Billion.

Several articles note that while funding numbers are rising, much of this growth comes from "mega-rounds," in which a handful of companies (typically the AI ones) get the biggest slices of the pie. While it's great news for the firms in question, it does make me wonder about the impact this will have on the rest of our ecosystem - and on the verticals that are underfunded.

You can find all other important investment deals from the last few days in our weekly funding news wrap-up.

Let's dive into the biggest deals and M&As that have recently taken place.

-- Stefanie

THE BIGGEST DEALS BY MARKET

🇨🇳 Moonshot AI has built a chatbot upon its proprietary large language model. Based in China, it has raised US$2 billion in series D money from China Mobile, Long-Z Investment, and Tsinghua Capital.

🇮🇱 Frame Security uses AI to run attack simulations and security training for businesses. Hailing from Israel, which is located in West Asia, the firm has bagged US$50 million in seed money from Index Ventures, Picture Capital, Team8, cybersecurity executive Assaf Rappaport, and solo venture investor Elad Gil.

🇰🇷 Caring is a South Korean startup offering senior care services. It has secured US$27.2 million in a series C round backed by undisclosed investors.

🇹🇭 Konvy is a beauty ecommerce platform from Thailand. It has bagged US$22 million in series B money from Cool Japan Fund and Insignia Ventures Partners.

🇮🇳 HrdWyr is a fabless chip startup headquartered in India. It has raised US$13 million in series A money from Avatar Growth Capital, Ideaspring Capital, Persistent Ventures, and Singularity AMC.

Here's the complete list of this week's funding chart: 60 deals worth over US$2.4 billion.

M&AS

🇦🇺 Australia-based The Mintable, which offers leadership training programs, has been acquired by organizational design and leadership consultancy Humankind. The financial details of the deal were not disclosed.

🇮🇩 M Bloc Group, a venue offering live events, creative hub facilities, commercial space, and public gathering areas in Indonesia, has been acquired by consumer tech platform IDN. The deal's financial terms were not revealed.

🇸🇬 S Cube Capital, an investment firm based in Singapore, has been acquired by financial services company InCred Capital for an undisclosed sum.

PUT YOUR STARTUP IN THE SPOTLIGHT

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We're trying something new: You share your story, and we turn it into a Startup Spotlight article using generative AI. The article is then reviewed by editors, published, and promoted like any other story.

Here's a look at some of the startups we've put in the spotlight recently:

BabySea aims to turn fragmented AI model execution into a single, reliable system.
PharmKulen is a startup digitizing Cambodia's pharmacies.
Sedifly is an edtech firm aiming to democratize access to elite higher education.

Want to see your startup or portfolio company here next? Just fill in this form.

BEHIND THE GLASSWALL

Fundraising often involves reaching out to several contacts, many of whom founders might not have dealt with before. To provide some transparency to this process, we created Glasswall, a platform for founders to give feedback and recommendations on investors. Check out the full list here.

✅︎ "Very straightforward to talk to, clearly shares what they like and what worries them about the business model, open about where they can help and where they won't be able to." - Read more
❌ "[Investor] takes your data room and literally disappears. Do not bother. First, it was investing from their main fund, then the narrative was changed to a sub-fund. Then it was complete ghosting. Absolutely unprofessional." - Read more
✅︎ "Professional, no nonsense, methodical, expert legal due diligence, fair and practical." - Read more

A SNEAK PEEK INTO OUR TIA CONFERENCE LINEUP

Lead the enterprise AI era

The era of AI experimentation is ending. The market is moving decisively toward a new reality: deploying AI at scale. In this next phase, the competitive edge belongs to those who can move past the pilot phase and integrate intelligence into the very core of their operations.

To get the conversation started, we are excited to confirm that leaders from global giants like Heineken and HSBC, alongside regional powerhouses such as Fairprice Group and AI Singapore, have already joined our 2026 lineup to share their journeys from ambition to production outcomes.

Join 1,500 of the region's most serious enterprise leaders and builders as we move beyond the sandbox.

Ticket sales are now open. Get your early bird tickets here.

EXCLUSIVE LISTICLES

Lists of most active investors in the region

List of top-funded startups in Asia

THOUGHTFUL READS

1️⃣ Google, the investor

The tech giant's earnings for the first quarter of 2026 reflected its position not only as an AI winner but also as a savvy investor. It reported net income of US$62.6 billion for the March quarter, and more than half of that came from unrealized gains on equity positions - of which SpaceX and Anthropic were likely the overwhelming contributors. This piece from MarketWatch explores this - and what it means - in more detail.

2️⃣ Look to the future

The World Economic Forum has launched The Future of Venture Capital: Unlocking Liquidity and Growth, a report that brings together industry leaders to identify collaborative opportunities that can strengthen the global VC ecosystem and fuel innovation worldwide. Check it out here.

3️⃣ Making the most of the CVC boom

Japan's corporate VC landscape has seen a lot of growth, but there's still a lot holding it back. Investors will need to overcome the challenges of conservative governance, weak labor mobility, and the fear of failure to propel the country to the global tech stage. This article from Global Venturing goes deeper.

4️⃣ One year with AI

In this episode of the Pioneers of AI podcast, journalist Joanna Stern looks back at her one year with the tech. She embedded AI into every aspect of her life: her doctor appointments, her kids' toys, and even her romantic relationships. Now she shares what she learned from the experience.

5️⃣ Efficiency vs. resilience

In our world today, everything is about efficiency. But these efficient systems don't have room for error, so when something goes wrong, things get chaotic quickly. This piece from the Sloan Management Review offers insights into how we can build resilience into business operations to manage the disruptions that will inevitably come our way.

EVENTS HAPPENING

You can also check out our curated list of trending tech events and Tech in Asia's signature events.

Two regional ministers, one stage

On June 17, two of Southeast Asia's digital ministers - Indonesia's Meutya Hafid and Singapore's Josephine Teo - will discuss how the region can strengthen its tech foundations to support AI-driven growth at scale. Join the leaders defining Southeast Asia's next decade at the Asia Economic Summit 2026.

View the full agenda and reserve your seat now. Seats are limited to 250 delegates and selling fast.

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[Beta]MaxMind

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