AI gets specific

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Hello Betamax,

An idea that often comes up when we talk about AI is that the next wave of big AI companies will be the ones with domain expertise. Firms like OpenAI and Anthropic have already made their mark with more general large language models. However, the real challenge will be in building models and solutions that can address specific real-world pain points.

We're seeing that today in the startups topping our funding list. While all of them have "AI" somewhere in their company descriptions, they're using the tech for specific use cases, ranging from communications to diagnostics.

At the end of the day, the old wisdom still holds: If you're building something that solves real problems, opportunities abound.

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

🇨🇳 GigaAI is an AI data engine developer. Based in China, it has raised US$143 million in a series B round from China-Belgium Direct Equity Investment Fund, Fosun RZ Capital, Huacang Capital, JICC, Lion Capital, and Wanxiang Qianchao Co., Ltd.

🇲🇾 Respond.io is a Malaysia-headquartered company that offers customer conversation management software. It has bagged US$62.5 million in series B money from Camber Partners and Endeavor Catalyst.

🇦🇪 Based in the United Arab Emirates, CNTXT AI is a data-first AI firm that helps organizations prepare, build, deploy, and scale localized AI solutions while maintaining data sovereignty. It has raised US$60 million in series A funding from BlueFive Capital and ai71.

🇮🇳 A commercial solar power company hailing from India, SolarSquare Energy has bagged US$55 million in a series B round. Participating investors included B Capital, Elevation Capital (SAIF Partners), and Lightspeed Venture Partners.

🇦🇺 Everlab is a healthtech company offering a subscription-based platform for preventive care. Headquartered in Australia, it has raised US$46 million in series A funding from Airtree, Left Lane Capital, Plural, b2venture, and Australian cricketer Pat Cummins.

Here's the complete list of this week's funding chart: 63 deals worth over US$3 billion.

M&AS

🇦🇺 CarPlace is an Australian online platform for buying and selling used cars. It has been acquired by automotive marketplace Carro for an undisclosed sum.

🇰🇷 Petpeotalk (Dogibogi) is developing a solution that analyzes the abnormal behaviors of companion animals and what's causing them. The South Korean firm has been acquired by AI pet healthcare startup Limpid, though the financial details of the deal have not been disclosed.

🇮🇱 Payments company Payoneer is headquartered in Israel, a country in West Asia. It has been acquired by financial services firm Nuvei for US$2.75 billion.

PUT YOUR STARTUP IN THE SPOTLIGHT

Want your startup featured on Tech in Asia?

We're trying something new: You share your story via a quick survey, and we turn it into a Startup Spotlight article.

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

Finute turns public engagement into immersive virtual environments on platforms like Roblox.
Prospero is a startup aiming to automate regulatory compliance across the Association of Southeast Asian Nations.
DCGPac is an Indian startup that operates an AI-enabled packaging and warehouse ecosystem for large enterprises.

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.

✅︎ "They have the right balance of asking the right questions and trusting the founders to keep empowering and enabling the founders to be successful." - Read more
❌ "Messy internal process and systems; in the end, it just petered out, as no one knew what was going on." - Read more
✅︎ "They understand what's important and are able to cut through the fog. If nothing else, the fundraise process itself will help you learn about your own business better." - Read more.

SINGAPORE'S FINTECH BENCHMARK IS RISING.

The industry is evolving. So is the benchmark.

Singapore's fintech sector is entering a new phase, with innovation expanding across payments, digital assets, enterprise fintech, insurtech, neobanking, wealthtech, alternative financing, and regtech. As the industry matures, the bar is rising for the companies defining how financial services are built, delivered, and scaled in the local market.

That is what Singapore's Top Fintech Companies 2027 aims to spotlight. Organized by Tech in Asia and Statista, the list recognizes companies developing or providing innovative, tech-backed financial products and services in Singapore. Last year, over 500 companies were evaluated, reflecting the depth and competitiveness of the local fintech ecosystem.

If your company is shaping the next chapter of fintech in Singapore, this is your opportunity to be considered among the industry's leading players.

Apply now to compete for a place among Singapore's Top Fintech Companies 2027.

EXCLUSIVE LISTICLES

Lists of most active investors in the region

List of top-funded startups in Asia

THOUGHTFUL READS

1️⃣ VC in the age of superintelligence

The rise of AI - and the potential for superintelligence - has raised some questions: What do you invest in when AI can solve everything? What is the investor's role in this world? This piece from VC firm NFX dives into the topic, exploring the role VC plays in the development of this next frontier of human innovation.

2️⃣ The cleantech opportunity

Cleantech remains an important sector today. VC firms in Asia are paying closer attention to businesses in this space as climate risks, energy demand, and industrial growth accelerate. This article from The Edge Malaysia looks at how four VC firms are approaching the sector and their investment theses.

3️⃣ Beyond the investment

Corporate VC (CVC) has long been seen as an investment function. However, operational capability has become increasingly important as CVC firms work to support larger funds, more complex portfolios, and deeper engagement with stakeholders. In this piece from Global Corporate Venturing, Natalie Fonseca Licciardi, managing partner and COO at Toyota Ventures, shares how CVC firms can take on this challenge.

4️⃣The price of automation

What do we risk losing to AI? In this episode of the Pioneers of AI podcast, host Rana el Kaliouby and Virtual Human Economy founder Natalie Monbiot tackle this question. Together, they explore what's really at stake when we rely on AI to think, what makes us indispensable at work, and what parts of ourselves we shouldn't leave in the hands of AI.

5️⃣Bye-bye, PayPal Ventures

PayPal is winding down its venture arm, PayPal Ventures, as part of a major restructuring led by new CEO Enrique Lores. This comes shortly after the closure of Fidelity International Strategic Ventures, the corporate VC unit of Fidelity International, which could indicate a trend. Read more in this piece from Tech Funding News.

EVENTS HAPPENING

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

A sneak peek into our TIA Conference lineup

To get the TIA Conference 2026 conversation started, we are excited to confirm that leaders from global giants like Heineken, HSBC, Singtel, 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.

First release ticket sale ends on June 21. Get yours today.

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