INFOGRAPHIC: Top Asian Startup Funding — Week 12

• Pocket FM Secures $103M in Series D Funding
• Online Lender Akulaku Bags $100 Million Debt Financing from HSBC
• Ultrahuman Raises $35M in Series B Funding
• HiLabs Raises $39M to Enhance Healthcare Data Cleanup with AI
• Jumbotail Secures $18.2 Million in Series C3 Round
• Optimo Loan Raises $10M in Seed Funding

Pocket FM Secures $103M in Series D Funding

• Bengaluru-based audio series platform, Pocket FM has raised $103 million in its Series D round led by Lightspeed, with participation from Stepstone Group.
• Pocket FM offers long-form audio content, including shows, stories, and novels, fostering an exclusive content library by engaging with the writer community. The platform boasts over 100,000 hours of content, including 2,000 exclusive audio series and 400,000 episodes across genres and languages.
• With this round, Pocket FM's total funding reaches $196.5 million. The funding will drive expansion into the US, Europe, and LATAM markets.

Indonesian Online Lender Akulaku Bags $100 Million Debt Financing from HSBC

• HSBC, the London-based bank, has provided $100 million in debt financing to Akulaku, an Indonesia-based online lending platform. This injection of funds from HSBC marks a significant move for Akulaku, positioning the company to strengthen its foothold in Indonesia's competitive online lending market.
• Akulaku offers a range of financial services, including buy now, pay later (BNPL) options, virtual credit cards, wealth management, and digital banking through Bank NeoCommerce.
• With the new funding, Akulaku intends to bolster its financial position by paying off current debts, enhancing its services, and expanding its operations.

Ultrahuman Raises $35M in Series B Funding

• Indian Wearable tech startup Ultrahuman secures $35 million in a mix of debt and equity for its Series B round from investors including Blume Ventures, Steadview Capital, Nexus Venture Partners, and Alpha Wave, with participation from Zomato’s founder Deepinder Goyal.
• Ultrahuman offers a self-quantification platform featuring smart rings, glucose monitoring wearables, and blood testing products. The startup has experienced significant growth, becoming the second-largest player in the smart ring market while maintaining profitability. It competes with the likes of Levels Health, Super Sapiens and Oura globally.
• The funding will be used to expand manufacturing capacity and deepen research in health tracking.

HiLabs Raises $39M to Enhance Healthcare Data Cleanup with AI

• India-based HiLabs has secured $39 million in a Series B funding round led by Eight Roads Ventures and Denali Growth Partners, with participation from F-Prime Capital.
• Founded by Amit Garg and Neel Butala, HiLabs specializes in AI-powered healthcare solutions, particularly in processing and cleaning clinical data at unprecedented speeds.
• With this investment, HiLabs aims to further develop its MCheck technology and expand its product team to meet the growing demand for efficient healthcare data management.

Jumbotail Secures $18.2 Million in Series C3 Round

• Jumbotail, an India-based B2B marketplace and retail platform for food and grocery has raised $18.2 million in a Series C3 round led by Artal Asia Pte. Ltd., with participation from Heron Rock, Sabre Investment, Arkam Ventures, and others.
• Founded in 2015 by Karthik Venkateswaran and Ashish Jhina, it provides a comprehensive platform including a full-stack B2B marketplace, in-house warehousing, and last-mile delivery supply chain network. Additionally, Jumbotail offers a fintech platform that facilitates payment solutions, credit options, and financial services for Kirana store owners.
• The investment will scale Jumbotail's GTM products for new brands and expand its nationwide kirana store network in India. Additionally, leveraging AI-driven technologies, Jumbotail aims to boost customer wallet share and plans to hire across various functions.

Optimo Loan Raises $10M in Seed Funding

• Optimo Loan, an MSME-focused lending-tech startup, secures $10 million in its seed round led by Blume Ventures and Omnivore, with additional contribution from founder Prashant Pitti.
• Founded by Prashant Pitti, the Indian-based company provides quick, easy, and flexible financing options for MSMEs, supporting technology adoption, liquidity, and business continuity. The startup is also building a co-lending platform for MSMEs with a unique underwriting method.
• The funding will fuel expansion, technology enhancement, talent acquisition, and a presence in 20 rural locations in India by year-end.

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