The artificial intelligence play continues to heat up, with Goldman Sachs forecasting that global investment is set to exceed $1 trillion in 2026 alone.
Indeed, just in the first six months of this year, investors across PE, VC and private credit have directed some $8.8 billion toward AI-focused projects in emerging markets, according to data by the Global Private Capital Association. That is more than what was committed in the whole of 2025.
And markets across Asia are seeing some of the biggest tickets, even at the earliest stages.
This week, China’s embodied intelligence industry has recorded two more mega early-stage investments—in DISCOVER Robotics and PokeBot, at over $100 million each.
Singapore-based AI infrastructure startup Acrab has raised $130 million in a Series B round backed by existing investors Vertex Ventures Southeast Asia & India, and Vertex Growth.
Meanwhile, Singapore investor EDBI joined a host of investors including Peak XV, HarbourVest, JP Morgan Private Capital, and Qualcomm Ventures in a $700 million funding round for US-based infrastructure startup Lumilens.
The Series C round, which values Lumilens at $5.51 billion, was co-led by Atreides Management, Bain Capital Ventures, Meritech, Seligman Ventures, and Spark Capital.
In Japan, X Mile, a workforce and software platform serving the logistics, construction, and manufacturing sectors, has raised $22 million in a Series C funding round led by Vertex Growth, as it accelerates investments in AI and acquisitions.
Separately, one of the largest data centres in Japan is set to be built in the country’s north, at a cost of some $12.6 billion, backed by international investors including potentially Abu Dhabi’s Mubadala Investments.
In India, InRisk Labs, a technology-led risk and reinsurance platform, has raised $27 million in a Series A funding round co-led by Bessemer Venture Partners and Northpoint Capital. The proceeds will be deployed to strengthen its underwriting, actuarial, catastrophe-modelling and AI capabilities.
In Indonesia, telecom operator Indosat Ooredoo Hutchison has teamed up with Ooredoo Group, NVIDIA, and Nokia to launch an AI infrastructure venture targeting Southeast Asia.
Ooredoo Group will provide long-term capital and serve as the lead investor, while Indosat will contribute its domestic telecommunications infrastructure and operational capabilities. NVIDIA will supply accelerated computing technology, AI software and access to its ecosystem, and Nokia will provide networking infrastructure for the platform.
But AI ought to be seen as a catalyst for structural change across industries, and not so much as an investment thesis, as Takahiro Suzuki, General Partner at Tokyo-based VC Genesia Ventures told DealStreetAsia.
Funds and fundraising
The International Finance Corporation is set to invest up to $20 million, with an additional $20 million co-investment envelope, in Trident India Growth Fund I Trust, which provides growth capital to companies in India.
Indian electric two-wheeler startup River Mobility has raised $120 million in a mix of equity and venture debt. The Series C round is its first significant backing from Indian institutional investors, including Elev8 Venture Partners and Claypond Capital, who join a slate of global backers including Yamaha Motor Co., Mitsui & Co., Al-Futtaim Group, and Lowercarbon Capital.
Indonesia’s logistics startup Waresix has raised about $27.4 million from existing investors, upending its cap table.
In Greater China, startup fundraising for the three months to June 2026 crossed $26.7 billion – the highest in more than six years. So far this year, fundraising has already eclipsed what was secured last year. Details in this report.
However, funding conditions for startups remain challenging in India amid market discipline, although AI-labelled companies are attracting the bulk of capital, as Inflexor Ventures partner Pratip Mazumdar told DealStreetAsia in an interview.
Deals
Singapore-based private equity firm KV Asia is understood to be exploring a potential exit from Indonesian beauty and personal care company PT Victoria Care Indonesia.
In India, KKR has agreed to acquire Medicover India’s hospital business from Sweden-listed healthcare provider Medicover at a valuation of $1.4 billion.
Fintech financials
Grab Holdings recorded a significant jump in its second-quarter profits from a year earlier, which has allowed it to raise its full-year guidance and announce a new $750-million share repurchase programme. But its financial services business remains in the red, as its self-imposed deadline of turning the segment profitable by H2 2026 looms.
Mynt, which runs the Philippine fintech unicorn GCash, posted record quarterly revenue in the three months to June, ahead of its planned blockbuster listing. Mynt also contributed a higher share of parent Globe’s profit before tax in the six months.
And, a look into what the implications are of Sea Ltd-backed MariBank’s approval to become a digital bank in the Philippines.
Don’t miss also:
More than 18 months after DealStreetAsia first broke the news of the massive accounting fraud at Indonesia’s eFishery, the liquidators of eFishery’s Singapore holding company have distributed around $21.6 million to investors—the first confirmed return of capital. Liquidators are also reviewing a plan to use eFishery’s intellectual property as the foundation for a new business.
Finally, this analysis into how developments in Vietnam have private investors rethinking exit routes in what was once the hottest IPO market in Southeast Asia.
