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… infrastructure</h3>
Sogni AI, a decentralized image generation platform, has reportedly received USD 2 million in a funding round co-led by Comma3 Ventures and Republic Ventures, according to <a href="https://www.investing.com/news/stock-market-news/exclusive-ai-image-generator-app-sogni-ai-secures-2-mn-at-25-mn-valuation-3920309">Investing.com</a>. Other investors include Contango Digital, Oyster Ventures, ARC, DEXT Force Ventures, Nosana, Formless Capital, Gecko Ventures, and industry veterans.
The funding will accelerate the development of Supernet, a decentralized physical infrastructure network designed to optimize AI-driven content creation. Sogni AI claims Supernet offers rendering speeds significantly faster than traditional cloud services by distributing AI workloads across a decentralized network.
The company is valued at USD 25 million following the latest round and aims to democratize AI-driven content creation by reducing reliance on centralized AI models, potentially lowering costs and improving accessibility for creative professionals.
<h3>Choco Up and Wonder Capital partner launch private credit fund for APAC SMEs</h3>
Choco Up, a Hong Kong-based growth financing platform, has partnered with Wonder Capital Group, an independent investment management firm, to launch a USD 50 million private credit fund targeting asset-light small and medium enterprises in the Asia Pacific region.
The initiative has completed its first close at USD 10 million, backed by the CMAG Private Credit Fund led by Wonder Capital. The fund will provide non-dilutive, revenue-based financing solutions for e-commerce, software-as-a-service, and technology companies.
<figure id="attachment_152167" aria-describedby="caption-attachment-152167" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-152167" src="https://console.kr-asia.com/wp-content/uploads/2025/03/Choco-Up-Wonder-Capital-MOU-Signing-Ceremony-1024x683.jpg" alt="Photo from the ceremony where Choco Up and Wonder Capital Group signed a memorandum of understanding to jointly launch the private credit fund." width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2025/03/Choco-Up-Wonder-Capital-MOU-Signing-Ceremony-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/03/Choco-Up-Wonder-Capital-MOU-Signing-Ceremony-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2025/03/Choco-Up-Wonder-Capital-MOU-Signing-Ceremony-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/03/Choco-Up-Wonder-Capital-MOU-Signing-Ceremony-1536x1024.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/03/Choco-Up-Wonder-Capital-MOU-Signing-Ceremony.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-152167" class="wp-caption-text">Photo from the ceremony where Choco Up and Wonder Capital Group signed a memorandum of understanding to jointly launch the private credit fund. Photo courtesy of Choco Up.</figcaption></figure>
<h3>Flagright secures seed funding, Y Combinator among investors</h3>
Flagright, an anti-money laundering (AML) and risk management platform, has secured USD 4.3 million in a seed funding round led by Frontline Ventures, with participation from Y Combinator, Pioneer Fund, Moonfire Ventures, and other fintech investors.
The company provides real-time transaction monitoring, automated case management, and AI-powered risk scoring to help financial institutions reduce false positives and improve alert investigation times. Flagright said it currently serves customers across six continents with its banking-grade compliance platform.
The new funding will support Flagright’s expansion into North America, with new offices in New York and San Francisco, and the launch of its “AI forensics” solutions.
whereRelatedArticle
<h3>Airwallex, Finory, StarFive, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Airwallex, a cross-border payments and financial platform, agreed to acquire CTIN Pay, a licensed intermediary payment service (IPS) provider in Vietnam. The acquisition is pending customary closing conditions.</li>
<li aria-level="1">Finory, a Malaysian personal finance management app, raised an undisclosed sum of investment from 1337 Ventures.</li>
<li aria-level="1"><a href="https://www.starfivetech.com/en">StarFive Technology</a>, a Chinese chip design company backed by Baidu, raised an undisclosed sum from Hong Kong Investment Corporation Limited (HKIC).</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Agros and Phnxx raise funding, GlobalData acquires Ai Palette, Malaysia’s Khazanah backs chargEV, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Malaysia

Australia

Hong Kong

Oceania

On March 1 and 2, discussions surrounding Youku’s alleged new policy—limiting television series to a maximum of 12 episodes or requiring them to air in full within a year—went viral on Chinese social media platforms like Weibo and Zhihu.
However, a source familiar with the matter at Youku dismissed these claims as rumors, clarifying that the platform is not enforcing a strict 12-episode cap on its self-produced or commissioned dramas. “There are just too many watered-down dramas, so we’re cutting back on excessive content,” the source said. The person also noted that iQiyi and Tencent Video have been making similar moves. iQiyi’s Light On series, for instance, is known for its shorter episode counts and more condensed storytelling.
While Youku has not officially confirmed a sweeping change in policy, industry insiders have been discussing its shift toward shorter dramas since the second half of 2024. According to The Paper, several ongoing projects have reportedly been asked to reduce their episode counts to align with this trend.
For years, bloated dramas have been a fixture across both streaming platforms and traditional TV networks in China. The reason? Business incentives.
Historically, drama licensing fees were calculated on a per-episode basis. To maximize profits, production companies frequently padded their scripts with unnecessary content, stretching a 30-episode story into 50 episodes or more. Longer dramas also meant more advertising slots, helping offset high licensing fees and gargantuan actor salaries.
But this practice has sparked growing backlash from audiences frustrated with filler content, dragging storylines, and redundant flashbacks. The National Radio and Television Administration (NRTA) has also been tightening regulations, making it clear that overinflated dramas are no longer viable.
Now, with streaming platforms shifting toward revenue-sharing models instead of per-episode licensing, the incentive to artificially extend shows is disappearing.
Beyond regulatory pressure, another major factor driving shorter dramas is the explosive rise of short-form content.
For years, high production costs and long payback periods kept major streaming platforms in the red. It wasn’t until around 2022 that many finally started turning a profit. But just as they began recovering, a new competitor emerged: short dramas.
With their bitesized episodes and fast-paced storytelling, short dramas are quickly capturing audiences’ attention, particularly among younger viewers. This shift is forcing traditional long-form content providers to adapt, making their narratives tighter and more engaging to compete.
In response, major platforms have taken defensive measures. One clear sign of this shift is the dedicated short drama sections now appearing on homepages, featuring high-quality content to differentiate themselves from competitors. Another strategy? Reducing episode counts for long dramas.
According to 36Kr, all major platforms have been working to shorten their series. In 2023, Tencent Video introduced its “X Theater” series, with most shows capped at under 20 episodes.
At the Weibo Vision Conference in November 2024, Youku vice president Xie Ying revealed that over 50% of users stop watching a drama within the first five episodes, and the completion rate for most series hovers around just 20–30%. This data further reinforces the need for a shift toward tighter storytelling.
As viewing preferences evolve, long-form dramas are incorporating the fast-paced storytelling techniques commonly found in short dramas. Some of these experiments have already seen remarkable success.
For instance, the director of the hit drama The Double previously worked on short dramas and brought the genre’s condensed storytelling style into the longer format, resulting in strong market reception. Other standout examples include iQiyi’s Light On, the 12-episode thriller The Bad Kids, and Tencent Video’s To The Wonder, which was just eight episodes long. All were praised for their gripping narratives and commercial success.
Industry data reflects this shift. According to Enlightent, the total number of newly released Chinese dramas in 2024 amounted to 7,610 episodes, marking a 14% year-on-year decline. The average drama length dropped slightly to 28.1 episodes, down by 0.8 episodes from the previous year. Additionally, the proportion of dramas falling within the 21–28 episode range grew to 37%, an eight percentage point increase from 2023.
This suggests a clear trend: while ultra-long dramas are fading in popularity, mid-length series (21–28 episodes) are emerging as the new industry standard.
For years, Youku’s most iconic long-form drama has been Empresses in the Palace, a sprawling 76-episode epic released in 2011. But the platform is now officially embracing the industry’s shift toward shorter content.
As audience tastes evolve and streaming platforms refine their strategies, the future of long-form content in China will likely be defined by a balance between immersive storytelling and the efficiency demanded by modern viewers.
Whether this trend signals the end of multi-season sagas or simply a new phase in content evolution remains to be seen. But one thing is certain: in an era where attention spans are shrinking, the days of needlessly stretched-out dramas are numbered.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3193104528859525">article</a> was written by Lan Jie for 36Kr.

Youku trims drama episode counts as shorter formats take hold

Entertainment

Short Video

Video

Creative

Content

… temper expectations before exceeding them.
Still, the competition isn’t standing still. Since Tesla’s FSD launch, media and users have run various tests. Li Auto CEO Li Xiang even claimed that his company’s AD Max system required fewer interventions than Tesla’s FSD.
whereRelatedArticle
<h3>Can the Cybertruck reignite Tesla’s momentum?</h3>
Tesla has one more big move planned for China in 2025: the <a href="https://kr-asia.com/the-cybertruck-took-four-years-to-deliver-but-it-could-mark-teslas-leap-into-a-new-technological-era">Cybertruck</a>.
A Tesla insider told 36Kr that bringing the Cybertruck to China is a key objective this year.
The all-electric pickup has been a hot topic for years. Elon Musk once claimed Cybertruck reservations had surpassed one million, and third-party estimates suggest that figure has now exceeded two million.
But actual deliveries tell a different story. According to international media and research firms, Tesla only delivered around 35,000–50,000 Cybertrucks in 2024—far from the hype.
<figure id="attachment_146921" aria-describedby="caption-attachment-146921" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-146921" src="https://console.kr-asia.com/wp-content/uploads/2023/12/Tesla-Cybertruck-3-1024x683.jpg" alt="Image of the Cybertruck." width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2023/12/Tesla-Cybertruck-3-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2023/12/Tesla-Cybertruck-3-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2023/12/Tesla-Cybertruck-3-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2023/12/Tesla-Cybertruck-3-1536x1024.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2023/12/Tesla-Cybertruck-3.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-146921" class="wp-caption-text">Image of the Cybertruck. Image source: Tesla.</figcaption></figure>
Pickup trucks have never been a mainstream choice in China, but the Cybertruck’s futuristic design and bold innovation could reignite excitement for Tesla among younger consumers.
Tesla originally built its brand as an industry disruptor. But as China’s homegrown automakers continue to push boundaries, Tesla is starting to look more like the conservative option.
With pricing, features, and overall experience, Chinese EVs have caught up with—and in some cases, surpassed—Tesla. While the company welcomes competition, both the Model Y and the Tesla brand now face their toughest challenge yet.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3194198941613700">article</a> was written by Xu Caiyu for 36Kr.

Tesla’s refreshed Model Y lands in China as rivals close in

Tesla

Transportation

Electric Vehicles

Mobility

… adoption, however, may take longer. “If breakthroughs occur in 2025, we could see AI glasses and in-car assistants gain significant traction,” he said.
whereRelatedArticle
<h3>Is the market overreacting?</h3>
Compared to the slower-moving A-share market, Hong Kong’s tech stocks have been on a tear. In February alone, the Hang Seng Index surged 13.4%, the Hang Seng China Enterprises Index gained 14.02%, and the Hang Seng Tech Index soared 17.88%.
This outperformance stands in stark contrast to global markets. Over the same period, the Dow Jones fell 1.6%, the Nasdaq declined 4%, and the S&amp;P 500 dropped 1.4%. The FTSE 100 rose slightly by 1.88%, while Japan’s Nikkei 225 slid 5.97%.
So, is Hong Kong’s rally a rational response to DeepSeek’s impact, or is it just speculative hype?
According to Luo Jiaming, a fund manager at Zhong Ou Asset Management, the surge is primarily driven by tech stocks. “DeepSeek represents a major breakthrough in AI, fundamentally reshaping how investors view China’s technological capabilities,” he said.
Despite the rally, valuations remain reasonable. Data from Wind shows that as of March 5, the Shanghai Composite Index had a price-to-earnings ratio of 14.37, while the CSI A500 Index’s ratio stood at 14.54—both still near historical lows.
With earnings season approaching, investors will soon see whether DeepSeek’s impact is reflected in corporate fundamentals.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3194379899092361">article</a> was written by Wang Hanyu for 36Kr.

China’s AI moment? DeepSeek rally lifts markets, but doubts persist

East Asia

Artificial Intelligence

Deep Tech

Artificial intelligence

Japanese companies are pouring money into the US not only in the traditionally big-spending manufacturing sector, but also in such growth industries as artificial intelligence, giving Tokyo more economic contributions to highlight to Washington.
Japan ranked as the largest foreign direct investor in the US for a fifth straight year in 2023, according to data from the US Department of Commerce—a point that Prime Minister Shigeru Ishiba emphasized on February 7 in a news conference with US President Donald Trump.
"Japan is the closest economic partner of the United States," Ishiba said. Japan will work to boost foreign direct investment in the US to USD 1 trillion, he said—up from nearly USD 800 billion at the end of 2023.
The automotive industry has remained a core driver of this spending. Toyota Motor and trading arm Toyota Tsusho have built a nearly USD 14 billion automotive battery factory in North Carolina that is slated to begin shipping out cells this April. Honda Motor, which plans to start manufacturing electric vehicles in the US this year, is spending USD 1 billion on to upgrade production facilities in Ohio.
Other investment has been spurred by the growing US appetite for Japanese food. Nissin Foods Holdings will in August start up its first new instant ramen production facility in the US in 47 years, and Kikkoman is building a soy sauce plant in Wisconsin scheduled to start shipments in the autumn of 2026.
The AI and semiconductor fields are expected to see particularly strong activity. SoftBank Group reportedly plans to contribute JPY 3 trillion (USD 20 billion) to the Stargate project, a joint AI infrastructure development project with ChatGPT developer OpenAI and Oracle. Investments will total USD 500 billion, according to SoftBank chairman and CEO Masayoshi Son.
The drive to develop AI will also be a tailwind for chips. Sumitomo Chemical expects to begin mass production of cleaning fluids used in chipmaking at a new factory in Texas in fiscal 2025.
Materials maker Resonac Holdings is opening a Silicon Valley facility to develop and evaluate cutting-edge chip assembly processes.
The weak yen and labor shortages could be negative factors when companies decide whether to invest in the US. Using funds earned in yen to invest would incur higher costs.
"The US unemployment rate is at a historic low," said Kazuma Kishikawa of the Daiwa Institute of Research. "The challenge is whether companies can secure labor and increase production."
Trump's use of tariffs to gain leverage in trade negotiations is increasing uncertainty for Japanese companies and their supply chains. "Hasty investment decisions are generally risky," said Keisuke Hanyuda, managing director and CEO of Owls Consulting Group.
This article first appeared on <a href="https://asia.nikkei.com/Business/Business-trends/From-Toyota-to-Nissin-Japan-companies-open-spigot-on-U.S.-investment">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

From Toyota to Nissin, Japan companies open spigot on US investment

… protecting South Korea.
The claims resonated in Daegu, a city of 2.3 million that is a bastion of conservatism and Yoon's ruling People Power Party. During South Korea's economic boom years of the 1970s and 1980s, the city received generous government investments that created the regional manufacturing base of giants like Hyundai, Samsung, and POSCO that fueled the country's economic rise.
What drew Yoon supporters' ire to the Homeplus outlet where Shin works was a decision by her and some other workers to wear buttons supporting impeachment, as well as their union activities. Shin said the city's conservative political character and innate distrust of labor unions make it harder to recruit members to negotiate with management.
In early February, a union representing mart workers filed a complaint with police over harassment they say workers have faced from Yoon supporters.
The union told police that members of far-right groups had converged on marts to threaten and verbally abuse workers, and had taken photos of them that they circulated in far-right online forums, leading to online harassment.
Changes in the retail sector away from brick-and-mortar stores and toward online platforms have worsened conditions at outlets big and small.
"Jobs in retail are under threat now because of the rapid growth in the volume of online shopping," said Chung-Ang University's Lee.
The Korea Chamber of Commerce and Industry said late last year that sales at big-box retailers had grown only 1.2% per year in the decade from 2014 to 2024, trailing far behind the 13% growth seen by online shopping platforms and 10% at convenience stores.
The chamber said the fast-growing platforms had benefited from changes in consumer habits spurred by the coronavirus pandemic and the overall advancement of digitization. "Large marts have become less competitive due to the rise in one- and two-person households and long-standing restrictions on their operations," the chamber concluded.
In an effort to boost mart sales, Daegu in early 2023 became the first municipality nationwide to repeal a legal order requiring marts to close on two Sundays a month. The law had been put in place to guarantee workers time off with their families, and to attempt to steer customers toward smaller retailers, like neighborhood grocery stores.
Daegu's city government argued that changing the regulation to require marts to close on two weekdays a month, while remaining open every Sunday, would benefit consumers by making it easier to shop on weekends and lead to increased sales.
But for workers in the sector, never having a guaranteed Sunday off is another thorn in their sides as they attempt to balance work and family.
"My daughter works during the week and only has weekends off. When I have to work weekends, it means I don't see her for weeks at a time," said Yang Eun-young, a worker with 20 years of experience at an Emart in Daegu.
"This kind of work, the long hours standing, the repetitive manual tasks, is hard on our shoulders, our knees, and for women our age who are going through menopause, the irregular schedule makes it hard to establish a rhythm and get decent sleep," Yang, 56, said.
Still, for Shin, labor rights in South Korea have markedly improved since she entered the workforce.
She recalled how years ago workers in her store dared not push back against directives—however rude or pedantic—from their supervisors. Back then she even had to ask permission to go to the restroom during work hours.
How would she react if a supervisor forced her to do that nowadays? "I'd punch him," she said with a chuckle.
This article first appeared on <a href="https://asia.nikkei.com/Spotlight/Big-in-Asia/South-Korea-s-gender-chasm-Women-still-consigned-to-dim-job-and-life-prospects">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

South Korea's gender chasm: Women still consigned to dim job and life prospects

Chinese enterprise cloud software provider Kingdee has officially opened its regional headquarters in Qatar's Free Zones, marking its initial entry into the Middle East. This move is part of Kingdee’s broader strategy to establish a foothold in the Middle East and North Africa (MENA) region.
The decision to set up operations in Qatar follows a substantial investment from the Qatar Investment Authority (QIA), which injected approximately USD 200 million into Kingdee in December 2023. This investment underscores Kingdee's leading role in China's enterprise cloud transformation and aligns with QIA’s goal of backing technology and digitalization heavyweights.
Kingdee plans to utilize Qatar as a strategic gateway to expand its footprint across the MENA region. With over three decades of experience, the company reportedly serves about 7.4 million businesses in 172 countries. Kingdee’s software solutions span financial management, supply chain optimization, and production operations.
Kingdee’s expansion into Qatar is backed by key local institutions, including the Qatar Investment Authority (QIA), Invest Qatar, and the Qatar Free Zones Authority (QFZ). In addition to QIA’s investment, Invest Qatar—the country’s main investment promotion body—seeks to accelerate Kingdee’s growth within the Free Zones and beyond. It will achieve this by providing insights into the regional business and market landscape while facilitating tailored connections where relevant.
In a statement, Mohammed bin Hamad bin Faisal Al-Thani, CEO of QFZ, said the partnership with Kingdee, established through the latter’s MENA entry via the Free Zones, represents “the final wave of the Qatar National Vision 2030.” He added that its integration will help “accelerate digital transformation and strengthen Qatar’s position as a gateway for next-generation solutions to drive economic diversification and sustainable growth.”
Founded in 1993, Kingdee is a publicly traded company listed on the Hong Kong Stock Exchange (HKEX).

Can China’s Kingdee turn Qatar into its MENA gateway?

Qatar

… Capital Investment increased their stakes. GS Biotech will use the funds to construct a production facility in Jiangsu. —<a href="https://36kr.com/p/3190289484259464">36Kr</a></li>
<li aria-level="1">Memsilicon, a chipmaker developing new resistive random-access memory (RRAM) and artificial intelligence computing solutions, has raised close to RMB 100 million (USD 14 million) in an angel funding round. Jinqiu Fund led the investment, with additional backing from Lenovo Capital and Xiaomi. —<a href="https://36kr.com/p/3191661388980611">36Kr</a></li>
<li aria-level="1">AstronStone, a commercial space tech company, has raised tens of millions of RMB in an angel funding round led by KylinHall Partners, with participation from Yingtan Aerospace and Shuimu Tsinghua Alumni Seed Fund. The funds will be used to accelerate R&amp;D for its reusable liquid-fueled rockets. —<a href="https://36kr.com/p/3189976512061316">36Kr</a></li>
<li aria-level="1"><a href="https://www.hydwinrobotics.com/">Hydwin</a>, an industrial solutions provider, has raised an eight-figure RMB sum in a Series A funding round. The round was led by a major port group, with continued backing from Seas Capital. Yirong Capital acted as the financial advisor. Founded in 2021, Hydwin specializes in ultra-high-pressure components and AI-powered cleaning solutions for shipbuilding and chemical industries. —<a href="https://36kr.com/p/3160379916982789">36Kr</a></li>
<li aria-level="1"><a href="https://www.newtrials.com.cn/#/">New Trials Medical Technology</a>, a digital clinical research platform, has raised tens of millions of RMB in a Series A+ funding round from Zhejiang’s “4+1” biomedicine and high-end equipment fund, Sherpa Healthcare Partners, and HongShan’s seed fund. The funds will accelerate its expansion and the deployment of its clinical trial platform. Established in 2020, New Trials digitizes trial processes, focusing on remote monitoring and patient reimbursement solutions for pharmaceutical companies and contract research organizations (CROs). —<a href="https://36kr.com/p/3181815389312130">36Kr</a></li>
<li aria-level="1"><a href="https://www.fuche.bio/">Future Bio</a>, a biotech startup focused on AI-driven materials innovation, has raised a seven-figure USD sum in an angel funding round led by Glory Ventures, with participation from K2VC, XtalPi, Capital O, IMO Ventures, and Leap Capital. Future Bio will use the capital for team expansion and pilot testing. The company has also formed an AI research partnership with XtalPi to advance material and process development. —<a href="https://36kr.com/p/3180431900823942">36Kr</a></li>
<li aria-level="1">Zhongxin New Carbon, a high-performance carbon materials manufacturer based in Xiamen, has secured an undisclosed amount of Series A funding from Xiamen Hi-tech VC. The proceeds will go toward capacity building, R&amp;D, marketing, and the construction of continuous carbon fiber production lines for military and civilian applications. —<a href="https://36kr.com/p/3184308424531329">36Kr</a></li>
<li aria-level="1"><a href="https://getech.cn/en/">GeTech</a>, a provider of AI-powered industrial solutions, has raised a nine-figure RMB sum in a Series C round of financing. The funding was provided by Optics Valley Financial Holding Group and Optics Valley Industrial Investment, among other investors. The capital will be used to expand its core businesses and acquire industrial AI companies. GeTech was founded in 2018 as a spinoff from TCL. —<a href="https://36kr.com/p/3182870770079105">36Kr</a></li>
<li aria-level="1"><a href="http://supervision-med.com/#/home">Super Vision Technology</a>, a medtech company, has completed a Series B funding round, bringing its total financing to the nine-figure RMB range. The company is developing novel treatments for congenital nystagmus (CN), a neurological eye condition affecting vision. The investors include Tsingstone Capital, Fosun Health Capital, Lapam Capital, Chang Development, Yuanpei Investment and Development, and Tsinghua Innovation Ventures. —<a href="https://36kr.com/p/3182819634108544">36Kr</a></li>
<li aria-level="1">Giantest Electronics, a semiconductor testing solutions provider, has secured over RMB 100 million in a Series B+ funding round. The funding was led by Chengdu Capital Group, with participation from Chengdu’s major industrial equity fund, Chengdu Tianfu Innovation Fund, and CyberNautea. —<a href="https://36kr.com/p/3180722297050246">36Kr</a></li>
<li aria-level="1">Yaoshun Technology, an edtech company, has secured several million RMB in an angel funding round. The investment came from Dino Fund, a joint venture between HongShan and VIPKid, along with a private education founder’s fund. Established in 2024, Yaoshun develops AI-powered phonics learning devices for children. —<a href="https://36kr.com/p/3181384358499465">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>Bumame, Kredivo, SmartSolar, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Bumame, an Indonesian healthcare startup, raised an undisclosed pre-Series A funding round led by Alpha JWC Ventures, with participation from 500 Global and Kopital Ventures.</li>
<li aria-level="1">Kredivo Group, a digital financial services provider in Southeast Asia, acquired GajiGesa, an Indonesian earned wage access (EWA) platform.</li>
<li aria-level="1">SmartSolar, a Vietnam-based startup, emerged from stealth with USD 1.85 million in seed funding, co-led by Picus Capital and 2degrees, with support from Iterative.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Airwallex expands into Vietnam with CTIN Pay acquisition, Finory and Darwinbox raise funding, 16 new China deals, and more

Indonesia

India

… started offering more scholarships for medical students and the parliament in 2023 passed a law allowing the recruitment of foreign specialists. But Sadikin said granting foreign doctors a license to practice in Indonesia remained tough.
This is largely because of resistance from the Indonesian Medical Association, or IDI, which demands that foreign recruits speak Indonesian and the recruitment be based on a "clear mapping" of needs.
"In principle, IDI has never rejected foreign doctors," the association's deputy chairman, Mahesa Paranadipa Maikel, told Nikkei. "IDI is just reminding [the government] … that there should be no welfare disparity between Indonesian and foreign doctors."
"Defense and security aspects also need to be considered … including access to health data and information," he added.
Sources familiar with the development of BIH, who spoke to Nikkei on condition of anonymity, suggested that the difficulty in attracting foreign recruits was contributing to the delayed opening, which was originally planned for 2023. The Bali hospital has indicated it intends to hire at least nine foreign specialists, but no practice license has been granted to any so far, according to one anonymous source.
Pertamedika IHC, the parent company of BIH, previously flaunted Mayo Clinic as its main partner for the project. But in 2023, the US hospital operator clarified that it would only serve in a consulting role and would not be involved in the operations.
"BIH should have been operational by now to serve as a foundation for other clinics, allowing them to rely on it for patients' medical checkups," one of the anonymous sources said.
The management of BIH and Pertamedika did not respond to Nikkei's requests for comments.
Despite the setback, InJourney continues to develop the area, investing 10 trillion rupiah into the project.
It has built a 5,000-delegate-capacity convention center and is revamping two beachfront hotels that are already open. It is also looking to host eight privately run clinics offering services ranging from stem cell treatment and geriatric care to hair transplants and plastic surgery.
InJourney CEO Maya Watono told Nikkei that foreign clinics are partnering with local health providers to build these centers and expected to bring "significant investment to the region." They include Germany's Alster Lake Clinic, which will build a cellular and antiaging therapy facility, and Malaysia's Alpha IVF, which will offer fertility treatments.
Christine Hutabarat, CEO of Hotel Indonesia Natour, InJourney's hospitality arm, estimated additional investments of up to IDR 10 trillion (USD 612 million) would be needed. "The Sanur aims to become the top choice for wealthy Indonesians seeking world-class medical treatment by early 2027."
Felicia Thje, a businesswoman from Surabaya, East Java, said she had been going to South Korea for aesthetic treatments, spending at least IDR 60 million (USD 3,672) for each procedure.
"Skin care and plastic surgery in South Korea really feel like self-care. The clinic takes care of everything, from accommodation, meals, and recovery, until I'm ready to go home," Thje said.
She added she might consider going to Bali instead, but wants to hear reviews from others first to see if "the services and results of treatments in Sanur ... match those in South Korea."
This article first appeared on <a href="https://asia.nikkei.com/Spotlight/ASEAN-Money/Indonesia-makes-1bn-health-care-bet-to-keep-rich-patients-at-home">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Indonesia makes billion-dollar health care bet to keep rich patients at home

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