Led by $500m venture financing of Black Sesame Intelligent Technology, total technology industry artificial intelligence venture financing deals worth $2.1bn were announced in Asia-Pacific in Q3 2022, according to GlobalData’s deals database.

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The value marked a decrease of 25.5% over the previous quarter and a drop of 42.8% when compared with the last four-quarter average of $3.62bn.

Asia-Pacific held a 29.45% share of the global technology industry artificial intelligence venture financing deal value that totalled $7.03bn in Q3 2022. With an 18.92% share and deals worth $1.33bn, China was the top country in Asia-Pacific’s artificial intelligence venture financing deal value across technology industry.

In terms of deal activity, Asia-Pacific recorded 220 artificial intelligence deals during Q3 2022, marking a decrease of 8.33% over the previous quarter and a drop of 9.56% over the last four-quarter average. China recorded 77 deals during the month.

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Asia-Pacific technology industry artificial intelligence venture financing deals in Q3 2022: Top deals

The top five artificial intelligence venture financing deals accounted for 47.8% of the overall value during Q3 2022.

The combined value of the top five technology artificial intelligence venture financing deals stood at $986.68m, against the overall value of $2.1bn recorded for the quarter.

The top five technology artificial intelligence deals of Q3 2022 tracked by GlobalData were:

1) Beijing Xinding Rongsheng Capital Management, El Camino Capital, GF Xinde Investment Management, Hanhai, Hina Group Fund, Industrial Bank, Northbeta Yinuo Capital, Summitview Capital and Yangzijiang Financial Holding’s $500m venture financing deal with Black Sesame Intelligent Technology

2) The $150m venture financing of RoboSense by China Structural Reform Fund and Mirae Asset Securities

3) HOPU Fund II, HOPU-Arm Innovation Fund, Shanghai guosheng (group), Vista Investments and ZGC Science City Science and Technology Growth Fund’s $148.68m venture financing deal with Iluvatar CoreX

4) The $100m venture financing of Geek+ by Intel Capital, Qingyue Capital Investment and Vertex Growth Fund

5) Aptiv and ZF Friedrichshafen’s $88m venture financing deal with (Korea) and Stradvision