Artificial intelligence-based voice startup Skit, previously known as Vernacular.ai, has mopped up $23 million as part of its Series B funding round led by WestBridge Capital, per an announcement. The financing also saw participation from Kalaari Capital and Exfinity Ventures, Angelist syndicate led by Aaryaman Vir Shah from Prophetic Ventures, and LetsVenture syndicate led by… Continue reading India: WestBridge Capital leads $23m funding in voice AI startup Skit …
Author: Deal Street Asia Online News
South Korea passes bill to curb Google, Apple dominance in payments
South Korea‘s parliament on Tuesday approved a bill that bans major app store operators such as Google and Apple from forcing software developers to use their payment systems, effectively stopping them from charging commissions on in-app purchases. It is the first such curb by a major economy on the likes of Apple Inc and Alphabet Inc’s… Continue reading South Korea passes bill to curb Google, Apple dominance in payments
Chinese state firms said to take big stake in Ant’s credit-scoring JV
State-backed firms are set to take a sizeable stake in a key Ant Group asset for the first time, three people told Reuters, in a move that will loosen the Chinese fintech giant’s grip on a data treasure trove of over 1 billion users but help revive its IPO. The partners plan to establish a personal credit–scoring firm, said the people, adding that such a… Continue reading Chinese state firms said to take big stake in Ant’s credit-scoring JV
Didi, JD.com employees get unions in watershed moment for China’s tech sector
Chinese ride-hailing giant Didi Global Inc has set up a union for its staff while e-commerce powerhouse JD.com has also established one – landmark moves in the country’s tech sector where organised labour is extremely rare. Regulators in China have come down hard on its biggest technology firms this year, criticising them for policies that exploit workers and infringe on consumer rights in addition to… Continue reading Didi, JD.com employees get unions in watershed moment for China’s tech sector
Singapore-based VC True Global Ventures closes fourth fund at over $100m …
Singapore-based venture capital firm True Global Ventures (TGV) has made the final close of its fourth fund at more than $100 million, the firm announced on Wednesday. TGV 4 Plus, a blockchain-focused equity fund, was launched in 2019 with its general partners pitching in the initial $12 million, TGV partner Kelly Choo told DealStreetAsia. After… Continue reading Singapore-based VC True Global Ventures closes fourth fund at over $100m …
Vietnamese online pharma marketplace BuyMed raises $8.8m in new round …
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India: Medical devices maker Healthium buys CareNow in third acquisition this year …
Healthium Medtech, a global player in medical devices, on Wednesday announced the acquisition of CareNow Medical Private Limited, strengthening its product portfolio with patented and differentiated products in the advanced wound management and infection prevention segments. This is the third acquisition by Healthium this calendar year. Earlier this year, Healthium had acquired the AbGel business… Continue reading India: Medical devices maker Healthium buys CareNow in third acquisition this year …
Chinese semiconductor firm Hefei SINEVA bags $93m led by CMBI, Cowin Capital
Hefei SINEVA Intelligent Equipment Co., Ltd, a maker of intelligent equipment based on semiconductors, has raised 600 million yuan ($93 million) in equity financing. The funding was jointly led by CMB International (CMBI), the Hong Kong subsidiary of China Merchants Bank; and Cowin Capital. Other investors in the round included US-based Walden International; Ping An’s… Continue reading Chinese semiconductor firm Hefei SINEVA bags $93m led by CMBI, Cowin Capital
Lightspeed China looking to raise $850m across two vehicles, show SEC filings
Premium Lightspeed China Partners, an early-stage venture capital (VC) firm that manages over $2 billion, is planning to raise $850 million across two new funds, show two separate filings it made to the US Securities and Exchange Commission (SEC) on Tuesday. Go to Source
Paytm to transfer its payments business to a new subsidiary
The company is to convene an extraordinary general meeting (EGM) on 23 September to seek shareholder approval for setting up Paytm Payments Services Ltd that will house its online payment aggregator and payment gateway business. In the letter to shareholders, One97 Communications said the transfer of its payments business will be made on a slump… Continue reading Paytm to transfer its payments business to a new subsidiary