Indian ride-sharing giant Ola plans to raise up to $1 billion through an initial public offering (IPO) and is finalising banks to advise on the fund-raise, three sources told Reuters, becoming the latest startup to join the capital markets boom. Ola, backed by Japan’s SoftBank Group, has roped in Citigroup, two people with direct knowledge of the… Continue reading SoftBank-backed ride-sharing company Ola said to prepare for up to $1b India IPO
Author: Deal Street Asia Online News
Mubadala joins Dutch same-day delivery platform Dostavista’s $35m Series C round
Amsterdam-based same-day delivery platform Dostavista, the operator of MrSpeedy in Southeast Asia, has raised a $35 million Series C investment and re-branded itself as Borzo. Investors in the Series C round include Abu Dhabi state fund Mubadala, Swedish tech investor VNV Global, Russian Direct Investment Fund, and the UK-based Flashpoint Venture Capital. The company has… Continue reading Mubadala joins Dutch same-day delivery platform Dostavista’s $35m Series C round
Chinese regulator says it will tighten oversight of sharing economy
China’s market regulator said on Monday it would step up oversight of the so-called sharing economy, where consumers share access to goods and services often with the help of an online platform. The move by the State Administration of Market Regulation (SAMR) is the latest in a drive by Beijing to strengthen control over its… Continue reading Chinese regulator says it will tighten oversight of sharing economy
Asia Digest: Korea’s Urbanbase bags $11.1m; Australia’s Relectrify raises funds …
Korea’s Urbanbase, which develops VR and AR tools used in interior planning and design, has raised $11.1 million of fresh funds, while Australia’s Relectrify has raised a growth investment round. Urbanbase bags Series B+ funding Seoul-based Urbanbase, which develops 3D spatial tools, has landed $11.1 million in a Series B+ funding round led by new investor… Continue reading Asia Digest: Korea’s Urbanbase bags $11.1m; Australia’s Relectrify raises funds …
People Digest: Binance Australia appoints CEO; SG’s UOB adds two directors
Cryptocurrency major Binance has appointed Leigh Travers as its Australia chief executive officer while Singapore’s United Overseas Bank has announced two directors joining its board. Binance Australia appoints CEO Binance has appointed Leigh Travers as its Australia chief executive officer (CEO), according to an announcement. The appointment follows Binance Singapore naming Richard Teng, a former… Continue reading People Digest: Binance Australia appoints CEO; SG’s UOB adds two directors
CCV leads $20m round for Huanyu Guanai and other deals from Greater China
Research Health insurance platform Huanyu Guanai said on Monday that it has secured $20 million in a Series B round of financing led by China Creation Ventures (CCV), a Beijing-based investment firm focused on the technology, media, and telecom (TMT) sector. Go to Source
Shopee dips toe in India’s e-commerce market with recruitment campaign
Singapore-headquartered Sea Ltd’s Shopee has launched a recruitment campaign for vendors to sell on what it called “Shopee India” and is ramping up hiring in the country, according to Youtube videos and job postings. “Shopee is coming to India!” announces a video posted earlier in August that promises free shipping and no commission fees for… Continue reading Shopee dips toe in India’s e-commerce market with recruitment campaign
China Digest: BAI leads $15m funding in Dalezhuang; Sequoia backs Lead Digital
Construction technology platform Dalezhuang has secured over 100 million yuan ($15 million) in a pre-Series A round of financing led by Bertelsmann Asia Investments (BAI), while Sequoia China Seed Fund has led a nearly $10 million pre-Series A round for Lead Digital. BAI leads over $15m in funding in Dalezhuang Dalezhuang, a cloud-computing platform for… Continue reading China Digest: BAI leads $15m funding in Dalezhuang; Sequoia backs Lead Digital
Hong Kong-based medical devices maker OrbusNeich rakes in $200m …
OrbusNeich Medical Group Limited, a Hong Kong-based firm that develops medical devices for vascular intervention, has secured $200 million in two funding rounds to double down on its new and existing product development in Greater China and worldwide. The transactions were led by China’s Shenzhen Capital Group, together with its healthcare-focused investment platform Red Earth… Continue reading Hong Kong-based medical devices maker OrbusNeich rakes in $200m …
Alibaba-backed Chinese car wash firm YGL hits unicorn valuation after Series D round …
Alibaba-backed self-service car wash firm Yigongli (YGL), which was developed by Shanghai HELIOS Network Technology in China, has achieved a unicorn valuation of over $1 billion after raising “hundreds of millions of US dollars” across two tranches in its Series D round. The transactions include a Series D1 round from Sigma Delta Partners Investment (SDP… Continue reading Alibaba-backed Chinese car wash firm YGL hits unicorn valuation after Series D round …