Grab and BRI Ventures have launched Batch 4 to support Indonesian startups while Shopee, the e-commerce arm of Sea Ltd, will launch in Colombia and Chile. Grab, BRI Ventures launch Batch 4 to support Indonesian startups Southeast Asian super app Grab and BRI Ventures, the venture capital arm of Indonesia’s largest state-owned bank Bank Rakyat… Continue reading SEA Digest: Grab, BRI Ventures launch Batch 4; Shopee boosts Latam presence
Author: Deal Street Asia Online News
US-Chinese energy firm EcoFlow raises over $100m in GL Ventures-led round …
US and China-based portable power station maker EcoFlow has raised more than $100 million in a Series B round of financing led by GL Ventures, the venture capital unit of private equity firm Hillhouse Capital. The round brings the company’s market valuation to $1 billion, according to a company statement on Thursday. Proceeds from the… Continue reading US-Chinese energy firm EcoFlow raises over $100m in GL Ventures-led round …
China’s top banking regulator warns of bad loans, “serious” local real estate bubbles
China’s top banking and insurance regulator said banks should guard against a rise in non-performing assets, as the country rolls back some of the relief measures implemented during the pandemic to help firms withstand the fallout. In 2020, the central bank encouraged financial institutions to lower rates for virus-stricken firms and extend payment deadlines, among… Continue reading China’s top banking regulator warns of bad loans, “serious” local real estate bubbles
Amazon Australia chief to join US videogame maker GameStop as CEO
GameStop on Wednesday named the head of Amazon’s Australian business as its CEO and said the struggling videogame retailer may sell new shares, sending its volatile stock down 7% in extended trade and disappointing some of its ardent fan base of individual investors. In a quarterly report that was stronger than analysts forecast, GameStop said it may… Continue reading Amazon Australia chief to join US videogame maker GameStop as CEO
Alibaba planning to develop self-driving trucks with logistics subsidiary Cainiao
Chinese e-commerce leader Alibaba Group Holding Ltd plans to develop self-driving trucks with logistics subsidiary Cainiao, Chief Technology Officer Cheng Li said on Thursday. Cheng also said Cainiao aims to introduce 1,000 autonomous delivery robots in China over the next year. The announcement comes as dozens of startups, automakers and large technology firms, such as… Continue reading Alibaba planning to develop self-driving trucks with logistics subsidiary Cainiao
Thailand’s 9 Basil to continue backing Alpha Capital, targets IPO in 2022 …
Bangkok-based 9 Basil, an independent funds management business, has announced plans to continue backing its investee company Alpha Capital and position it for an IPO in 2022. 9 Basil will continue to allocate capital to the distressed debt management platform, and aim to make it the largest independent asset management company in Thailand, according to… Continue reading Thailand’s 9 Basil to continue backing Alpha Capital, targets IPO in 2022 …
India: Lockdown in 2nd wave challenging, says Amazon’s Amit Agarwal
Amazon plans to empower businesses using technology, lower cost of operations, and build infrastructure and logistics to enable fast and free delivery, India head Amit Agarwal said, as the e-commerce company completes eight years in India. Unlike last year when e-commerce firms were allowed to deliver essentials and adhere to norms under a national lockdown,… Continue reading India: Lockdown in 2nd wave challenging, says Amazon’s Amit Agarwal
China Digest: MissFresh files for US IPO, Zhangmen raises $41.7m …
Premium MissFresh, a Tencent-backed Chinese online grocery startup, has filed to raise $100 million in an initial public offering (IPO) in the US while Warburg Pincus-backed Zhangmen Education priced its US IPO to raise $41.7 million, according to separate filings. Go to Source
Crypto deals in Southeast Asia are up, but will the rally last? …
In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading Crypto deals in Southeast Asia are up, but will the rally last? …
Indonesia’s BukuWarung raises $60m led by Valar Ventures, Goodwater Capital
BukuWarung, an Indonesian fintech startup that helps micro-SMEs (MSMEs) digitise their businesses, has raised $60 million in its Series A round, led by US-based VC firms Valar Ventures and Goodwater Capital, confirming an earlier story done by DealStreetAsia. In April, we had reported about the development that marks Valar’s first funding in the archipelago. The… Continue reading Indonesia’s BukuWarung raises $60m led by Valar Ventures, Goodwater Capital