Author: Deal Street Asia Online News

Chinese online grocer Dingdong Maicai files for US IPO

Chinese grocery app Dingdong Maicai, backed by investors including Sequoia Capital and Tiger Global Management, filed for a U.S. initial public offering on Tuesday, as it seeks more funds to compete in a crowded sector. The COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong, Alibaba Group and Pinduoduo competing aggressively to grab… Continue reading Chinese online grocer Dingdong Maicai files for US IPO

Hong Kong to test linking China’s digital yuan with its domestic payments network

Hong Kong is to test connecting China’s digital yuan with its domestic payments network, officials said on Tuesday, the second stage of trials of China’s digital currency in the financial hub. China’s e-CNY is one of the most advanced central bank digital currency (CBDC) projects among major economies. Chinese officials say the project will be initially domestically focused, but cross-border trials are… Continue reading Hong Kong to test linking China’s digital yuan with its domestic payments network

Indian telemedicine platform Truemeds raises $5m led by InfoEdge Ventures

Telemedicine platform, Truemeds, on Tuesday said it has raised $5 million as a part of its Series A funding round led by InfoEdge Ventures, Asha Impact and Indian Angel Network Fund (IAN Fund). According to the company, it will use the funding to further expand its footprint to additional cities, build product and technology and… Continue reading Indian telemedicine platform Truemeds raises $5m led by InfoEdge Ventures

Chinese lidar developer Hesai rakes in $300m funding after halted STAR Market IPO …

Hesai Technology, a Shanghai-based startup that develops lidar sensors for autonomous driving and other robotics applications, has raked in $300 million in a Series D round of financing jointly led by investors including Hillhouse Capital’s GL Ventures and smartphone maker Xiaomi Corp. Chinese food delivery giant Meituan and China’s CITIC Private Equity Funds Management (CPE)… Continue reading Chinese lidar developer Hesai rakes in $300m funding after halted STAR Market IPO …

ING Labs spin-out Stemly nets $2.5m seed funding and other SE Asia deals

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 ING Labs spin-out Stemly nets $2.5m seed funding and other SE Asia deals

Boyu, Sinopharm among shortlisted bidders for drugmaker Mundipharma’s China unit

Drugmaker Mundipharma has included Boyu Capital and state-owned Sinopharm on a shortlist of bidders for its Chinese business, two people familiar with the situation said. Chinese buyout firms CITIC Capital and CPE are also on the shortlist for Mundipharma’s China unit, which sources have said could fetch more than $1 billion. Mundipharma, which is owned by the… Continue reading Boyu, Sinopharm among shortlisted bidders for drugmaker Mundipharma’s China unit

Apple said to be in talks with China’s CATL, BYD over battery supplies for its electric car …

Apple Inc is in early-stage talks with China’s CATL and BYD about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said. The discussions are subject to change and it is not clear if agreements with either CATL or BYD will be reached, said the people who declined… Continue reading Apple said to be in talks with China’s CATL, BYD over battery supplies for its electric car …