Author: Deal Street Asia Online News

SG central bank places $1.8b with asset managers for green investments

Singapore‘s central bank has placed $1.8 billion with five asset managers as part of moves to protect its portfolio from climate change risks and aid the city-state’s efforts to promote environmentally sustainable projects. “We aim to reduce risks to the portfolio across different climate scenarios, seize investment opportunities from the transition to a lower carbon… Continue reading SG central bank places $1.8b with asset managers for green investments

How SoftBank’s bets in green energy soured in India

SoftBank executives were at hand to support Nanda, who asserted that SB Energy was in India for the long haul. Less than a week later, billionaire Gautam Adani’s Adani Green Energy Ltd (AGEL) would announce the acquisition plans for SB Energy India. By then, SoftBank, under chairman and CEO Masayoshi Son, had been on a roller-coaster ride as… Continue reading How SoftBank’s bets in green energy soured in India

India: upGrad to hire 1,000 employees in 3 mths to fuel expansion plans

The Mumbai-based firm had raised $120 million from Singapore’s Temasek in the last week of April, its first external funding since it was founded six years ago, to accelerate growth in its product offerings and geographic reach. The edtech firm that operates in the higher education space said it will hire largely from smaller towns and cities and also… Continue reading India: upGrad to hire 1,000 employees in 3 mths to fuel expansion plans

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 …