City-based payment gateway, Cashfree, on Monday said it has raised strategic funding from India’s largest lender, State Bank of India (SBI), at a post-money valuation of $200 million. The company will be utilise the funds to ramp up its payment infrastructure and invest in growth. The latest fundraise comes less than a year after the… Continue reading State Bank of India invests in digital payments firm Cashfree …
Author: Deal Street Asia Online News
India: Byju’s receives funding from Breakthrough Global Foundation for COVID-19 initiatives
Edtech startup Byju’s on Monday said it has received $1 million in funding from the Breakthrough Global Foundation and Saurabh Gupta to support the company’s covid-19 initiatives in the country. The Breakthrough Global Foundation was founded by tech investor and science philanthropist Yuri Milner and his wife Julia. Milner is also the founder of DST… Continue reading India: Byju’s receives funding from Breakthrough Global Foundation for COVID-19 initiatives
GGV Capital leads $94m Series C round in China’s Qingteng Cloud Security …
Qingteng Cloud Security, a Beijing-based technology firm specialising in server security, said on Monday that it has garnered 600 million yuan ($94 million) in a Series C round. The round was led by GGV Capital, a global venture capital firm that makes seed- to growth-stage investments across consumer, internet, cloud, and smart tech sectors. Greater… Continue reading GGV Capital leads $94m Series C round in China’s Qingteng Cloud Security …
Indonesia’s Alodokter raises fresh funding from MDI, Samsung Ventures
Alodokter, an Indonesian digital health platform backed by Softbank Ventures, announced that it has raised an undisclosed amount of funding from MDI Ventures and Samsung Ventures. The startup did not say how much it raised in the latest funding but disclosed that it will use the fresh capital to develop new products for the Alodokter… Continue reading Indonesia’s Alodokter raises fresh funding from MDI, Samsung Ventures
Asia’s ESG bond issuances hit record $69b this year, no let-up seen
Asia-Pacific borrowers more than doubled issuance of bonds tied to environmental, social and governance (ESG) themes to a record $69 billion this year, data showed, as they sought to burnish their sustainability credentials and tap red-hot investor demand. Bankers say the trend will continue, boosting their fee incomes. Some of the biggest global investment banks… Continue reading Asia’s ESG bond issuances hit record $69b this year, no let-up seen
China Digest: Redpoint China Ventures backs Feiwei; biomedical firm Zeesan bags $10m
Shanghai Feiwei Information Technology has raised 100 million yuan ($15 million) in a Series B round of financing co-led by Redpoint China Ventures and GP Capital, while Zeesan Biotech has garnered $10 million from Sinovation Ventures. Shanghai Feiwei bags $15m in a Series B round Big data services specialist Shanghai Feiwei Information Technology Co., Ltd… Continue reading China Digest: Redpoint China Ventures backs Feiwei; biomedical firm Zeesan bags $10m
South Korean retail firms Lotte, Shinsegae bid for eBay unit
South Korean retailers Lotte Shopping and Shinsegae Group entered separate binding bids for eBay’s South Korean business, the retailers’ spokesmen said on Monday. eBay Korea – South Korea’s third-largest e-commerce firm with a 12.8% market share in 2020, according to Euromonitor – is on sale for what eBay hopes could be up to 5 trillion won ($4.5… Continue reading South Korean retail firms Lotte, Shinsegae bid for eBay unit
SoftBank-backed construction startup Katerra files for bankruptcy protection in US
Construction startup Katerra Inc, which is backed by SoftBank Group Corp, said on Sunday it has filed for bankruptcy protection in the United States. Katerra said it had secured commitments for $35 million in debtor-in-possession (DIP) financing from SB Investment Advisers (UK) Limited to fund operations during the Chapter 11 process, adding that the company’s international operations are… Continue reading SoftBank-backed construction startup Katerra files for bankruptcy protection in US
HSBC veteran Hitendra Dave to be new India CEO
A Swiss International aircraft flies past the HSBC headquarters building in the Canary Wharf financial district in east London February 15, 2015. REUTERS/Peter Nicholls HSBC has appointed Hitendra Dave as the interim chief executive officer of HSBC India with effect from today. Dave’s formal appointment as the CEO is subject to regulatory approval. Dave succeeds… Continue reading HSBC veteran Hitendra Dave to be new India CEO
ASX-listed Altium rejects $3.9b takeover bid from US peer Autodesk …
Australia-listed software maker Altium Ltd on Monday rejected a buyout proposal from American peer Autodesk Inc that valued the company at A$5.05 billion ($3.91 billion), saying it “significantly undervalued” its prospects. The U.S. firm, which makes architecture designing software AutoCAD, offered Altium A$38.50 for each share, a 41.5% premium to its last closing price. Altium‘s shares soared as much… Continue reading ASX-listed Altium rejects $3.9b takeover bid from US peer Autodesk …