Author: Deal Street Asia Online News

SoftBank CEO Masayoshi Son’s pay fell by half last year

SoftBank Group Corp Chief Executive Masayoshi Son’s remuneration for the past business year fell by 52% to 100 million yen ($915,000) including basic pay, a filing from the Japanese conglomerate showed on Thursday. The disclosure ahead of SoftBank‘s annual general meeting on June 23 follows a turbulent year which saw the group pounded by the COVID-19 pandemic before rebounding to record profit on market appetite… Continue reading SoftBank CEO Masayoshi Son’s pay fell by half last year

SoftBank leads $775m funding in US consumer products firm Perch …

SoftBank Group Corp‘s Vision Fund 2 has led a $775 million investment in Perch, a technology firm that buys and operates third-party brands that sell their products on Amazon.com Inc. The Series A funding will make Perch a so-called “unicorn” – implying a valuation of $1 billion or more and brings the company’s total funding… Continue reading SoftBank leads $775m funding in US consumer products firm Perch …

India: Patanjali to sell stake in Ruchi Soya via a follow-on public offer

Patanjali had acquired the erstwhile bankrupt firm known for the Nutrela brand of products in 2019 for around ₹4,350 crore through an insolvency and bankruptcy code (IBC) process. The process resulted in Patanjali owning 98.9% of the company, leaving very little public float in the stock market. With the proposed FPO, the company hopes to raise… Continue reading India: Patanjali to sell stake in Ruchi Soya via a follow-on public offer

Y Combinator-backed Betterhalf.ai raises $3m and 10 more India deal updates …

ResearchPremium Y Combinator-backed Betterhalf.ai, an AI-driven matrimonial app, has raised $3 million in a pre-Series A round of funding, per an announcement. The round saw the participation of venture capital firms S2 Capital and Quiet Capital and angel investors like Kunal Shah and Samvit Ramadurgam. The startup will use the funding to boost its app… Continue reading Y Combinator-backed Betterhalf.ai raises $3m and 10 more India deal updates …

Swiss investor SUSI Partners hits first close for Asia energy fund at $81m

Swiss infrastructure fund manager SUSI Partners has reached a first close at $81 million for its Asia Energy Transition Fund (SAETF), which will focus on investments in Southeast Asia. The fund has attracted commitments from development finance institutions (DFIs) including the Asian Infrastructure Investment Bank, Dutch development bank FMO, as well as Nordic DFIs Norfund… Continue reading Swiss investor SUSI Partners hits first close for Asia energy fund at $81m

Chinese e-commerce firm Pinduoduo beats quarterly revenue estimates

Chinese e-commerce platform Pinduoduo Inc’s quarterly revenue beat Wall Street estimates on Wednesday, driven by steady demand for online shopping following the COVID-19 pandemic. Pinduoduo has led China’s adoption of social e-commerce, by meshing online shopping with social media. Buyers can avail greater discounts when shopping in bigger groups, which has helped the Shanghai-based company challenge bigger rivals Alibaba and JD.com . Active buyers on Pinduoduo in… Continue reading Chinese e-commerce firm Pinduoduo beats quarterly revenue estimates

Asia Digest: Bangladesh’s Data Bird bags $3m; IFC loan for Vietnamese firm

Bangladeshi startup Data Bird has raised funding while IFC has extended financing to a Vietnamese wind power firm. Bangladeshi startup Data Bird raises $3m bridge round Bangladesh’s Data Bird, the company behind online travel platform ShareTrip and communications app Ridmik Keyboard, has raised a $3-million bridge round from global internet and software investor Skycatcher. The… Continue reading Asia Digest: Bangladesh’s Data Bird bags $3m; IFC loan for Vietnamese firm