Author: Deal Street Asia Online News

SG’s Temasek invests in US farming firm Bowery Farming, Sweden’s Sinch

Singapore state investor Temasek has participated in the funding rounds of US vertical farming company Bowery Farming and Swedish customer engagement giant Sinch, according to separate announcements. Temasek joined SoftBank in the $1.1-billion funding in Sinch, a trusted software provider to mobile operators, whose platform powers business-critical communications for many of the world’s largest companies.… Continue reading SG’s Temasek invests in US farming firm Bowery Farming, Sweden’s Sinch

Temasek backs digital health startup Noom’s $540m funding round

Digital health platform Noom said on Tuesday it had raised $540 million in a funding round led by buyout firm Silver Lake. The company did not disclose the valuation at which the funds were raised. But Bloomberg News reported on Monday that the latest funding round valued Noom at $3.7 billion. The round included new… Continue reading Temasek backs digital health startup Noom’s $540m funding round

Thai startup Pomelo pivots to fashion tech platform amid COVID crisis

JD.com-backed fashion e-commerce startup Pomelo plans to boost revenue by offering its own technology in analytics and demand forecasting to other fashion brands in the region, its chief executive said on Tuesday, amid slowing offline sales. The women’s fashion firm, which started as an online business in 2013, plans to launch its business-to-business (B2B) unit,… Continue reading Thai startup Pomelo pivots to fashion tech platform amid COVID crisis

China okays Goldman Sachs, ICBC joint wealth management venture

China‘s largest bank Industrial and Commercial Bank of China (ICBC) said on Tuesday its unit had received approval to set up a foreign-controlled wealth management firm with Goldman Sachs Asset Management. The unit of U.S. banking giant Goldman Sachs Group Inc will offer a 51% funding contribution ratio, while the wealth management unit of ICBC will offer 49%, the Chinese bank said in a exchange filing. The joint venture is “to create a world-class asset management business,”… Continue reading China okays Goldman Sachs, ICBC joint wealth management venture

India: Logistics SaaS startup FarEye raises $100m led by TCV, Dragoneer …

Logistics software-as-a-service (SaaS) platform FarEye on Tuesday said it has raised $100 million in a Series E round led by US-based investors Technology Crossover Ventures (TCV) and Dragoneer Investment Group, as the covid-19 pandemic accelerates the need for enterprises to scale their supply chain operations efficiently to meet the rising share of online deliveries. As… Continue reading India: Logistics SaaS startup FarEye raises $100m led by TCV, Dragoneer …

China Digest: B.H. Med, CHOWSING in funding news

Chinese cancer therapy startup B.H. Med has closed 500 million yuan ($78.1 million) in a Series C round, while pet product brand CHOWSING has raised nearly 400 million yuan ($62.4 million) in a Series B+ round. Jack Ma-backed Yunfeng Capital leads $78m round for B.H. Med Chinese cancer therapy startup B.H. Med has closed 500… Continue reading China Digest: B.H. Med, CHOWSING in funding news

Chinese smart logistics platform YunQuNa enters unicorn club post $100m round

YunQuNa, a global smart logistics service platform born in China, announced on Tuesday the completion of a Series D1 funding round at $100 million to achieve a unicorn valuation of over $1 billion. Investors of the Series D1 round remained undisclosed. Beijing-based Source Code Capital, which backed YunQuNa’s Series A round in 2017, said in… Continue reading Chinese smart logistics platform YunQuNa enters unicorn club post $100m round

China launches antitrust probe into property broker KE Holdings

China‘s market regulator has begun an investigation into suspected anti-competitive practices by KE Holdings, the country’s biggest housing broker whose top backer is Tencent Holdings, two people who know of the matter said. The investigation is the latest into China‘s big so-called “platform” companies that match sellers and buyers, several of which have been accused by regulators of exploiting consumers. KE Holdings, which… Continue reading China launches antitrust probe into property broker KE Holdings