On-demand logistics startup Porter has raised funds from friends and family in a round which has catapulted it in the unicorn club of India, MoneyControl reported on Thursday. In the round, around 15-20 individuals bought shares worth Rs 25 crore from the employee stock ownership plan (ESOP) pool at a valuation of $1 billion, the… Continue reading Porter becomes India’s 3rd unicorn of 2024 after fundraise: ReportThe firm last raised $100m in a Series E funding round led by Tiger Global Managemen…
Author: Deal Street Asia Online News
Futures exchange operator CME Group said to mull launching bitcoin tradingThe exchange has been holding discussions with traders who want to buy/sell …
CME Group, the world’s largest futures exchange operator, plans to launch bitcoin trading to expand its portfolio, the Financial Times reported on Thursday. The Chicago-headquartered exchange has been holding discussions with traders who want to buy and sell bitcoin on a regulated marketplace, the newspaper said, citing three people with direct knowledge of the talks.… Continue reading Futures exchange operator CME Group said to mull launching bitcoin tradingThe exchange has been holding discussions with traders who want to buy/sell …
Saudi Venture Capital invests $30m in General Atlantic’s growth fundThe investment follows SVC’s strategy to attract top global fund managers to inves…
Saudi Venture Capital (SVC) has announced a $30-million investment in a private equity fund managed by US-based General Atlantic. Without divulging which fund it is backing, SVC said the vehicle will focus on investing in high-growth, tech-enabled companies across five core sectors of consumer, financial services, healthcare, life sciences, and technology. This investment follows SVC’s strategy… Continue reading Saudi Venture Capital invests $30m in General Atlantic’s growth fundThe investment follows SVC’s strategy to attract top global fund managers to inves…
SEA Digest: Kasagi Labo closes $12m pre-Series A; Chainstack bags $6mAnime-focused venture studio Kasagi Labo has raised $12 million in a pre-series A…
Southeast Asian startups in entertainment and blockchain sectors have snagged fresh funding from investors to further enhance their product offerings. Kasagi Labo raises $12 million round Kasagi Labo, an anime-focused venture studio based in Singapore and Japan, on Thursday announced raising $12 million in a pre-series A round led by Burda Principal Investments, a division… Continue reading SEA Digest: Kasagi Labo closes $12m pre-Series A; Chainstack bags $6mAnime-focused venture studio Kasagi Labo has raised $12 million in a pre-series A…
Indian software firm Zoho plans $700m foray into chipmaking
Indian software firm Zoho is planning a foray into chipmaking and seeking incentives from the federal government, two sources with direct knowledge of the proposal said, with one of them pegging the investment plan at $700 million. Zoho, established in 1996 and now headquartered in India’s Tamil Nadu, offers software and related services on subscription to businesses in 150 countries, competing with the likes… Continue reading Indian software firm Zoho plans $700m foray into chipmaking
Chinese retailer JD.com reports Q1 revenue above estimates
Chinese online retailer JD.com on Thursday reported first-quarter revenue that beat market estimates, as deep price cuts helped boost sales that had been hit hard by cautious customer sentiment. U.S.-listed shares of the company rose about 3.5% in premarket trading. JD.com and bigger rival Alibaba Group have been lowering prices and offering discounts to maintain… Continue reading Chinese retailer JD.com reports Q1 revenue above estimates
India’s Mahindra to invest $1.44b in EV unit, SUV sales help beat Q4 profit estimates
Indian automaker Mahindra & Mahindra will invest 120 billion rupees ($1.44 billion) in its electric vehicles unit, it said on Thursday, as the company beat fourth-quarter profit estimates on steady sales of its sports utility vehicles (SUVs). The company also said it will sell some assets associated with its EV car business to the electric… Continue reading India’s Mahindra to invest $1.44b in EV unit, SUV sales help beat Q4 profit estimates
India’s market regulator open to oversight of crypto trade
India’s market watchdog has recommended that several regulators oversee trade in cryptocurrencies, documents show, the strongest signal to date that at least some authorities in the country are open to allowing the use of private virtual assets. The position of the Securities and Exchange Board of India (SEBI) contrasts with that of the Reserve Bank of India (RBI), which maintains that private digital currencies represent… Continue reading India’s market regulator open to oversight of crypto trade
SG’s Golden Gate Ventures hits first close of $100m MENA fund Golden Gate Ventures partner Michael Lints has relocated to Qatar to oversee this expans…
Southeast Asian venture capital firm Golden Gate Ventures has hit the first close of its $100-million debut Middle East and North Africa (MENA) fund. It secured $20 million from anchor investors, Al Khor Holding and Al Attiya Group, both Qatari family-controlled conglomerates with businesses in areas like real estate, manufacturing and brands, as well as… Continue reading SG’s Golden Gate Ventures hits first close of $100m MENA fund Golden Gate Ventures partner Michael Lints has relocated to Qatar to oversee this expans…
China’s Nio launches Onvo brand to challenge Tesla’s best-selling modelThe Onvo L60 SUV sticker price starts from 219,900 yuan ($30,476), 12% below th…
Chinese electric vehicle maker Nio on Wednesday launched the first vehicle in its new lower-priced brand Onvo which aims to compete there with Tesla‘s Model Y, the world’s best-selling EV. Nio unveiled the Onvo L60 SUV with a sticker price starting from 219,900 yuan ($30,476), 12% below the price of Tesla’s Model Y which starts at 249,900 yuan… Continue reading China’s Nio launches Onvo brand to challenge Tesla’s best-selling modelThe Onvo L60 SUV sticker price starts from 219,900 yuan ($30,476), 12% below th…