Author: Deal Street Asia Online News

OpenAI plans to launch AI-powered search engine to take on Google: reportOpenAI’s search product is an extension of its flagship ChatGPT product.

OpenAI plans to announce its artificial intelligence-powered search product on Monday, according to two sources familiar with the matter, raising the stakes in its competition with search king Google. The announcement date, though subject to change, has not been previously reported. Bloomberg and the Information have reported that Microsoft-backed OpenAI is working on a search product to potentially… Continue reading OpenAI plans to launch AI-powered search engine to take on Google: reportOpenAI’s search product is an extension of its flagship ChatGPT product.

US PE giant Silver Lake raises $20.5b seventh fund—its biggest to dateIts predecessor fund had raised $20b in early 2021.

Silver Lake, the technology-focused private equity (PE) group famed for its successful takeover of Dell, has raised its largest fund to date with the final close on Silver Lake Partners VII at $20.5 billion. As its seventh flagship PE fund, the new vehicle tops the $20 billion that the firm closed for Silver Lake Partners VI… Continue reading US PE giant Silver Lake raises $20.5b seventh fund—its biggest to dateIts predecessor fund had raised $20b in early 2021.

TVS Holdings to buy 80.74% stake in Home Credit India Finance for $66m

Auto components manufacturing and distribution group TVS Holdings on Friday said it is acquiring an 80.74% stake in Home Credit India Finance, a consumer financing and personal loans provider, for Rs 554 crore ($66.4 million). Premji Invest and other associates will purchase the remaining stake. Home Credit India, a part of the Home Credit Group,… Continue reading TVS Holdings to buy 80.74% stake in Home Credit India Finance for $66m

India Digest: Triomics and Regrip raise funding

US- and Bengaluru-based Triomics has raised $15 million in a funding round led by prominent Silicon Valley firms. Separately, Regrip has raised $2 million in a fresh funding round led by Qatar-based venture capital FIRM Sirious One alongside Inflection Point Ventures and Let’s Venture. Triomics raises $15m from Lightspeed, others US- and Bengaluru-based Triomics, a… Continue reading India Digest: Triomics and Regrip raise funding

Australian VC Square Peg plans to raise $550m for sixth fund

Australian venture capital (VC) firm Square Peg plans to raise $550 million for its sixth fund in the second half of 2024 while maintaining its focus on investment activities in Southeast Asia, Australia, and Israel, a top executive told DealStreetAsia. Square Peg also plans to beef up its Southeast Asian investment team, based out of… Continue reading Australian VC Square Peg plans to raise $550m for sixth fund

Korean AI chip startup DEEPX nets $80.5m Series C fundingThe firm had last raised about $15 million in Series B funding in 2021.

DEEPX, a South Korean AI semiconductor tech startup, has announced raising $80.5 million in its Series C funding round backed by private equity firms. The company said the latest funding round saw an increase of over eight times from its Series B funding, which was about $15 million raised in 2021. According to reports, the… Continue reading Korean AI chip startup DEEPX nets $80.5m Series C fundingThe firm had last raised about $15 million in Series B funding in 2021.

China’s Zeekr prices US IPO at top of range to raise $441mZeekr upsized its IPO to sell 21 million American Depositary Shares at $21 per share.

Chinese electric vehicle maker Zeekr Intelligent Technology priced its U.S. initial public offering (IPO) at the top of its indicated range on Thursday, raising $441 million, a person familiar with the matter said. Zeekr, which is the premium brand of Chinese automaker Geely, upsized its IPO to sell 21 million American Depositary Shares at $21… Continue reading China’s Zeekr prices US IPO at top of range to raise $441mZeekr upsized its IPO to sell 21 million American Depositary Shares at $21 per share.