Author: Deal Street Asia Online News

Korean Investment Partners closes maiden SE Asia fund at $60mKIP Southeast Asia Venture Fund I has attracted investments from institutional investors …

Korea Investment Partners Southeast Asia (KIPSEA) has closed its first Southeast Asia venture capital fund at $60 million, according to an announcement on Monday. KIP Southeast Asia Venture Fund I has attracted investments from institutional investors across South Korea, Hong Kong, and Singapore, including Samsung Life Insurance, Korea Development Bank, Korea Growth Investment Corporation, D.camp,… Continue reading Korean Investment Partners closes maiden SE Asia fund at $60mKIP Southeast Asia Venture Fund I has attracted investments from institutional investors …

SEA Digest: Car-sharing platform Drive lah raises $5m; customer engagement platform Qiscus secures $2mDrive lah had raised $3.2m in a pre-Series A rou…

Drive lah has raised $5 million in an investment round led by transport major ComfortDelGro, while Qiscus has raised $2 million from Indonesian investment firm Init6. ComfortDelGro invests $2m in Drive lah Singapore- and Australia-based car-sharing platform Drive lah raised $5 million in an investment round led by transport major ComfortDelGro, according to a LinkedIn… Continue reading SEA Digest: Car-sharing platform Drive lah raises $5m; customer engagement platform Qiscus secures $2mDrive lah had raised $3.2m in a pre-Series A rou…

Indian banks offer incentives to boost digital rupee transactions

The sources declined to be named as they were not authorised to speak to the media. The RBI did not respond to an email seeking comment. The RBI started a pilot program for the e-rupee in December and is targeting a million transactions daily by year-end. But retail transactions are still tracking below the target,… Continue reading Indian banks offer incentives to boost digital rupee transactions

GoTo-backed digital lender Bank Jago’s profit jumps 24% in 9M 2023

GoTo-backed digital lender PT Bank Jago Tbk booked a 24% jump in net profit in the nine months (Jan-Sep) of 2023 as net interest income also grew 23%. In the first nine months of 2023, Bank Jago recorded a profit of 50 billion rupiah ($3.13 million), compared with 41 billion rupiah in the same period… Continue reading GoTo-backed digital lender Bank Jago’s profit jumps 24% in 9M 2023

India’s EV maker Ola Electric revs up with $385m funding from Temasek, SBIOla Electric was valued at $5.5b in Sept.

SoftBank-backed electric vehicle maker Ola Electric has raised $385 million (Rs 3,200 crore) in an equity and debt funding round from Temasek-led investors and the State Bank of India. The funds raised would be utilised towards the expansion of Ola’s EV business and setting up India’s first lithium-ion cell manufacturing facility in Krishnagiri, Tamil Nadu.… Continue reading India’s EV maker Ola Electric revs up with $385m funding from Temasek, SBIOla Electric was valued at $5.5b in Sept.

Low-cost e-commerce rivals Shein and Temu apply to end US court cases

Fierce rivals Shein and PDD Holdings-owned Temu have applied to end their legal fights with each other in the U.S., documents show, marking a truce even as a global market share battle between the low-price online platforms heats up. Joint declarations were filed to courts in Chicago and Boston by lawyers representing the companies and… Continue reading Low-cost e-commerce rivals Shein and Temu apply to end US court cases

Macquarie fund to invest in US telecom services provider SwyftFiber

Australia’s Macquarie Group said late on Thursday that a fund managed by its asset management arm would invest in U.S.-based telecom services provider SwyftFiber. Macquarie did not disclose the financial details of the deal, but a person familiar with the matter told Reuters that the asset manager was committing to make a $275 million investment. SwyftFiber… Continue reading Macquarie fund to invest in US telecom services provider SwyftFiber