Sierra, a software startup co-founded by former Salesforce co-CEO Bret Taylor, has raised $175 million in a new funding round led by Greenoaks Capital that gave it a $4.5 billion valuation, the company said on Monday. The funding round comes less than a year after the public launch of the young AI startup by Taylor, one of the most closely watched entrepreneurs in Silicon Valley. The company previously… Continue reading AI startup Sierra valued at $4.5b in funding round led by Greenoaks CapitalThe company is also backed by Sequoia Capital and Benchmark.
Author: Deal Street Asia Online News
US finalises rules to curb AI investments in China, impose other restrictionsThe rule covers semiconductors and microelectronics, quantum information …
The Biden administration said on Monday it is finalising rules that will limit US investments in artificial intelligence and other technology sectors in China that could threaten US national security. The rules, which were proposed in June by the US Treasury, were directed by an executive order signed by President Joe Biden in August 2023 covering three key sectors: semiconductors and microelectronics, quantum… Continue reading US finalises rules to curb AI investments in China, impose other restrictionsThe rule covers semiconductors and microelectronics, quantum information …
Singapore telco M1 buys 70% stake in Vietnamese IT solutions provider ADGM1 is a subsidiary of Keppel Ltd.
Singapore telco M1 Limited, a subsidiary of asset manager and operator Keppel Ltd, has acquired a 70% stake in Vietnam-based ADG National Investment and Technology Development Corp, according to an announcement. M1, through its wholly-owned subsidiary AP Tech Holdings Pte. Ltd., will pay a total purchase consideration of 719 billion dong ($28.3 million). ADG’s remaining… Continue reading Singapore telco M1 buys 70% stake in Vietnamese IT solutions provider ADGM1 is a subsidiary of Keppel Ltd.
Adams Street closes 2024 Global Fund at $1.1b—34% higher than predecessorAdams Street had closed the 2023 Global Fund Program at $820m.
Chicago-based investment manager Adams Street Partners has announced the final closing of its 2024 Global Fund Program, securing $1.1 billion in committed capital, a notable 34% increase from the predecessor vehicle. Adams Street had closed the 2023 Global Fund Program at $820 million, 25% smaller than the 2022 programme that had gathered $1.1 billion in… Continue reading Adams Street closes 2024 Global Fund at $1.1b—34% higher than predecessorAdams Street had closed the 2023 Global Fund Program at $820m.
Korea Zinc secures 9.85% stake in $1.5b share buyback to fend off takeoverBain Capital separately secured a 1.41% stake in the company.
Korea Zinc said on Monday it has secured 9.85% of the company’s shares in a $1.5 billion buyback that it launched to block shareholders from selling their stakes to its top investor Young Poong and private equity firm MBK. Bain Capital, which backs Korea Zinc‘s current leaders, separately secured a 1.41% stake in the company, the world’s biggest zinc smelter… Continue reading Korea Zinc secures 9.85% stake in $1.5b share buyback to fend off takeoverBain Capital separately secured a 1.41% stake in the company.
Singapore government to inject $332m more to support deeptech startupsThe funding cap per startup will be raised from S$8 million to S$12 million.
The Singapore government has announced an additional S$440-million ($332 million) investment in the Startup SG Equity scheme focusing on deeptech startups, according to a statement by Deputy Prime Minister Heng Swee Keat on Monday. The funding cap per startup will be raised from S$8 million to S$12 million, and the scheme will be administered by EnterpriseSG… Continue reading Singapore government to inject $332m more to support deeptech startupsThe funding cap per startup will be raised from S$8 million to S$12 million.
Golden Gate Ventures appoints Hussain Abdulla as partner for MENAHussain will work with Michael Lints, who leads Golden Gate’s expansion in the MENA r…
Southeast Asian venture capital firm Golden Gate Ventures has appointed Hussain Abdulla as partner, according to an announcement. The development comes as Golden Gate Ventures hit the first close of its $100-million debut MENA [Middle East and North Africa] fund in May this year. It secured $20 million from anchor investors, Al Khor Holding and… Continue reading Golden Gate Ventures appoints Hussain Abdulla as partner for MENAHussain will work with Michael Lints, who leads Golden Gate’s expansion in the MENA r…
Microsoft’s AI bets under scrutiny as investors await paydayThere’s “a wall of worry” around Microsoft’s earnings, said Morgan Stanley.
Microsoft is expected to report its slowest quarterly revenue growth in a year on Wednesday, while investors await signs of AI demand amid growing worries about the slow payoff from hefty investments in technology. The software giant is widely seen as the front-runner in the race to capitalise on generative AI, in part, thanks to its investment in ChatGPT-owner… Continue reading Microsoft’s AI bets under scrutiny as investors await paydayThere’s “a wall of worry” around Microsoft’s earnings, said Morgan Stanley.
India Digest: GPS Renewables’s ARYA raises mezzanine financing; InsuranceDekho, RenewBuy in merger talksGPS Renewables has previously raised $50 milli…
ARYA, the project development arm of GPS Renewables, has raised mezzanine financing, while InsuranceDekho is in talks to acquire its smaller rival RenewBuy. ARYA raises $11.9m from InCred, Spark ARYA, the project development arm of GPS Renewables, India’s biogas (CBG) technology and engineering company, on Monday said it has raised Rs 100 crore ($11.9 million)… Continue reading India Digest: GPS Renewables’s ARYA raises mezzanine financing; InsuranceDekho, RenewBuy in merger talksGPS Renewables has previously raised $50 milli…
Udaan closes $36m debt round to scale up market footprintLighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital invested in the rou…
Indian business-to-business (B2B) marketplace Udaan on Monday said it has raised Rs 300 crore ($35.7 million) in debt financing from investors including Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. The latest round of funding follows Udaan’s $340-million Series E round in December, which was led by M&G and consisted of a mix of… Continue reading Udaan closes $36m debt round to scale up market footprintLighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital invested in the rou…