Author: Deal Street Asia Online News

SE Asian startups left thirsting as funding drought persists into Q2

Halfway through 2024, the venture capital landscape in Southeast Asia remains parched. The funding drought that has plagued the region for the past two years shows little signs of letting up, leaving startups thirsting for investment. The total volume of equity funding in Southeast Asian startups declined in the second quarter, reversing the upward trend… Continue reading SE Asian startups left thirsting as funding drought persists into Q2

GoTo plans treasury share cancellation to prop up share valueThe cancellation does not impact GoTo’s ongoing share buyback initiatives approved by the…

IDX-listed PT GoTo Gojek Tokopedia Tbk is seeking approval for the cancellation of treasury shares at the upcoming Extraordinary General Meeting of Shareholders (EGMS) on August 30 to prop up its share value, according to a statement on Wednesday. GoTo is set to cancel 10,264,665,616 Series A shares acquired in 2021 and 2022 through pre-IPO… Continue reading GoTo plans treasury share cancellation to prop up share valueThe cancellation does not impact GoTo’s ongoing share buyback initiatives approved by the…

Sequoia Capital-backed online security firm Vanta raises funding at $2.45b valuation

Online security and compliance management platform Vanta said on Wednesday it had raised $150 million in a fresh funding round led by venture capital firm Sequoia Capital, giving it a valuation of $2.45 billion. Companies pursuing artificial intelligence (AI) adoption are attracting the attention of US venture capital firms after a near two-year lull driven by high interest rates and a sluggish exit market for startup investors. Vanta says… Continue reading Sequoia Capital-backed online security firm Vanta raises funding at $2.45b valuation

India likely to ease curbs on ‘less sensitive’ Chinese investments

India is likely to ease restrictions on Chinese investment in non-sensitive sectors like solar panels and battery manufacturing where New Delhi lacks expertise and which hinders domestic manufacturing, two government sources said. The government plans to free up sectors to Chinese investment that it deems less sensitive from a security point of view, said one of the officials, who did not want to named. The plans… Continue reading India likely to ease curbs on ‘less sensitive’ Chinese investments

China’s BYD races way ahead of Tesla in Singapore in H1

China’s BYD widened its sales lead over Tesla in Singapore in the first half of this year, government data showed, highlighting the challenge facing the world’s biggest electric vehicle maker by sales from Chinese rivals. BYD‘s strong growth in Singapore, one of the region’s smallest auto markets, underscores the Chinese firm’s ambition to dominate the Southeast Asia market, where gasoline car brands from Japan and South Korea are popular… Continue reading China’s BYD races way ahead of Tesla in Singapore in H1

India: IPO-bound Unimech Aerospace raises $30m from Steadview, Evolvence, othersEleven startups operating within aerospace industry collectively raise…

Bengaluru-based Unimech Aerospace has raised about $30 million (Rs 250 crore) in a fresh funding round from investors including Steadview Capital Mauritius Limited, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd, it announced on Wednesday. With the latest infusion, IPO-bound Unimech Aerospace has attained a post-money valuation of Rs 3,250 crore ($388 million), per… Continue reading India: IPO-bound Unimech Aerospace raises $30m from Steadview, Evolvence, othersEleven startups operating within aerospace industry collectively raise…

Xiaomi-backed fund ropes in new LPs to hit $1.4b target

An investment fund backed by smartphone maker Xiaomi has hit its target of 10 billion yuan ($1.4 billion) to back companies in the area of integrated circuits.  The vehicle — Beijing Xiaomi Intelligent Manufacturing Equity Investment Fund Partnership — has seen LP contribution increase by 970 million yuan ($133.3 million) to reach the corpus of… Continue reading Xiaomi-backed fund ropes in new LPs to hit $1.4b target