Indonesia-listed all-commerce player Bukalapak has emerged as more than a marketplace platform since its $1.5-billion initial public offering in 2021 as it pursues strategic investments selectively to expand its ecosystem. At the same time, the cash-rich tech major is following a conservative spending strategy, according to analysts tracking the firm. In fact, some local and… Continue reading Cash-rich Bukalapak pursues selective strategy on investments to widen its ecosystem
Author: Deal Street Asia Online News
Chinese EV startup WM Motor said to be slashing salaries as losses balloon
WM Motor Holdings Ltd. is cutting salaries by half for management and nearly a third for staff members, Caixin has learned, as the electric-vehicle (EV) startup struggles with sluggish sales and ballooning losses. The Shanghai-based automaker began the cost-control measures in October, also cancelling annual bonuses and vehicle purchases subsidies, the source said, citing a… Continue reading Chinese EV startup WM Motor said to be slashing salaries as losses balloon
China Digest: AR firm Thin Red Line snaps up $50m; Quantifeed buys ALPIMAThin Red Line has secured $50m in an angel round led by Meituan investment ar…
Thin Red Line has raised fresh funding while Hong Kong-based Quantifeed has acquired fintech firm ALPIMA. AR firm Thin Red Line snaps up $50m Augmented Reality (AR) firm Thin Red Line has secured $50 million in an angel round led by DragonBall Capital, the investment arm of Chinese consumer products and retail services giant Meituan.… Continue reading China Digest: AR firm Thin Red Line snaps up $50m; Quantifeed buys ALPIMAThin Red Line has secured $50m in an angel round led by Meituan investment ar…
Indonesia’s East Ventures launches startup programme amid layoff wave
Indonesian venture capital firm East Ventures has launched the fourth edition of its startup initiative, Indonesia PASTI BISA, called Maju Terus Pantang Mundur (Keep Moving Forward, Never Give Up), in response to the massive tech layoffs in the country recently, the firm said on Wednesday. East Ventures wants to create a platform to support individuals… Continue reading Indonesia’s East Ventures launches startup programme amid layoff wave
SC Capital Partners, ADIA team up for $2b data centre programme
SC Capital Partners, a Singapore-based private equity real estate fund manager, has formed a $2-billion joint investment programme for data centres in the Asia-Pacific with a subsidiary of the Abu Dhabi Investment Authority (ADIA), the UAE’s largest sovereign wealth fund. The new setup will target digital infrastructure in Japan, South Korea, Singapore, and Australia and… Continue reading SC Capital Partners, ADIA team up for $2b data centre programme
China’s Fosun may sell stake in Alibaba’s logistics arm Cainiao
Debt-laden Chinese conglomerate Fosun International is seeking to offload a minority stake in Alibaba Group’s logistics arm Cainiao, in a deal that could fetch up to $1 billion, two people with direct knowledge of the matter said. Fosun has appointed a financial adviser to run the sale of its stake of less than 5% in Cainiao and the plan is at an early stage, said the sources, who… Continue reading China’s Fosun may sell stake in Alibaba’s logistics arm Cainiao
India Digest: The Ayurveda Co raises $15m in Series A; RedBrick AI snags $4.6m
D2C omnichannel ayurveda brand The Ayurveda Co has raised $15 million in a Series A funding round, while health-tech AI platform RedBrick AI said it has raised $4.6 million in seed funding led by Sequoia India and Southeast Asia’s Surge. The Ayurveda Co raises $15m in Series A The Ayurveda Co has raised $15 million… Continue reading India Digest: The Ayurveda Co raises $15m in Series A; RedBrick AI snags $4.6m
Berkshire Hathaway sells shares worth $81m in China’s BYDThe sale lowered Berkshire’s holdings in BYD’s total issued H-shares to 15.99%.
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Transition VC launches $49m debut fund to invest in climate tech startupsThe fund is looking to invest in up to 40 early-stage startups over the next …
Bengaluru-based Transition VC, an energy transition-focused venture capital firm, has launched a $48.9 million (Rs 400 crore) debut fund, with a greenshoe option of $24.4 million, it said it a statement on Wednesday. The firm aims to make seed investments in startups that are in the segments of e-mobility, green hydrogen, energy storage, net zero… Continue reading Transition VC launches $49m debut fund to invest in climate tech startupsThe fund is looking to invest in up to 40 early-stage startups over the next …
India Digest: PhonePe receives over $90m from parent; MyGate raises $12m in fresh funding
Flipkart-owned digital payments platform PhonePe has received a fresh capital infusion of about $90 million (Rs 742 crore) from its Singapore-based parent, while apartment management solution provider MyGate has raised about $12 million in a new round co-led by Urban Company and Acko. SG parent invests in PhonePe PhonePe has received a fresh capital infusion… Continue reading India Digest: PhonePe receives over $90m from parent; MyGate raises $12m in fresh funding