Sydney-based e-grocery firm Voly will be shutting down “due to worsening macroeconomic conditions making it difficult to attract new funding”, its co-founder Thibault Henry announced in a LinkedIn post. Several e-grocery firms across the globe have shut down recently after being unable to raise further funding. While in the US, e-grocery firms like Gopuff, Fridge… Continue reading Sequoia India-backed Australian e-grocery startup Voly shuts down
Author: Deal Street Asia Online News
TPG Capital said to have sold $123m Nykaa shares just days after lock-in expiredAs on September 30, the private equity firm held a 2.28% stake in the …
TPG Capital has likely offloaded shares worth $123 million (Rs. 1,000 crore) in Nykaa, days after the lock-in expiry for pre-IPO investors in the online fashion and cosmetics retailer ended. According to media reports, TPG Capital is likely to sell the shares at Rs 184.55, a 0.6% discount to Thursday’s closing price of Rs 185.60.… Continue reading TPG Capital said to have sold $123m Nykaa shares just days after lock-in expiredAs on September 30, the private equity firm held a 2.28% stake in the …
India Digest: Lenskart raises $40m, Kapiva to raise over $24m
Lenskart has raised $39.6 million from Chiratae Ventures, DSP India Fund, and Axis Growth Avenues AIF-I, in its fifth funding round this year, according to Inc42. Separately, Entrackr reported that D2C ayurvedic nutrition brand Kapiva is in late-stage talks to raise over $24 million (Rs 200 crore) from OrbiMed. Lenskart said to have raised $40m… Continue reading India Digest: Lenskart raises $40m, Kapiva to raise over $24m
Hundreds of Twitter employees said to be quitting after Elon Musk’s ultimatum
Hundreds of Twitter employees are estimated to be leaving the beleaguered social media company following an ultimatum from new owner Elon Musk that staffers sign up for “long hours at high intensity,” or leave. In a poll on the workplace app Blind, which verifies employees through their work email addresses and allows them to share… Continue reading Hundreds of Twitter employees said to be quitting after Elon Musk’s ultimatum
GoTo confirms it is laying off 1,300 employees, or 12% of the workforce
The IDX-listed Indonesian tech giant GoTo has announced it will let go of 1,300 people or 12% of the group’s workforce. The decision, the company said, is needed to ensure its “long-term stability and sustainability”. In a town hall meeting on Friday, GoTo’s CEO Andre Soelistyo told staffers that global macroeconomic conditions are having a… Continue reading GoTo confirms it is laying off 1,300 employees, or 12% of the workforce
Amazon to continue layoffs in the New Year
Amazon.com Inc said on Thursday there would be more role reductions as its annual planning process extends into next year and leaders continue to make adjustments. “Those decisions will be shared with impacted employees and organizations early in 2023”, said Andy Jassy, who became the company’s Chief Executive Officer in 2021, in a letter to… Continue reading Amazon to continue layoffs in the New Year
Dongfeng Motor Group’s EV brand Voyah raises $639m at over $4b valuation
Voyah, a premium electric vehicle brand under China’s auto giant Dongfeng Motor Group has notched 4.55 billion yuan ($638.5 million) in a Series A round, Chinese financial media outlet Yicai reported on Thursday. The round has brought the company’s valuation to 29.5 billion yuan ($4.1 billion), per the report. Mixed Ownership Reform Fund, a national… Continue reading Dongfeng Motor Group’s EV brand Voyah raises $639m at over $4b valuation
IFC proposes $40m investment in Chinese animal feed producer Anyou
The International Finance Corporation (IFC), a member of the World Bank Group, has proposed an investment of up to 260 million yuan (approximately $40 million) in China’s animal feed producer Anyou Biotechnology Group Co., Ltd, (Anyou), according to a disclosure. The investment, a long-term A loan, will be used for Anyou’s project to expand its… Continue reading IFC proposes $40m investment in Chinese animal feed producer Anyou
Crypto lender Genesis had sought emergency loan of $1b, per reportGenesis Global Capital suspended customer redemptions in its lending business on Wed…
Cryptocurrency lender Genesis was seeking an emergency loan of $1 billion from investors before it suspended withdrawals on its website, the Wall Street Journal reported on Thursday, citing a confidential fundraising document. The document viewed by the Journal cites a “liquidity crunch due to certain illiquid assets on its balance sheet” at Genesis. On Wednesday, Genesis Global Capital suspended customer redemptions in its lending business, citing… Continue reading Crypto lender Genesis had sought emergency loan of $1b, per reportGenesis Global Capital suspended customer redemptions in its lending business on Wed…
World Bank’s IFC eyeing sector fund opportunities in APAC
World Bank Group member International Finance Corporation (IFC) is on the lookout for sector-focused opportunities such as climate change, circular economy, logistics, and mobility as it seeks to deepen its portfolio in the Asia-Pacific, said a senior executive to DealStreetAsia. IFC – also the world’s largest development institution focused on the private sector in emerging… Continue reading World Bank’s IFC eyeing sector fund opportunities in APAC