Southeast Asian superapp and ride-hailing giant Grab will close all of its dark stores in Indonesia and instead leverage the infrastructure of its partner Trans Retail, an executive of the firm said on Tuesday. In September, Grab had announced a strategic partnership with PT Trans Retail, the retail arm of CT Corp, as part of… Continue reading Grab to close Indonesia dark stores to bring operational synergy with Trans Retail
Author: Deal Street Asia Online News
China Digest: China Renaissance bags CMS licence; EVAS Intelligence, ClinBrain raise funds
Hong Kong-listed financial institution China Renaissance has secured a capital market service licence in Singapore; while self-driving chip startup EVAS Intelligence and healthcare big data provider ClinBrain bagged funds. China Renaissance secures CMS licence in SG Hong Kong-listed financial institution China Renaissance has secured a capital market service licence in Singapore, following which the firm… Continue reading China Digest: China Renaissance bags CMS licence; EVAS Intelligence, ClinBrain raise funds
Guest post: How ESG is transforming SE Asia’s tech gameASEAN’s tech companies must establish tangible baselines for impact reporting.
Environmental, social, and governance (ESG) reporting is shaping up to be one of the most significant agendas of our time. Major commitments are being made in company boardrooms which have resulted in promising developments in emerging markets like Southeast Asia. As one of the fastest-growing regional economies, Southeast Asia has seen more than $15 billion… Continue reading Guest post: How ESG is transforming SE Asia’s tech gameASEAN’s tech companies must establish tangible baselines for impact reporting.
Korean video game firm GXC launches $40m venture fund
GXC, a South Korea-based global video game solutions company, has launched a $40-million venture fund focused on game developers and video game-related investments. In a statement, the gaming firm said the new VC fund, Round Ventures, will invest $2-8 million per gaming firm with co-investors. On its website, GXC said its co-investors include other game… Continue reading Korean video game firm GXC launches $40m venture fund
Agroshift, which raised Bangladesh’s largest pre-seed round, wants to transform the agri-supply chain
Agroshift, a Bangladeshi agritech startup, which enables businesses to source directly from farmers announced raising $1.8 million in funding on Tuesday. The fundraising marks the largest ever pre-seed round for any Bangladeshi startup to date. The round was co-led by UAE-based Shorooq Partners, a Middle East-focused technology investor, and Anchorless Bangladesh, a New York-based, early-stage… Continue reading Agroshift, which raised Bangladesh’s largest pre-seed round, wants to transform the agri-supply chain
Goldman Sachs launches Chinese infrastructure real estate joint venture
Goldman Sachs has launched a joint venture in China with local logistics company Sunjade in a bid to boost investment in Chinese logistics and infrastructure real estate assets, the U.S. bank said on Monday. The bank is forming the new unit via its investment arm Goldman Sachs Asset Management, which has invested more than $50 billion globally in real estate… Continue reading Goldman Sachs launches Chinese infrastructure real estate joint venture
Data Vantage: ADDX, AnyMind & Youvit receive capital and other updates
South Korean brokerage firm KB Securities officially secured a stake in Singapore-based private market exchange ADDX last week after investing $15 million in the startup. Priced at $2.35 per share, the capital injection was part of ADDX’s $58 million pre-Series B round announced in May, which was backed by the Stock Exchange of Thailand (SET),… Continue reading Data Vantage: ADDX, AnyMind & Youvit receive capital and other updates
S Korean VC Nextrans to launch $50m Vietnam-focused fund soonNextrans is one of the most active foreign VCs in Vietnam with 32 startups in its portfol…
South Korean venture capital firm Nextrans is planning to launch a $50-million new Vietnam-focused fund next month as it steps up focus on the country’s tech startup ecosystem, DealStreetAsia has learnt. The new vehicle will look at writing cheque sizes of up to $3 million, Le Han Tue Lam, Nextrans’s general manager confirmed in a… Continue reading S Korean VC Nextrans to launch $50m Vietnam-focused fund soonNextrans is one of the most active foreign VCs in Vietnam with 32 startups in its portfol…
Canada’s CDPQ invests $135m in Japanese renewables group Shizen Energy
Caisse de dépôt et placement du Québec (CDPQ), Canada’s second-largest pension fund, has made a $135-million investment in Shizen Energy to boost the Japanese energy group’s growth in the country and key international markets. In a statement, CDPQ and Shizen Energy said they have also agreed to a co-investment framework that will see the Canadian… Continue reading Canada’s CDPQ invests $135m in Japanese renewables group Shizen Energy
Toyota scrambles for EV reboot with eye on Tesla
Toyota is considering a reboot of its electric-car strategy to better compete in a booming market it has been slow to enter, and has halted some work on existing EV projects, four people with knowledge of the still-developing plans said. The proposals under review, if adopted, would amount to a dramatic shift for Toyota and rewrite the $38-billion… Continue reading Toyota scrambles for EV reboot with eye on Tesla