Author: Deal Street Asia Online News

Chinese pet lifestyle brand VETRESKA’s SG subsidiary raises $50m

The Singaporean subsidiary of VETRESKA, a Chinese pet lifestyle brand, has received a $50-million strategic investment from Quest FoF, the venture capital (VC) arm of a major pan-Asian agri-food conglomerate.  The subsidiary, VETRESKA FUTURE PET FOOD, will use the funds in the production and processing of global food raw materials, advancing its supply-chain system, and… Continue reading Chinese pet lifestyle brand VETRESKA’s SG subsidiary raises $50m

Indonesian solar startup Xurya raises $11.5m more in Series A fundingThe additional funding was in the form of equity and convertible note agreement

Xurya, a Jakarta-based startup that develops rooftop solar panels for businesses and industries in Indonesia, has announced raising additional Series A funding from Mitsui & Co and Surya Semesta Internusa (SSIA). According to ACRA filings accessed by DealStreetAsia – DATA VANTAGE, Xurya raised $6.5 million in additional equity funding and another $5 million in convertible… Continue reading Indonesian solar startup Xurya raises $11.5m more in Series A fundingThe additional funding was in the form of equity and convertible note agreement

China’s YMTC denies report it took part in meetings on US chip restrictionsExperts say the sanctions will pose a major hurdle for China’s domestic chi…

Chinese chip maker Yangtze Memory Technologies Co (YMTC) Ltd denied a media report that it had participated in emergency meetings convened by China’s industry ministry to discuss the impact of U.S. sanctions. The company in a statement late on Thursday described the report as “false and sinister,” adding that the report had damaged its corporate image and would have serious adverse effects on the semiconductor industry environment at… Continue reading China’s YMTC denies report it took part in meetings on US chip restrictionsExperts say the sanctions will pose a major hurdle for China’s domestic chi…

Singapore BNPL players launch code of conduct to protect consumers

The Singapore FinTech Association (SFA) and eight industry players have launched a code of conduct that outlines the best practices to protect consumers in the city-state against over-indebtedness. Among others, the code of conduct states that customers cannot have over S$2,000 in outstanding payments with a “buy now, pay later” (BNPL) provider, unless they pass… Continue reading Singapore BNPL players launch code of conduct to protect consumers

India: Walmart-backed PhonePe said to be in talks to raise funds at $12b valuation

Indian digital payments firm PhonePe is in talks to raise funds in a round led by General Atlantic at a valuation of $12 billion, financial news website Moneycontrol reported on Friday, citing people aware of the matter. U.S. private equity group General Atlantic is likely to lead the round with an investment of $450 million… Continue reading India: Walmart-backed PhonePe said to be in talks to raise funds at $12b valuation

US weighs security reviews for Musk’s Twitter, Starlink deals

Biden Administration officials are discussing whether the United States should subject some of Elon Musk’s ventures to national review including the deal for Twitter Inc and SpaceX’s Starlink satellite network, Bloomberg News reported on Thursday, citing people familiar with the matter. The SpaceX chief in recent times has taken to Twitter to announce proposals to… Continue reading US weighs security reviews for Musk’s Twitter, Starlink deals

Twitter denies reports about huge layoffs post-takeover

Twitter Inc on Thursday clarified to staff that there are no plans for company-wide layoffs since it signed a deal to be acquired by billionaire Elon Musk, after a media outlet reported that Musk is considering layoffs at the company. Twitter General Counsel Sean Edgett emailed employees on Thursday saying the company does not plan… Continue reading Twitter denies reports about huge layoffs post-takeover

Indian Angel Network launches second fund with $120m corpusIAN’s first fund had raised Rs 375cr in 2019

Early-stage investing platform Indian Angel Network (IAN) has launched its second fund, IAN Alpha Fund, with a target corpus of about $120 million (Rs 1000 crore), per an announcement on Thursday. The fund is aligned with IAN’s vision of investing in 500 startup, with Rs 5,000 crore, and creating 500,000 jobs, IAN said in a… Continue reading Indian Angel Network launches second fund with $120m corpusIAN’s first fund had raised Rs 375cr in 2019

Dymon Asia Private Equity to ramp up Thai presence, eyes deals in food space

Singapore-headquartered Dymon Asia Private Equity (DAPE) is looking at expanding its presence in Thailand, which the firm sees as one of the key focus markets in Southeast Asia. Having invested predominantly in Singapore and Malaysia-based companies, DAPE is seeking opportunities in the food-related sectors in Thailand due to the country’s access to a wide range… Continue reading Dymon Asia Private Equity to ramp up Thai presence, eyes deals in food space