Singlera Genomics, a Chinese developer of non-invasive genetic diagnostics, announced on Wednesday the completion of its Series B+ funding round at 300 million yuan ($45 million). The round was led by Forestone Capital, with participation from Galaxy Yuanhui Investment and Qiandao Investment, among other domestic investors. The publicly-listed Sansure Biotech, which specialises in molecular diagnostics… Continue reading Singlera raises $45m and 39 more deal updates from Greater China worth $556m
Author: Deal Street Asia Online News
Malaysia’s Top Glove sees slump in profit, cuts back capex as demand slows
Top Glove Corp, the world’s largest medical glove maker, posted a 98.6% drop in quarterly profit due to weaker demand for its products and higher production costs. The Malaysian firm, which saw profits and demand surge during the COVID-19 pandemic, has also deferred and reduced its capital expenditure for the near term due to moderating demand. Profit after tax… Continue reading Malaysia’s Top Glove sees slump in profit, cuts back capex as demand slows
Indonesia’s Lummo cutting jobs, halting LummoShop expansion …
Jeff Bezos-backed fintech startup Lummo [formerly known as BukuKas] is letting go of its staff and halting the expansion of LummoSHOP — its service that allows offline merchants to set up online stores, DealStreetAsia has learnt. So far, about 100 employees have lost their jobs, according to people familiar with the matter. The company is… Continue reading Indonesia’s Lummo cutting jobs, halting LummoShop expansion …
China Deal Review: Startups raise over $3.8b as PE-VC funding activity climbs in May
Startups headquartered in Greater China raised more than $3.8 billion in PE-VC funding in May 2022, up 41.2% month-on-month. At 190, the deal volume also increased by 11.8% from April — a sign that funding activity in the second quarter will overtake the previous quarter’s performance as the post-pandemic recovery continues. The number of venture… Continue reading China Deal Review: Startups raise over $3.8b as PE-VC funding activity climbs in May
India’s latest unicorn PW founder says not approached by any investor in first 18 months
The founder of Indian edtech startup PhysicsWallah (PW), Alakh Pandey, is overwhelmed by the sudden surge in media requests for interactions and investor interest a day after raising $100 million in its Series A round from WestBridge Capital and GSV Ventures and becoming a unicorn. At a time Indian edtech startups are grappling to stay… Continue reading India’s latest unicorn PW founder says not approached by any investor in first 18 months
Satellite internet poised for big bang of growth in Southeast Asia
Elon Musk’s SpaceX is among the many companies competing to provide satellite-based internet service in Southeast Asia, seeing it as the answer to the slow, unreliable communications the region’s vast number of netizens have been putting up with. “Starlink approved by The Philippines:” Musk tweeted as soon as the country’s telecommunications regulator approved SpaceX’s Starlink… Continue reading Satellite internet poised for big bang of growth in Southeast Asia
World’s richest families increased exposure to private equity in 2021: UBS report …
The world’s wealthiest families put more money into private equity than in traditional asset classes like fixed income and stocks in 2021 as they sought to boost investment returns, an annual report by Swiss bank UBS UBSG.S shows. Private equity posted stellar returns last year as trillions of dollars in pandemic-related stimulus prompted a record surge in… Continue reading World’s richest families increased exposure to private equity in 2021: UBS report …
Didi pursues EV stake as it emerges from regulatory shadows
China’s Didi is in talks with state-backed Sinomach Automobile to buy a third of its electric-vehicle unit, two sources said, signalling the ride-hailer’s regulatory troubles are in the rear view mirror as it focuses on growth. The deal, if completed, would accelerate Didi Global Inc’s strategic expansion in the world’s largest EV market and help cushion the impact of… Continue reading Didi pursues EV stake as it emerges from regulatory shadows
After lockdown, Shanghai tries to mend fences with foreign firms
Shanghai officials are seeking to revive confidence among multinational companies bruised and frustrated by the city’s COVID-19 lockdown by holding multiple meetings with foreign firms and easing a key border requirement for overseas workers. The image of China’s most cosmopolitan city and its biggest business hub was badly damaged by the two-month lockdown, with countless expatriates… Continue reading After lockdown, Shanghai tries to mend fences with foreign firms
US data security firm Immuta valued at $1b after latest funding led by NightDragon
Data security firm Immuta said on Wednesday it was valued at $1 billion after a $100 million late-stage funding round led by venture capital firm NightDragon. Cyber security companies, such as Immuta, Axonius and Securonix, have attracted investor interest recently due to strong demand for their services as businesses adopt a hybrid work model globally due to the… Continue reading US data security firm Immuta valued at $1b after latest funding led by NightDragon