Author: Deal Street Asia Online News

Asia Digest: Wittaya Aqua raises seed funding; MON Protocol launches venture fund

Wittaya Aqua, an aquaculture platform headquartered in Singapore and Canada, has raised $2.8 million in a seed round. In a separate development, MON Protocol, a Web3 intellectual property (IP) and games publisher, has launched a venture fund. Wittaya Aqua raises seed funding Singapore- and Canada-based aquaculture platform Wittaya Aqua has raised $2.8 million in seed… Continue reading Asia Digest: Wittaya Aqua raises seed funding; MON Protocol launches venture fund

Chinese biopharmaceutical firm AusperBio bags $37m in Series A roundThe round has been led by InnoPinnacle Fund.

Biopharmaceutical firm AusperBio has raised $37 million in a Series A round led by InnoPinnacle Fund as it looks to expand its operations. InnoPinnacle Fund is a USD-denominated investment fund set up by Hong Kong-listed Innovent Biologics. While it operates independently from the listed- firm, the fund targets opportunities across drug innovation and biotechnology. Others… Continue reading Chinese biopharmaceutical firm AusperBio bags $37m in Series A roundThe round has been led by InnoPinnacle Fund.

People Digest: Former ID minister Rudiantara joins DS/X Ventures; GoTo names new CFO

Early-stage venture capital firm DS/X Ventures has recruited former Indonesian communication and information technology minister Rudiantara as a strategic advisor and board member. Meanwhile, IDX-listed tech giant GoTo has named Simon Ho its new CFO. Former minister Rudiantara joins DS/X Ventures DS/X Ventures, an Indonesia-focused early-stage fund, has appointed Rudiantara, a former minister of communication… Continue reading People Digest: Former ID minister Rudiantara joins DS/X Ventures; GoTo names new CFO

Kalpavriksh Fund exits Jungle-backed The Ayurveda Experience

Prowess Advisors, an advisory firm that took over early-stage venture fund Kalpavriksh from Mumbai-based asset manager Centrum Alternatives in 2023, has exited its investment in The Ayurveda Experience, a D2C beauty and health Ayurveda brand, per a statement. The firm claimed to have garnered over 6x returns from the exit. Kalpavriksh Fund first invested in… Continue reading Kalpavriksh Fund exits Jungle-backed The Ayurveda Experience

Singapore classifieds unicorn Carousell trimmed losses by 40% in 2023

Singapore-based classifieds unicorn Carousell trimmed its losses by 40% in the financial year ended December 31, 2023, as it reined in costs, according to regulatory filings. The company reported a net loss of $38.1 million last year, down from $63.1 million in the previous year, show its filings with Singapore’s Accounting and Corporate Regulatory Authority… Continue reading Singapore classifieds unicorn Carousell trimmed losses by 40% in 2023

IPO-bound Thai AI software firm Amity Solutions secures $41.6m fundingIts parent company, Amity Corporation, also raised $18.5m in the round.

Amity Solutions (ASOL), a Bangkok-based multiproduct software group, and its parent company, Amity Corporation, have raised a combined $60 million in a Series C funding round, according to an announcement. ASOL raised $41.6 million from Chinese venture capital firm Insight Capital and new and existing investors. Amity Corporation, on the other hand, secured $18.5 million… Continue reading IPO-bound Thai AI software firm Amity Solutions secures $41.6m fundingIts parent company, Amity Corporation, also raised $18.5m in the round.

HSBC appoints insider Georges Elhedery as group CEO

HSBC Holdings Plc said on Wednesday that Chief Financial Officer Georges Elhedery will become group CEO – a choice that highlights the global lender’s preference for continuity as it looks to kickstart growth. Elhedery, 50, who becomes HSBC’s third CEO in less than eight years, will replace outgoing head Noel Quinn from Sept. 2. The… Continue reading HSBC appoints insider Georges Elhedery as group CEO

Thai Energy Absolute shares fall nearly 30% for second successive day

The share price of Thai renewables firm Energy Absolute fell nearly 30% for a second successive day on Wednesday, after company executives were hit with fraud allegations last week. EA share prices fell 29% against a benchmark gain of 0.22%. The executives have denied wrongdoing and the company has since announced changes to its board.… Continue reading Thai Energy Absolute shares fall nearly 30% for second successive day

Germany’s Allianz plans to buy majority stake in Singapore’s Income Insurance

German insurer Allianz said on Wednesday that it was planning to buy a majority stake in Singapore’s Income Insurance for about $1.6 billion to strengthen its foothold in Asia. The offer by Allianz, one of Europe’s most valuable financial firms in terms of its market capitalisation, for a stake of at least 51% is its… Continue reading Germany’s Allianz plans to buy majority stake in Singapore’s Income Insurance