Author: Deal Street Asia Online News

Sony India, Zee seal mega merger to take on streaming platforms

Sony‘s India unit has finalised a deal with local rival Zee Entertainment to merge their television channels, film assets and streaming platforms, joining forces to take on the likes of Netflix and Disney in India. India, still heavy on direct-to-home TV entertainment, has in the past few years seen a surge of competition from streaming… Continue reading Sony India, Zee seal mega merger to take on streaming platforms

Foxconn’s India unit Bharat FIH files for $663m domestic IPO

Hong Kong-listed FIH Mobile Ltd’s India unit Bharat FIH Ltd filed for an initial public offering of up to 50.04 billion rupees ($662.97 million) on Wednesday, according to its draft prospectus. Shares of FIH Mobile, a unit of Apple Inc supplier Foxconn, surged 6.7% earlier in the day in Hong Kong after the company proposed the… Continue reading Foxconn’s India unit Bharat FIH files for $663m domestic IPO

Chinese AI-based drug maker Xbiome bags nearly $100m in Series B round …

Xbiome, a Chinese drug development platform that utilises AI, has pocketed nearly $100 million in a Series B round.  The fresh round saw participation from investors including 5Y Capital, Legend Capital, China-focused private equity firm Primavera Capital, Gaorong Capital, and HIKE Capital. Xbiome plans to primarily invest the proceeds in clinical trials, investigational new drug… Continue reading Chinese AI-based drug maker Xbiome bags nearly $100m in Series B round …

SG-based e-commerce aggregator Una Brands sets aside $35m for Indonesian brands

Singapore-based e-commerce brand acquirer Una Brands has set aside Rp500 billion ($35 million) as part of its Indonesian push. Una Brands will support local brands through acquisitions, capital injection, and operational support, it said in a statement on Wednesday. The startup said it has signed exclusive agreements with several Indonesian brands and targets to acquire… Continue reading SG-based e-commerce aggregator Una Brands sets aside $35m for Indonesian brands

China’s NASN Auto bags $78m from GL Ventures, CATL, others

NASN Automotive Electronics (NASN Auto), a manufacturer of electronic products used in automobiles, has closed a Series C funding round raising 500 million yuan ($78 million). Investors who participated in the round were: Hillhouse Capital’s venture capital arm GL Ventures, Bank of China’s Hong Kong-based subsidiary Bank of China Group Investment, CMC-SDIC Capital, and CATL… Continue reading China’s NASN Auto bags $78m from GL Ventures, CATL, others

People’s Digest: ShopUp hires new CFO; Openspace adds third general partner

Bangladesh-based ShopUp has hired former CICC executive director and head of Singapore M&A Vashistha Maheshwari as its CFO, while Openspace has promoted executive director Jessica Huang Pouleur as its third general partner. ShopUp hires chief financial officer Bangladesh-based business-to-business (B2B) commerce startup ShopUp has hired former China International Capital Corporation (CICC) executive director and head… Continue reading People’s Digest: ShopUp hires new CFO; Openspace adds third general partner

US pension commits $125m to Bain Capital’s second Asia special situations fund

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading US pension commits $125m to Bain Capital’s second Asia special situations fund