Author: Deal Street Asia Online News

Chinese supermarket chain T11 bags $100m in Alibaba-led Series B round …

Beijing-based T11 Food Market, a retail supermarket brand with a focus on fresh food and groceries, has completed a Series B round raising $100 million. The e-commerce conglomerate Alibaba led the new round, which also saw participation from private equity fund Redview Capital and existing investor MSA Capital — a $1.7 billion fund that has… Continue reading Chinese supermarket chain T11 bags $100m in Alibaba-led Series B round …

Flipkart, Walmart invest further $145m in Indian fresh produce supply startup Ninjacart

Flipkart and Walmart have announced a $145-million joint strategic investment in Bengaluru-based fresh produce supply startup Ninjacart, the company said in a statement on Monday. The latest capital infusion marks the third round of investment by Flipkart and Walmart into the startup. Flipkart and Walmart had previously invested in Ninjacart in 2019 and 2020. With… Continue reading Flipkart, Walmart invest further $145m in Indian fresh produce supply startup Ninjacart

SG topped in PE-VC deals, Indonesia clocked most IPOs in SE Asia this year: report

The total value of M&As, private equity, and venture capital deals, and initial public offerings (IPOs) in Singapore, Malaysia, and Indonesia stood at $280 billion across 1,800 deals between December 2020 and November 2021, according to a new report by the research firm Duff & Phelps. Transactions this year were 3.3 times the $84 billion… Continue reading SG topped in PE-VC deals, Indonesia clocked most IPOs in SE Asia this year: report

Data Vantage: Lemonilo, Xurya and CoLearn bag funding and other updates

The COVID-19 pandemic has not only accelerated digitalisation in Southeast Asia but also triggered a dramatic shift towards healthier life choices. Partly buoyed by the latter, Indonesia’s health food startup Lemonilo has emerged as a formidable competitor to food manufacturing giants such as Indofood and Wings Corp, particularly in the instant noodle market. Armed with… Continue reading Data Vantage: Lemonilo, Xurya and CoLearn bag funding and other updates

Walmart-backed Symbotic to list on Nasdaq following $5.5b deal with SoftBank SPAC …

Walmart Inc-backed Symbotic said on Monday it would go public through a merger with a SoftBank Group Corp blank-cheque firm in a deal offering the robotics and automation startup a pro-forma equity value of $5.5 billion. The deal with SVF Investment Corp 3 is supported by a private investment in public equity (PIPE) of $205… Continue reading Walmart-backed Symbotic to list on Nasdaq following $5.5b deal with SoftBank SPAC …

US chipmaker Magnachip, Chinese PE firm Wise Road call off $1.4b merger

Chinese private equity firm Wise Road Capital and U.S. chipmaker Magnachip Semiconductor Corp have terminated their $1.4 billion merger agreement struck in March, the companies said in a joint statement on Monday. The U.S. Treasury Department had said in August the deal posed “risks to national security”, while the Committee on Foreign Investment in the United States (CFIUS)… Continue reading US chipmaker Magnachip, Chinese PE firm Wise Road call off $1.4b merger

People Digest: B Capital appoints chief people officer; Google Cloud names SG, MY country head …

B Capital Group appoints Sandi Sadek as partner and chief people officer while Google Cloud appoints Cherie Ng as Singapore and Malaysia country director. Sandi Sadek is B Capital’s new partner and chief people officer B Capital Group has appointed Sandi Sadek as partner and chief people officer, according to a company statement. Sadek is… Continue reading People Digest: B Capital appoints chief people officer; Google Cloud names SG, MY country head …