Chennai-headquartered Aquaconnect, a full-stack aquaculture platform, on Tuesday announced that it has raised $15 million (Rs 120 crore) in its Series A funding round led by Lok Capital. The funding round also saw the participation of Louis Dreyfus Company Ventures, Suneight Investment, along with existing investors including Omnivore, Rebright Partners, Flourish Ventures, HATCH and other… Continue reading Lok Capital leads $15m funding in Aquaconnect and India deals worth $107m
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KKR buys Japanese drugmaker Bushu Pharmaceuticals from BPEA EQT
US private equity heavyweight KKR has acquired all shares in Japan-based drug contract manufacturer Bushu Pharmaceuticals from pan-Asian private equity firm Baring Private Equity Asia, which is owned by EQT AB. While the financial specifics of the deal were not disclosed by the company, the transaction price was reported to stand at upwards of 100… Continue reading KKR buys Japanese drugmaker Bushu Pharmaceuticals from BPEA EQT
Eat Food Pakistan inks partnership with Delivery Hero, raises pre-seed round
Karachi-based food startup Eat Food Pakistan on Tuesday announced a partnership deal with Delivery Hero Kitchens and Delivery Hero Pakistan, which will support both parties in terms of data facilitation, food partners, and in identifying potential hotspots. Eat Food Pakistan has also raised $1 million in a pre-seed round from friends and family, the company… Continue reading Eat Food Pakistan inks partnership with Delivery Hero, raises pre-seed round
China smartphone maker Xiaomi to slash 15% of jobs, per reportXiaomi in November reported a 9.7% fall in third-quarter revenue.
China’s Xiaomi Corp has started laying off workers in several units of its smartphone and internet services business, reducing its workforce by about 15%, the South China Morning Post reported on Tuesday. The Hong Kong newspaper cited social media posts by affected employees and local Chinese media, saying China’s social media platforms, including Weibo, Xiaohongshu… Continue reading China smartphone maker Xiaomi to slash 15% of jobs, per reportXiaomi in November reported a 9.7% fall in third-quarter revenue.
Brookfield looks to lap up distressed multifamily assets in top Chinese cities
Canada’s Brookfield Asset Management, one of the world’s largest alternative investment managers, has set its eyes on residential properties in China’s Tier-I cities, even as many investors stay clear of the country’s beleaguered realty sector. Brookfield believes there are opportunities to lap up assets from distressed developers who are scrambling to raise cash, Stuart Mercier,… Continue reading Brookfield looks to lap up distressed multifamily assets in top Chinese cities
Two more Chinese property developers to raise funds via discounted share sales
CIFI Holdings on Tuesday became the latest Chinese property developer to raise funds by selling new shares at discounted prices, while Agile Group announced its second such capital raising since November. After a raft of government measures supported their share prices, a number of developers including heavyweights like Country Garden have since November turned to… Continue reading Two more Chinese property developers to raise funds via discounted share sales
US lawmakers to ban TikTok on government-owned devices
US lawmakers will include a proposal to bar federal government employees from using Chinese app TikTok on government-owned devices in a key spending bill, sources told Reuters on Monday. The Senate last week voted on a bill sponsored by Republican Senator Josh Hawley to bar federal employees from using the ByteDance-owned short video app on… Continue reading US lawmakers to ban TikTok on government-owned devices
RM Group snaps $10m and 37 other Greater China deals worth $358m
RM Group, also known as Ranmai Technology, the creator of China’s top virtual influencer AYAYI, has snapped $10 million in a Series A round led by BAI Capital. The firm said in statement published via BAI Capital on WeChat that it will focus on artificial intelligence, augmented reality, Virtual Reality, and so on to upgrade… Continue reading RM Group snaps $10m and 37 other Greater China deals worth $358m
Orbiter Discovers “Mysterious Shapes” Inside Mars Craters
We can only guess as to why these features were formed. Mysterious Planet NASA’s Mars Reconnaissance Orbiter has captured images of “mysterious shapes” inside massive craters, as MRO team member Paul Geissler wrote in a blog post last week. The discovery, as evidenced in stunning images captured by MRO’s HiRise camera, has scientists intrigued. The dazzling… Continue reading Orbiter Discovers “Mysterious Shapes” Inside Mars Craters
It Turns Out Elon Musk’s Stalking Incident Had Nothing to Do With ElonJet
Late last week, maybe-still-Twitter-CEO Elon Musk banned the Twitter account @ElonJet, which as its name suggests, was dedicated to tracking the comings and goings of Musk’s private jet. Musk’s rationale for the ban was that the account had led to a dangerous stalking incident involving Musk’s young son with Claire “Grimes” Boucher. “Last night, car carrying… Continue reading It Turns Out Elon Musk’s Stalking Incident Had Nothing to Do With ElonJet