Alibaba Group Holding Ltd plans to sell a stake of about 3% in Indian food delivery firm Zomato Ltd worth $200 million through a block deal, CNBC Awaaz reported on Tuesday, citing sources. The Chinese e-commerce giant, through its finance affiliate Ant Group, currently owns a 13.3% stake in Zomato, according to Refinitiv data. Alibaba and Zomato did not immediately respond to Reuters requests for comment. The block deal on Wednesday will likely be… Continue reading Alibaba may sell $200m shares in India’s Zomato via block deal
Category: Tech News
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ID Digest: Ajaib fires 8% staff; Seedstars launches new investment platform
The tech layoff spree continues in Indonesia, with Ajaib cutting 8% of its workforce. Meanwhile, Seedstars, a Swiss venture capital firm, has launched an investment platform for emerging venture capital (VC) fund managers. Ajaib sacks 67 employees Indonesian investment platform Ajaib has laid off 67 employees, or about 8% of its headcount, as reported by… Continue reading ID Digest: Ajaib fires 8% staff; Seedstars launches new investment platform
Italian car company Lancia is being reborn as an EV-only brand
/ Its first electric car will launch in 2024. Lancia’s new wordmark featuring its new brand font.Image: Lancia Lancia, the Italian car company owned by Stellantis alongside Fiat, Chrysler, Citroën, Vauxhall, and Peugeot, is being revived as an electric car brand. The company announced plans to produce three electric vehicles between 2024 and 2028: a… Continue reading Italian car company Lancia is being reborn as an EV-only brand
JD said to lay off employees in Thailand, potentially exit businesses in SE Asia
JD Central Thailand, a joint venture between Chinese retail giant JD.com and Thailand’s largest retailer Central Group, is said to have laid off a significant portion of its staff on Monday, DealStreetAsia has learnt. While a confirmation on the exact number could not be ascertained, sources familiar with the matter said nearly 200 employees may… Continue reading JD said to lay off employees in Thailand, potentially exit businesses in SE Asia
BlackRock completes second Taiwan solar refinancing deal worth $125m
BlackRock’s climate infrastructure business has closed its second solar refinancing deal in Taiwan worth $125 million, per a statement by law firm Linklaters on Tuesday, which acted as legal advisor to the deal. The green loan facility will be used to refinance, recapitalise, and fund the construction of its wholly-owned subsidiary New Green Power’s portfolio… Continue reading BlackRock completes second Taiwan solar refinancing deal worth $125m
X-EPIC snags funds and 54 other deals from Greater China worth over $1.1b
X-EPIC, which provides electronic design automation (EDA) software and solutions to businesses, has completed its Series B round raising “several hundreds of million” yuan, it said in a statement. The company will use the fresh funding to ramp up its product offerings and for team expansion. The Series B round was led by Zhongdian Zhongjin,… Continue reading X-EPIC snags funds and 54 other deals from Greater China worth over $1.1b
Blockchain firms raked in $879m from venture capitalists in Q3, shows report
Decentralized finance (DeFi) and Web3 were the primary targets of early-stage startup funding from some of the top private investors in the third quarter, research firm Pitchbook said on Tuesday, even as overall venture capital investments declined. Web3 – a term used to describe a potential next phase of the internet – firms that were… Continue reading Blockchain firms raked in $879m from venture capitalists in Q3, shows report
China’s SemiDrive raises $139m in Series B+ to speed up auto chip adoptionSemiDrive plans to use the proceeds to focus on R&D efforts.
China’s SemiDrive Technology has raised nearly 1 billion yuan ($138.9 million) in a Series B+ round of financing led by an SAIC Motor-backed investment fund to speed up the mass production and application of its automotive chips. SemiDrive, which counts Sequoia Capital China and Temasek-backed Vertex Ventures China among its early investors, secured fresh capital… Continue reading China’s SemiDrive raises $139m in Series B+ to speed up auto chip adoptionSemiDrive plans to use the proceeds to focus on R&D efforts.
India Digest: Ghodawat Consumer acquires Coolberg; Mankind buys Upakarma Ayurveda
Ghodawat Consumer Limited (GCL), the FMCG arm of Sanjay Ghodawat Group (SGG), has acquired non-alcoholic beverages maker Coolberg. In another development, Mankind Pharma has bought a majority stake in Upakarma Ayurveda Pvt Ltd for an undisclosed amount. Ghodawat Consumer acquires Coolberg Ghodawat Consumer Limited (GCL), the FMCG arm of Sanjay Ghodawat Group (SGG), has acquired… Continue reading India Digest: Ghodawat Consumer acquires Coolberg; Mankind buys Upakarma Ayurveda
People Digest: Amazon’s third business exit from India; VerSe Innovation, Hirect slash jobs
After shutting its food delivery and online learning businesses in India, Amazon is set to pull the shutters down on its wholesale distribution business in the country as well. Separately, startups VerSe Innovation and Hirect have fired 150 and 200 employees, respectively. Amazon shuts wholesale distribution business in India Amazon is shutting down its wholesale… Continue reading People Digest: Amazon’s third business exit from India; VerSe Innovation, Hirect slash jobs