Category: Tech News

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India: Used car marketplace Cars24 raises $400m in latest round

Indian used car marketplace Cars24, backed by Japanese behemoth Softbank, has raised $400 million as a part of its latest funding round. The funding comes just months after the company raised $450 million in September. In the current round, about $300 million of the total corpus has come in through equity, while the remaining $100… Continue reading India: Used car marketplace Cars24 raises $400m in latest round

Carlyle to have 20th exit in Japan, selling Sunsho Pharmaceutical

Global investment firm Carlyle has agreed to sell its entire investment in Sunsho Pharmaceutical, a Japanese contract manufacturer of health and nutrition products, to Osaka-based Towa Pharmaceutical. The financial details of the deal were not disclosed. Carlyle said in a statement that the transaction is expected to be completed in February next year. Carlyle acquired a… Continue reading Carlyle to have 20th exit in Japan, selling Sunsho Pharmaceutical

Razorpay secures $375m in Series F round, valuation jumps to $7.5b

Bengaluru-based payments processing platform Razorpay has raised around $375 million in its Series F round co-led by Lone Pine Capital, Alkeon Capital and TCV, according to an announcement on Monday. With this round, Razorpay’s valuation has more than doubled to hit $7.5 billion in just eight months. Existing investors Tiger Global, Sequoia Capital India, GIC and… Continue reading Razorpay secures $375m in Series F round, valuation jumps to $7.5b

India’s Cars24, a used-vehicle sales platform, raises $400M, now at a $3.3B valuation, to double down on growth

With supply chains in the automotive industry continuing to be disrupted due to Covid-19, demand has surged in the used-car market. Today, one of the startups that’s seeing a lot of growth as a result of that is announcing a big round of funding to further tap the opportunity. Cars24, a startup out of India… Continue reading India’s Cars24, a used-vehicle sales platform, raises $400M, now at a $3.3B valuation, to double down on growth

Nigerian mobility-tech startup MAX bags $31 million in Series B round, set to expand across Africa, build EV infrastructure

Nigerian mobility tech startup Metro Africa Xpress Inc. (MAX) is planning to enter more markets across Africa as it races towards formalizing the continent’s transportation sector after securing $31 million in Series B funding. The startup told TechCrunch that it will use the funding to enter Ghana and Egypt by the end of the first… Continue reading Nigerian mobility-tech startup MAX bags $31 million in Series B round, set to expand across Africa, build EV infrastructure

China’s LePure snags over $100m from Hillhouse, Legend, others

Shanghai LePure Biotech has completed its Series B+ round of financing raising ‘hundreds of millions of US dollars’. New investors who poured in fresh capital in the round include Asia’s leading private equity firm Hillhouse Capital, TMT and healthcare-driven New Alliance Capital, as well as HM Capital. Legend Capital, which had earlier infused ‘tens of… Continue reading China’s LePure snags over $100m from Hillhouse, Legend, others

Singtel stares at $216m exposure in Australia tax case defeat

Singapore Telecommunications Ltd has estimated it faces A$304 million ($216 million) in tax exposure, interest and penalties, after an Australian court dismissed its appeal against an assessment by the country’s taxation office. The case is related to its acquisition of Singtel Optus Pty Limited in 2001. Singtel‘s Australian subsidiary, Singapore Telecom Australia Investments (STAI), had received amended assessments from the Australian Taxation Office for primary tax of A$268 million, interest of A$58 million and penalties of… Continue reading Singtel stares at $216m exposure in Australia tax case defeat

Malaysia’s Kenanga unit invests $7m in P2P firm CapBay

Kenanga Capital Islamic, a unit of Kenanga Investment Bank (KIBB), has invested 30 million Malaysian ringgit ($7 million) in peer-to-peer firm CapBay as part of its efforts to address the gap in the market for sharia-compliant financing, according to a company statement on Monday. The investment is intended to grow CapBay’s sharia-compliant supply chain finance… Continue reading Malaysia’s Kenanga unit invests $7m in P2P firm CapBay

Clean Technica: Hertz Begins Installing EV Chargers For Its First Tesla Model 3 Rentals001574

Hertz has started installing EV chargers for some of its first Tesla Model 3 rentals, Drive Tesla Canada reports. Hertz is preparing for the rise in customers choosing an EV over an ICE vehicle and is installing EV chargers at some of their rental lots. One such lot is at the Fort Myers International Airport… Continue reading Clean Technica: Hertz Begins Installing EV Chargers For Its First Tesla Model 3 Rentals001574