Author: Deal Street Asia Online News

SEA Digest: LINE MAN Wongnai buys FoodStory; White Star Capital backs Eyeball Games

Thailand unicorn LINE MAN Wongnai has acquired the restaurant management platform FoodStory for an undisclosed amount, while Singapore game studio Eyeball Games has secured $1.5 million. LINE MAN Wongnai buys restaurant management platform FoodStory Thailand-based tech startup and unicorn LINE MAN Wongnai has acquired the restaurant management platform FoodStory for an undisclosed amount. The acquisition… Continue reading SEA Digest: LINE MAN Wongnai buys FoodStory; White Star Capital backs Eyeball Games

Geely truck unit Farizon raises $600m in Series A roundThe latest round was led by Boyu Capital and Yuexiu Industrial Fund.

China’s Farizon, a maker of electric and hybrid trucks which is owned by automaker Geely, has raised $600 million in a Series-A funding round, the company said in a statement. The Hangzhou-based company, which produces and markets hybrid and pure electric commercial vehicles, said it plans to use the funds for further technology and product… Continue reading Geely truck unit Farizon raises $600m in Series A roundThe latest round was led by Boyu Capital and Yuexiu Industrial Fund.

Japan Digest: Angel Bridge, 01Booster Capital hit fundraising milestones

Japanese venture capital firm Angel Bridge and seed accelerator firm 01Booster Capital have closed their respective funds. Angel Bridge closes third fund Japan-based venture capital firm Angel Bridge has closed its third fund at $72 million, according to an AVCJ report. The fund drew commitments from Small & Medium Enterprises and Regional Innovation, Fuso Holdings,… Continue reading Japan Digest: Angel Bridge, 01Booster Capital hit fundraising milestones

Qiming Venture Partners co-leads $25m Series A round of P0x labs

POx labs, the team behind Manta Network, has bagged $25 million in a Series A round co-led by Polychain Capital and Qiming Venture Partners.  The round – joined by Alliance, CoinFund, and SevenX Ventures – has brought the firm’s valuation to $500 million, the company announced on Thursday.  Manta Network is a multi-modular ecosystem for… Continue reading Qiming Venture Partners co-leads $25m Series A round of P0x labs

Grab to acquire 100% stake in Singapore’s third-largest taxi operator Trans-cab

Southeast Asian super app Grab will acquire a 100% stake in Trans-cab, Singapore’s third largest taxi operator, through its arm GrabRentals, the company said in a statement on Thursday. The transaction is expected to close in the fourth quarter of 2023, subject to regulatory approvals and other customary closing conditions. Established in 2003, Trans-cab has… Continue reading Grab to acquire 100% stake in Singapore’s third-largest taxi operator Trans-cab

Greater China Digest: ForwardX, Rice Robotics secure funding

Rice Robotics and ForwardX Robotics have secured funding to fuel their expansion plans. Rice Robotics bags $7m in pre-Series A round  Hong Kong-based service robots maker Rice Robotics has secured $7 million in a pre-Series A financing round to prepare for its Japanese market expansion, the company said on Monday.  The firm, which develops robots… Continue reading Greater China Digest: ForwardX, Rice Robotics secure funding

Ex-Gojek executives’ two-wheeler EV startup MAKA Motors raises $38m seed round

MAKA Motors, an Indonesian electric motorbike startup founded by former Gojek executives Raditya Wibowo and Arief Fadillah, has closed a $37.6 million seed round co-led by local venture capital firms AC Ventures and East Ventures, and South Korea’s SV Investment. Other investors that participated in the round include Northstar Group, Provident, AlfaCorp, Skystar Capital, Peak… Continue reading Ex-Gojek executives’ two-wheeler EV startup MAKA Motors raises $38m seed round

SE Asian startups record 56% decline in funding in the first half of 2023

The funding winter in Southeast Asia showed no signs of a thaw in the second quarter of this year. Despite a slight uptick relative to the previous quarter, both deal value and volume dipped year on year during the April-June period, finds the latest report from DealStreetAsia – DATA VANTAGE. Privately-held companies in the region… Continue reading SE Asian startups record 56% decline in funding in the first half of 2023