Alibaba Group has merged Ele.me, a China-focused food delivery platform that it acquired earlier this year, with its local services platform Koubei. The combined platform has raised $3 billion from investors including Alibaba and SoftBank Group.
According to Alibaba’s quarterly financial results, the merger is aimed at creating a comprehensive local services offering that can leverage the power of Alibaba’s corporate ecosystem and business...
Kalihulian - a China-based digital logistics platform that offers an Uber-style service for cargo freight - has raised RMB100 million ($14 million) in Series A funding led by Sino-Ocean Capital, an investment arm of property developer Sino-Ocean Group.
Neuron Mobility, a Singapore-based e-scooter company, has secured a $18.5 million Series A round led by Australia’s Square Peg Capital and US-based GSR Ventures.
Vertex Ventures, a VC arm of Singapore’s Temasek Holdings, has received commitments of $180 million from Japanese investors for a fund-of-funds that will support its global portfolio of VC vehicles.
Private markets investors in Asia have outperformed their developed markets peers in four out of the last six years in terms of IRR, with the once substantial gap in median distributions also narrowing, according to analysis by Hamilton Lane.