Expansion
3Q analysis: India advances
India technology investment continues to ramp up as China flatlines; international payments M&A drives Asia trade sale revival, but IPOs slump; fundraising remains slow
Norwest, Kedaara lead $59m round for India NBFC
Norwest Venture Partners and Kedaara Capital have led a INR4.4 billion ($58.6 million) Series F round for Indian non-banking finance company (NBFC) Veritas Finance.
China in six trends
Key themes in China private equity fundraising, investment, and exits
Australian Business Growth Fund seals debut deal
The Australia Business Growth Fund (ABGF) has made its first investment, committing A$15 million ($11 million) to local lithium-ion battery manufacturer 3ME Technology.
India cloud kitchen player Rebel Foods raises $175m
India-based cloud kitchen operator Rebel Foods has raised $175 million in Series F funding, led by Qatar Investment Authority (QIA), at a valuation of $1.4 billion.
Indonesia fintech start-up Ajaib achieves unicorn status
Ajaib, an online stock-trading platform in Indonesia, has raised $153 million in a Series B funding round led by DST Global at a valuation of $1 billion.
India's Licious secures $52m Series G
Licious, an India-based online retailer specializing in fresh meat and seafood, claims to have become the country’s first direct-to-consumer (D2C) unicorn following a $52 million Series G round.
Chinese EV maker WM Motor raises $300m
Chinese electric vehicle (EV) manufacturer WM Motor has raised $300 million in the extended Series D round led by Hong Kong telecommunication company PCCW and shipping company Shun Tak Holdings.
Singapore's Incomlend gets $60m for SME ESG financing program
Singapore’s Incomlend, a financial technology provider for small to medium-sized enterprises (SMEs) has raised $60 million for an environmental, social, and governance (ESG) financing program.
Temasek leads $550m round for US cybersecurity player Orca
Singapore’s Temasek Holdings has led a $550 million Series C round for US cybersecurity provider Orca Security that will support an Asia expansion.
China biotech: Going global
A gradual shift in focus from sourcing assets from overseas for application in China to bringing China-made treatments to the world is challenging the notion of what constitutes a local biotech start-up
Deal focus: Vedantu highlights impact potential in Indian edtech
The latest round for livestreaming teaching app Vedantu reframes India’s swaggering, unicorn-populated edtech sector as the impact opportunity it always was
Deal focus: COVID-19 grows India's Medikabazaar
Pandemic-driven demand for masks, ventilators, and the like has propelled Indian medical equipment operator Medikabazaar to its next stage of development with a global mix of investors
China SaaS: Path to profitability
COVID-19 has driven enterprise uptake of software-as-a-service solutions in China, but paying customers are still relatively few. Other markets offer some pointers on monetization
Falcon Edge leads $200m round for India's Ola Electric
Falcon Edge Capital has led a $200 million investment in Indian electric vehicle (EV) maker Ola Electric at a valuation of $3 billion with support from SoftBank.
Tiger Global leads $50m round for China's DataCloak
China-based cyber security start-up DataCloak has raised $50 million in an extended Series B round led by Tiger Global Management. Existing investors Matrix Partners China, Jeneration Capital, GL Ventures and GSR Ventures re-upped.
India's Meesho sees valuation double in five months
Indian social e-commerce start-up Meesho has raised a $570 million Series F round, doubling its valuation in less than five months to $4.9 billion.
India edtech player Vedantu raises $100m Series E
ABC World Asia, an impact investor with ties to Singapore's Temasek Holdings, has led a $100 million Series E round for Indian education technology company Vedantu at a valuation of $1 billion.
China autonomous sanitation vehicle maker raises $250m
CowaRobot, a Chinese autonomous driving technology developer with an initial focus on sanitation vehicles, has raised $250 million in Series C funding.
Lightrock leads round for India BNPL player Capital Float
Capital Float, an Indian lending platform now positioning itself as a buy now, pay later (BNPL) specialist, has raised $50 million led by the local unit of UK-based private equity investor Lightrock.
China robotics player Mech-Mind raises $154m
Chinese industrial robotics supplier Mech-Mind has raised nearly RMB1 billion ($154 million) in a Series C funding round led by Meituan and IDG Capital.
EQT backs cybersecurity training business
EQT has invested in EC-Council, a cybersecurity training and certification business established by a Malaysian entrepreneur, through its Asia mid-market fund.
Australia insurtech provider Cover Genius secures $72m Series C
Japanese insurance giant Sompo Holdings has led a A$100 million ($72 million) Series C round for Australian insurance technology provider Cover Genius.
Deal focus: Southeast Asia's four-trick credit pony
Advance Intelligence Group has used its core risk assessment technology to expand into lending and e-commerce transaction finance and services. Membership of Southeast Asia’s unicorn club is its reward