Expansion
India's FarEye raises $100m Series E
US-based VCs TCV and Dragoneer Investment Group have led a $100 million Series E round for FarEye, an Indian logistics software-as-a-service platform focused on Western markets.
Vision Fund invests $175m in Korea education start-up
SoftBank Vision Fund 2 has invested $175 million in Korean education app Riiid to build out its artificial intelligence (AI) capacities and advance a global expansion.
Deal focus: Novo spreads its wings in Southeast Asia
In Hummingbird Bioscience and Halodoc, Novo Holdings believes it has backed a potential global leader in hard-to-drug cancer and a likely domestic champion in telemedicine and disease management
Deal focus: New angle on logistics flourishes in China
China’s DST Car Rental has achieved a level of vertical integration unique among start-ups in electrified logistics. With the model proving itself at home, an overseas expansion awaits
Deal focus: NFT start-up declares war on the internet
Hong Kong’s Animoca Brands is at the forefront of securing digital property rights via cryptographic tokens. The concept is germinating in the games sector, but it is expected to change everything
China trucking player secures $200m Series E
For-U Smart Freight, a Chinese road freight logistics company, has raised a $200 million Series E round led by China Structural Reform Fund, China life Investment, and Greater Bay Area Homeland Investments.
Anchor invests $550m in Japan unit of Korea's Kakao
Anchor Equity Partners, a mid-market private equity firm focused on opportunities in North Asia, with a particular focus on Korea, has invested JPY60 billion ($550 million) in the Japan unit of Korean internet giant Kakao.
Singapore biotech start-up closes $125m Series C
Novo Holdings, which manages the wealth of Denmark’s Novo Nordisk Foundation, has led a $125 million Series C round for Hummingbird Bioscience, a Singapore and US-based drug developer.
Alibaba, Baring Asia back Masan's Vietnam grocery push
A consortium led by Alibaba Group and Baring Private Equity Asia has invested $400 million in the combined consumer goods and grocery retail operations of Vietnam conglomerates Masan Group and Vingroup.
Singapore fintech provider Thunes gets $60m
Insight Partners has led a $60 million round for Thunes, a Singapore-based financial technology provider specializing in B2B cross-border payments in developing markets.
Ikea entity leads Series C for China EV rental player
Dishangtie Car Rental, a Shenzhen-based electric vehicle (EV) rental service, has raised a $100 million Series C led by Ingka Holdings, a holding company for most of Ikea's stores.
India's Pine Labs raises $285m
Pine Labs, an India-based payments start-up that recently expanded its Southeast Asia footprint through the acquisition of Malaysia’s Fave, has secured $285 million in new funding.
Vietnam healthcare: Early days
Hospitals attract most of the capital and interest aimed at Vietnam healthcare. Macro tailwinds are benefiting other parts of the services ecosystem as well, but GPs don’t want to jump too early
Vietnam middle market: Room for maneuver
There is a perceived sweet spot in Vietnam where check sizes are too big for local GPs and too small for pan-regionals. Taking advantage means addressing structural nuances and strategic competition
India's Moglix raises $120m Series E at $1b valuation
Indian B2B services player Moglix has raised a $120 million Series E round led by Falcon Edge Capital and Harvard Management Company at a valuation of $1 billion.
Indonesia's Gojek, Tokopedia merge as GoTo
Gojek and Tokopedia, two of Indonesia’s best-funded technology start-ups, have completed a merger, forming what they claim is the largest mobile on-demand services and payments platform in Southeast Asia.
Japan microsatellite developer gets $24m Series C
Japanese microsatellite developer Axelspace has raised JPY2.6 billion ($24 million) in Series C funding from a group of domestic VCs, including Sparx Group.
KKR invests $95m in India's Lenskart
KKR has invested $95 million in Indian eyewear retail leader Lenskart via a secondary transaction that facilitated partial exits of undisclosed size for TPG Growth and TR Capital.
Hong Kong NFT player raises $89m at $1b valuation
Hong Kong’s Animoca Brands, a blockchain-based games developer diversifying into non-fungible tokens (NFTs), has raised $88.9 million from a group of VCs at a valuation of $1 billion.
China HR SaaS player Beisen raises $260m
Beisen, China’s largest integrated human resources software-as-a-service (SaaS) platform, has raised $260 million in Series F funding. It is said to be the largest-ever round in this segment of enterprise services.
China's WeRide closes Series C, hits $3.3b valuation
Chinese autonomous driving company WeRide has achieved a valuation of $3 billion on closing a Series C round of undisclosed size. It comes four months after the company raised $310 million in Series B funding.
FountainVest leads Series B for China's MyMRO
Shanghai-based B2B e-commerce company MyMRO, a spinoff of US industrial products supplier Grainger, has raised several hundreds of million renminbi in Series B funding led by FountainVest Partners.
EQT backs Indonesia flavors, fragrances player
Product innovation and geographic expansion are on the agenda for Indonesia-based flavors and fragrances (F&F) provider Indesso Group following EQT’s acquisition of a minority stake in the business.
China GPs commit $160m to local ADC player
DAC Biotech, a Chinese biotech company specializing in antibody-drug conjugates (ADCs) commonly used as targeted therapies for treating cancer, has raised RMB1 billion ($160 million) in Series C funding led by GL Ventures, CDG Capital, and CPE.