Investments
China robotics player Cyclone gets $40m Series B
Matrix Partners China has led a $40 million Series B round for local robotics start-up Cyclone. Other investors include DCM, Lenovo Capital, Source Code Capital, and Renzhi Capital.
Japan gaming start-up raises Series A, hits $1b valuation
Playco, a Japan-headquartered mobile gaming start-up, has simultaneously formally launched operations and become a unicorn, raising $100 million in Series A funding at a valuation of $1 billion.
Iron Pillar leads Series C for Indian after-sales service player
Iron Pillar has led a $23 million Series C round of funding for Servify, an India-headquartered start-up that integrates parties involved in smart device retail with a view to improving customer service experience.
China AI: A rude awakening
Two years ago, artificial intelligence start-ups were the bright young things of China’s technology sector. Now these companies are struggling to justify their lofty valuations
China mobile recycling platform Aihuishou raises $100m
JD.com and Guotai Junan Securities have co-led an extended Series E round of $100 million for Aihuishou, a China-based electronic products recycling platform.
Deal focus: Airmeet rewires the conference circuit
As social distancing and travel restrictions play havoc with traditional conferences, Airmeet has seen a spike in demand for its virtual alternatives. A Series A round duly followed
KKR to invest $755m in India's Reliance Retail
KKR has followed up its investment in Jio Platforms, the holding company for a variety of digital assets owned by Reliance Industries, with a INR55.5 billion ($755 million) commitment to the Indian conglomerate’s retail unit.
PAG poised to invest in Australian airline
PAG Asia Capital is in exclusive negotiations over a A$150 million ($109 million) investment in Regional Express Holdings (Rex), an Australian airline that emerged following the collapse of Ansett Airlines.
India gaming platform secures $90m Series C
SIG Asia, RTP Global, MDI Ventures and Pegasus Tech Ventures have led a $90 million Series C round for Mobile Premier League (MPL), an India-based mobile gaming platform.
China EV maker WM Motor raises $1.5b
Chinese electric vehicle (EV) manufacturer WM Motor has raised RMB10 billion ($1.47 billion) in funding led by SAIC Motor and several government investment platforms. It said to be the largest single round in China's EV industry.
CDH, SDIC lead $62m Series C for Virogin Biotech
Virogin Biotech, a drug developer based in China and Canada, has received $62 million in Series C funding led by CDH Invesmtents and a subsidiary of State Development and Investment Corporation (SDIC).
Rise Fund, Swire back Asia plant-based food specialist
The Rise Fund, TPG’s impact investment vehicle, and Hong Kong conglomerate Swire Pacific have led a $70 million round for Green Monday Holdings, a Hong Kong plant-based protein provider.
Deal focus: COVID-19 prompts Modern Star exit rethink
Navis Capital Partners' 3.5x return on Australian educational resources supplier reflects how the business proved resilient in the face of COVID-19, but the pandemic still played havoc with the exit process
Deal focus: Waresix builds Indonesia's logistical lynchpin
Jungle Ventures and EV Growth lead $75 million round for Waresix, backing the company's integrated platform as a solution to Indonesia's logistics challenges
Australia's BGH backs online travel agent
BGH Capital has invested an undisclosed sum in TripADeal, an online travel agent that caters to the Australia and New Zealand markets.
China drug developer Sumgen raises $32m
Addor Capital has led a RMB220 million ($32 million) Series B funding round for Hangzhou-based drug developer Sumgen Biotech.
Panacea leads $40m Series C for China's XWPharma
Healthcare-focused Panacea Venture has led a $40 million Series C round for China’s XWPharma, a neurobiology-focused biotech developer previously known as XW Laboratories.
Tencent backs Chinese healthcare cloud services platform
Kyee Technology, a Chinese digital medical platform has raised RMB430 million ($64 million) in a Series D round led by Tencent Holdings. Other investors include Longmen Capital, Dyee Capital and Royal Sea Capital.
Chinese mouse-based drug testing specialist raises $143m
Biocytogen, a Chinese contract research organization (CRO) that provides genetically-modified mice for drug testing, has raised RMB970 million ($143 million) in an extended tranche of Series D funding.
Long Hill invests $30m in Chinese O2O pharmacy player
Chinese digital healthcare platform inCarey has raised $30 million in an extended tranche of Series B funding from Long Hill Capital.
DCP pursues $5.6b take-private of China's 51job
DCP Capital Partners has submitted a take-private offer for Chinese online recruitment services platform 51job that values the company at approximately $5.6 billion.
India insurance tech provider raises $60m
Acko, an Indian financial technology start-up touted as the country’s only digital-native insurer, has secured a $60 million investment featuring Amazon and two global insurance providers.
Chinese educational platform Lele Ketang raises $40m
Lele Ketang, a Chinese K12 education platform, has raised a $40 million Series C round led by Owl Ventures, the largest education-focused VC in the US.
Asia-focused events platform Airmeet raises $12m
Sequoia Capital India has led a $12 million Series A round for US-based and Asia-focused virtual events platform provider Airmeet.